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…
Category: Local
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,…
MTN Nigeria and Transcorp Lead as Nigerian Stock Market Gains N507bn
Investors on the Nigerian Exchange witnessed a significant gain of N507 billion on Wednesday, with market capitalization rising to N63.56…
Concessional Borrowing Key to Addressing Nigeria’s Debt Challenges
Nigeria’s rising debt, projected to hit N187.79 trillion by the end of 2025, has raised alarm among economists and financial…
Nigerian Banks Borrow Record N131.42 Trillion From CBN Amid Tight Liquidity
In 2024, Nigerian Deposit Money Banks (DMBs) and merchant banks borrowed an unprecedented N131.42 trillion from the Central Bank of…
Nigerian Telecom Subscribers Switch Networks in Pursuit of Quality Services
Over 60,000 Nigerian telecom subscribers switched networks between October 2023 and October 2024, according to the Nigerian Communications Commission’s (NCC)…
Foreign inflows soar by 63.7% to $3.82bn in 9 months
Nigeria has witnessed a robust 63.7% growth in foreign inflows through international money transfer operators (IMTOs), reaching $3.82 billion in…
NGX lists Nigerian Breweries’ 20.7bn ordinary shares
Nigerian Breweries Plc has officially listed 20.7 billion newly allotted ordinary shares on the Nigerian Exchange Limited (NGX). The announcement…
Mutual Funds Surge to N3.75trn as Start-up Investments Plunge
Nigerian investors have significantly increased their interest in Mutual Funds, with the total Net Asset Value (NAV) soaring by 80.3%…
Expert forecasts 63% growth in the service sector’s GDP contribution in 2025
Dr. Alban Igwe, a logistics expert and former Vice President of the Chartered Institute of Logistics and Transport, has predicted…
NGX launches equity-based commodity index, hints on rebalancing
The Nigerian Exchange Limited (NGX) has launched a new Equity-Based Commodity Index aimed at tracking the performance of companies in…
Banks’ Credit to Private Sector Hits N76 Trillion as CBN Tightens Loan-to-Deposit Ratio
In November 2024, credit to the private sector in Nigeria surged by 27.3% year-on-year, reaching N75.96 trillion, according to the…
CBN Rules Out Further Naira Devaluation in 2025
The Central Bank of Nigeria (CBN) has reassured the public that it will not devalue the naira further in 2025,…
Pension Sector Thrives Amid 2024 Economic Challenges
The Nigerian pension sector demonstrated resilience in 2024, accumulating assets worth N21.9 trillion and expanding contributors to 10.5 million despite…
Foreign transactions on NGX hit N785bn in 11 months –Report
Foreign transactions on the Nigerian Exchange Limited (NGX) reached N785.28 billion in the first 11 months of 2024, a dramatic…
BMI Predicts Monetary Easing in Nigeria as Inflation Drops
BMI, the research arm of Fitch Solutions, anticipates a shift toward monetary easing in Nigeria and other Sub-Saharan African (SSA)…
Nigerian Equities Begin 2025 with Strong Gains as Investor Optimism Rises
The Nigerian stock market started 2025 on a bullish note, with the All-Share Index (ASI) climbing 1.42% to close at…
Investor Concerns Persist Despite Stronger Market Regulations in Nigeria
Despite recent regulatory advancements, including the Investment and Securities Bill (ISB) 2024, investor confidence in Nigeria’s equities market remains fragile.…
Guinea Insurance Targets N1.75bn Premium Boost with Strategic Vision
Guinea Insurance has announced a projection of N1.75 billion in gross premium written for the first quarter of 2025. This…
Indonesia’s 2024 Budget Deficit Lower Than Expected at 2.3% of GDP
Indonesia’s unaudited budget deficit for 2024 stood at 507.8 trillion rupiah ($31.38 billion), or 2.29% of GDP, surpassing initial expectations…
How Edun inspired over $10bn inflows into Nigeria
In 2024, Nigeria witnessed significant economic progress under Finance Minister Wale Edun, who facilitated $9.09 billion in budget financing and…
FCMB Group Plc Announces Successful Completion Of Its Public Offer, Raises ₦147.5 Billion With 33% Oversubscription
FCMB Group Plc (“FCMB Group” or the “Group”), a leading financial services group, is pleased to announce the successful completion…
CBN’s 2024 Agenda Focused on Combating Inflation and Driving Economic Reforms
In 2024, the Central Bank of Nigeria (CBN), led by Governor Olayemi Cardoso, implemented bold monetary policies to address soaring…
CIS urges FG to leverage commodities ecosystem for GDP growth
The Chartered Institute of Stockbrokers (CIS) has urged the Federal Government (FG) to prioritize the development of Nigeria’s commodities ecosystem…
Banks’ capital adequacy ratio rose to 14% in Q3 –CBN
The Central Bank of Nigeria (CBN) reported that the banking sector’s Capital Adequacy Ratio (CAR) rose to 14.01% in the…