First Fund Customers Threaten Protest Over GH¢170m Locked Funds After Six-Year Delay-Ghana
Aggrieved investors of First Fund, a scheme formerly managed by the defunct First Banc Financial Services, have issued a two-week…
Category: Local
Banks’ Cash Deposits with CBN Drop 41.6% as Borrowing Hits ₦820bn Amid Tight Liquidity
Nigeria’s banking sector experienced a dramatic liquidity shift last week as commercial banks slashed excess cash deposits with the Central…
Dangote Refinery Fuel Rollout Stalled as FG, Marketers Clash Over CNG Logistics Plan
The planned nationwide rollout of petroleum products by Dangote Petroleum Refinery has hit a major setback following a deadlock between…
NGX Dividend Drought: 45 Companies Go Five Years Without Payouts
Forty-five of the 146 companies listed on the Nigerian Exchange Limited (NGX) have not paid dividends in at least five…
Meta and X Face NITDA Sanctions for Flouting Nigeria’s Internet Code of Practice
Meta, the owner of Facebook, Instagram, WhatsApp, and Threads, and X, formerly Twitter, have been flagged for non-compliance with Nigeria’s…
Naira to Gain Temporary Boost as U.S. Plans Interest Rate Cuts
The naira could experience a short-term appreciation against the U.S. dollar as the Federal Reserve signals potential interest rate cuts. Analysts…
Africa Prudential Records 75% Profit Growth in H1 2025 on Strong Diversified Income
Africa Prudential Plc has reported a robust financial performance for the first half of 2025, posting a 75 percent year-on-year…
Nigeria’s Financial Markets Show Resilience Amid Global Economic Uncertainty
Nigeria’s economy expanded by 3.13% in Q1 2025, surpassing last year’s 2.27% but falling short of the 4.9% forecast, highlighting…
Ghana Pays GH¢9.7bn DDEP Coupon to Restore Investor Confidence Ahead of Bond Market Return
Ghana’s government has settled GH¢9.7 billion in coupon arrears under the Domestic Debt Exchange Programme (DDEP), a move expected to…
Dangote Refinery Receives 1,000 CNG Trucks, Fuel Distribution to Begin in South-West Nigeria
The Dangote Petroleum Refinery is set to launch its direct fuel distribution scheme in the coming weeks as 1,000 Compressed…
Nigeria Data Protection Act Enforcement: NDPC Targets Banks, Insurers, and Tech Firms with 21-Day Compliance Deadline
The Nigeria Data Protection Commission (NDPC) has launched an aggressive enforcement drive targeting financial institutions and tech firms over compliance…
Dangote Refinery and Petrol Prices: 10 Swings in 10 Months Despite Local Supply
Nigeria’s petrol market has experienced dramatic volatility since the Dangote Refinery began supplying fuel in September 2024, despite hopes for…
CBN Raises ₦8.99 Trillion via T-Bills in 7 Months as Rates Drop to 15%
The Central Bank of Nigeria (CBN) raised a total of ₦8.99 trillion through Treasury Bills (T-Bills) auctions in the first seven…
Nigerian Breweries, International Breweries, Champion Breweries Post N1.09 Trillion Revenue in H1 2025 Amid Inflation Pressures
Nigerian Breweries Plc, International Breweries Plc, and Champion Breweries Plc collectively recorded an impressive N1.09 trillion in revenue for the…
FCMB Group Plans Equity Capital Raise to Fund Regional and International Expansion
FCMB Group Plc has announced plans to raise equity capital as part of its strategy to strengthen its capital base…
Nigeria’s GDP to Grow 3.2%-3.9% in Q2 2025 on Rebasing, FX Stability, and Stronger Business Activity
Nigeria’s economy is on track to post faster growth in the second quarter of 2025, with analysts projecting real GDP…
Ghana Misses T-Bill Target for Third Consecutive Week as Yields Climb
Ghana’s Treasury Bill market remained under pressure last week as the government failed to meet its issuance target for the…
CBN Introduces Bank Customers’ Bill of Rights to Strengthen Consumer Protection and Financial Inclusion
The Central Bank of Nigeria (CBN) has launched the Bank Customers’ Bill of Rights to protect consumers and promote fair…
Nigerian Equities Market Slumps as Investors Lose N2.29 Trillion in One Week
The Nigerian equities market witnessed a sharp downturn last week, as investors lost approximately N2.29 trillion due to sustained selloffs across major…
Nigeria Targets 2.5 Million Barrels Per Day Oil Output by 2026, Says NUPRC
Nigeria is on track to boost its crude oil output to 2.5 million barrels per day (mbpd) by 2026, according…
NNPCL Posts N185bn Profit Despite Debt Burden, Remits N7.9tr to FAAC
The Nigerian National Petroleum Company Limited (NNPCL) reported a profit after tax of ₦185 billion in July 2025, despite mounting financial…
Non-Bank Corporates Drive 24% Surge in Nigeria’s FX Inflows as Dollar Bond Hits 180% Subscription
Nigeria recorded a significant boost in foreign exchange inflows in July 2025, climbing 24% to $1.7 billion, driven largely by…
Nigerian Stock Market Loses N781bn as Sell-Offs Deepen Bearish Sentiment
The Nigerian stock market extended its losing streak on Thursday, shedding N781 billion in market value as persistent sell-offs dragged performance into…
Ghana Pledges Fiscal Stability and Digital Transformation to Boost Private Sector Growth
Ghana’s government has reaffirmed its commitment to fiscal stability and private sector development as part of ongoing efforts to sustain…
Nigeria’s FX Reserves Surge to $41bn in August, Highest Level in Nearly Four Years
Nigeria’s foreign exchange reserves have surged past the $41 billion mark in August, recording their strongest level since December 2021.…
Technology, analytics to enhance transport systems – Expert
Integrating technology and advanced analytics into transport systems can significantly improve efficiency and road safety, according to transportation engineering consultant…
FCMB, FMO Launch ₦20 Million AgriTech Investment Programme for Nigerian Startups
First City Monument Bank (FCMB) in partnership with the Dutch Entrepreneurial Development Bank (FMO) has unveiled the FCMB–FMO AgriTech Investment Readiness…
Nigerian Pension Funds Seek Alternative Investments to Protect N24 Trillion Amid Inflation and FX Pressure
Operators in the Nigerian pension industry are calling for regulatory reforms to allow broader investment opportunities for the nation’s N24.63…
Nigeria’s Banking Sector Attracts 55% of Q1 2025 Foreign Capital Inflows Amid Reforms
Foreign investors have shown renewed confidence in Nigeria, with the banking sector emerging as the largest recipient of capital inflows…
FG Fails to Publish Budget Implementation Reports for Nearly a Year, Raising Transparency Concerns
The Nigerian government has not released any quarterly Budget Implementation Reports (BIRs) in nearly a year, sparking concerns over fiscal…