With N1tn Gross Premium, Agusto & Co Foresees Strong FY 2024 for Insurance Sector Fuelled by FX Gains
Ratings agency, Agusto & Co. has noted that in the fiscal year (FY) 2023, the Nigerian insurance industry recorded robust...
Oil moves higher on fuel inventory draws
rude oil prices rose yesterday after the Energy Information Administration (EIA) reported an inventory build of 3.2 million barrels for...
Naira sells below 1,280/$ at official, parallel markets
The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39...
Electricity tariff hike looms as FG raises gas price
The Federal Government, on Monday, announced that the new price of natural gas for power generation companies is now $2.42...
FIRS will not introduce additional taxes – Adedeji
The Chairman of the Federal Inland Revenue, Zacch Adedeji, has restated the agency’s commitment not to introduce additional taxes in...
Amid MPC Tightening Stance, Currency in Circulation Hits Historic N3.69tn
Amid the aggressive tightening stance of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), currency in circulation reached...
CBN directs BDCs to sell dollar at N1,269
The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at...
Stock Market Halts Three-day Profit-taking, Up 0.13%
The Nigerian stock market yesterday halted its three-day investors profit-taking momentum as gains in BUA Cement Plc and 21 others...
Naira rebounds to N1,400/$ as speculators offload forex
The naira rebounded against the United States dollar on Wednesday at the official and parallel markets, with the local currency...
Zenith Bank appoints Adaora Umeoji as Group CEO
Zenith Bank Plc has appointed Dr. Adaora Umeoji, as its Group Managing Director/Chief Executive Officer, CEO with effect from June...
Naira depreciation pushes Nigeria’s imports to N35tn
Nigeria’s total imports grew to N35.9tn in 2023, from N25.5tn recorded in 2022, according to data by the National Bureau...
CBN insists banks can’t pay dividends from FX revaluation gains
The Central Bank of Nigeria has reiterated that banks operating in the country cannot use their foreign exchange revaluation gains...
High interest rate environment drives up Mutual Funds’ investment by 77%
The total Net Asset Value, NAV, of investment in Mutual Funds rose Year-on-Year, YoY, by 76.9 per cent to N2.3 trillion...
Naira gains 20% on CBN’s noose tightening
The naira has gained more than 20 per cent in a major recovery that had seen the currency trading mostly...
CBN Unveils Plan to Settle N1.64tn Treasury Bills in Q2 2024
The Central Bank of Nigeria (CBN) has revealed its strategy to settle Treasury Bills (TBs) worth N1.64 trillion during the...
Naira records new low, falls to N1,665/$ at NAFEM
The Naira on Friday recorded a new low depreciating to N1,665.5 per dollar in the Nigerian Foreign Exchange Market (NAFEM)....
Equity investors lose N67bn over sell-offs
Equity investors lost N67bn on Thursday, as the Nigerian Exchange returned to the red zone. Sell-offs in banking, insurance, and...
Fuel transporters halt strike as FG intervenes
The about two-day suspension of operations with respect to the lifting of petroleum products by the Nigerian Association of Road...
Electricity: Forex crisis, inflation drive up meter prices by 80% —Investigation
NIGERIA’S foreign exchange and inflation have combined to push the prices of prepaid meters year-on-year, YoY by 80 percent to...
Naira depreciation, inflation eroding value of insured assets
The recent sharp depreciation of the Naira in the foreign exchange market as well as the rising inflation rate has...
Naira weakens as banks’ dollar sales plunge by $252m
Dollar sales by Deposit Money Banks and other entities at the Nigeria Autonomous Foreign Exchange Market dropped by $252 million...
Banks induce customers on conversion of dollar deposits to naira
Banks are inducing their customers to sell the foreign currencies domiciled in their branches, Some of the banks, it was...
Insurers’ premium income rise 25.9% amid economic hardship
Nigeria’s insurance sector appears to be copping well with the adverse economic environment as leading operators in the industry have...
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