FG unveils Digital Trade Desk to boost Nigerian startup funding to $5bn
The Nigerian government has introduced a new initiative called the Digital Trade Desk, aimed at accelerating funding for local startups.…
Category: Local
Stock Price of FBN Holdings Crashes by 5.63%
The stock price of FBN Holdings Plc fell by 5.63% on the Nigerian Exchange Limited (NGX), closing at ₦28.50 per…
FX Appetite Drives 79.4% Surge in Mutual Funds to N3.8 Trillion
The growing appetite for foreign currency investments, especially dollar-denominated assets, has propelled Nigeria’s mutual funds to a record N3.829 trillion,…
Value of eNaira rises by 57% to N18.32 bn
The value of the eNaira, Nigeria’s digital currency introduced by the Central Bank of Nigeria (CBN) in 2021, increased significantly…
Naira appreciates to N1,655/$ in parallel market
The Naira appreciated in the parallel market yesterday, trading at N1,655 per dollar compared to N1,665 last weekend. However, according…
Investors lose N51bn as equity market shrinks
The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn. The NGX All-Share…
December inflation projected to hit 35.20%
Nigeria’s inflation rate is projected to rise to 35.20% in December 2024, driven by persistent price pressures, according to the…
Nigerian Banks’ Market Capitalisation Hits N7.90tn
Eleven Nigerian banks have collectively achieved a market capitalization of N7.90tn, showcasing varying performance across the sector. Zenith Bank PLC…
BREAKING: Mojisola Meranda Emerges New Lagos Assembly Speaker After Mudashiru Obasa’s Impeachment
Hon. Mojisola Lasbat Meranda has been elected as the new Speaker of the Lagos State House of Assembly, Mudashiru Obasa,…
Nigeria’s Foreign Trade by LC Payments Down 52.5% YoY to $506.1m
Nigeria’s foreign trade by Letter of Credit (LC) payments declined by 52.5% Year-on-Year (YoY) to $506.1 million in the first…
Investors Return Rise by N1.13trn as Stock Market Surge Further
In the second week of trading in 2025, Nigerian stock market investors experienced a significant surge, in market capitalization growing…
CBN unveils diaspora-friendly accounts to boost investments
The Central Bank of Nigeria (CBN) has introduced two new accounts designed to attract investments from Nigerians living abroad. The…
Nigerian Firms Shortlisted in UNDP’s Africa’s 15 Startups for Next HealthTech Programme
The United Nations Development Programme (UNDP) Africa, has unveiled 15 groundbreaking startups for its HealthTech Hub program, including three Nigerian…
FG sets up a special unit as implementation of LGA financial autonomy begins
The Federal Government of Nigeria, through the Office of the Accountant-General of the Federation (OAGF), has set up a dedicated…
Experts project 3.5% economic growth for Nigeria in 2025
Experts forecast Nigeria’s economy to grow by 3.5% year-on-year in 2025, a slight improvement from the estimated 3.2% in 2024,…
NGX hauls N12.2trn from bonds, listings in 2024
The Nigerian Exchange Limited (NGX) achieved a remarkable milestone in 2024, recording N12.17 trillion from Federal Government (FGN) bonds and…
GTCO’s N400.5bn Public Offer Falls Short by 48%
Guaranty Trust Holding Company Plc (GTCO) has revealed that its N400.5 billion public offer was undersubscribed by 48%, raising only…
The oil and gas sector received 31.1% of banks’ credit allocation in Q3 2024 –CBN
In the third quarter of 2024, the oil and gas sector secured 31.1% of Nigeria’s total credit allocation from deposit…
NAHCO Appoints Olumuyiwa Olumekun as GMD/CEO Following Gupta’s Retirement
The Nigerian Aviation Handling Company PLC (NAHCO) has named Mr. Olumuyiwa Olumekun as its new Group Managing Director/Chief Executive Officer,…
CBN expected to hold MPR for most of 2025
Asset management firm Meristem Securities has projected that the Central Bank of Nigeria (CBN) will likely maintain its Monetary Policy…
Nigeria secured $7.6bn investments at Africa forum – Adesina
Nigeria has attracted $7.6 billion in investment commitments at the Africa Investment Forum 2024, held in Rabat, Morocco, from December…
Recapitalization and Regulatory Shifts Reshape Nigerian Banking Sector in 2024
The Nigerian banking sector experienced a transformative 2024, driven by the Central Bank of Nigeria’s (CBN) recapitalization directive to support…
Lagos Speaker Faces Alleged Financial Mismanagement Scandal
Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is facing renewed allegations of financial impropriety and mismanagement, raising…
Guinea Insurance Targets N1.75bn Gross Premium Written in Q1 2025
Guinea Insurance has projected a gross premium written (GPW) of N1.75 billion for the first quarter of 2025, according to…
Inflation and Naira Stabilisation Expected in 2025
In 2025, experts forecast that inflation in Nigeria may begin to moderate, offering a potential easing cycle for the economy.…
Bonds under pressure as stocks tumble amid UK gilt worries and US policy uncertainty
Global financial markets faced turbulence as bond yields soared and stocks fell, driven by concerns over rising inflation, reduced chances…
Telecom tariff hike imminent – FG
The Federal Government has announced plans to increase telecommunication tariffs, though not as high as the 100 percent requested by…
Micro Pension Plan Struggles to Gain Traction Despite Policy Efforts
Five years after its launch in 2019, Nigeria’s Micro Pension Plan (MPP) remains underwhelming in its adoption, despite deliberate policy…
Naira down to N1,655/$ in parallel market
The Naira experienced further depreciation in the parallel market, sliding to N1,655 per dollar from N1,650 the previous day. Similarly,…