Nigeria’s Electronic Transactions Surge to N1.08 Quadrillion in 2024, Up 79%
Nigeria’s electronic payment ecosystem experienced remarkable growth in 2024, with transactions reaching an all-time high of N1.08 quadrillion. This marks…
Category: Local
Unilever posts N4.9bn profit
Unilever Nigeria Plc posted a profit of N4.9bn for the fourth quarter of 2024, reflecting a 29% decline from the…
TotalEnergies records N1.04tn revenue
TotalEnergies Marketing Nigeria Plc has posted impressive financial results for the year ending December 31, 2024, reporting a significant revenue…
Nigeria Joins International Port Community System Association to Enhance Maritime Operations
The Nigerian Ports Authority (NPA) has announced that Nigeria has been admitted as a member of the International Port Community…
Sustainable Capital Acquires 9.96% Stake in Seplat Energy, Strengthening Influence
Sustainable Capital Ltd, a Mauritius-based investment firm, has secured a 9.96% stake in Seplat Energy Plc, gaining voting rights in…
ABCON Calls For BDCs’ Merger Ahead Of June Recapitalisation Deadline
The Association of Bureau De Change Operators of Nigeria (ABCON) has called on Bureau de Change (BDC) operators to consider…
FG secures $1.1bn AfDB loan to power 5m people by 2026 — Tinubu
The Federal Government of Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to provide electricity…
Market integrity: NGX RegCo, EFCC deepen collaboration
NGX Regulation Limited (NGX RegCo) and the Economic and Financial Crimes Commission (EFCC) have agreed to enhance their collaboration to…
Naira Sustains Gain On Parallel Market, Weakens To N1,534/$1 On NEFM
The naira saw a continued appreciation in the parallel market for the second consecutive day, rising by N10 to reach…
Demand for Aradel Holdings, 25 Others Lift Stock Market by N365bn
Aggressive investor demand for Aradel Holdings Plc and 25 other companies boosted the Nigerian stock market by N365 billion. The…
Nigerian Banks Lead Investment Drive Towards $1 Trillion Economy Goal
President Bola Tinubu has reaffirmed his administration’s commitment to achieving a $1 trillion economy by 2026, leveraging a combination of…
CBN nears completion of $2.4bn FX backlog verification, payments to begin soon
The Central Bank of Nigeria (CBN) is finalizing the verification process for the remaining $2.4 billion foreign exchange (FX) backlog,…
Cashless economy deepens as electronic transactions hit N1.08qd
Nigeria’s electronic transactions surged by 79% in 2024, reaching a record N1.08 quadrillion, according to data from the Nigeria Inter-Bank…
Equity market reverses loss, investors gain N364bn
The Nigerian Stock Exchange saw a reversal in market losses on Tuesday, with investors gaining N364bn as the All-Share Index…
NECA Applauds CBN’s FX Code, Calls for Effective Implementation
The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for introducing the Nigerian Foreign Exchange…
Four FCMB customers win N1m each
First City Monument Bank (FCMB) has rewarded four customers with N1 million each in the first draw of its Millionaire…
Outstanding $7bn FX cleared, says Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced that the government has successfully cleared a $7…
FG Partners with Portsmouth University to Boost Oil & Gas Capacity in Nigeria
The Nigerian government has signed a Memorandum of Understanding (MoU) with the University of Portsmouth (UoP) to enhance local capacity…
Three Key Strategies for Improving Nigeria’s Business Environment in 2025
As Nigeria seeks to attract more investments and improve its business environment in 2025, achieving monetary and fiscal stability is…
CBN Waives N250,000 BDCs’ Annual Licence Renewal Fee for 2025
In a bid to streamline operations and foster stability in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN)…
Telcos urge PRC to review annual due payment
Telecom operators in Nigeria have raised concerns over the revised annual payment structure under the Financial Reporting Council Amendment Act…
Telecoms 50% tariff hike: Subscribers head for court as NCC talks deadlocked
Nigerian telecom subscribers, led by the National Association of Telecommunications Subscribers (NATCOMS), are taking legal action against the Nigerian Communications…
MRS, others drag equity market to N284bn loss
The Nigerian Exchange (NGX) closed Tuesday’s trading session in negative territory, with the All-Share Index dropping by 0.44% to 103,958.75…
Heavy sanctions for FX code breaches, CBN warns banks
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has warned financial institutions that violations of the newly introduced Nigeria…
FG invests N150bn in real estate fund
The Federal Government of Nigeria, through the Ministry of Finance Incorporated (MOFI), has fully subscribed to the N150bn Series 1…
Nigeria secures $1.1bn AfDB fund to power 5m people by 2026 – Tinubu
Nigeria’s President Bola Tinubu has secured a $1.1 billion fund from the African Development Bank (AfDB) aimed at providing electricity…
MTNN CEO confident regulator’s service quality deadline possible
MTN Nigeria’s CEO, Karl Toriola, has expressed confidence that the company will meet the Nigerian Communications Commission’s (NCC) three-month service…
Nigeria mulls fresh energy subsidy in $15bn investor pitch – Bloomberg
Nigeria is making a fresh push to attract investors into its struggling power sector by proposing higher tariffs while reintroducing…
Senate threatens to arrest HYPREP coordinator over $360m Ogoni cleanup
The Nigerian Senate’s Public Accounts Committee has warned Professor Nenibarini Zabbey, Coordinator of the Hydrocarbon Pollution Remediation Project (HYPREP), that…
CBN releases Nigeria FX code to mitigate financial risks
The Central Bank of Nigeria (CBN) has introduced the Nigeria Foreign Exchange (FX) Code to reduce financial risks amidst significant…