Economy
E-bills payment falls by 44% over cash crunch – NIBSS
The value of electronic utility payments fell by 44.86 per cent in February despite the Central Bank of Nigeria’s naira...
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Stock Market Down N16bn on Weak Investors’ Sentiment
The stock market of the Nigerian Exchange Limited (NGX) yesterday opened the new trading week extending its losing streak for...
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Driving Force Behind Nigeria’s Blue Economy
Kerry Baskins said, “The differentiator in business is when an organisation steps out and creates value from something never tried...
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Naira, fuel scarcity will push 24.8m Nigerians into crisis – Report
No fewer than 28.4 million Nigerians in 26 states and the Federal Capital Territory, including 18,000 Internally Displaced Persons, are...
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Ahmed: FG to Abolish Petrol Subsidy Before May 29, Attributes Delay to 2023 Elections, Census
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the federal government would remove the controversial petrol...
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A former Central Bank of Nigeria’s Deputy Governor, Kingsley Moghalu, has expressed dissatisfaction over the series of crises created...
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Global banking stocks dip over Silicon Valley Bank collapse
The sudden collapse of Silicon Valley Bank on Friday and Signature Bank two days after has continued to rattle the...
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Emefiele finally bows to pressure, says old naira notes legal tender
Exactly 10 days after the Supreme Court judgement mandating the use of old N,1000 and N500 notes as legal tender...
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Economy loses N20tn on CBN’s 70% cash mop-up – Report
Nigeria’s economy is grinding to a halt and has lost about N20tn following the over 70 per cent mop-up of...
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Business turnover, profitability dip over naira scarcity
The Naira scarcity has led to major drop in business activities at both the urban and rural areas. Many retail...
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Stock market rebounds as investors gain N107bn
The Nigerian Exchange Limited on Wednesday rebounded as investors gained N107bn. The market had recorded about N1bn loss on Tuesday....
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Zenith Bank’s deputy MD bows out
The Deputy Chief Executive Officer at Zenith Bank, Adaora Umeoji, has retired after seven years in that role. This was...
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Anchor borrowers: CBN faults IMF’s poor rating
The Central Bank of Nigeria has disclosed that N503bn representing 52.39 per cent has been repaid by farmers under the ...
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S’Court order on old notes: Banks in partial compliance, begin skeletal re-circulation
Deposit Money Banks in the country have begun partial compliance with the Supreme Court order approving the use of old...
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Naira redesign: Buhari, CBN yet to respond to Supreme Court ruling three days after
Three days after, President Muhammadu Buhari and the Central Bank of Nigeria (CBN) are yet to respond to the Supreme...
Read moreBusiness activities fall to three-year low over elections –Report
Nigeria’s private sector activity has contracted for the first time in almost three years as companies reduce output and cut...
Read moreBanks’ assets rise to N73tn – CBN
Total assets of the banking industry grew by N14.36tn or 24.24 per cent from N59.24tn at the end of December...
Read morePolls controversy: Fuel hits N300/litre as marketers halt loading
Oil marketers, on Tuesday, said many depots had stopped loading Premium Motor Spirit, popularly called petrol, due to the apprehension...
Read moreTraders dare CBN, accept old N1,000, N500 notes
Amid the crisis trailing the naira redesign, angry traders have begun to defy the Central Bank of Nigeria’s order banning...
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Currency in circulation drops to N1.38tn – CBN
The total amount of currency-in-circulation in the country dropped from N3.29tn as of the end of October 2022 to N1.38tn...
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Amidst Macro Economic Challenges, Banks’ Prime Lending Rate Hit 13.67% in January
Amid severe macro economic challenges and increase in Monetary Policy Rate (MPR), commercial banks’ prime lending rate to most credit-worthy...
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Discos reject 408MW excess power – FG
Power distribution companies have stepped up the quantum of electricity load allocation that they receive and distribute to consumers across...
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CBN proposes eNaira for $800m cash transfer scheme
In an effort to drive a cashless economy, the Central Bank of Nigeria has suggested the use of eNaira for...
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Naira exchanges for N766/$ at parallel market
The naira yesterday depreciated further against the dollar at the parallel section of the foreign exchange (forex) market. Bureaux De...
Read moreNCC dedicates toll-free number for presidential poll
The Nigerian Communications Commission has dedicated its consumer tool-free number, 622, to serves as the 2023 Presidential Election Incident Hotline....
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