Cardoso, Oyedele sign Monetary-Fiscal policy coordination MOU
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) and the Federal Ministry of Finance have signed a Memorandum of Understanding (MOU) on Monetary-Fiscal Policy Coordination to strengthen their partnership in the pursuit of stronger macroeconomic management, lasting economic stability and sustainable prosperity for all Nigerians. The Governor of the CBN, Mr. […]
High interest rates: Manufacturers withdraw from bank loans
•Loan book size drops 20.3%, finance cost declines 52.8% •Profit rebounds to N2.5trn •Sector’s delinking from real economy, worrisome trend —Muda Yusuf •Banks’ income may fall below expectations —Adonri •This is fragile recovery —Egbomeade By Peter Egwuatu, Asst. Business Editor Against the backdrop of high interest rate regime, leading manufacturers have scaled down bank borrowings significantly. Details […]
PTML Customs intercepts cocaine worth N29.4bn from Sierra Leone, hands over to NDLEA
By Cynthia Alo The Nigeria Customs Service (NCS), Port and Terminal Multiservices Limited (PTML) Command, said on Tuesday it intercepted a cocaine shipment worth N29.4 billion. Comptroller Joe Anani, Area Controller of the PTML Command, told reporters the drugs were discovered in an empty 20-foot container brought in from Freetown, Sierra Leone, during a routine disinfection […]
H1’25: Fidelity Bank grows gross earnings by 46% to N748.7bn
By Peter Egwuatu Fidelity Bank Plc has recorded a gross earning of N748,7 billion for the half-year ended 30 June 2025, H1’25,representing a 46% growth from N512.9 billion recorded in the same period 2024, HI’24. Highlights of the financial results which was uploaded on the Nigerian Exchange Limited, NGX shows that the bank delivered robust results […]
OPS endorses N20bn container-insurance scheme to scrap deposit fees
By Godwin Oritse The Organised Private Sector (OPS) represented by Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has welcomed the introduction of a N20 billion collective insurance bond backed by a consortium of insurers to replace the long-standing container deposit system in Nigeria’s maritime trade. The new scheme, designed to protect international […]
Investors await review of CGT as stock market declines 1.7%
By Peter Egwuatu The Nigerian stock market recorded a significant decline Week on Week, WoW following sell off by institutional investors over the new tax reform, which is expected to raise the Capital Gain Tax, CGT from January next year. Expectedly, the market dropped by 1.7 %, with the Nigerian Exchange Limited, NGX All Share Index […]
