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Key Stakeholders Gather for Nigerian Peering and Interconnection Forum to Discuss Internet Infrastructure Expansion

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The Nigerian Peering and Interconnection Forum (ngPIF) recently took place in Lagos, bringing together key stakeholders from Africa’s internet ecosystem to discuss strategies for...
Business

NAIRA APPRECIATES IN OFFICIAL MARKET, TRADING AT N1,630.45 TO THE DOLLAR

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On Tuesday, the Naira appreciated in the official market, closing at N1,630.45 to the dollar, reflecting a 2.40% gain from Monday’s rate of N1,670.65....
Business

IFC SIGNS AGREEMENT WITH CBN TO BOOST LOCAL FINANCING FOR NIGERIAN BUSINESSES

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The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with the Central Bank of Nigeria (CBN)...
Business

MIXED PERFORMANCE OF NAIRA IN FOREIGN EXCHANGE MARKET

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The Naira showed mixed performance in the foreign exchange market yesterday, appreciating to N1,730 per dollar in the parallel market, up from N1,740 per...
Business

ACCESS CORPORATION’S CAPITAL RAISING AND FUTURE BANKING VISION

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Access Corporation Plc, parent company of Access Bank Limited, has announced its intentions to raise additional capital in U.S. dollars, with the first phase...
Business

IMF REPORT REVEALS GLOBAL MANUFACTURING SHIFT TOWARD EMERGING MARKETS

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In its latest World Economic Outlook, the International Monetary Fund (IMF) has highlighted a major shift in global manufacturing from advanced economies to emerging...
Business

NAIRA WIPES OUT 8-MONTH GAINS AS PARALLEL MARKET RATE HITS N1,740/$1; CBN MAINTAINS STABLE NAFEM RATE AT N1,600

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The Naira is facing a significant depreciation trend, closing at N1,740/$1 in the parallel market over the weekend, which indicates a reversal of the...
Business

IMF Highlights Global Economic Challenges and Impact of High Prices on Families

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The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, addressed key economic challenges at the 2024 Global Policy Agenda briefing, part...
Business

POLARIS BANK REAFFIRMS DIGITAL LEADERSHIP WITH BAFI AWARDS WINS

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Polaris Bank, Nigeria’s leading digital retail commercial bank, has once again demonstrated its digital supremacy in the banking sector by clinching the prestigious title...
Business

NIGERIAN EXCHANGE SEES BULLISH TREND AMID EXPECTATIONS FOR Q3 FINANCIAL REPORTS

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The Nigerian Exchange (NGX) experienced a continued uptrend and bullish sentiment last week, driven by portfolio repositioning in anticipation of favorable third-quarter (Q3) 2024...
Business

NAIRA’S RAPID DEPRECIATION HITS N1,740/$1 IN PARALLEL MARKET AS SUPPLY PRESSURES MOUNT

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The Nigerian Naira continues to face depreciation pressures, with the parallel market rate nearing N1,740 to the dollar at the end of last week,...
Business

CHEVRON NIGERIA LIMITED’S NEW OIL FIELD DISCOVERY: A PIVOTAL MOMENT FOR NIGERIA’S OIL SECTOR

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Chevron Nigeria Limited (CNL) recently announced the discovery of a new oil field estimated to produce 17,000 barrels per day (bpd), marking a critical...
Business

WORLD BANK URGES NIGERIA TO LEVERAGE NYSC FOR INDUSTRIALIZATION, SUPPORTS REFORMS TO BOOST ECONOMY

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The World Bank has emphasized Nigeria's National Youth Service Corps (NYSC) scheme as a valuable asset capable of driving industrial growth, encouraging the Nigerian...
Business

Naira Depreciates to ₦1,740 per Dollar in Parallel Market While Appreciating in NAFEM

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Today, the Naira experienced a slight depreciation in the parallel market, dropping to ₦1,740 per dollar from ₦1,739 per dollar on Thursday. In contrast,...
Business

FIRSTBANK CLARIFIES MISLEADING REPORT ON SYSTEM UPGRADE

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FirstBank has issued a statement addressing a misleading report concerning a recent system upgrade, emphasizing that the information circulated was intended solely for its...
Business

NBS REPORT SHOWS 67.8% OF NIGERIAN HOUSEHOLDS USE FIREWOOD FOR COOKING

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The National Bureau of Statistics (NBS) has released a report revealing that a significant 67.8% of Nigerian households in nine states primarily use firewood...
Business

Nigeria’s External Reserves Reach $40.2 Billion

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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

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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

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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...
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