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The Central Bank of Nigeria (CBN) has unveiled a promotional offer to encourage the inflow of diaspora remittances into the country, with the announcement of the 'CBN Naira for...

Nigeria Insurers Profit Margins Improve Amid Rising Costs

Despite the unfavorable underwriting conditions as evidenced by rising claims expenses and high inflationary pressures, the largest listed insurers are able to translate top...

GTB HoldCo Status Delayed By Lack of Regulatory Approval

Guaranty Trust Bank (GTBank) plans to list a new non-operating holding company (HoldCo) named Guaranty Trust Holding Company Plc by January 5, 2021 on...

Nigeria Money Supply Expands 10.97% Amid Surging Inflation

The broadest money supply, M3, increased by 10.97 percent in December 2020 relative to December 2019 and is well above the 6.84 percent provisional...

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Ellah Lakes Undertakes to Sell Down 25% of Shares, But Where’s the Value?

Following discussions with the Nigerian Stock Exchange (NSE), on the lack of liquidity in the shares of Ellah Lakes Plc, due to...

Elon Musk Loses $27 billion as Global Markets Crater

Elon Musk set records last year for one of the fastest streaks of wealth accumulation in history. The reversal...

No More Estimated Billing, Replace Faulty Meters – NERC Orders DisCos

The Nigerian Electricity Regulatory Commission (NERC) has mandated the electricity Distribution Companies (DisCos) to replace faulty and obsolete meters...

Bitcoin Extends Losses as Global Risk Assets Slide

Bitcoin’s appeal as a hedge against inflation is being put to the test, with the largest cryptocurrency slumping along...

U.S Stocks Slump as Treasury Yields Top 1.5%

Stocks and bonds sold off after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more...

FG Approves Establishment of SIM Swap Centres by MNOs

The Ministerial Task Force on the NIN-SIM registration held its 4th Review Meeting on Friday, February 26, 2021.  The...

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Banks Hooked on Non-Core Lending Income Despite CBN Push

Nigerian banks are still largely reliant on income from investment securities, and other non-core banking functions to boost revenues and juice earnings, never mind...

Bad Policies Explain Poor Growth 5-years into Buhari’s Tenure

In 2008, the global economic recession destroyed demand for energy and toppled crude from its all-time high above $147 a barrel in July 2008 to a...

Cement Prices Can Crash to N2,200 Per Bag – BUA Chairman

The price cement in Nigeria currently hovering at about N3,500 per bag can fall by some 40 percent to N2,200 if there is an...

Lackluster PENCOM Leadership Fritters Nigeria’s Pension Reform Gains

Kehinde Akintola (real name) worked for 12 years with a Lagos based business media company that consistently failed to remit Pensions to his pension...

Much of Nigeria Can’t Access BOI Project Intervention Funds

Two recessions over a five-year period has left a lot of Nigerian businesses needing unprecedented government support which has allowed more struggling companies to...
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Energy

No More Estimated Billing, Replace Faulty Meters – NERC Orders DisCos

The Nigerian Electricity Regulatory Commission (NERC) has mandated the electricity Distribution Companies (DisCos) to replace faulty and obsolete meters for their customers. This was made...

Seplat Denies Link to Cardinal Drilling Loan Facility, to Begin $5m Share Buyback

Seplat Petroleum Development Company Plc, a Nigerian independent energy company has denied any link to a loan facility issued by Access Bank to Cardinal...

Nigeria Projects Take Lion Share of $4.6bn China’s Overseas Energy Lending in 2020

More than half of China’s $4.6 billion in overseas energy lending went to projects in Africa in 2020, data from Boston University’s Global Energy...

Economy
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Earn N5 for Every $1 of Remittance Inflow – CBN

The Central Bank of Nigeria (CBN) has unveiled a promotional offer to encourage the inflow of diaspora remittances into...

Osinbajo Disavows Unorthodox Policies in Rare Rebuke of Emefiele

Nigerian Vice President Yemi Osinbajo has in an unprecedented move disavowed a lot of the policies being spearheaded by...

Bad Policies Explain Poor Growth 5-years into Buhari’s Tenure

In 2008, the global economic recession destroyed demand for energy and toppled crude from its all-time high above $147...

Nigeria Returns to Positive Growth in Q4 as GDP Rises 0.11%

Nigeria’s Gross Domestic Product (GDP) grew by 0.11 percent(year-on-year) in real terms in the fourth quarter (Q4) of 2020,...

Nigeria to Convert N10trn CBN Ways and Means Financing to 30-Year Debt

Nigeria’s federal government has set the terms for the conversion of its stock of central bank ways and means...

Buhari Approves Trillion Naira Infraco Firm to Address Infrastructure Deficit

President Muhammadu Buhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an...

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