Subsidy removal: FG, states, LGs allocations hit N10.14tn
The removal of subsidy on Premium Motor Spirit, popularly called petrol, pushed up the statutory revenue allocations from the Federation Account that was shared by...
Category : Finance
Nigeria finance updates, treasury bills, bonds, exchange rates etc
Adaora Umeoji has been appointed as the GMD/CEO of Zenith Bank
Zenith Bank Plc has announced the appointment of (Dr.) Adaora Umeoji, as Group Managing Director/Chief Executive with effect from June 1, 2024, subject to approval by...
Notore appoints chairman after three years
Notore Chemical Industries has announced the appointment of Femi Agbaje as the new chairman of its board of directors. The appointment comes more than three...
FG plans fresh borrowing via Eurobond in June
The Federal Government has enlisted the expertise of leading global investment banks, including Citibank NA, JPMorgan Chase & Co, and Goldman Sachs Group Inc., to...
Presidential Grant Scheme targets 1m Nano businesses across 774 councils
The Federal Government has rolled out the Presidential Conditional Grant Scheme (PCGS) to empower about one million Nano businesses across the 774 local government areas across the...
Vitafoam to pay N1.95bn dividends
The shareholders of Vitafoam Nigeria PLC have approved the N1.95bn dividend proposed by the company’s board of directors. The shareholders gave their approval at the...
CBN reports 433% upsurge in remitances to $1,3bn in February
LAGOS—The Central Bank of Nigeria, CBN, has reported a 433 per cent upsurge in Diaspora remittances to $1.3 billion in February from $300 million in...
LASG, ACCA train civil servants in finance
Lagos State Government has partnered with the Association of Chartered Certified Accountants to build the capacity of civil servants in finance. The three-day workshop with...
Transcorp Power lists N1.8tn shares on NGX
Transcorp Power Plc has been listed on the Nigeria Exchange Limited more than four years ahead of the projection of the chairman of the board...
NGX Group’s shareholders to get N1.5bn dividend
The shareholders of the Nigerian Exchange Group will be earning N1.5bn dividends. In a statement on the results signed by the Head of Marketing &...
The outcome of the MPC meeting on February 2024
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting for February 2024. This meeting marks the first...
CBN Communique 150 of Monetary Policy Committee Meeting held February 2024
MONETARY POLICY COMMUNIQUE NO.150Date: Tuesday, 27 February 2024Ref: CBN/MPC/COM/150/293MONETARY POLICY RATE INCREASED BY 400 BASIS POINTS TO 22.75 PERCENT.The Monetary Policy Committee (MPC) of the...
Expectation of a Major Rate Hike as the MPC Holds its Meeting Today
The Central Bank of Nigeria (CBN) will on Monday and Tuesday conduct the first Monetary Policy Committee (MPC) meeting under Governor Yemi Cardoso, with many analysts expecting a significant increase...
Nigeria, Germany partner on SME growth
Nigeria and Germany have agreed to strengthen collaboration to boost Micro Small and Medium Scale Enterprises in the country. According to the News Agency of...
Naira exchange rates February 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 February 29, 2024 1440 / 1450 1785 / 1800...
Adewole resigns as MD of LivingTrust Mortgage Bank
Mr Adekunle Adewole has resigned as the Managing Director of LivingTrust Mortgage Bank. His resignation was contained in a corporate notice filed with the Nigerian...
BUA Foods, Led by Abdul Samad Rabiu, Record $610 Million Revenue with a Remarkable 74% Growth in 2023
BUA Foods Plc, a prominent food conglomerate under the BUA Group and predominantly owned by Nigeria’s second-richest man, Abdul Samad Rabiu, has announced an exceptional...
Fidelity Bank Partners with Temile Development Company to Boost Nigeria’s Gas Revenue Growth.
Temile Development Company Ltd, a prominent indigenous player in Nigeria’s oil and gas industry, recently marked a significant achievement by commissioning a state-of-the-art 23,000 cubic...
Nigeria’s Pension Fund Assets Soar to N18.36 Trillion in 2023: A 22.4% Year-on-Year Surge.
The Pension Fund Operators Association of Nigeria (PenoP) has announced a significant surge in Nigeria’s pension fund assets, reaching N18.36 trillion by the close of...
Naira exchange rates January 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 January 31, 2024 1460 / 1470 1845 /1865 1550...
Nigeria seals massive $7 billion investment deal with India
The Federal Government of Nigeria has secured $7 billion out of the $14 billion investment deal promised to the country during the G20 Summit in India last year. This...
Elevating Beauty and Hygiene: Dettol Unveils Ini Dima-Okojie as face of newly relaunched Dettol skincare soap.
Nigeria’s leading hygiene brand, Dettol, has announced superstar actress Ini Dima-Okojie as the new brand ambassador of its newly relaunched category product, Dettol Skincare, which...
Globacom Commemorates Two Decades of Dedication, Rewarding Long-Serving Staff at ‘Twenty & Unlimited’ Extravaganza.
In a grand celebration of its 20th anniversary, Globacom, Nigeria’s leading digital solutions provider, hosted an extravagant appreciation ceremony at the Eko Hotel and Suites...
Naira plunges to 1300/$ at parallel market
The naira tumbled to N1,300/$ at the parallel market on Tuesday. This is as it closed trading on the Peer-to-Peer cryptocurrency window at N1,315.3/$1 on...
FG saves N8tn from subsidy removal, FX reform –Tinubu panel
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the Federal Government will be saving N8tn annually from the...
Afreximbank and UBA Unveil Initial Release of US$2.25 Billion in Crude Oil Prepayment Facility.
In a groundbreaking move, the African Export-Import Bank (Afreximbank) successfully facilitated a syndicated US$3.3 billion crude oil prepayment facility, sponsored by the Nigerian National Petroleum...
Access Holdings and First Bank of Nigeria Holdings Surpasses N1 Trillion Market Capitalization on the Nigerian Exchange.
Access Holdings Plc and the First Bank of Nigeria Holdings have crossed N1tn market capitalisation at the close of Tuesday’s trading on the Nigerian Exchange...
Transcorp, Chams, CWG post over 700% return on Investment.
It was a harvest of capital gains for the shareholders of Transcorp Hotels Plc, Chams Holding Company Plc and CWG Plc, as they led the...