AfDB’s SEFA Invests $20m in ARM-Harith, ACV Fund to drive sustainable infrastructure
The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) has committed $20 million to drive sustainable infrastructure and climate…
Category: Local
Market Cap Adds N138bn Amid Demand for 54 Stocks
Ahead of the Christmas celebrations, the Nigerian Exchange Limited (NGX) started the week positively, with the market capitalization rising by…
Net Forex inflow rises 70% to $42 bn
Nigeria’s net foreign exchange inflows surged by 70.5% year-on-year (YoY) to $42.06 billion in the first nine months of 2024,…
The equities market gains N1trn as ASI crosses 100,000-point mark
The Nigerian equities market reached a significant milestone last week as the NGX All-Share Index (ASI) crossed the 100,000-point mark…
Innovation Crucial for Addressing Nigeria’s Energy Challenges
Manufacturers in Nigeria’s electrical and electronics sector have been urged to leverage innovation to address the nation’s pressing energy challenges.…
Festivity and Energy Costs Expected to Drive Inflation Surge in December
Analysts predict that Nigeria’s headline inflation will rise to 34.91% year-on-year in December due to seasonal festive demand, poor harvests,…
Investors Gain Over N1 Trillion in Five Days as Nigerian Stock Market Surges
The Nigerian stock market witnessed a remarkable rally, with the All Share Index (ASI) recording a 35.2% year-to-date capital gain,…
FG Restate Commitment to Digitisation of Livestock Sector
The federal government has reaffirmed its commitment to leveraging innovative technology for sustainable development in Nigeria’s livestock sector. At the…
Macro Economic Challenges Thrust 12 Banks’ Operating Expenses to N5.18tn
Twelve Nigerian banks listed on the Nigerian Exchange Limited (NGX) reported a combined operating expense of N5.18 trillion in the…
PenCom, finance ministry working to pay retirees – DG
The National Pension Commission (PenCom) is partnering with the Ministry of Finance to address delays in retirees’ benefit payments. Speaking…
FCMB Group Shareholders Approve N340 Billion Capital Raise
FCMB Group Plc has secured shareholder approval to raise N340 billion in capital to strengthen its banking subsidiary, First City…
Naira rebound seen in 2025 on higher FX inflows
The naira is expected to recover in 2025, driven by increased foreign exchange inflows, reduced petrol and food importation, and…
Sterling Bank champions African Cinema at 2024 S16 Film Festival
Sterling Bank has underscored its commitment to Africa’s creative economy by sponsoring the 2024 S16 Film Festival, a premier platform…
Lagos State partners with Access Bank to develop 704 housing units
The Lagos State government and Access Bank have signed an MoU to build 704 two-bedroom apartments in Odo-Nla, Ikorodu, as…
ICPC Recovers N30 Billion and $966900 in Cash Over One Year
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced the recovery of N29.7 billion and $966,900 in foreign…
UBA donates N500m to Lagos security trust fund
The United Bank for Africa (UBA), through its corporate social responsibility arm, UBA Foundation, has donated N500 million to the…
Nigeria’s exports to ECOWAS hit N1.5tn – NBS
Nigeria’s exports to the Economic Community of West African States (ECOWAS) surged to N1.54 trillion in the third quarter of…
2025 Budget: N13trn Deficit To Be Financed Through Borrowing – Finance Minister
The Federal Executive Council (FEC) has approved Nigeria’s 2025 budget, which projects a deficit of N13.1 trillion, representing 3.89% of…
Sterling Bank honored for advancing tourism, transportation
Sterling Bank has been named the “Outstanding Banking Partner for Tourism and Transportation of the Year” by the Institute for…
Fitch predicts tough 2025 for Nigerian banks, others
Fitch Ratings has projected a challenging year ahead for African banks, including Nigerian financial institutions, in its African Banks Outlook…
FG issues N1.1trn Sovereign Sukuk for 124 road projects across Nigeria
The Securities and Exchange Commission (SEC) has announced that the Nigerian government has issued six Sovereign Sukuk worth ₦1.1 trillion…
PalmPay Partners Jumia to Boost Payment Transaction
PalmPay, a leading fintech company in Nigeria, has partnered with e-commerce platform Jumia to improve the payment process for customers…
Dangote gifts 120 indigent students N16m
As part of its 2024 Community Day celebration, Dangote Cement, Ibese, presented N16.2 million in scholarships to 120 indigent students…
Naira falls to N1,745/$ on parallel market
The Nigerian naira sharply declined to N1,745 per dollar in the parallel market on Wednesday, marking a steep drop from…
Recapitalisation: ASSIBIFI president underscores impact on banking industry
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSIBIFI), discussed the ongoing…
Foreign portfolio inflows boost Nigeria’s FX reserves by $7.7bn
Nigeria’s external reserves saw a significant increase of $7.7 billion, reaching $40.3 billion by November 2024, driven by foreign portfolio…
Forex Challenges Blamed for High Petrol Prices in Nigeria
Operators in Nigeria’s downstream oil sector attribute the high cost of locally refined petrol to dollar-denominated charges on refining and…
CBN awards OPay for financial inclusion innovation
The Central Bank of Nigeria (CBN) has honored OPay with the Financial Inclusion Innovation Award at the 2024 International Financial…
CBN Debunks Claims of FX Sales to BDCs at N1,301 per Dollar
The Central Bank of Nigeria (CBN) has refuted allegations of selling foreign exchange (FX) to Bureau de Change (BDC) operators…