EFCC Obtains N13 billion from Unauthorized Fuel Subsidy Payments.
According to information obtained by the PUNCH, the Economic and Financial Crimes Commission (EFCC) recovered almost N13 billion as the…
Category: Finance
Buhari Requests That the N22.7 trillion Debt be Restructured.
The National Assembly was encouraged by the President, Major General Muhammadu Buhari (retired), to reconsider his plan to securitize the…
CBN Plans to Decrease Cash-based Transactions by 2025.
According to the Central Bank of Nigeria, when more of the new naira notes enter the economy in 2025, the…
Buhari: N22tn Loan would have Additional Interest of N1.8tn.
The 2023 budget plan of N21.83 trillion and the 2022 supplemental appropriations bill were both passed into law by President…
IMF: One-third of The Global Economy will Experience A Recession.
In 2023, a third of the world will experience a recession, according to the International Monetary Fund. This information was…
CBN External Reserves Decreased by $3.43 billion in 2022.
The Central Bank of Nigeria provided data showing a $3.43 billion decline in Nigeria’s foreign reserves in 2022. The CBN…
Nigeria: Economic Group Takes on The National Assembly Over The Finance Bill.
The National Assembly hasty adoption of the 2022 Finance Bill has alarmed an economic think tank, the Centre for the…
World Bank: CBN Loan Repayments will Consume 62% of Revenue.
Despite the restructuring plan, the World Bank has predicted that interest payments on the Federal Government’s borrowing from the Central…
Nigeria’s Senate Approves The 2023 Budget but Defers a Decision On The Loan-bond Swap.
The Nigerian Senate raised the budget for 2023 by 6. 4% to 21. 83 trillion naira ($49 billion) and postponed…
Emefiele Should Defend Himself, Group Says Regarding Terrorism Financing.
The South South Reawakening Group (SSRG) demanded that the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, explain himself…
U.S. Looks Into $370 million Theft Following FTX Bankruptcy: Bloomberg News.
According to Bloomberg News, which cited a source familiar with the investigation, federal authorities are looking into an alleged theft…
UN: Nigerians are being Impacted by Falling Naira and Rising Food Prices.
According to a report by the United Nations Conference on Trade and Development, a combination of high food costs and…
World Bank Advises CBN to Review the RT-200 FX Policy.
Despite its best efforts, the World Bank has requested the Central Bank to reevaluate its RT-200 Program.The global bank claims…
Tanzania: NBC Bond Trades at DSE Following a Successful Sale.
The National Bank of Commerce (NBC) bond, which was recently completed, is now open to investors through the Dar es…
Uganda and IMF Agree to a $240 million Funding Deal.
Uganda and the International Monetary Fund (IMF) have established a staff-level agreement for the delivery of around $240 million in…
Nigeria FG Agree on NIPPS Sale to Pay for Budgets.
Final agreement has been reached between the federal government and the 36 governors of the states to sell five power…
The Total Assets of the Insurance Sector Reached N2.3 trillion.
At the end of the third quarter of 2022, the insurance industry in Nigeria had N2. 3 trillion in total…
Banks Reject 94% of Proposals for Export Funding.
Dr. Bamidele Ayemibo, the lead consultant at 3T Impex Consulting, claims that 94% of bank requests for export financing from…
Nigeria’s Inflation Picks Up in November, Reaching 21.47%.
According to the statistics office, inflation in Nigeria increased for the tenth consecutive month in November, rising to 21. 47%…
Banks’ Operating Expenses are Up 19.2% Due to High Inflation and Regulatory Fees.
Following a high inflation rate and regulatory charges, 14 Nigerian banks reported N2. 03 trillion in total operating expenses in…
According to the UN, Global Trade will Reach a Record of $32 trillion in 2022.
According to a UN report, the value of global trade is set to set a new record this year, increasing…
UK Inflation Drops from a 41-year High as Fuel Price Surge Subsides.
Inflation in the United Kingdom came in slightly lower than expected in November, at 10.7%, as lower fuel prices helped…
The IMF Claims that Global Debt is Still Significantly Higher than Pre-pandemic Levels.
The IMF reported that overall public and private debt declined by 10 percentage points to 247% of global gross domestic…
Beyond Capital Ventures Declares Groundbreaking Final Close of Venture Fund
On April 30, 2021, Beyond Capital Ventures was established with the goal of making investments in early-stage businesses in India…
Ghana: Germany Pledges an Economic Grant of €82 million.
The Federal Republic of Germany’s government has pledged to give grants totaling about €82 million to important sectors of the…
Despite Global Headwinds, Remittances Grew by 5% in 2022.
Remittances to low- and middle-income countries increased by an estimated 5% to $626 billion in 2022. Remittances to China, however,…
Ghana: A Record-high Interest Rate of 31.4% was Reached.
At the end of October 2022, the average interest rate on loans provided by banks to individuals and businesses in…
Nigeria’s Trade Balance is 86% Worse Off Due to Weak Exports.
Nigeria’s trade balance has been negative quarter over quarter, as exports have decreased by 19.8% to N5. 93 trillion in…
Egypt Hopes to Issue its First Panda Bonds.
According to Deputy Finance Minister Ahmed Kouchock, Egypt plans to issue its first panda bonds by the end of this…
Global Central Bank Push for Rate Increase.
Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between…