Business
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Inflation, high interest dangerous to economic growth – Analysts
Analysts have said that the multiple factors of persistent inflation, a high interest rate environment, and unemployment have eroded the...
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GDP Grows By 3.19% in Q2
President Bola Tinubu welcomed the latest report by the National Bureau of Statistics (NBS) on the state of the economy,...
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FX Turnover Increased to N110.35tn in Seven Months on Dollar Supply
The Nigerian official foreign exchange (FX) market witnessed a significant increase in turnover, rising to N110.35 trillion in seven months...
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FX turnover hit $7.4bn in July – Report
The foreign exchange turnover in July stood at N11.48tn ($7.39bn) at the official trading window for the Nigerian currency, which...
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Nigeria owes NNPCL N4.56 trillion for selling petrol at subsidized price
The Nigerian National Petroleum Company Limited (NNPCL) has informed the Federal Account Allocation Committee (FAAC) of an outstanding of N4.56...
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Naira down to N1,610/$ in parallel market
The Naira yesterday depreciated to N1, 610 per dollar in the parallel market from N1,600 per dollar on Monday. Similarly,...
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Stock Market Appreciates by N66.13bn on Investors’ Demand for Shares
The Nigerian stock market recovered from a bearish run yesterday, as investors’ investments went up by N66.13 billion, propelled by the demand for Seplat Energy...
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Stock Market Drops by N790.38bn in Three Days as Investors Trade with Caution
The local stock market for the third consecutive session has recorded profit-taking, dropping by N790.38 billion as investors trade with blue...
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Filling stations shut as depots battle fuel shortage
Nigerians are still struggling to get Premium Motor Spirit, popularly known as petrol, as depots continue to battle fuel shortage....
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CBN eases FX pressure, sells $876.26m to end-users at N1,495/$
The Central Bank of Nigeria, CBN, in a bid to ease pressure in the foreign exchange (FX) market, sold $876.26...
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Nigerians turn to local foods amid soaring inflation
In June, Nigeria’s inflation reached a 28-year high of 34.19 per cent, causing hardship for many Nigerians. The situation is...
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EFC Report: Windfall Tax Amid Industry Recapitalisation Will Break Banks
A new report has warned that implementing a windfall tax amid a Central Bank of Nigeria (CBN) mandated recapitalisation could...
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Bank directors disown chairmen’s views on windfall tax
The Bank Directors Association of Nigeria have distanced itself from the views of some bank chairmen on the proposed foreign...
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Banks, others shut as hunger protest holds
Banks and other financial institutions in the country will be closed on Thursday, August 1, 2024, as the planned hunger...
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Fuel crisis lingers as vessels berth at Lagos ports
The fuel crisis being experienced by Nigerians is yet to abate even as petrol vessels birthed at Lagos and other...
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NCC orders telcos to reactivate all lines barred over NIN-SIM verification issues
The Nigerian Communications Commission (NCC) has ordered all telecommunication companies in the country to reactivate all lines they have barred...
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Three Days to Nationwide Protests, Nigerians Still Divided on Action
Deji Elumoye, Chuks Okocha, Ikechukwu Aleke, Folalumi Alaran in Abuja, John Shiklam in Kaduna, Hammed Shittu in Ilorin, James Sowole in Abeokuta, Segun Awofadeji in Bauchi, Laleye Dipo...
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Foreign education forex allocation tumbles 83% — CBN
Nigerians spent $38.17m on foreign education between January and March 2024, according to data from the Central Bank of Nigeria’s...
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FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government recorded a 29 percent year-on-year (YoY) decline in deficit spending to N2.83 trillion deficit in the first quarter...
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Nigeria investigates fuel imports after Dangote Refinery rift with regulator
Nigerian lawmakers on Monday set up a committee to investigate crude shortages to local refineries and importation of dirty fuels,...
Read moreMoney supply to dip by N20tr as banks offload dormant account proceeds
Policy to restrict lending capacity of DMBs, increase commercial interest rate The value of the money supply may fall by...
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CBN resumes BDC dollar sale as naira weakens to 1,570/$
The Central Bank of Nigeria resumed the sale of foreign exchange to eligible Bureau De Change operators on Thursday, as...
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Petrol landing cost now N1,117/litre – Marketers
The landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024, the...
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Agusto & Co. forecasts an impressive average growth rate of 32.4% over the next two years for the Nigerian asset management industry
The Nigerian asset management industry (“the Industry”) has defied a tough macroeconomic climate to achieve impressive growth. Over the past...
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