Soaring Cash Demand Squeezes Nigerian Banks Amid Tight Liquidity, Rising Interest Rates
Nigeria’s banking sector is facing mounting liquidity pressure as a surge in cash demand from both government and private players…
Category: Local
Nigeria’s Forex Reserves Surge to $40.16bn on Tinubu’s Bold Economic Reforms — Presidency
Nigeria’s foreign exchange reserves have risen to $40.159 billion as of August 7, 2025, from $37.195 billion a month earlier,…
Petrol Prices Surge to ₦900/Litre Despite Crude Oil Drop; Marketers Predict Imminent Decline
Petrol prices across parts of Nigeria have surged past ₦900 per litre despite a recent decline in global crude oil…
First Securities Brokers Leads NGX in July with ₦414.46bn Trades, Secures Top Spot in Volume & Value
First Securities Brokers Limited, a subsidiary of First Holdco Plc, has emerged as the top-performing brokerage firm on the Nigerian…
NGX Opens Week Positive as Investors Gain ₦79.6bn on Renewed Buying Interest
The Nigerian Exchange Limited (NGX) kicked off the new trading week on a positive note as the All-Share Index (ASI)…
Tinubu Approves Landmark Pension Reforms for DBS Retirees Under Renewed Hope Agenda
President Bola Ahmed Tinubu has endorsed significant reforms aimed at improving the welfare of retirees under Nigeria’s Defined Benefit Scheme…
SEC DG Agama Named Vice Chair of IOSCO’s Africa/Middle East Committee
Dr. Emomotimi Agama, Director-General of Nigeria’s Securities and Exchange Commission (SEC), has been elected Vice Chairman of the Africa/Middle East…
Insurance Act and Strong Q2 Earnings Drive Nigerian Stock Market to 3.2% Weekly Gain
The Nigerian stock market recorded a notable 3.2% gain in the week, driven by the recent enactment of the Insurance…
Pension Fund Performance Review: FCMB Pensions Limited Leads with 5.68% Return in July 2025
Nigeria’s pension industry maintained its steady performance in July 2025, delivering positive returns across all Retirement Savings Account (RSA) fund…
Top 10 African Fintech Startups Secure $470M in H1 2025 Amid Global Funding Slowdown
Africa’s fintech industry has demonstrated remarkable resilience in the first half of 2025, attracting significant investment despite a challenging global…
Credit Enquiries in Ghana Jump 114% in 2024 as Digital Lending Dominates – Bank Of Ghana
Credit enquiries in Ghana surged to 29.5 million in 2024, representing a 114.6% increase from 13.7 million in 2023, according…
Domestic Sources Drive $31.06bn Forex Inflows in Seven Months as Foreign Participation Slips
Nigeria’s foreign exchange market recorded total inflows of $31.06 billion between January and July 2025, according to FMDQ Securities Exchange…
Ghana’s T-Bill Auction Undersubscribed by 22% as Falling Yields Dampen Investor Appetite
Ghana’s latest Treasury bill auction closed with a 22.12% undersubscription, breaking a three-week streak of oversubscriptions. The Bank of Ghana…
Digital Banking Breaches Spike 56% in Nigeria as CBN Warns of Tough Sanctions
Nigeria’s banking sector is facing a growing cybersecurity crisis, with cyber theft risks surging 56% in the first half of…
India Boosts Nigerian Crude Purchases as Dangote Refinery Turns to US Oil Imports
India’s state-owned refineries have increased their purchases of Nigerian crude oil, even as Nigeria’s $20 billion Dangote Petroleum Refinery leans…
Nigeria’s Non-Oil Exports Surge 19.6% to $3.23bn in H1 2025 – NEPC
Nigeria’s non-oil exports reached $3.225 billion in the first half of 2025, reflecting a 19.59% increase compared to $2.696 billion…
Naira Shows Mixed Performance Amid Strong Forex Demand, CBN Actions Boost Market Stability
The Nigerian naira experienced a mixed performance last week, with marginal gains in the official market but losses in the…
Nigeria’s FDI Plummets 70% in Q1 as Investors Shift to Short-Term Assets
Foreign Direct Investment (FDI) into Nigeria dropped sharply by 70.06% in the first quarter of 2025, falling to $126.29 million…
Nigerian Bank Customers Protest Excessive Charges, Urge CBN and NDIC to Intervene
Bank customers across Nigeria are voicing strong dissatisfaction over what they describe as excessive and frequent debit alerts on their…
NSIA Expands Fertiliser Plants From 4 to 92, Hands Over PFI Management to MOFI
The Nigeria Sovereign Investment Authority (NSIA) has achieved a major milestone in Nigeria’s agricultural sector, increasing the number of operational…
NGX Group Launches Project BLOOM to Tackle Child Malnutrition in Lagos Underserved Communities
Employees of the Nigerian Exchange Group (NGX Group) have embarked on a volunteer-driven mission to combat child malnutrition in underserved…
Surge in Nigerian Stock Market Valuations: 18 Companies Now Valued Over $1 Billion in 2025
The Nigerian Exchange (NGX) has been one of Africa’s top-performing stock markets in 2025, with its All-Share Index rising by…
FG Advances Local Energy Supply Chain to Mitigate Global Disruptions and Boost Investment
The Federal Government of Nigeria is taking proactive measures to strengthen the country’s local energy supply chain amid increasing global…
FCMB Pensions Limited Tops Nigerian Pension Fund Performance with 5.68% Return in July 2025
Nigeria’s pension industry demonstrated resilience in July 2025, delivering positive returns across all Retirement Savings Account (RSA) fund categories despite…
Abuja to Host Over 500 Global Investors at 2025 Business Investment Expo to Boost Emerging Markets
The Abuja Investment Company Limited (AICL) has announced that over 500 high-level participants from 40 countries are expected to attend…
Reforms Drive Nigerian Stock Market Rally as Insurance Sector Leads Gains Amid 26-Day Bull Run
The Nigerian equities market sustained a remarkable 26-day bullish run, adding N479 billion to its total value, fueled notably by…
FG Should Have Sold Refineries to Dangote, Says Economist Bismark Rewane; Advocates Airport Concessions Over Renovations
Foremost economist and CEO of Financial Derivatives Company (FDC), Mr. Bismark Rewane, has criticized the Federal Government’s handling of state-owned…
One-Year T-Bill Yields Edge Up to 19.76% as DMO, Investors Wrestle Over Rates
In a shift from recent trends, the yield on Nigeria’s one-year treasury bills rose to 19.76% at the latest primary…
Nigeria’s Banks Attract $7 Billion in ‘Hot Money’ as Foreign Inflows Surge — Experts Warn of Economic Risks
In 2024, Nigeria’s banking sector saw an unprecedented influx of $7 billion from foreign investors, marking the highest capital inflow…
Nigeria to Launch Industrial Policy to Boost Manufacturing, Reduce Raw Material Exports
The Federal Government of Nigeria is finalizing a new comprehensive Nigerian Industrial Policy aimed at reducing the country’s heavy reliance…