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Guaranty Trust Fund Managers Limited Launches Guaranty Trust Investment Fund 724
Guaranty Trust Fund Managers Limited (“GTFML” or the “Fund Manager”), the asset…
FG releases N122b to six promoters for gas projects
The federal government on Monday, September 30, released N122 billion to six promoters for different gas projects in the country. The government through the Midstream and Downstream Gas Infrastructure…
Naira under fresh pressure, ends September at N1,705/$ in parallel market
There are indications that the nation’s currency has come under fresh demand pressure in the parallel market with significant depreciation recorded in the past week. Yesterday, parallel market dealers traded at…
Credit To Government Surges By N11tr In One Month
Credit to the government surged by over N11 trillion in the month of August 2024, as high interest rates make government securities more attractive to investors. This is according to the latest money and credit…
Wema Bank Commemorates Nigeria at 64
...To reward 64 customers with cash prizes in The Wema Bank 5 for 5 Promo Season 4 Independence Day Special Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully…
Dangote Granite Mines disburses Scholarships to Students in Ijebu-Igbo Host Communities
…Expresses commitment to Promoting Education In Nigeria As part of its social investment programme aimed at promoting educational…
We’ve invested over $25 billion in oil, cement, sugar, in Nigeria in the last 7 years — Aliko…
Africa’s richest man, Aliko Dangote, has disclosed that his business conglomerates have invested over $25 billion in sectors such as oil and gas, cement,…
Why CBN is losing battle to stabilise naira
The Central Bank of Nigeria (CBN) appears to be losing the battle to stabilise the naira. The currency has remained just as volatile…
Naira-for-crude deal kicks off Tuesday as expectations soar
The Federal Government’s latest decision to introduce naira-denominated crude oil sales to Dangote and other local refineries starting on October 1, is…
BREAKING: UBA reports N401.5 billion in half year pre-tax profits, declares N2 dividend
United Bank for Africa has released its 2024 half-year earnings declaring a pre-tax profit of N401.5 billion, which compares to N403.6 billion reported a year earlier. The bank’s impressive profit position was…
Import bill on used vehicles drops 83% to N138.62bn
Nigeria’s import bills on used vehicles, popularly known as tokumbo, fell by 83 percent year-on-year, YoY, to N138.62 billion in the first half of the year (H1’24) from N819.15 billion in H1’23.…
Foreign investors’ portfolios hit five-year high at N655.5b
Total turnover of activities by foreign portfolio investors (FPIs) in Nigeria has tripled to its highest in five years as investors continue to show positive disposition to Nigerian investments. Total FPIs…
Buhari’s aide counters CBN over printing of N35trn
An aide of former President Mohammed Buhari has refuted the claim of the Governor of the Central Bank of Nigeria, Yemi Cardoso, who blamed the current economic hardship in the country on the poor handling of the…
New interest disincentive to business – LCCI, MAN
The new interest rate announced by the Central Bank of Nigeria (CBN) will not bode well for the economy, the organised private sector has said. It may be recalled that the Monetary Policy Committee (MPC) of…
Nigeria’s Money Supply hits N107.1 trillion in August 2024, adding N42.2 trillion in one year
Nigeria’s money supply (M2) surged to a new high of N107.1 trillion in August 2024, marking a 0.75% month-on-month (M-o-M) increase from N106.3 trillion in July and a 5.6% rise from N101.4 trillion in June, according to…
Wema Bank Certified Great Place To Work for the Second Time in a Row
Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has been officially certified as a Great Place To Work for the year…
Naira depreciates to N1,700/$ at parallel market — lowest in seven months
The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday. At the end of trading hours, the naira…
Maiduguri Flood: Access Holdings Donates N1 Billion
Access Holdings Plc, has announced a donation of over N1 billion to assist with relief and recovery efforts in Maiduguri, through its banking vertical – Access Bank Plc. The announcement was made during a visit of the…
Stock Market Defies Odds, Gains N15.6 Trillion in Nine Months
*Analysts forecast bright future for bourse, say market remains resilient Amidst turbulent economic challenges, Nigeria’s stock market has demonstrated remarkable resilience, posting impressive gains that…
Nigeria Losing High Net Worth Individuals to Economic Woes – Henley & Partners
The unattractiveness of Nigeria’s economy has continued to take a toll on its richest citizens who are exploring greener pastures to sustain their wealth base. A global leader in residence and citizenship planning, Henley…
Consumer credit scheme: CREDICORP disburses N3.5 billion to 10,942 beneficiaries in 5 days
The Nigerian Consumer Credit Corporation (CREDICORP) has disclosed that a total of N3.5 billion has been disbursed to beneficiaries through financial institutions participating in its consumer credit scheme. The…
ExxonMobil’s $10bn in Nigeria’s deepwater asset to unlock 180,000 bpd
The decision of ExxonMobil to invest $10 billion in deep-water oil projects in Africa’s biggest oil-producing country is expected to unlock at least 180,000 barrels per day (bpd), BusinessDay’s findings have…
‘CNG is 70% cheaper than petrol’
Chief Commercial Officer, Dana Motors, Matthews Kuruvilla has identified lower cost as one of the advantages of using Compressed Natural Gas (CNG) to power automobiles. Kuruvilla said CNG was almost 70 per cent…
NDIC pays 94% insured depositors of Heritage Bank
Nigeria Deposit Insurance Corporation (NDIC) said it has successfully paid 94 per cent of insured depositors of the defunct Heritage Bank. Managing Director (MD) of the corporation, Bello Hassan broke the news…