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...
Category : Finance
Nigeria finance updates, treasury bills, bonds, exchange rates etc
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...
Naira exchange rates December 2023
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 Dec 29, 2023 1205 / 1215 1530 /1540 1275...
Dangote refinery gets another one million crude barrels
The Dangote Petroleum Refinery, on Monday, received the fourth shipment of one million barrels of bonny light crude oil, supplied by the Nigeria National Petroleum...
Investors inject N198tn in fixed income market
Investment in the Fixed Income and Currency market defied the prevalent economic climate in the country in 2023, with investors splashing about N196.79tn on short...
FG assures Nigerians of food security
The Federal Government of Nigeria has promised to boost food security in the country this year. President Bola Tinubu gave this assurance in his New...
NOVA Merchant Bank appoints new CEO
NOVA Merchant Bank Limited, a leading merchant bank in Nigeria, has announced its plans to transition into a full commercial banking entity after successfully securing...
Your funds are safe in banks, CBN assures depositors
The Central Bank of Nigeria, CBN, has assured banks customers that their funds are safe in the banks.This assurance came on the back of some...
Zenith Bank wins best bank for digital solutions
Zenith Bank Plc has emerged as the winner of the ‘Best Bank for Digital Solutions in Nigeria’ at the 2023 Euromoney Awards for Excellence. In...
CBN lifts ban on cryptocurrency transactions
The Central Bank of Nigeria (CBN) has lifted the ban placed on cryptocurrency transactions in Nigeria in a move to regulate its operations. The apex...
Naira falls to N1260/$ in parallel market
The naira depreciated yesterday to N1,260 per dollar in the parallel market from N1,220 per dollar on Tuesday. Similarly, the naira depreciated to N904.65 per...
First Registrars CEO gets CIS fellowship
The Board of Fellows of Chartered Institute of Stockbrokers has conferred Fellowship on the Chief Executive Officer of First Registrars and Investor Services Limited, Dr...
CBN suspends application for new loans under intervention fundsÂ
The Central Bank of Nigeria, CBN, has suspended application for new loans under it’s development finance intervention funds. The apex bank announced this decision in a...
Banking stocks, MTN drive bullish run on NGX
The Nigerian Exchange Limited, on the first day of trading this week, opened on a bullish note as investors gained N70bn. The trend of the...
CBN cancels large depositors’ fines amid naira scarcity
The Central Bank of Nigeria, on Monday, suspended the processing fees of two per cent and three per cent previously charged on all cash deposits...
Banking index rises by 6% despite concerns over capital
During the past week, the banking index of the Nigeria Exchange Limited recorded the highest gain of 6.08 per cent week-on-week compared to other indexes...
Dangote Refinery Receives Its Maiden Crude Cargo.
In a major step towards boosting Nigeria’s domestic refining capacity and attaining energy security (self-sufficiency), Dangote (www.Dangote.com) Petroleum Refinery and Petrochemicals plant has purchased 1...
Dangote refinery gets first crude supply
The first crude feedstock for Dangote’s 650,000 b/d refinery has arrived the country, according to SP Global quoting market sources and tanker tracking data. The...
Forex inflow hits $11bn in two months – CBN
Nigeria recorded $11.11bn aggregate foreign exchange inflow in July and August, figures obtained from the Central Bank of Nigeria revealed. According to figures obtained from...
Ngozi Okonjo-Iweala And Mo Abudu Listed Among Forbes’ 100 Most Powerful Women.
Currently, Abudu and Okonjo-Iweala are producing the documentary series, Black, Brilliant and Bold for Netflix. The Director-General, World Trade Organization, Ngozi Okonji-Iweala, and media mogul,...
FCMB Group earns N352bn
FCMB Group Plc grew its gross revenue by 75.7 percent to N351.5bn in the first nine months ended September 2023, from N200bn in the corresponding...
Naira exchange rates November 2023
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 Nov. 30, 2023 1157 /1160 1435 /1450 1240 /1250...
CBN plans new round of recapitalisation for banks
The Central Bank of Nigeria (CBN) says it is planning to implement a new round of banking recapitalisation for the Deposit Money Banks (DMBs). Mr...
Nigeria provides 30% return on investment – NEXIM
The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments. The Executive Director of Business Development,...
Companies raise salaries by N4.6tn in six months – NBS
To combat rising inflation in the country, companies increased the salaries of their staff members by 18.35 per cent to N29.45 trillion in the first...
Theophilus Danjuma, Billionaire Philanthropist, Grants $1.36 Million Donation to Nigerian University.
Danjuma has made a $1.36-million donation to the College of Medicine, University of Ibadan — setting a new record for philanthropy in the country. In...
Rand Merchant Bank Wins FMDQ Compliance Award.
Rand Merchant Bank Nigeria has bagged the FMDQ Member Compliance, Secondary Market award for its remarkable achievements in the Nigerian financial market for the period...