Markets
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...
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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Agusto & Co:Insurance Industry Poised to Survive Weak Macro Economy
Pan-African credit rating agency and business information provider, Agusto & Co. Limited, has predicted that the insurance industry will survive...
Read morePetrol rose by 55% to N257/litre in Jan – NBS
Many Nigerians are still paying far above N185 per litre approved pump price of petrol amid fuel scarcity, a report...
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Buhari Canvasses Strengthening of Early Warning Systems to Rein in Conflicts in Africa
President Muhammadu Buhari has called on African Union (AU) member countries to strengthen early warning systems to rein in conflicts...
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Nigeria FX Shortage May Threaten Banks’ Liquidity
Foreign exchange shortages faced by local Nigerian companies may threaten bank liquidity, while a devaluation of the naira precipitated by...
Read moreFULL TEXT: Buhari’s nationwide address to Nigerians on new naira
The President, Major General Muhammadu Buhari (retd.) has approved the continuous use of the old N200 as legal tender till...
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Energy Demand in Nigeria, Others to Increase by 35% in 20 Years
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari has projected that...
Read moreEnergy Demand in Nigeria, Others to Increase by 35% in 20 Years
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari has projected that...
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