Total inflows into NAFEM grew to $4.05bn in November –FMD
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total inflows rising by 32.9% month-on-month to…
Category: Local
Nigerian Banks Record N6.5 Trillion Loan Income Amid Rising Interest Rates
Amid a steep rise in the Central Bank of Nigeria’s (CBN) Monetary Policy Rate (MPR), Nigerian banks generated N6.5 trillion…
Banks raise withdrawal limit to N50,000
Deposit Money Banks in the Federal Capital Territory have increased their maximum over-the-counter daily withdrawal limit to N50,000, a significant…
Wema Bank awards N145m to outstanding innovators
Wema Bank has successfully concluded the 5th edition of its Hackaholics initiative, awarding N145 million to seven outstanding startups in…
FCMB Millionaire Promo Set to Reward 20 Customers Nationwide
First City Monument Bank has launched the 10th edition of its ‘Millionaire Promo,’ designed to reward and empower customers across…
Experts Advocate Green Building For Sustainable Financing—Ecobank Expo
At the Ecobank Design and Build Expo in Lagos, industry leaders stressed the importance of adopting green building practices to…
Nigeria’s insurance market’s premium hits N813.1b
Nigeria’s insurance industry achieved a significant milestone with Gross Premium Written (GPW) reaching N813.1 billion in Q2 2024, marking a…
FCCPC Engages GT Bank, MTN, Air Peace Over Possible Violation
The Federal Competition and Consumer Protection Commission (FCCPC) is set to address consumer complaints against Guaranty Trust Bank (GTB), MTN…
CBN’s interest rate hike deflates stock market performance
The Nigerian Exchange Limited (NGX) closed last week on a negative note, reflecting the impact of the Central Bank of…
NASD seeks compliance with SEC’s rule on trading unlisted securities
The NASD OTC Exchange has called on public limited companies to adhere to a Securities and Exchange Commission (SEC) rule…
CBN Raises N11.29trn Via NTBs as 364-Day Yield Hit 23.5%
In 2024, the Central Bank of Nigeria (CBN) successfully raised N11.29 trillion through Nigerian Treasury Bills (NTBs), marking a 106.4%…
Equity market loses N185bn in one week
The Nigerian equity market experienced a decline of N185bn last week as the All-Share Index dropped by 0.33%, closing at…
CBN Launches New User-Friendly Website to Boost Transparency
The Central Bank of Nigeria (CBN) has unveiled its newly redesigned website today, December 2, 2024. According to a statement…
Innovative Financing Crucial to Africa’s Maritime Growth Says NIMASA DG
Dr. Dayo Mobereola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), has called for innovative financing models…
Stanbic IBTC Bank Launches Senior Citizens Account for Nigerians Aged 50 and Above
Stanbic IBTC Bank has introduced the Senior Citizens Account, a specialized banking service tailored for Nigerians aged 50 and older.…
Pension Administrators Crucial to Retirement Financial Security
Pension administrators play a pivotal role in securing the financial well-being of contributors under the Contributory Pension Scheme (CPS), according…
Services and Oil Drive Nigeria’s Economic Growth to 3.46% in Q3 2024
Nigeria’s economy grew by 3.46% year-on-year in the third quarter of 2024, outperforming the 2.54% growth recorded in the same…
Access Bank Debunks Missing Funds Allegation Amid Naira Scarcity
Access Bank has categorically denied allegations of missing funds and unethical practices circulating on social media. In a statement, the…
Customs Revenue Increases By 94% At Lagos Airport, Generates N144.2bn
The Murtala Muhammed Airport Command of the Nigeria Customs Service (NCS) reported a remarkable 94% increase in revenue generation for…
Sanwo-Olu presents N3trn budget proposal
It has been christened: “BUDGET OF SUSTAINABILITY” with the capital: N 1.7t (59%) and recurrent: N1.2t (41%). The year 2024…
We’ve Started Seeing Positive Results From Our Reforms – Tinubu Tells IMF Chief
President Bola Tinubu has said Nigerians are now seeing the positive results of his administration’s reforms. Since he assumed office…
Senate Approves Tinubu’s Fresh $2.2bn Loan Request
The Senate, on Thursday, approved the $2.2 billion fresh loan request by President Bola Ahmed Tinubu. The decision was sequel…
Decline in Commercial Paper and Corporate Bond Issuances Amid Rising Borrowing Costs
In the first half of 2024, the Nigerian capital market saw a significant drop in commercial paper and corporate bond…
Nigeria’s Economy Stable and Ready for Investment
Nigeria’s Finance Minister, Wale Edun, has declared the country’s macroeconomic environment stable and conducive to investment. Speaking at the National…
Federal Government working on industrial relations policy
The Federal Government, through the Minister of Labour and Employment, Muhammadu Dingyadi, is developing a national policy on industrial relations…
TotalEnergies Unveils Competitive Entry Cost and Bonuses to Boost Oil Sector Growth
TotalEnergies has outlined five key propositions to revitalize Nigeria’s struggling oil and gas sector, which has faced underinvestment, declining production,…
Guinea Insurance Achieves Strong Growth in Revenue and Profit Through Strategic Expansion
Guinea Insurance Plc reported significant financial growth for 2023, with revenue rising by 49.4% to N2.077 billion from N1.390 billion…
Moniepoint, Yellow Card lead Africa start-ups funding
In October, African start-ups secured over $250 million in funding, with Nigeria leading the continent’s investment landscape. Fintech giant Moniepoint…
APMT Apapa Says Port Delays Caused by Poor Policy Enforcement
Kayode Daniels, the Head of Commercial at APM Terminals Apapa, clarified that cargo delays at Nigerian ports are primarily caused…
Beiersdorf Clarifies Discontinuation of NIVEA Deodorant Amid NAFDAC Safety Alert
Beiersdorf, the German multinational known for its NIVEA Black & White Invisible Roll-on deodorant, has responded to a safety alert…