Wealth Soars by N505 Billion Amid Gains in BUA Foods, Eterna, and Others
The Nigerian Exchange Limited (NGX) closed on a positive note yesterday, reversing previous losses, thanks to strong performances from prominent…
Category: Local
Nigerian Researcher Develops AI-Powered ESG Model to Enhance Corporate Sustainability
Feyisayo Michael, a Nigerian-born Chartered Accountant and AI sustainability expert, has unveiled an innovative AI-powered carbon accounting model designed to…
CBN Orders Immediate Resignation of Bank Directors Over Non-Performing Insider Loans
Insider loans are loans granted by a bank or financial institution to its own executives, directors, employees, major shareholders, or…
CBN Governor Advocates Stronger Ties with Middle East
In a move to bolster economic relations, Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has called…
Naira Devaluation Exaggerates Nigeria’s Non-Oil Export Growth Despite Struggling Sector
Nigeria’s non-oil export sector showed growth in 2024, with the Nigerian Export Promotion Council (NEPC) reporting a rise to N9.65…
CBN Forecasts Job Growth Across Sectors by February 2025
The Central Bank of Nigeria (CBN) has forecasted a positive outlook for job growth and increased employment opportunities across various…
CBN Introduces Key Reforms to Safeguard Nigeria’s Financial System
The Central Bank of Nigeria (CBN) plays a vital role in ensuring the stability of Nigeria’s financial system, which is…
Nigeria’s Foreign Reserves Exceed $40 Billion as CBN Strengthens Forex Market
Nigeria’s foreign reserves have exceeded the $40 billion mark for the first time in three years, marking a significant milestone…
Bond Investors Urged to Rethink Strategies as Interest Rate Cuts Loom
Bond investors are being urged to reconsider their strategies as projections grow regarding a potential interest rate cut by the…
NBS Reports Inflation Decline to 24.48% in January After CPI Rebasing
The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate for January 2025 stands at 24.48%, a significant…
Dangote: $23bn Refinery Project Was the Biggest Risk of My Life
Billionaire Aliko Dangote has shared that his $23 billion Dangote Refinery project was the biggest risk of his life, highlighting…
Inflation Pushes Consumer Credit to N4.42tn in November, CBN Report Shows
Nigeria’s consumer credit outstanding surged by 26.29% in November 2024, reaching a record N4.42 trillion, up from N3.5 trillion in…
FG Advocates for Equitable Visa Policies to Boost Nigeria’s Global Trade Expansion
The Nigerian government is advocating for more relaxed and equitable visa policies to support Nigerian businesses in their efforts to…
Understanding cNGN: Nigeria’s Newly Launched Stablecoin
cNGN is Nigeria’s stablecoin, designed to maintain a fixed value for practical uses like payments, remittances, and trading. Unlike volatile…
CBN: Nigeria’s Economy Expands for Second Month, Led by Industry and Agriculture
Nigeria’s economic expansion continued in January 2025, marking the second consecutive month of positive growth, according to the latest Purchasing…
Nigeria’s Cyber Threat Risk Rises as Attacks Surge, Now Ranked 11th in Africa
Nigeria’s cyber threat risk has significantly increased, with the country now ranked 11th on the Cyber Threat Index for African…
Banks and Fintechs in Nigeria Embrace Blockchain to Boost Financial Services
In early January 2025, PalmPay, a fintech platform, announced its integration of blockchain technology to improve transaction reliability, setting a…
NGX Sees Significant Surge in Equity Transactions, Reaching N5.59 Trillion in 2024
The Nigerian Exchange Limited (NGX) reported a remarkable surge in equity transactions for 2024, with the total value rising to…
Naira Strengthens at Parallel Market, Weakens on Official Exchange Rate
In the past week, the naira exhibited a mixed performance across different segments of the foreign exchange market, reflecting the…
Increased Oil Production Key to Tackling Inflation and FX Volatility, Says Agusto & Co.
Agusto & Co., a Pan-African credit rating agency, has stressed the importance of increased crude oil production in addressing Nigeria’s…
Federal Government Launches Construction of Emerging Technologies Institute in Kano
The Federal Government of Nigeria has officially launched the construction of the Sustainable & Emerging Technologies Institute (SETI) in Kano,…
Nigeria’s Personal Loans Surge to N3.32tn Amid Rising Inflation, CBN Reports
In November 2024, Nigeria’s personal loan portfolio saw a dramatic increase of 37.76%, rising to N3.32 trillion, according to the…
Nigerian Equity Market Records N1.83tn Gain in One Week
The Nigerian equity market achieved a significant gain of N1.83 trillion last week, with the All-Share Index (ASI) and Market…
Equity Market Soars by N779bn as Nigerian Exchange Hits N67.3tn
On Wednesday, February 13, 2025, the Nigerian equity market experienced a significant surge, with investors gaining N779 billion. The market…
Consumer Group Urges Caution on Proposed Electricity Tariff Increase, Citing Power Supply Issues
A consumer group, the Nigeria Consumer Protection Network (NCPN), has voiced its concerns over the Federal Government’s plans to increase…
Nigerian Stock Market Hits N67 Trillion as VFDGROUP and IKEJAHOTEL Lead Gains
The Nigerian stock market closed on a high note on February 12, 2025, with the All-Share Index (ASI) rising by…
NLC Threatens Nationwide Telecom Shutdown Over 50% Tariff Hike
The Nigeria Labour Congress (NLC) has issued a strong warning to telecommunications companies, demanding an immediate reversal of a 50%…
Nigeria Aims to Lead Africa’s AI Revolution, Partners with Google for Digital Transformation
President Bola Tinubu has expressed his vision for Nigeria to become the leader in artificial intelligence (AI) innovation across Africa.…
NEITI and TETFund Partner to Enhance Transparency in Education Tax Remittances in Nigeria
The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Tertiary Education Trust Fund (TETFund) have strengthened their collaboration to ensure…
House of Representatives Passes Four Tax Reform Bills for Second Reading
The House of Representatives has passed four significant tax reform bills for second reading, marking an important step toward overhauling…