The Nigeria Export Promotion Council (NEPC) has said the Central Bank of Nigeria (CBN) has approved CFA Franc to be captured on Nigeria Export Proceed (NXP) forms for the repatriation of export proceeds. Executive Director of the NEPC, Mrs Nonye Ayeni, disclosed this while addressing newsmen on the Non-Oil...
BUSINESS
Ecobank Nigeria has reaffirmed its commitment to financial inclusion and savings culture by awarding N42 million to its customers. Head of Consumer Banking, Ecobank Nigeria, Ms Adeola Ogunyemi, made this known at the grand finale of the bank’s Super Rewards ‘Millionaire Geng Promo’ on Friday in Lagos. She said...
The Nigerian equities market closed bullish on Wednesday, leading to N364 billion gains for investors. The positive performance was driven by the release of full-year 2024 financial results from listed companies. Specifically, the market capitalisation, which opened at N64.156 trillion, added 364 billion or 0.57 per cent to close...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, on Tuesday unveiled a new Foreign Exchange (FX) Code to the market. At the event in Abuja, Cardoso stated that it would establish clear and enforceable standards for ethical conduct, transparency, and good governance in the foreign exchange...
The Nigerian stock market opened the week on a positive note to add N795 billion to the portfolios of investors. The performance was driven by the listing of 4.706 billion ordinary shares of Guaranty Trust Holding Company Plc(GTCO) at N44.50 per share. Accordingly, the market capitalisation which opened at...
The chief revenue officer of the federation and Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has been trending since the beginning of this year. And for the right reasons, too. Historically, the tax man has not always been the beloved of the people. Not...
9mobile, a telecommunications service provider, has applauded the Nigerian Communications Commission (NCC) for approving a 50 per cent tariff adjustment. The Chief Executive Officer of 9mobile, Obafemi Banigbe, who commended the NCC in a statement on Friday in Lagos, said that the the tariff adjustment was aimed at addressing...
Neymar’s departure from Barcelona in 2017 remains one of the most shocking transfers in football history. At the time, his decision to move to Paris Saint-Germain (PSG) for a world-record fee of €222 million sent shockwaves throughout the footballing world. While many speculated that financial incentives were the main...
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has announced plans to establish a Compliance Department by February. Cardoso made the announcement on Thursday during the launch of 2025 Macroeconomic Outlook Report, titled: “Stabilisation in Transition: Rethinking Reform Strategies for 2025 and Beyond” by the...
The Nigerian Economic Summit Group (NESG) has painted a positive picture of the nation’s economic outlook for 2025. with the potential to achieve a 5.5 per cent GDP growth rate. NESG, however, pointed out that this positive outlook was only possible provided the current reforms are sustained. The projection...
The equity market reversed its bullish trend on Wednesday, recording a loss of N186 billion. Selloffs in major stocks such as MTN Nigeria, Aradel Holdings, Dangote Sugar and Nigerian Breweries drove the market into negative territory. The market capitalisation of listed equities dropped by N186 billion, or 0.29 per...
The Central Bank of Nigeria (CBN) has announced that the 2025 economic indices indicate a positive outlook, with the nation’s GDP expected to accelerate to 4.17 per cent for faster economic growth. Deputy Governor, Economic Policy Directorate, CBN, Mr Muhammad Abdullahi, revealed this on Tuesday during the 11th edition...
The National Cashew Association of Nigeria (NCAN) has said it can inject $3.7 billion into the Nigerian economy if the industry receives adequate attention, especially from the government. The National President, National Cashew Association of Nigeria (NCAN), Dr Ojo Ajanaku, said this during a media conference on Monday in...
The Nigerian stock market started the week on a positive note, recording a gain of N10 billion or 0.02 per cent, boosting investor portfolios. The Nigerian Exchange Ltd. (NGX) market capitalisation increased from N62.851 trillion at the opening to N62.861 trillion at the close of trading on Monday. Similarly,...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC), has granted approval for tariff adjustment requests by Network Operators in response to prevailing market conditions. NCC’s Director, Public Affairs, Dr. Reuben Muoka, who made this known in a statement on Monday, said the adjustment, capped at a maximum...
Bitcoin, the world’s largest cryptocurrency hits an all-time high of 109,241 dollars on Jan. 20 as Donald Trump prepares to take over the white house as president of the United States. Ahead of the crypto-friendly president’s inauguration and the launch of $TRUMP and $MELANIA issued by Trump and his...
The Securities and Exchange Commission (SEC) has fixed January 31 as deadline for registration renewal of all Capital Market Operators (CMOs). The commission said in a circular issued to the operators on Sunday in Abuja. It said the annual registration renewal would last between January 1 and 31. The...
By OLA MODUPE, Lagos – Ecobank Nigeria and the Nigerian Consumer Credit Corporation (CrediCorp), have entered into partnership with the objective of providing affordable and flexible loans to customers. According to the bank, customers can obtain the loans for the purpose of financing a variety of needs, such as...