Digital Finance growth outpaces confidence — Bridgforte
The rapid growth in digital finance is outpacing public confidence in the financial ecosystem, prompting the Bridgforte Centre for Global Impact to launch a new governance framework and the Trust Lab to strengthen trust in platform-led finance.
S&P 500, Nasdaq bounce back after prior day’s losses
Wall Street stocks mostly rose early Wednesday, bouncing back after the prior session’s losses amid bullish investment sentiment in spite of the US government shutdown.
Non-Interest Capital Market now worth N1.6trn — SEC
The Securities and Exchange Commission (SEC) has announced that Nigeria’s non-interest capital market has grown to N1.6 trillion, reflecting rising investor confidence and expanding participation in ethical finance. Director-General of the SEC, Dr. Emomotimi Agama, disclosed this in Abuja during a press briefing ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled for […]
Rail revenue rises 37.36% N2.72bn in Q1’25By Elizabeth Adegbesan
Revenue generated from rail transport rose by 37.36 per cent Year-on-Year, YoY to N2.724 billion in the first quarter of 2025 (Q1’25) from N2.112 billion in the corresponding period of 2024 (Q1’24). The sharp increase was driven by a 37.4 per cent YoY increase in revenue from passenger transport, to N1.95 billion in Q1’25 from […]
Lagos, Rivers, FCT lead as IGR rises 49% to N3.63 trn
By Elizabeth Adegbesan Lagos, Rivers and the Federal Capital Territory, FCT States took the lead as Internally Generated Revenue (IGR) in 2024 grew year-on-year, YoY, by 49.7 percent to N3.63 trillion in 2024 from N2.43 trillion in 2023. According to the recent National Bureau of Statistics, NBS, IGR 2024 report, Lagos, Rivers, and FCT states recorded […]
FG won’t renew licences of poor-performing DisCos in 2028 – Adelabu
By Obas Esiedesa ABUJA — The Minister of Power, Chief Adebayo Adelabu, on Monday said the Federal Government will not renew the licences of poorly performing electricity distribution companies (DisCos) when they expire in 2028. Speaking during a session on the power sector at the Nigerian Economic Summit 2025 in Abuja, Adelabu blamed the DisCos for […]
FG set to eliminate multiple budgetary operations
By Emma Ujah, Abuja Bureau Chief THE Federal Government may have concluded plan to phase out multiple budget fiscal operations if the disclosures of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, is the current reality. The multiple budgetary fiscal operations entail implementation of more than one Appropriation Acts simultaneously […]
CBN imposes N5m fine on illegal agent banking activities
By Elizabeth Adegbesan THE Central Bank of Nigeria (CBN) has announced that any agent found engaging in non-permissible activities under its newly revised Agent Banking Guidelines will face a minimum penalty of N5 million for the offence and N100,000 for each day the default continues, in addition to forfeiting any profit made from such activities. According […]
Equity investors position for further windfall
…As they pocket N1.2trn last week By Peter Egwuatu The Nigerian stock market has recorded a massive bull’s run in the first three trading days of the last quarter 2025. Combined with bullish trading in the last day of the third quarter, the investors raked in about N1.17 trillion in four trading days last week on […]
High interest rates put Nigerian manufacturers at competitive disadvantage — MAN
…Seeks further MPR cut, special financing window The Manufacturers Association of Nigeria (MAN) have continued to bemoan the high interest rates in the country, noting that the situation has place the nation’s manufacturing sector at a competitive disadvantage against other countries of the world. Director General of MAN, Segun Ajayi-Kadir, noted this while expressing optimism […]
Binding constraints slowdown manufacturing activities in September — REPORT
By Yinka Kolawole There was a marginal decline in expansion of the manufacturing sector in September driven largely by weakness in key sub-sectors of the ecosystem occasioned by binding constraints. This was revealed in the NESG-Stanbic IBTC Business Confidence Monitor (BCM) Index for the Manufacturing sector in September 2025, which signaled that the sector recorded a slowdown […]
NDIC covers 99 % commercial banks’ deposits — MD
…Warns against Ponzi schemes By Emma Ujah & Favour Isaac The Nigeria Deposit Insurance Corporation (NDIC) currently provides full insurance cover for 98.98 percent of total customer deposits in Deposit Money Banks. The Managing Director of the Corporation, Mr. Thompson Sunday, revealed this at the NDIC Special Day at the ongoing 20th Abuja International Trade Fair, […]
NGX Review: Investors gain N1.175trn in 4-day trading week
The Nigerian Exchange Ltd. (NGX) All-Share Index and Market Capitalisation appreciated by 1.02 per cent and 1.31 per cent to close the week at 143,584.04 and N91.135 trillion respectively.
Dollar to Naira exchange rate today, October 3, 2025
Market participants said the official market’s firmness reflects improved FX liquidity and continued foreign-exchange inflows in recent weeks.
NDIC covers 99% commercial banks’ deposits – MD
The Nigeria Deposit Insurance Corporation (NDIC) currently provides full insurance cover for 98.98 percent of Deposit Money Banks’ total deposits.
Functioning steel industry key to Nigeria’s maritime development — SEREC
By Providence Ayanfeoluwa The Sea Empowerment and Research Center, SEREC,has emphasized the importance of a functioning steel industry to an efficient maritime sector in Nigeria. In a report titled, “Nigeria at 65: The Maritime Scorecard We Cannot Ignore”, Head of Research at SEREC, Eugene Nweke, said without a functioning steel industry, Nigeria’s shipyards will remain […]
