Business
Nigeria’s Average Income Plummets to $835.49, Exacerbating Cost-of-Living Crisis – IMF
Nigeria’s economic problems have deepened, with the average income per person dropping to $835.49 in 2025, representing a 4.73% decline from $877 in...
Nigeria’s Treasury Bills Auction Sees Strong Demand for 364-Day Tenor
The Central Bank of Nigeria (CBN) has released the results of its Treasury Bills (T-Bills) auction conducted on February 5, 2025. The auction...
Tony Elumelu at Florida conference: Africa will not rise by chance but by deliberate action, challenging the status quo, creating the future it deserves
“In 2015, we committed that USD100million to identify, train and fund the businesses of African entrepreneurs over 10 years. Today, we have granted...
Naira Strengthens to 8-Month High, Gains N20.67 Against Dollar
The Nigerian naira continued its stability on Monday, fueled by reduced demand for the dollar and effective policies implemented by the Central Bank...
CBN Extends Deadline for BDCs to Access Forex Market Until May 30
The Central Bank of Nigeria (CBN) has granted eligible Bureau de Change (BDC) operators more time to access the Nigerian Autonomous Foreign Exchange...
Nigeria’s Electronic Payment Transactions Hit Unprecedented N1.07 Quadrillion in 2024
Nigeria’s electronic payment transactions have reached an all-time high, hitting N1.07 quadrillion in 2024, according to data released by the Nigeria Inter-Bank Settlement...
Just in: Nigerian Telecom Users to Pay More as NCC Approves 50% Tariff Hike
The Nigerian Communications Commission (NCC) has granted telecom operators’ request to adjust tariff rates, allowing for a maximum 50 percent increase. The development,...
Nigeria’s inflation rate rises to 34.80% in December 2024 up from 33.60%
Nigeria’s inflation rate rose to 34.80 percent in December 2024, up from 33.60% in November, according to the National Bureau of Statistics (NBS)....
Transactions with GHL: FirstBank dispels misleading reports, reaffirms commitment to excellent, standard banking services
First Bank of Nigeria Limited (FirstBank) has distanced itself from a recent media reports regarding a commercial transaction between it and General Hydrocarbons...
Nigeria’s Economy Soars as Customs Records N196.94trn Trade Value in 2024
The Nigeria Customs Service (NCS) has achieved a remarkable milestone, recording a total trade value of N196.94 trillion in 2024. This represents a...
CBN Slams N1.35bln Fine on Nine Banks for Cash Scarcity
The Central Bank of Nigeria (CBN) has imposed a total fine of N1.35 billion on nine deposit money banks (DMBs) for failing to...
Tinubu Calls for Boost in Regional Trade to Drive African Growth
President Bola Tinubu has emphasized the importance of Africa focusing on internal trade to drive growth and prosperity for its people. By improving...
Nigerian Treasury Bills Auction Shatters Records with 283.42% oversubscription
The Central Bank of Nigeria (CBN) has announced a staggering 283.42 percent oversubscription of the 364-day Treasury Bills auction, which took place on...
Naira hits new low, slumps to N1,665/$1 in parallel market despite official market gains
The Nigerian Naira on Monday depreciated to N1,665 per dollar in the parallel market, a slight drop from N1,660 per dollar last weekend....
U.S. dollar strength drives oil prices down amid market pressure
By Samuel Akpan with agency report Global oil prices took a step back on Monday, ending a five-session rally, as a robust US...
Domestic Crude Oil Sale Initiative: Tinubu’s Strategic Move Pays Off
President Bola Tinubu’s directive to sell crude oil and refined products in Naira to domestic refiners has achieved significant success. The Chairman of...
