Naira Holds Steady as CBN Extends Dollar Access to Bureau De Change Operators
The naira remained stable across Nigeria’s foreign exchange (FX) markets on Tuesday, as reduced dollar demand and improved liquidity followed…
Category: Local
FG to Issue N758bn Bonds to Clear Pension Debts, Boost Economy
The Federal Government of Nigeria has announced plans to issue bonds worth N758bn to clear outstanding pension debts under the…
NPA goes tough on use of NXP for export cargos
The Nigerian Ports Authority (NPA) has mandated the enforcement of the Nigeria Export Proceed (NXP) as a key requirement for…
NUPRC cracks down on IOCs, others over crude oil diversion
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a stern warning to International Oil Companies (IOCs) and independent producers…
FG Approves N4.2 Trillion for Major Infrastructure Projects, Unveils Plan to Boost Creative Economy
The Nigerian federal government has approved road infrastructure projects totaling N4.2 trillion, including key highways, bridges, and the second phase…
CBN extends $25,000 weekly forex sales to BDCs
The Central Bank of Nigeria (CBN) has announced an extension of the temporary arrangement that allows Bureau de Change (BDC)…
Oil firms must supply local refineries or lose export permits – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a directive compelling oil exploration and production companies to strictly adhere…
Insurers given six months to perfect annuity irregularities
The National Insurance Commission (NAICOM) has given life insurance operators six months to fully comply with new annuity guidelines introduced…
OPEC to monitor oil production compliance as Nigeria eyes 2.7mbpd
Nigeria has set an ambitious goal to increase its oil production to 2.7 million barrels per day (bpd) by 2027,…
Telecom tariff hike: NLC suspends planned nationwide protest
The Nigeria Labour Congress (NLC) has suspended its planned nationwide protest, which was set for February 4, 2025, in response…
Africa’s Climate Crisis: A Struggle It Didn’t Cause but Can’t Escape
Despite contributing just 4% of global carbon emissions, Africa faces the worst consequences of climate change. The continent is already…
FG Clarifies Position on Electricity Tariff Hike, Says N200bn Paid on Subsidy Monthly
The Federal Government has denied reports suggesting a 65% increase in electricity tariffs, calling them a misrepresentation. According to the…
Nigeria’s business confidence rises as PMI hits 52.0 in January 2025
Nigerian businesses have shown resilience in the face of economic challenges, as reflected by the Stanbic IBTC Bank Nigeria Purchasing…
Naira appreciates to N1,605/$1 in parallel market on Monday
The Nigerian naira showed a significant recovery in the parallel market on Monday, appreciating by N5 against the US dollar.…
CBN: Banking stocks surge 9.8% m/m as DMBs ramp up capital raising efforts
The Nigerian banking sector has seen a remarkable 9.8% month-on-month surge in banking stocks, driven by the Central Bank of…
AVA unveils money market fund
AVA Global Asset Managers Limited (AVA GAM) has launched its Money Market Fund, which has been approved by the Securities…
Stock Market Gains N83bn on Demand for MTN, 20 Others
The Nigerian Exchange Limited (NGX) opened the new week with a positive market performance, recording an N83 billion increase in…
CBN Reaffirms Commitment to Empower Nigerian Youth Through Credit Policies and Capacity Building
The Central Bank of Nigeria (CBN) has reaffirmed its dedication to empowering Nigerian youth by enhancing credit policies and capacity-building…
Nigeria Launches FX Code to Transform Foreign Exchange Market with Integrity and Transparency
Nigeria has officially launched the Nigeria Foreign Exchange (FX) Code on January 28, 2025, marking a major milestone in its…
Nigeria Urged to Adopt Asset-Based Financing for Economic Growth
As Nigeria aims to grow its economy to $1 trillion by 2030, experts have advised the Federal Government (FG) to…
FCMB Group Lists 19.8 Billion Shares on NGX Following Oversubscribed Public Offer
FCMB Group Plc has successfully listed 19.8 billion shares on the Nigerian Exchange Group (NGX) after a highly subscribed public…
Cautious Optimism as Nigeria Lifts Zamfara Mining Ban Amid Rising Gold Demand
The Federal Government of Nigeria has lifted the five-year ban on mining activities in Zamfara State, a region rich in…
PTAD Clears N1.18bn in Pension Arrears Amid Ongoing Retiree Concerns
The Pension Transitional Arrangement Directorate (PTAD) has disbursed N1.18bn in pension arrears over the past five years, benefiting thousands of…
Mobile money: Palmpay, OPay, others process N71.5 trillion transactions in 2024
Mobile money transactions in Nigeria have experienced remarkable growth, with the latest data from the Nigeria Inter-Bank Settlement Systems (NIBSS)…
Implications of rebasing Nigeria’s CPI to 2024: A double-edged sword
Nigeria has rebased its Consumer Price Index (CPI) to 2024, significantly affecting how inflation is measured. This move aligns with…
ABCON seeks review of capital requirements for BDCs
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to reconsider…
CBN Reports Record N9.39tn Bank Deposits In January Amid Surging Liquidity
In January 2025, Deposit Money Banks (DMBs) in Nigeria deposited a record N9.39 trillion in excess liquidity with the Central…
NGX Delists Tourist Company of Nigeria, Union Homes Savings & Loans Over Non-Compliance
The Nigerian Exchange Limited (NGX) has delisted two companies Tourist Company of Nigeria Plc and Union Homes Savings & Loans…
SEC Reaffirms Commitment to Women’s Financial Inclusion in Nigeria
The Securities and Exchange Commission (SEC) has reiterated its dedication to fostering financial inclusiveness for women in Nigeria. Speaking at…
BUA Foods Posts Record N275bn Profit in 2024, Achieves 145.3% Growth
BUA Foods Plc has announced a remarkable 145.3% increase in profit after tax, reaching N274.95 billion for the fiscal year…