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Nigeria’s External Reserves Reach $40.2 Billion

pretty onyi -
The Central Bank of Nigeria (CBN) has announced that the nation's external reserves have increased to $40.2 billion as of October 18, 2024. This...
Business

Naira Depreciates in Parallel Market but Appreciates in NAFEM

pretty onyi -
Yesterday, the Naira depreciated to N1,739 per dollar in the parallel market, compared to N1,735 per dollar on Wednesday. Conversely, it appreciated to N1,601.2...
Business

VERVE INTERNATIONAL HITS NEW MILESTONE WITH 70 MILLION ISSUED PAYMENT CARDS

pretty onyi -
Verve International has announced a new growth milestone, recording over 70 million issued payment cards to date. In a statement, the company highlighted that Verve...
Business

CBN CLARIFIES THERE IS NO DEADLINE FOR OLD NAIRA NOTES

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The Central Bank of Nigeria (CBN) has issued a clarification stating that there is no deadline for the circulation of old Naira notes, dispelling...
Business

Nigerian Breweries Reports Significant Revenue Growth in Q3 2024

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Nigerian Breweries Plc has announced impressive financial results for the third quarter ending September 30, 2024, posting revenue of ₦703 billion, marking a 75%...
Business

FOREIGN EXCHANGE INFLOWS TO NIGERIA REACH $57 BILLION BY AUGUST 2024

pretty onyi -
Foreign exchange (FX) inflows to Nigeria reached $57 billion by August 2024, as reported by the Central Bank of Nigeria (CBN). This announcement was...
Business

NIGERIA’S EXTERNAL RESERVE INCREASES TO $40.2 BILLION

pretty onyi -
As of October 18, 2024, Nigeria's external reserve has reached $40.2 billion, according to the Central Bank of Nigeria (CBN). This update was shared...
Business

AFRICA PRACTICE SURVEY REVEALS 46% OF AFRICAN BUSINESSES HIT BY REVENUE DECLINES, AS 70% TURN TO DIGITAL SOLUTIONS

pretty onyi -
A recent CEO survey conducted by Africa Practice has revealed that 46% of African businesses are experiencing revenue declines due to rising inflation and...
Business

WORLD BANK COMMITS TO INCREASE AGRICULTURE FINANCING TO $9 BILLION ANNUALLY BY 2030

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The World Bank Group has announced a significant increase in its annual agriculture financing, aiming to boost investments to $9 billion by 2030. This...
Business

G-24 URGES IMF AND WORLD BANK REFORMS TO BETTER SUPPORT DEVELOPING ECONOMIES

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The Group of 24 (G-24) has called for comprehensive reforms of the International Monetary Fund (IMF) and the World Bank to better address the...
Business

NIGERIA SUFFERS,THE WORLD HAILS

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For the umpteenth time this year alone, the World Bank has come forward to hail President Bola Tinubu administration’s for adopting the economic model...
Business

IMF LOWERS NIGERIA’S 2024 GROWTH FORECAST TO 2.9%

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The International Monetary Fund (IMF) has revised its 2024 growth forecast for Nigeria's economy to 2.9%, a decrease from the previously projected 3.1%. This...
Business

ZENITH GENERAL INSURANCE SUPPORTS GIRL CHILD EDUCATION WITH LIBRARY DONATION

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In a demonstration of its commitment to empowering communities, Zenith General Insurance has made a cash donation to the Lagoon School Library project in...
Business

KEYSTONE BANK REAFFIRMS FINANCIAL STRENGTH AMID FAKE NEWS

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Keystone Bank Limited has reaffirmed the Central Bank of Nigeria (CBN)'s assurance that it remains safe, healthy, strong, and resilient, with no plans for...
Business

UBA PLC ANNOUNCES 20% GROWTH IN PROFIT BEFORE TAX FOR 9M’24

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United Bank for Africa (UBA) Plc has announced impressive financial results for the nine months ending September 2024, showcasing a 20% growth in profit...
Business

FG SEES SIGNIFICANT REVENUE BOOST FROM VAT AND CIT IN H1 2024

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The Federal Government (FG) is experiencing a substantial increase in its finances, with revenue from Value Added Tax (VAT) and Company Income Tax (CIT)...
Business

NAIRA SHOWS MIXED PERFORMANCE IN FOREIGN EXCHANGE MARKETS

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The Naira experienced contrasting movements in the foreign exchange markets yesterday. In the parallel market, the Naira appreciated to N1,715 per dollar, up from...
Business

UBA POSTS N525.31 BILLION PROFIT AFTER TAX IN Q3

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United Bank for Africa (UBA) Plc reported a profit after tax of N525.31 billion for the third quarter ended September 30, marking a 16.9%...
Business

INNOVATION DRIVING AFRICA’S GROWTH: TOP 5 COUNTRIES LEADING THE WAY

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Countries in Africa are rapidly embracing innovation, which is fueling economic growth and development across the continent. With a wealth of creativity, several nations...
Business

ATCON OPPOSES REINTRODUCTION OF 5% EXCISE DUTY ON TELECOMMUNICATIONS

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The Association of Telecommunications Companies of Nigeria (ATCON) has strongly opposed the proposed reintroduction of a 5% excise duty on the telecommunications sector, warning...
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