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Finance
House of Rep Increase the Cap on CBN Loans.
Despite opposition, the House of Representatives passed an amendment to the Central Bank of Nigeria Act, boosting…
The CBN cancels the licenses of 179 microfinance banks and others.
The Central Bank of Nigeria has cancelled the licenses of 179 microfinance banks, four primary mortgage banks, and…
Breweries and the Tobacco Sector on the Verge of Disaster.
According to Dike Onwuamaeze, businesspeople and economists have expressed concern that the 2023 Fiscal Policy…
The CBN prohibits the mint corporation from printing checks.
According to a recent circular, the Central Bank of Nigeria has authorized four indigenous businesses to issue…
The World Bank will increase FG’s access to a $750 million loan.
The Federal Government, on behalf of the 36 state governments and the Federal Capital Territory, is about to…
Assets Surge by 39% for BoI.
The Bank of Industry said its asset base rose from N1.71tn to N2.38tn in 2022 financial year - The Chairman, Board…
The task before PenCom is to recover unpaid pension contributions.
PenCom, the National Pension Commission, ensures the recovery of unremitted pension contributions by fining…
Cane Integrated Investment Ltd Partners with NYSC on Investment Literacy and…
The investment and financial advisory firm, Cane Integrated Investment Limited on Wednesday, May 10, 2023 visited…
The weakened naira is increasing Nigeria’s governmental debt, according to…
According to the International Monetary Fund, weaker currencies in Nigeria and other Sub-Saharan African countries…
STOA Set to Buy a Minority Stake in Morocco’s Building Logistics.
STOA, a subsidiary of the French deposit and consignment fund CDC, announced a MAD330 million ($32.9 million)…
States paying outgoing government pensions owe N3 trillion in debt.
Despite increasing debts and unpaid wages for workers, no fewer than 18 departing state governors will retire into…
Fashola Reports that 383,431 Jobs were Created in Six Years.
Fashola said that from 2016 to 2022, 383,431 jobs were created through the government's infrastructure renewal,…
CBN’s ‘RT200’ Strategy Increases Fund Repatriation by 40%,…
Godwin Emefiele, the governor of the Central Bank of Nigeria, claimed that the bank's 'Race to USD200bn In FX…
IMF Warns CBN as eNaira Transactions Hit N1.4m.
Kristalina Georgieva, Managing Director of the International Monetary Fund, has warned of the unpredictable…
Nigeria to Become Top Middle Income Economy By 2050, Says Buhari.
The Nigeria Agenda 2050 was officially unveiled on Wednesday in Abuja, with the statement that its implementation…
Foreign debt: FG Deducts N78 billion from State Allocations.
The Federal Government deducted over N78bn from allocations made to the states for external debt servicing,…
In One Week, Investors Lost N304 billion.
The market capitalization lost N304 billion to end the week at N27.963 trillion, and the All-Share Index decreased…
FAAC: Allocation Decreases as FG, States, and LGs Split N715 billion.
According to the Federal Account Allocation Committee, in March 2023, N714.63 billion was distributed across the…
The Nigerian Exchange Limited Recorded N2bn Gain for Investors.
The Nigerian Exchange Limited rebounded on Tuesday, recording N2bn gain for investors.
The All-Share Index also…
External Reserves Slide Further to $35bn.
According to data received from the Central Bank of Nigeria, the nation's foreign reserves decreased by $112.78…
FG: 40% Salary Increase for Workers in April.
By the end of this month (April), the Federal Government will start paying the anticipated wage raise for…
Subsidy Removal: FG Seeks Legislative Approval before Distributing $800 million to…
Mrs. Zainab Ahmed, the minister of finance, budget, and national planning, has stated that legislative approval is…
World Bank: 96% of Nigeria’s Revenue Utilized to Repay Debt in 2022.
Nigeria is in a more precarious position now than it was before the late 2021 global oil price boom. In 2022, the…
NSIA Assets Reach $1 trillion and Draw $500 million in FDI.
The Nigeria Sovereign Investment Authority increased its net assets from N919.73 billion in 2021 to N1.02 trillion…
CBN Moves to Invest Unclaimed Funds in Dormant Accounts in T-bills.
According to a proposal made by the Central Bank of Nigeria, banks should move money from accounts that have been…
IMF Calls on Nigeria to Increase Tax, Decrease Borrowing.
The International Monetary Fund (IMF) has once again advised Nigeria to intensify efforts to expand the tax base,…
IMF Advises CBN to Maintain a Strict Monetary Policy to Control Inflation.
The Central Bank of Nigeria (CBN) was given a recommendation by the International Monetary Fund (IMF) to continue…
In 2022, Debt Servicing Increased by 14.68%-DMO
According to DMO, N2.93 trillion was spent in 2021 on payments for servicing both domestic and foreign debt.…
According to analysts, U.S Banks are Offering Incentives to Lock in Consumer…
As the Federal Reserve increased interest rates, customers cried out for banks to pay more for deposits. Analysts…
Nigerias’ Financial Crisis Lowers Productivity in the Private Sector.
In March 2023, the private sector of the Nigerian economy saw productivity steadily decline as a result of the…