Insurance firms eye N4.98bn profit in 2025
Three leading Nigerian insurance firms Cornerstone Insurance, AIICO Insurance, and International Energy Insurance…
Rupee slips to record low but central bank steps in to curb losses
On December 12, the Indian rupee reached an all-time low of 84.88 to the U.S. dollar, marking a 0.04% decline. The…
Stocks Rise as Investors Bet on Fed Rate Cut Euro Firms Ahead of ECB Decision
Global stock markets saw a slight uptick on December 12, supported by expectations of a U.S. Federal Reserve…
Dangote Refinery exports PMS to Cameroon
Dangote Refinery and Neptune Oil have successfully executed the first-ever export of Premium Motor Spirit (PMS)…
Tinubu to German investors: Energy, solid minerals key to Nigeria’s economic…
President Bola Tinubu highlighted Nigeria's potential for growth in the energy and solid minerals sectors during a…
Mastercard and BCP Group Collaborate on Cross-Border Payments in Africa
Mastercard has announced a strategic partnership with the BCP Group to enhance cross-border payments for both…
UBA shareholders get 375% returns
Shareholders of the United Bank for Africa (UBA) have seen impressive returns, with a cumulative capital gain of…
Pension funds to increase infrastructure financing – PenOp
The Pension Fund Operators Association of Nigeria (PenOp) has announced plans to enhance the role of pension funds…
Dangote gifts 120 indigent students N16m
As part of its 2024 Community Day celebration, Dangote Cement, Ibese, presented N16.2 million in scholarships to…
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…
NAICOM ICRC Set Agenda for Insurance of Public-Private Assets
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have…
AFD extends additional 50m Euros funding to DBN
The French Agency for Development (AFD) has extended a €50 million credit line to the Development Bank of Nigeria…
Nigeria’s money supply rises 48% to N107.7trn
Nigeria's money supply rose 48.3% year-on-year to N107.7 trillion in October 2024, up from N72.6 trillion in the…
Interest rate, others drive up investments in Mutual Funds by 89.12%
The Mutual Funds market in Nigeria has witnessed a remarkable 89.12% year-on-year growth, with the total Net Asset…
Stocks steady as investors cautiously await US inflation data
Stocks remained steady on December 11 as investors awaited key U.S. inflation data, which could influence future…
Firm launches wealth management App with diverse investment opportunities
Smart Stewards has launched Wealth Sync, a wealth creation app aimed at individuals, small businesses, and…
Stock Market Appreciates by N60bn on Investors Demand for MTN, 36 Others
The Nigerian stock market rebounded with a capitalization increase of N60 billion, driven by investors' strong…
Stanbic IBTC Pensions to Host Annual Creativity, Innovation Festival
Stanbic IBTC Pension Managers has announced plans to host its annual FUZE 3.0 Festival, a celebration of Nigerian…
Recapitalisation: ASSIBIFI president underscores impact on banking industry
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions…
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,…
Edves and Globus Bank Partner to Simplify School Fee Payments
Edves, a leading education technology company in Africa, has partnered with Globus Bank to simplify school fee…
Omiye Microfinance Bank eyes N1bn share capital
Omiye Microfinance Bank Limited has announced plans to raise its authorized share capital from N500 million to N1…
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…
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…
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…
House of Representatives Probes CBN Over Naira Scarcity
The Nigerian House of Representatives has launched an investigation into the Central Bank of Nigeria (CBN)…
Equinor exits Nigeria, completes $1.2bn asset sale to Chappal Energies
Equinor, the Norwegian energy giant, has exited Nigeria after three decades of operations, finalizing the $1.2…
Access Bank UK bolsters Europe-Africa trade, unveils Malta branch
Access Holdings Plc has announced the launch of The Access Bank Malta Limited, a fully owned subsidiary of The…
Tier-1 banks drive NGX market cap to N5.93trn YTD
Tier-1 banks in Nigeria have significantly contributed to the year-to-date (YTD) growth of the Nigerian Exchange…
African Alliance Insurance pays N780m in claims to annuitants
African Alliance Insurance has commenced the payment of N780 million in claims and annuities as part of its…