Why Nigeria May Not Adopt Bitcoin As Legal Tender
In April 2022, the Central African Republic became the first African country to adopt Bitcoin as a legal tender. The…
Category: Local
Sterling Bank Launches Ethical Investment Platform
Sterling Alternative Finance has launched an ethical investment platform called Altinvest. During the launch in Lagos, Sterling Alternative Finance, which…
FAAC Allocation Declines By 30%, States’ Finances May Worsen
Revenue allocation to federal, state and local governments has declined from a peak of N970.57bn in July 2021 to N680.783bn…
Nigeria Lost N500.6Bn Crude Oil In Five Months – Investigation
Revenues accruable to Nigeria from the sale of crude oil crashed by about N500.6bn between January and May this year.…
FG Approves Reforms To Boost Non-Oil Revenue To N3.8 Trillion Annually.
The Federal Government through the Federal Executive Council (FEC) has approved reforms to boost Nigeria’s non-oil revenue; to N3.8 trillion…
The NGX Closes Flat As Market Cap Declines Slightly By N811 Million.
The NGX closed on a flat note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 0.3…
Rising Inflation, Others Worsening Naira Volatility
The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that rising inflation; among other…
Nigeria Boosts Deep Blue Project, Signs $2.7m Deal With Japan.
In a bid to boost the deep blue project, the Federal Government of Nigeria has signed a $2.78m exchange of…
Unity Bank Plans N10m Business Grant In Entrepreneur Initiative- Nigeria.
Unity Bank has said it will commence the eight edition of its flagship Entrepreneurial Development Initiative; Corpreneurship Challenge across 10…
EU Backs Crypto Anti-Money Laundering Rules
European Union negotiators on Wednesday reached a provisional agreement on anti-money laundering rules for cryptocurrencies that would spur crypto firms…
Nigeria’s Unclaimed Dividends Rises To N180 Billion
The Security and Exchange Commission (SEC) has stated that the commission is working to ensure it reduces the level of…
CBN Raises Interest Rate To 13%
The Central Bank of Nigeria on Tuesday raised the interest rate to 13% for the first time in two years.…
Fuel Subsidy, Refinery Rehabilitation Gulped N1.3tn In Five Months – NNPC
The amount spent on petrol subsidy monthly has been depleting the revenues accruable to the Federation Account. Thus limiting the…
NAICOM Revokes Niger Insurance, Standard Alliance Licences, Appoints Liquidators
Following the failure of several palliatives to strengthen both Niger Insurance Plc and Standard Alliance Insurance. The National Insurance Commission…
Rouble Firms Past 52 Against Dollar For First Time Since May 2015
The rouble rallied past 52 against the dollar to a more than a seven-year high on Tuesday as capital controls.…
Nigerian Stocks Lose Over N85 Billion In A Day
The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 31…
UBA Rewards Customers With N16.6m In Promo
Africa’s Global Bank, the United Bank for Africa Plc, has rewarded its loyal customers in its UBA Super Savers draw…
Electricity Tariff Surge By 58% After N500bn Subsidy Suspension –Report
Findings have shown that electricity tariffs increased by 58% after the Federal Government yanked off a yearly subsidy of N500bn…
Nigeria’s PZ Cussons Fights Off Inflation To Post 277% Rise In Profits.
Leading conglomerate, PZ Cussons Nig Plc, released its Q4 2021/22 unaudited results for the period ended May 31, 2022. Reporting…
Fuel Scarcity: FG To Sanction Fuel Stations Selling Fuel Above N165.
The Nigerian Government has decided to clamp down on filling stations selling Premium Motor Spirit (PMS); above the N165 agreed…
Investors In MTN Public Offer Gain N35 Billion In 6 Months
Investors in MTN’s Public Offer for Sale conducted in December 2021 have gained an estimated N35 billion; since the offer…
FG spends N1.243tn Monthly As Fuel Subsidy Hits N600/Litre – Operators
The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit; popularly called petrol, consumed…
Firm Invests N24bn In Edo Integrated Farm
Saro Group of Companies has invested not less than N24bn in an integrated farm in Edo State; in a concerted…
Nigeria’s Bitcoin P2P Surge By 25% In 180 Days Amid Falling Naira
Despite government rules limiting crypto trades within financial institutions to protect citizens and monitor the technology’s growth. Many Nigerians have…
Naira Falls At Official Market Despite Slight Improvement In FX Supply
The exchange rate between the naira and the US dollar closed at N420.25/$1 at the Investors and Exporters (I&E) window.…
Wema Bank Launches Innovation Challenge For Kids
Wema Bank Plc has unveiled its Kids’ innovation challenge aimed at encouraging children. This, however, It teaches them to ideate…
Analysis: Food Export Bans, From India To Argentina, Risk Fueling Inflation.
It only took 24 hours last month for Prime Minister Narendra Modi’s government in India. The world’s second-largest producer of…
Banking Body Urges Decisive Wave Of Global Rate Hikes To Stem Inflation.
The world’s central bank umbrella body, the Bank for International Settlements (BIS), has bawl for interest rates to be uplift;…
Telecom Firms’ Operating Costs Rise by N265bn – Nigerian Communications Commission.
The operating costs of telecommunication companies in Nigeria rose from N1.4tn in 2020 to N1.66tn in 2021. This shows an…
China Approves ICBC-Goldman Joint Venture To Offer Wealth Services
Industrial and Commercial Bank of China (601398.SS), (1398.HK) (ICBC) said its wealth management joint venture with Goldman Sachs Group Inc…