Business
Illicit mint naira sale: CBN slaps N150m fine on erring banks
The Central Bank of Nigeria (CBN) has introduced a strict measure to combat the illicit trade of new naira notes, imposing a hefty...
FG Sets December 16 for N120 Billion Bond Sale
The Federal Government, through the Debt Management Office (DMO), has announced plans to raise N120 billion through the auction of two Federal Government...
Naira plummets to N1,780 per dollar, reversing recent gains
The Nigerian Naira experienced a sharp value decline on Wednesday, falling from N1,600 to N1,780 per dollar in the black market. This reversal...
Naira Posts Strong Gains Against Euro Amid Forex Market Reforms, European Political Uncertainty
The Nigerian naira has made significant gains against the European currency at the parallel market, driven by ongoing reforms in Nigeria’s foreign exchange...
Netflix debunks exit rumour, reaffirms commitment to Nigeria
Streaming platform Netflix has dismissed rumours suggesting it plans to withdraw from Nigeria, emphasizing its dedication to the country’s vibrant creative industry. In...
Nigeria’s private sector records first job decline in months amid inflationary pressures
Nigeria’s private sector experienced its first decline in employment in seven months, according to the Stanbic IBTC Bank Purchasing Managers’ Index (PMI) report...
Foreign Holdings in Nigeria Drop Amid Naira Crisis, Corporate Cos’ Exits
Nigeria has experienced a sharp decline in foreign direct investment (FDI) inward stock, dropping from $86.2 billion in 2022 to $73.4 billion in...
FG begins N50 electronic levy deductions on Opay, Moniepoint, Kuda transactions
The Federal Government has commenced the deduction of a N50 electronic levy on transactions of N10,000 and above made through financial technology (Fintech)...
Nigerian Exchange Records Modest 1.97% Increase in October Transactions
The Nigerian Exchange (NGX) has reported a total transaction value of N502.73 billion (approximately $300.05 million) for domestic and foreign portfolio investments in...
Breaking: CBN Raises Benchmark Interest Rate to 27.50% Amid Inflation
For the umpteenth time, the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR) by 25 basis points to 27.50%...
UBA to empower MSME’s with wealth management strategies at its ‘Built to Last’ series
As part of its commitment to deepen the growth and sustainability of micro, small and medium-scale enterprises (MSMEs) on the continent, Africa’s Global...
FirstBank Hosts First-ever China-Africa Interbank Association Forum
FirstBank, the premier West African financial institution and financial inclusion service provider, has announced its hosting of the first-ever China-Africa Interbank Association (CAIBA)...
UBA to raise N239.4bln via right issues – Elumelu
The Group Chairman of United Bank for Africa, Tony Elumelu, has announced that the bank has issued 6,839,884,274 ordinary shares of 50 kobo...
Nigeria’s Domestic Debt Reaches N66.957trn in H1 2024
Nigeria’s domestic debt stock has surged to N66.957 trillion in the first half of 2024, representing an 8.74 percent increase from N61.578 trillion...
China’s imports from Nigeria soar to $15.1bln, 36.1% increase
China’s imports from Nigeria have reached an all-time high of $15.1 billion (approximately N25.7 trillion) between January and September 2024, representing a 36.1...
Bitcoin Surges to New High on Trump’s Presidential Victory
The price of bitcoin has skyrocketed to a record high of $75,345, driven by investor optimism following Donald Trump’s victory in the U.S....
