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…
Category: Local
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…
Foreign Investors Flock to Naira Assets as Reforms Boost Market Confidence
Recent reforms by the Central Bank of Nigeria (CBN) have spurred increased foreign investor interest in naira assets. The implementation…
Stock Market Gains Over N1 Trillion Amid Mixed Sentiments on Earnings and Dividends
The Nigerian stock market experienced mixed sentiments last week as corporate earnings reports for Q4’24 influenced investor decisions. While some…
JP Morgan delegation meets Edun on investment opportunities
A high-level delegation from JP Morgan, led by Dapo Olagunju, Head of JP Morgan West Africa, met with Nigeria’s Minister…
PenCom: Informal Sector RSA Holders Save N967m Under Micro Pension Plan
The National Pension Commission (PenCom) has disclosed that 12,241 Retirement Savings Account (RSA) holders in the informal sector have contributed…
Strategic CSR Investments: Maximizing Impact for Sustainable Humanitarian Development
In an era of growing economic disparities, investing in humanity through Corporate Social Responsibility (CSR) is more than just an…
Naira Strengthens as Nigeria Clears $7bn Forex Backlog, Boosting Market Confidence
The Nigerian naira appreciated by 3.68% against the U.S. dollar last week, closing at ₦1,474.78/$, following the Federal Government’s clearance…
Nigerian Equity Market Gains N1.1tn in One Week as ASI Hits 104,496.12
The Nigerian equity market recorded a significant gain of N1.1tn in one week, with the All-Share Index (ASI) closing at…
Naira Appreciates to Seven-Month High, Gains N63 Against Dollar
Nigeria’s exchange rate strengthened significantly in January 2025, appreciating by N63.72 to close at N1,474.78 per dollar on January 31,…
DMO announces results of January 2025 FGN bond auction, raises N669.94 billion
The Debt Management Office (DMO) of Nigeria announced the successful completion of its January 2025 Federal Government Bond Auction, raising…
Aradel reports N321.6 billion pre-tax profits, up 187% YoY
Aradel Holdings Plc posted an impressive N321.6 billion profit before tax for the 2024 financial year, marking a 187% increase…
FG launches framework to attract direct investment
The Federal Government of Nigeria has launched the Regulatory Impact Analysis (RIA) Framework to enhance the business environment and attract…