Nigerian Banks’ Borrowing from Central Bank Drops Sharply in May 2023
Deposit Money Banks (DMBs) in Nigeria borrowed significantly less from the Central Bank of Nigeria (CBN) in May…
Oil Prices Inch Up on Tight Supply Outlook and Risk Appetite Following US…
Oil prices saw a slight rise, recovering from the losses experienced at the end of the previous week. Investors…
Decline in Nigerian Banks’ Borrowing from Central Bank Indicates Improved…
In May 2023, Deposit Money Banks (DMBs) in Nigeria borrowed significantly less from the Central Bank of Nigeria…
Secha Capital Secures R300 Million in First Close of Second Fund
Secha Capital, a black, female-founded fund manager, has achieved a first close of its second fund with R300…
Nigerian Banks Record ₦154 Billion in Fees for Electronic Banking Services in H1…
Customers of nine leading Nigerian commercial banks paid ₦154 billion in fees for using electronic banking…
JPMorgan Extends Lead in Investment Banking Fees Amid Deal-Making Drought
JPMorgan has strengthened its position at the forefront of the investment banking fee rankings, securing 8.6% of…
Closure of Lagos Markets Impacts Traders’ Revenue Amid Waste Management…
The Lagos Waste Management Authority (LAWMA) has temporarily closed the Oyingbo and Alayabiagba markets on the…
Rising Crude Oil Prices Prompt Concerns Over Subsidy Costs and Manufacturing…
The Federal Government of Nigeria is expected to incur additional subsidies on premium motor spirit (PMS), also…
Genomics Startup 54Gene Initiates Closure After Securing $45 Million Funding
54Gene, a genomics startup co-founded by Abasi Ene-Obong, has begun the process of winding down its operations…
Risevest Acquires Digital Trading Startup Chaka in Strategic Deal
Fintech startup Risevest has completed the acquisition of digital trading startup Chaka, a deal that had been in…
EEOC Files Lawsuit Against Tesla Alleging Widespread Racial Harassment
The U.S. Equal Employment Opportunity Commission (EEOC) has filed a lawsuit against Tesla, accusing the automaker…
Nigerian Investors Experience N112 Billion Loss in Bearish Trading
Investors on the Nigerian Exchange Limited (NGX) faced sustained losses as the market saw a decline of N112…
Canadian Dollar Weakens Against USD Amidst Robust Greenback and Investor Caution
The Canadian dollar, known as the "loonie," has experienced a 0.5 percent decline against the US dollar, reaching…
Foreign Investors Decrease Control in Nigerian Stock Market Transactions in August
In August 2023, foreign investors traded 14.15 percent of the overall N262.56 billion in the Nigerian stock…
Nigerian Exchange Group (NGX) Records 25% Surge in Other Income Despite Marginal…
Despite a marginal decline in revenue during the first half of 2023, the Nigerian Exchange Group (NGX) experienced…
National Economic Council Confirms $3 Billion Emergency Loan for Crude Oil to…
The National Economic Council has affirmed that the $3 billion emergency loan-for-crude oil, secured by the…
Nigerian National Petroleum Company Seeks $3 Billion Loan from Afrexim Bank to…
The Nigerian National Petroleum Company Limited (NNPC) is in discussions with the African Export-Import Bank…
Top Five Nigerian Exporters Earn $22 Million in April and May
According to figures from the Central Bank of Nigeria (CBN), the top five non-oil exporters in Nigeria…
Access Holdings’ Net Foreign Exchange Gains Surge by 362% to N244 Billion in…
Access Holdings Plc has reported a remarkable increase in its net foreign exchange gains, which rose by 362% to…
New CBN Governor Olayemi Cardoso Aims to Address Naira Downturn
The foreign exchange (FX) market in Nigeria remained relatively calm on Thursday, with market participants eagerly…
Africa’s MSMEs Must Embrace Digital Transformation for Sustainable Growth
Professor Olajumoke Familoni, an expert in management and entrepreneurship, emphasized the need for African…
FX Scarcity Drives Surge in Local Raw Material Sourcing in Nigeria
The Manufacturers Association of Nigeria (MAN) reports a significant increase in the utilization of local raw…
Canadian Dollar Weakens Against US Dollar, Influenced by Robust USD Dominance
The Canadian dollar, also known as the "loonie," has experienced a 0.5 percent decline against the US dollar,…
Food Prices Surge by 31% in Ebonyi and Abia States Over 12-Month Period
According to the 'Selected Food Price Watch' report published monthly by the National Bureau of Statistics, food…
IMF Urges Nigeria to Halt Tax Waivers and Prioritize Domestic Revenue amid Debt…
The International Monetary Fund (IMF) has recommended that Nigeria and other Sub-Saharan African nations focus on…
Nigerian National Petroleum Company Spends N34.47 Billion on Pipeline Repairs in…
The Nigerian National Petroleum Company Limited (NNPCL) has allocated nearly N34.47 billion towards the repair and…
Oil Prices Surge to $95 per Barrel Amid Resurfacing Fuel Queues in Lagos
Oil prices experienced a notable increase of over $1 per barrel on Wednesday following the reappearance of fuel…
Equinor to Sell Stake in Nigerian Agbami Oil Field to Chappal Energy
Norway's Equinor ASA is in the process of selling its 20.2 percent stake in Nigeria's Agbami oil field to Chappal…
BUA Foods Achieves Remarkable 182.8% Growth in Cash and Cash Equivalents in H1…
BUA Foods, a fast-moving consumer goods company in Nigeria, has reported an impressive 182.8% increase in its cash…
JPMorgan Warns of Possible $150 per Barrel Brent Crude by 2026
JPMorgan's Head of EMEA Energy Equity Research, Christyan Malek, has cautioned that Brent crude prices could…