Business
CBN Raises Alarm Over Illicit Naira Transactions, Urges Strict Measures
The Central Bank of Nigeria (CBN) has expressed concerns over the growing trend of illicit transactions involving banknotes, warning that this practice threatens...
Naira Depreciates to ₦1,585/$ in Parallel Market, ₦1,546/$ in Official Market
The Nigerian currency, the Naira, has continued its downward trend, depreciating further at both the parallel and official markets. According to data published...
Lagos State Solidifies Position as Africa’s Economic Powerhouse with $259bln GDP
Lagos State has reaffirmed its status as one of Africa’s leading economic hubs, boasting a staggering Gross Domestic Product (GDP) of $259 billion...
Nigeria’s First Lady Commends Economic Team as Country Prepares to Host AFREXIMBANK Annual Meeting
Nigeria’s First Lady, Sen. Oluremi Tinubu, has praised the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, and his...
Transcorp Group Achieves Remarkable Growth in 2024, Posts 107% Revenue Surge, 132% Profit-Before-Tax Increase
Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate has announced its financial results for the year ended December 31, 2024....
Naira Weakens to N1,550 Against Dollar Amid Increased Demand
The Nigerian naira has taken a hit, weakening to N1,550 against the American dollar in the black market. The decline comes amid increased...
Trump Establishes “Strategic Bitcoin Reserve” Via Executive Order
US President Donald Trump on Thursday signed an executive order establishing a “Strategic Bitcoin Reserve,” marking a significant endorsement of the cryptocurrency. This...
CBN appoints 16 directors to strengthen its operations
The Central Bank of Nigeria (CBN) has taken a significant step to bolster its leadership by appointing 16 new directors to head key...
FirstBank holds groundbreaking ceremony for new state-of-the-art eco-friendly headquarters in Lagos
FirstBank, the premier bank in West Africa and a leading financial inclusion service provider, today marks a significant milestone with the groundbreaking ceremony...
Tinubu Vows to Adopt Worldwide Best Practices to Revitalize Nigeria’s Economy
President Bola Tinubu has reiterated his administration’s commitment to learning from other countries and adopting global best practices to drive Nigeria’s economic growth....
FirstHoldCo: Reinforcing ESG, sustainability initiatives as it rebrands
By A.Ezekiel In a world where approximately 20% of new businesses fail within the first two years, 45% within five years, 65% within...
Nigeria’s Net Domestic Credit Declines to N99.41trb in January 2025 – CBN
Nigeria’s net domestic credit has witnessed a significant decline, dropping to N99.41 trillion in January 2025. This represents a contraction of N16.17 trillion...
Nigeria’s GDP Grows by 3.84% in Q4 2024, Driven by Services Sector
Nigeria’s economy has shown resilience, with the country’s Gross Domestic Product (GDP) growing by 3.84% in the fourth quarter of 2024, according to...
Tinubu Pledges to Support Fintech Companies, Hails Flutterwave’s Contribution to Digital Economy
In a significant boost to Nigeria’s financial technology (fintech) sector, President Bola Ahmed Tinubu has pledged his administration’s support for businesses providing payment...
Naira Appreciates to N1,514/$1 at Parallel Market, Gains N11 in One Day
The Nigerian naira continued its strong performance, appreciating by N11 or 0.72% to close at N1,514/$1 at the parallel market on Wednesday, February...
Nigeria’s Inflation Rate Drops to 24.48% in January 2025
Nigeria’s National Bureau of Statistics (NBS) has reported a significant drop in the country’s headline inflation rate, which stood at 24.48% in January...
