Nigerian Banks Progressing Towards Meeting 2026 Recapitalisation Deadline – Fitch Ratings
Fitch Ratings has reported that Nigerian banks are on track to meet the Central Bank of Nigeria’s (CBN) recapitalization deadline…
Category: Local
Telecom Tariff Hike Sparks Backlash as NLC Calls for Boycott and Subscribers Demand Sanctions
Telecom operators in Nigeria are facing a strong backlash after implementing a 50% tariff hike despite an ongoing review process.…
Tinubu Hails $50M IFC Investment in Lagos Free Zone
President Bola Tinubu expressed his appreciation for the International Finance Corporation’s (IFC) $50 million equity investment in the Lagos Free…
External Influences and Internal Struggles Hinder ECOWAS’ Aspirations– Prof. Otubanjo
The Economic Community of West African States (ECOWAS) has faced significant challenges in achieving its core objectives, not only due…
Foreign Portfolio Investments in Nigeria Surge 126.8% in 2024
Foreign Portfolio Investments (FPIs) into Nigeria’s stock market saw a remarkable increase of 126.8% in 2024, reaching N396.4 billion, up…
CBN Scraps Free ATM Withdrawals, Introduces New Charges: Bank Customers Express Concerns
In a recent move by the Central Bank of Nigeria (CBN), the institution has announced the scrapping of free ATM…
Nigeria’s Economic Reset: The Crucial Role of Data Integrity in National Recovery
Nigeria is currently navigating an economic reset to address the persistent challenges it faces, including sluggish growth, high inflation, and…
Nigeria, UAE Strengthen Aviation Ties with Amended Bilateral Air Service Agreement
Nigeria and the United Arab Emirates (UAE) have signed an amended Bilateral Air Service Agreement (BASA), aimed at enhancing aviation…
Telecom Tariff Hike: House of Reps Demands Reversal Amid Economic Concerns
The long-awaited 50% tariff increase by Nigerian telecommunications operators has officially begun, following approval from the Nigerian Communications Commission (NCC).…
Nigerian Equity Market Maintains Bullish Momentum with N426bn Gain
The Nigerian equity market continued its positive trajectory on February 12, 2025, with investors gaining N426 billion as the market…
Senate Proposes N10bn for Capital Market Awareness to Boost Investor Participation
In a recent proposal, the Nigerian Senate suggested allocating N10bn to fund investor education in the capital market as part…
Stabilizing Naira and Slower Price Increases Ease Business Costs in January
In January 2025, the Nigerian business environment saw a reduction in operating costs, primarily due to the stability of the…
NAICOM’s Reform Plans to Strengthen Nigeria’s $1 Trillion Economy
The Commissioner for Insurance and CEO of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, outlined plans for institutional reforms…
Dangote Refinery Set to Reach Full Capacity in 30 Days, Boosting Nigeria’s Economic Recovery
Nigeria’s Dangote Refinery, the largest in Africa, is set to operate at full capacity within the next 30 days, as…
CBN Facilitates $5.63 Billion in International Payments Amid Economic Challenges in 2024
The Central Bank of Nigeria (CBN) facilitated $5.63 billion in international payments during the first nine months of 2024, marking…
CBN Reschedules February 2025 MPC Meeting Amid CPI Release Delays
The Central Bank of Nigeria (CBN) has officially announced a new date for its 299th Monetary Policy Committee (MPC) meeting,…
COMAC Demands Independent Audit of Gold-for-Oil Program Amid Financial Concerns-GHANA
The Chamber of Oil Marketing Companies (COMAC) is urging for an independent audit of the Bulk Energy Storage and Transportation…
VP Shettima Launches Committee to Drive Nigeria’s Trillion-Dollar Economic Vision by 2030
Vice President Kashim Shettima recently inaugurated the Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of the Nigerian…
MOFI Launches N100bn Series 2 Offering to Tackle Nigeria’s Housing Deficit
The Ministry of Finance Incorporated (MOFI) has launched a N100 billion Series 2 offering under the MOFI Real Estate Investment…
Naira’s Strong Rally Disrupts FX Market Amid Dollar Sell-off and Reform Uncertainty
The Nigerian naira has seen a notable appreciation, catching traders in the foreign exchange (FX) market off-guard, particularly within the…
Nigerian Stock Market Dips as Zenith Bank Leads Profit-Taking Activity
The Nigerian stock market opened the week on a mixed note, with the All-Share Index (ASI) declining by 0.04% due…
Nigeria Set to Benefit from $4.4 Billion Investment in Agro-Industrial Zones
The African Development Bank (AfDB) has announced a significant $4.4 billion investment aimed at expanding the Special Agro-Industrial Processing Zones…
Nigeria’s Crude Oil Production Costs Spark Concerns as Expenditures Soar to N18tn Annually
Nigeria is facing growing concerns over the high cost of crude oil production, with industry experts warning that the country…
FBN Holdings Reports 154% Surge in Net Interest Income Due to Rate Hike
FBN Holdings experienced a significant 154.5% rise in its net interest income for the year 2024, largely due to the…
IFC invests $50 million in Lagos Free Zone to boost Nigeria’s industrial growth
The International Finance Corporation (IFC) has pledged a $50 million equity investment in the Lagos Free Zone (LFZ) to support…
CBN Unveils New Inflation Targeting Framework to Tackle Economic Challenges
The Central Bank of Nigeria (CBN) has initiated a new phase in combating inflation, implementing an inflation targeting framework designed…
Imported Inflation: Nigeria’s Struggle for Price Stability
Muhammad Abdullahi, a member of Nigeria’s Central Bank Monetary Policy Committee (MPC), highlighted the challenges posed by imported inflation on…
CBN postpones February MPC meeting as NBS delays rebased CPI report
The Central Bank of Nigeria (CBN) has delayed its first Monetary Policy Committee (MPC) meeting for 2025 until March due…
Naira Rebound: Investors favour 364-day bonds, Treasury Bills
As the Nigerian naira strengthens, there has been a surge in demand for long-term fixed-income instruments. Investors are increasingly favouring…
The Future of Borrowing; Fintech’s Challenge to Traditional Banks
In 2021, Joe Michael turned to his bank for a personal loan but was discouraged by the extensive documentation and…