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Finance
Moniepoint gains unicorn status after raising $110m from Google and DIP
Nigerian fintech startup Moniepoint has reached unicorn status, now valued at over $1 billion following a $110…
CBN, IFC to provide $1bn funding options to Nigerian businesses
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement…
Dangote Backs Tinubu’s CNG Drive, Invests Over $280m In Trucks, Infrastructure
Dangote Cement Plc has invested over $280 million in compressed natural gas (CNG) technology, making it the…
IMF SEES MAJOR MANUFACTURING SHIFT TOWARDS INDIA AND CHINA
The latest International Monetary Fund (IMF) World Economic Outlook report underscores a global shift in…
First Bank fixes October 26 for system migration
First Bank has announced plans to migrate to a new cloud-based procurement and financial platform, aiming to…
U.S. And Nigeria Launch Cryptocurrency Crime Task Force
The U.S. Department of Justice and the Nigerian government have established a Bilateral Liaison Group to address…
Insurance Industry Key to Nigeria’s Economic Transformation, NIA Chairman
The Chairman of the Nigerian Insurers Association (NIA), Mr. Kunle Ahmed, emphasized the critical role that the…
Forex crisis stalls Nigeria’s participation in $3.4tn AFCFTA – Exporters
Four months into Nigeria’s participation in the African Continental Free Trade Area (AfCFTA) under the Guided…
Nigeria still borrowing amid high debt costs
Nigeria's engagement with the global debt market continues to thrive, according to the International Monetary Fund…
Business Journal summit to highlight insurance’s role in economic growth
The Business Journal Annual Lecture 2024 is set to highlight the critical role of the insurance industry in…
UBA grows profit by 20% to N603bn
United Bank for Africa (UBA) Plc announced a 20.2% rise in profit before tax (PBT) for the third quarter of 2024,…
MTN Nigeria Urges Telecom Sector Reforms Amid Mounting Financial Pressures
MTN Nigeria's CEO, Karl Toriola, has highlighted the urgent need for the telecommunications industry to return to…
Inflation Leads To Manufacturers Collapse And Out Of Jobs
Nigeria's manufacturing sector is grappling with severe challenges, including rising energy costs, aggressive…
Low Pension Fund Investment in Infrastructure Reflects Unattractive Market and…
Despite Nigeria's significant infrastructure deficit, pension fund investments in the sector remain around one…
CBN verifying disputed $2.4bn FX claims – Cardoso
The Central Bank of Nigeria (CBN) has launched a re-validation process to address complaints from manufacturers…
Federal High Court Extends Freeze on 818 Bank Accounts Linked to N10 Billion…
The Federal High Court in Abuja has extended the freezing of 818 bank accounts connected to a N10 billion…
Banks refund N7.05bn, $714,569 to customers – CBN
The Central Bank of Nigeria (CBN) has announced that, through its intervention, Nigerian banks refunded…
High petrol price pushes inflation to 32.70% – Report
Nigeria’s headline inflation rate rose to 32.7% in September 2024, marking a marginal increase of 0.55% from…
Cash transfer: FG releases N24bn to 991,261 households
The Nigerian government has given out N24.78 billion to help 991,261 poor families across the country. This is…
PenCom reports over N5.72trn public sector contributions in Q2 2024
The National Pension Commission (PenCom) has reported significant growth in both public and private sector pension…
Regency Alliance grows profit to N1.93bn
Regency Alliance Insurance Plc reported a 225% increase in profit after tax for the year ending December 31, 2023,…
Nigeria’s trade surplus hits N6.9tn in Q2 – NBS
Nigeria's foreign exchange earnings saw significant growth in the second quarter of 2024, with the trade surplus…
Financial sector grew by 30% – FG
Nigeria’s financial sector grew by more than 30% in the first half of 2024, signaling strong economic recovery…
Credit to Private Sector Increased by 38% YoY in June
Credit to Nigeria's private sector saw a significant increase of 38% year-on-year in June 2024, reaching N73.12…
Nigeria’s debt service-to-revenue may return to 98% in 2 years, economist warns
Economist Paul Alaje criticized the Nigerian government’s simultaneous removal of petroleum subsidies and…
Net FX flows increase by 55% to $25.4 billion in six months – CBN
Net foreign exchange inflows in Nigeria rose to $25.4 billion from January to June 2024, a 55 percent increase…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria's revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas…
Bank directors disagree with Otedola, Elumelu on FX windfall tax
The Bank Directors Association of Nigeria (BDAN) has expressed disagreement with the views of FBN Holdings…
FG’s revenue surpassed budgetary target, says minister
Nigeria’s Finance and Coordinating Minister of the Economy, Wale Edun, announced that the Federal Government's…
Nissan shares plunge after profit warning
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the…