Vitafoam reports revenue growth to N82.58 billion
Vitafoam Nigeria Plc has reported a substantial revenue increase of 56% for the third quarter of 2024, reaching N82.58 billion, up from N52.99 billion in...
Category : Finance
Nigeria finance updates, treasury bills, bonds, exchange rates etc
Hardships are caused by the Naira Float, not subsidy removal – Expert
A financial expert, Dr. Olutayo Obadina, has attributed the current economic hardship in Nigeria to the government’s decision to float the naira, rather than the...
CBN is working to fill the $294 billion financing shortfall for women-led MSMEs
The Central Bank of Nigeria (CBN) has taken decisive steps to address the $294 billion financing gap that women-owned micro, small, and medium enterprises (MSMEs)...
Naira exchange rates September 2024
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD)Buy/Sell Naira/Pound (NGN/GBP)Buy/Sell Naira/Euro (NGN/EUR)Buy/Sell September 30, 2024 1690 / 1700 2235 / 2265 1835 / 1860...
DMO provides two types of savings bonds available for subscription
The Debt Management Office (DMO) has opened the October 2024 Federal Government of Nigeria (FGN) savings bond offer, providing two bond series with attractive interest...
Bank deposits increase by 16.5% despite a struggling economy
Despite the ongoing economic hardship in Nigeria, banks have seen a remarkable increase in customer deposits, indicating that many individuals and institutions are increasingly holding...
Wema Bank Earns New Certification
Wema Bank has been recognized for fostering a culture of innovation and for being the best workplace for millennials. The bank announced that it received...
CBN Gives PoS Operators One Month to Comply with Aggregator Usage Directive
The Central Bank of Nigeria (CBN) has issued a directive mandating that all Point of Sale (PoS) operators must route transactions through licensed Payment Terminal...
Naira Exchange Rates August 2024
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD) Buy/Sell Naira/Pound (NGN/GBP) Buy/Sell Naira/Euro (NGN/EUR) Buy/Sell August 30, 2024 1630 / 1640 2110 / 2140...
CBN Lifts Suspension on Standing Lending Facility, Sets SLF Rate at 31.75%
The Central Bank of Nigeria (CBN) has officially lifted the suspension on the Standing Lending Facility (SLF), a key mechanism that banks use to manage...
FCMB Pension CEO Christopher Bajowa Elected as New PenOp President
Christopher Bajowa, the Managing Director and Chief Executive Officer of FCMB Pension Limited, has been appointed as the new President of the Pension Fund Operators...
FCMB Announces New Board Members
First City Monument Bank Limited (FCMB) has added Ademola Adebise and Mrs. Olufunmilayo Adedibu to its board of directors. In a statement released on Wednesday,...
Two FG savings bonds are available for subscription through the DMO
DMO Offers Federal Government Savings Bonds for Subscription at N1,000 Per Unit The Debt Management Office (DMO) has announced the availability of two Federal Government...
UBA emerges most visited Nigerian banking website
The United Bank for Africa has been named the most visited banking website in Nigeria, as it received 2.36 million visits in June. According to...
Naira Exchange Rates July 2024
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD) Buy/Sell Naira/Pound (NGN/GBP) Buy/Sell Naira/Euro (NGN/EUR) Buy/Sell July 31, 2024 1595 / 1600 2040 / 2080...
CBN jacks up interest rate again amidst rising inflation
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has jacked up the Monitoring Policy Rate (MPR) by 50bps moving interest rate to...
Senate amends Finance Act to allow imposition of windfall tax
The Senate, on Tuesday, passed the Finance Act (amendment) Bill, 2024 to provide for the imposition of Windfall Tax, assessment and review of profit declarations....
FG offers three bonds valued at N300bn for subscription
The Debt Management Office is offering three Federal Government of Nigeria bonds valued at N300 billion for subscription at N1,000 per unit. According to the...
CBN resumes dollar sales to BDCs, halts Naira depreciation
The Central Bank of Nigeria, CBN yesterday, announced the resumption of dollar sales to bureaux de change, BDCs, a development that reversed the sharp depreciation of the...
CBN to sell $20,000 to each BDC at N1,450/$1
The Central Bank of Nigeria (CBN) has announced the approval of the sales of FX to eligible Bureau De Change (BDCs) to meet the demand...
World Bank appoints new country director for Nigeria
The World Bank yesterday appointed Dr. Ndiamé Diop as new Country Director for Nigeria. The bank in a statement said: “The newly appointed Country Director for...
CBN to slow down rate hikes soon – Cardoso
The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has stated that it will soon be able to slow down increases in the...
Nigeria wins right to host $5bn African Energy Bank
Nigeria has been granted the hosting rights for the $5bn African Energy Bank, the Federal Government announced on Thursday. It said the right was granted...
Access Holdings named Top Tier-1 Bank in 2024 PBSI report
In recognition of its outstanding performance, Access Holdings PLC has been named the leading Tier-1 Bank in the 2024 Proshare Bank Strength Index (PBSI) report....
Naira Exchange Rates June 2024
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD) Buy/Sell Naira/Pound (NGN/GBP) Buy/Sell Naira/Euro (NGN/EUR) Buy/Sell June 28, 2024 1520 / 1530 1875 / 1900...
FG disburses N27.2 billion to nano businesses in 3 months under trade grant scheme
The federal government has disbursed the total sum of N27.2 billion within April and June 2024 (3 months) of the N50 billion grants earmarked for...
Analysts link currency in circulation decline to interest rate hike
Financial analysts have attributed the decline in the value of currency outside banks to the Central Bank of Nigeria’s tightening of the Monetary Policy Rate...
President Tinubu approves N150,000 grant for MSME clinic participants in Nigeria
President Bola Tinubu has mandated the disbursement of a N150,000 grant to each participant of the Expanded National MSME Clinic. This announcement was made by...