Home Business Finance

Finance

As a result, the Nigerian Exchange (NGX) Limited All-Share Index (ASI) rose 0.7 per cent to close at 39,170.95, just as market capitalisation rose N150.8 billion to close higher at N20.4 trillion.

NGX suspends trading in GTBank shares ahead of holdco transition

The Nigerian Exchange has halted trading in the shares of Guaranty Trust Bank (GTB) Plc, as the bank moves to its transition to a holding company.
PayPal said Friday it is raising fees for some of its newer products “to better align our pricing with the value that our products and services provide,” according to a blog post by senior vice president Dan Leberman. The changes will affect how much PayPal merchants pay per transaction, and take effect August 2nd.

PayPal raises merchant fees on some transactions

PayPal said Friday it is raising fees for some of its newer products “to better align our pricing with the value that our products and services provide,” according to a blog post by senior...
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Nigeria could launch pilot digital currency by year-end – central bank

Nigeria's Central Bank is preparing a digital currency pilot that could launch as early as the end of this year, its director of information technology said in a recording heard by Reuters on Friday.
A new report by the World Bank has indicated that the execution of major infrastructural projects in Nigeria was being driven by foreign sponsors.

World Bank faults Nigeria’s foreign exchange management system

“Significant spreads between the official, the IEFX, and the parallel exchange rate persisted throughout 2020 and as of April 2021, the spread between the official and the IEFX rate was estimated at 8% and between the IEFX and the parallel rate, reached 18% (the spread between the official and the parallel rate was 27%),” the World Bank added.
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

Naira appreciates at N493 to dollar in parallel market

The naira, on Thursday, appreciated by 1.8 percent to N493 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) increased forex supplies to banks.

IMF advises Nigerian government to keep central bank overdrafts within legal limits

The International Monetary Fund (IMF) has advised the federal government to keep reliance on overdrafts from the Central Bank of Nigeria (CBN) within legal limits.

SEC to launch incubation programme for fintechs

The Securities and Exchange Commission (SEC) has announced plans to launch a regulatory incubation (RI) programme for fintechs operating or seeking to operate in the Nigerian capital market.
Nigeria Naira

Naira slides again at official market

Naira for the second day in a row fell against the U.S. dollar at the official market Wednesday, but managed a rebound at the parallel market, a day after hitting its lowest black-market rate in at least four years.
A Zenith Bank logo is seen on a sign on top of the bank in Freetown, Sierra Leone August 19, 2017. REUTERS-Afolabi Sotunde

Zenith Bank emerges best corporate governance financial services in Africa 2021

Zenith Bank Plc has been named as the Best Corporate Governance ‘Financial Services’ Africa 2021 by the Ethical Boardroom for the second consecutive year.
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

Naira falls amid foreign reserves decline

Naira fell significantly against the U.S. dollar at the unofficial market on Tuesday, after Nigeria’s foreign reserves plunged to its lowest level in four years last week.

NAICOM partners FRSC on insurance of 10 million uninsured vehicles

The National Insurance Commission (NAICOM) has partnered the Federal Roads Safety Corps (FRSC) on enforcement of compulsory motor insurance in the country.
The logo of the International Monetary Fund (IMF) is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido-File Photo

IMF advocates currency derisk to attract FDI into Africa

The international Monetary Fund (IMF) has stressed the need to address currency risk, exit risk as well as project risks which hinders foreign investments into Sub Saharan Africa.
Nigeria Naira

Nigeria’s inflation drops to 17.93 percent

The Consumer Price Index (CPI) which measures inflation dropped to 17.93 per cent (year-on-year) in May compared to 18.12 per cent in the preceding month, according to the National Bureau of Statistics (NBS).
Nigerian National Petroleum Corporation (NNPC)

NNPC to supply oil to Indonesia, subsidiary eyes $70 million profit

Nigerian National Petroleum Corporation (NNPC) through its subsidiary Duke Oil has sealed a pact to supply 30,000 barrels per day crude oil supply to Indonesia’s state oil corp, Pertamina, and Indian Oil Corporation.
The Central Bank of Nigeria (CBN) has agreed in principle to mint The Gambian Dalasi.

Gambia explores Nigeria to mint currency

The CBN Governor, Godwin Emefiele, agreed to the currency minting proposal from the Governor of the Central Bank of The Gambia, Buah Saidy, who led a delegation to visit him on Tuesday.
The supreme court, on Friday, dismissed a suit filed by Shell Petroleum Development Company of Nigeria (SPDC), seeking the review of a judgment ordering it to pay N17 billion to some Ogoni communities in Rivers state.

Nospetco investors get Supreme Court’s verdict to retrieve N22.45 billion funds

The Supreme Court of Nigeria has ruled that Investors in Nospetco Oil & Gas Ltd (Wonder Bank) whose N22.45 billion funds are being trapped in the Central Bank of Nigeria, for over 14 years, can go to the appropriate court for recovery of their money.
Africa Development Bank (AfDB) is planning to invest $10 billion for the expansion of renewable energy projects in the continent, over the next five years.

