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One-year T-bills yield drops to 24.77% despite lowest auction in 2024
The Central Bank of Nigeria (CBN) sold N65.03 billion worth of one-year treasury bills at 24.77 percent as a result of a small auction size. The amount sold was double the N30.7 billion offered by CBN, yet lower than…
Nigerians spend $10bn annually on petrol, generator maintenance – Report
…Carbon emissions in Lagos overshadow three African countries Nigerians spend a staggering $10 billion annually on petrol and generator maintenance, according to a new report by Sustainable Energy for All…
Wema Bank Launches #MyTeacherMyHero Challenge to Celebrate Exceptional Educators in Nigeria
As the world celebrates the invaluable contributions of teachers on World Teachers' Day, Wema Bank proudly joins this global…
Caribbean countries seek Dangote’s partnership in Cement, fertiliser production
…Grenada PM says Dangote Refinery will save Africa from being a Dumping Ground The Prime Minister of Grenada, Dickon Mitchell, has described the Dangote…
NNPCL Owing Us ‘Almost ₦15bn’ — IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says the Nigerian National Petroleum Company Limited (NNPCL) owes it “almost N15 billion”. “Roughly now, they are owing us almost getting to…
IVF costs surge to N2.1m, 250% increase from 2019 prices
…Increasing financial burden on families A single in vitro fertilization (IVF) cycle in Nigeria now costs approximately N2.1 million ($2,730), reflecting a 250% increase from the 2019 range of N600,000…
THE INSIDER: Why NNPC hiked petrol price and quit as middleman to Dangote
Although the latest petrol pump price hike by the Nigerian National Petroleum Company (NNPC) Limited is seen as a step towards…
Net foreign exchange inflow rises 67% to $27.6bn
…as IMTO’s inflows hit $2.33bn The net foreign exchange inflows to Nigeria’s economy rose by 67.8 percent to $27.6 billion in the first half of 2024 (H1’24) from $16.44 billion in the corresponding period of…
Foreign investments in Nigeria’s stocks up 204% in Q2
…Portfolio investments rise 360% to $3.5bn in H1 …Investment growth linked to high-yield environment, reforms Foreign investments in the Nigerian equities market stood at $150 million in the second quarter…
Zero VAT on Pharma, medical devices for kickoff as FG finalises framework
The Federal Government has finalised the implementation framework for the executive order eliminating value-added-tax and excise duties on pharmaceutical products and medical devices. Tunji Alausa, Nigeria’s…
PoS transactions hit N6.23tn in seven months
To perform a PoS transaction in Nigeria today, one would need to at least own a Debit card The value of Point of Sale transactions in Nigeria totalled N6.23 trillion between January and July 2024, according…
How Emefiele Bypassed Established Protocol In Naira Redesign – Ex-Nigerian Central Bank…
Edward Adamu, the fourth prosecution witness in the trial of the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Wednesday, told the Federal Capital Territory High Court, Abuja, that…
Body of Bank CEOs in Nigeria, CIBN Express Concern Over Persistent Smear Campaigns In The Media…
The Chartered Institute of Bankers of Nigeria and the Body of Banks CEOs in Nigeria wish to express their concern over the persistent…
BREAKING: Fuel price hits N1,030 at NNPC outlets
Petrol pump price rose to N1,030 per litre at various outlets of the Nigerian National Petroleum Company Limited (NNPC Ltd) in Abuja on Wednesday. The recent development comes after the NNPC decided to terminate…
We’re Yet To Lift Oil From Dangote Refinery – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that it is still in negotiations with the…
Stop crude-for-loan deals – Dangote tells govt
The President of Dangote Group, Aliko Dangote, has said that Nigeria needs to stop mortgaging crude oil to ensure the availability of feedstock for local refineries. Dangote, who spoke at a summit organised by…
Access Bank announces temporary service disruption
In an email sent to its customers on Tuesday, the bank stated that the upgrade will take place in phases, starting on Saturday, October 12, at 10 pm and ending on Sunday, October 13, at 6:30 am. The bank added…
Our refinery was built without any government incentive – Dangote
Alhaji Aliko Dangote, President of Dangote Group, stated on Tuesday that the Dangote Refinery was built without any government incentives. Dangote shared this during his keynote address at the Crude Oil Refinery…
FG names Dangote refinery sole supplier of Jet A1
The Federal Government has approved Dangote Refinery as the exclusive supplier of jet fuel for Nigeria’s airline operators. This was disclosed by the Minister of Aviation and Aerospace Development, Festus Keyamo,…
CBN Weighs In: Responds to Attempts to Misinform the Banking Public and Reasserts Its Role as Apex…
In a show of strong support for GTCO and move to debunk false allegations being levelled against the GTCO and its Executive Management…
‘Issued in error’ — NCC withdraws statement on Starlink’s subscription price hike
The Nigerian Communications Commission (NCC) has withdrawn its statement claiming that Starlink did not receive regulatory approval…
Experts, Stakeholders Association React To Baseless and Unfounded Allegations Against GTCO
Stakeholders and financial industry experts have reacted to the series of allegations against Guaranty Trust Holding Company…
Naira expected to stabilize against the dollar in the fourth quarter of 2024 – Report
The naira is projected to stabilize against the US dollar by the end of the fourth quarter of 2024, finishing the year strongly. This projection comes from a recent macroeconomic report by First Securities Discount…
More service disruptions loom as Nigerian banks switch core banking applications
Nigerian bank customers are set to witness more service disruptions in the coming weeks and months as the financial institutions embark on system upgrades to improve their operational efficiency and enhance customer…