UBA hits N608bn Profit After Tax, as gross earnings rise to N2.08trn in 2023
The United Bank for Africa (UBA) has recorded N608 billion Profit After Tax (PAT) as its gross earnings rose to N2 trillion in at the...
Category : Finance
Nigeria finance updates, treasury bills, bonds, exchange rates etc
10 banks operating expenses rise to N3tn
The combined operating expenses of 10 Nigerian banks rose by 42.51 per cent to N3.23tn in 2023 compared to N2.26tn in the previous year, according...
Eterna gets new CEO
Eterna Plc has appointed oil executive and economist, Mr Abiola Lawal, as its new Managing Director/Chief Executive Officer following the resignation of Benjamin Nwaezeigwe. In...
Road to N500b recapitalisation: Bank owners lobby, seek adjustment in share capital composition
Less than a week into the effective date of the exercise, the recapitalisation programme of banks may face its first acid test in the coming...
FX crisis: FG to issue domestic dollar bonds June
The Federal Government has announced plans to initiate the issuance of domestic bonds denominated in foreign currency in the second quarter of this year, precisely...
Naira sells below 1,280/$ at official, parallel markets
The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week...
CBN: Fortifying banks with sufficient capital to drive economic growth
The global financial crisis of 2008 highlighted multiple vulnerabilities within the banking sector in different countries, particularly in Nigeria. In order to mitigate these financial stability...
Naira recovery now tackle inflation — BDCs
The Association of Bureaux de Change Operators of Nigeria has said that the recovery of the naira has led to a relative decrease in the...
Zenith emerges Nigeria’s best bank for 4th year
Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time...
Naira exchange rates March 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 March 29, 2024 1250 / 1280 1650 / 1700...
CBN Communique 151 of Monetary Policy Committee Meeting held March 2024
Date: Tuesday, 26 March 2024Ref: CBN/MPC/COM/151/294MONETARY POLICY RATE ADJUSTED BY200 BASIS POINTS TO 24.75 PER CENTThe Monetary Policy Committee (MPC) of the Central Bank of...
CBN cedes growth for foreign capital inflow as naira nears N1300/$
The Central Bank of Nigeria (CBN) leaves nobody in doubt about outward-looking posturing, which prioritises foreign capital inflow at the expense of the survival of...
CBN raises interest rate to 24.75%
The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$. This was contained in...
CBN sells $10,000 to BDC at N1,251/$1
The Central Bank of Nigeria has issued a circular to Bureau De Change operators informing them of the sale of $10,000 to each BDC at...
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...
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...