AfDB launches $464 million Kangaroo social bond

The African Development Bank said on Monday it is returning to the Australian capital market with the launch of a 5.5-year $464 million Kangaroo social bond.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

CBN denies plan to nationalise Unity Bank

The report had claimed that the apex bank’s target examination of Unity Bank showed that the tier 2 lender is in ”grave financial condition”, with a capital adequacy ratio (CAR) and non-performing loans (NPL) ratio that breached prudential standards.
The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL PLC) has facilitated over N148 billion in finance and investments for agriculture and agribusiness.

House to investigate agricultural loans, disbursement to farmers

The House of Representatives has mandated its committee on banking and currency to investigate disbursements of all agricultural loans and credit facilities to farmers.
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

House asks central bank to prevent further slide of Naira

The House of Representatives has asked the Central Bank of Nigeria (CBN) to halt the downward spiral in the value of the naira against the dollar.

El Salvador approves Bitcoin as legal tender

Lawmakers in the Central American nation’s Congress passed a bill late Tuesday that will eventually allow the famously volatile digital currency to be used for many aspects of daily life, from property purchases to tax contributions.

DBN reaffirms commitment to environmental sustainability

The Development Bank of Nigeria (DBN) has reaffirmed its commitment to environmental sustainability, pledging to entrench positive practices in its operations and among its stakeholders.

Recent Stories

Catalan leader Jordi Cuixart holds a banner in front of the Lledoners prison after the Spanish government announced a pardon for those who participated in Catalonia's failed 2017 independence bid, Sant Joan de Vilatorrada, near Barcelona, Spain, June 23, 2021. REUTERS/Albert Gea

Spain to separatists: Pardons not a step towards Catalan referendum

Spain's government said on Wednesday that pardons granted to nine jailed Catalan separatists leaders did not mean it was prepared to discuss a referendum on independence for the region
An ex-BB9ja housemate, Nina Onyenobi aka Nina Ivy, has been stripped of her brand ambassador deal with Mav Herbals, a butt enlargement brand, after going public with her Brazilian Butt Lift (BBL) procedure.

Nina Ivy stripped of brand endorsement over contract breach

An ex-BB9ja housemate, Nina Onyenobi aka Nina Ivy, has been stripped of her brand ambassador deal with Mav Herbals, a butt enlargement brand, after going public with her Brazilian Butt Lift (BBL) procedure.

MSF asks Cameroon to allow it to resume work in hotspot

Medical charity MSF on Tuesday asked Cameroon to let it resume work in the country's insurgency-riven English-speaking west, saying tens of thousands were deprived of medical care.
Nigeria Naira

Nigeria’s naira gains at official market

Naira gained against the U.S. dollar on Tuesday at the official market, a day after a major slip at the official and parallel markets.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Three persons feared killed over stolen phone in Kogi

No fewer than three persons were killed over an alleged stolen mobile phone in Lokoja, Kogi State capital.

Most Popular

The Emir of Dutse, HRH Nuhu Sanusi says in spite being surrounded by insecurity troubled states, Jigawa has remained the most peaceful in the country because of inclusive governance.

Dutse emir: Why Jigawa is peaceful

The Emir of Dutse, HRH Nuhu Sanusi says in spite being surrounded by insecurity troubled states, Jigawa has remained the most peaceful in the country because of inclusive governance.

Mike Ozekhome: President Buhari disconnected from Nigerians

Chief Mike Ozekhome, SAN, has said that President Muhammadu Buhari is disconnected from Nigerians and erroneously believes that the problem of Nigeria is how to make local governments functional and the Judiciary independent, instead of people’s yearnings on restructuring.
U.S. President Joe Biden delivers remarks as he commemorates the 50 millionth coronavirus disease (COVID-19) vaccination with a number of vaccine recipients in the South Court Auditorium at the White House in Washington, U.S., Feb. 25, 2021. REUTERS

US to share millions of coronavirus vaccines with Latam, Africa, Asia

The White House on Monday laid out a plan to share 55 million U.S. COVID-19 vaccine doses globally, with roughly 75% of the doses allocated to Latin America and the Caribbean, Asia and Africa through the COVAX international vaccine-sharing program.
Barcelona star Ousmane Dembélé limped off with an injury during France’s frustrating draw with Hungary at Euro 2020.

Barcelona star suffers injury blow during France’s draw vs Hungary

Barcelona star Ousmane Dembélé limped off with an injury during France’s frustrating draw with Hungary at Euro 2020.
Officials in Tokyo are forging ahead with hosting the Olympics from July 23. Philip FONG-AFP

Tokyo scraps Olympics public viewing sites

Tokyo will cancel all public Olympics viewing events in an effort to reduce the risk of coronavirus infections, the city governor said Saturday.