The Naira is set to depreciate to N365 per dollar in the Investors and Exporters (I&E) window before the end of the year following rising demand for dollars which is expected to intensify this week.

West Africa’s monetary union has agreed with France to rename its CFA franc the Eco and cut some of the financial links with Paris that have underpinned the region’s common currency since its creation soon World War Two. Under the deal, the Eco will remain pegged to the euro but the African countries in the […]

The Nigeria Customs Service (NCS), Apapa Command, generated N413, 732,818,554.19 as revenue from Jan. 1 to Dec. 19, the Customs Area Controller, Comptroller Mohammed Abba-Kura has said. Briefing journalists on its activities on Friday in Lagos, Abba-Kura said that the command had surpassed its revenue target for 2019 of N372 billion, which translated to 111 […]

Ondo State Governor, Oluwarotimi Akeredolu on Thursday presented a fiscal proposal of N177 billion for 2020 to the State’s House of Assembly. The 2020 budget agged “Budget of Growth.” was presented by Akeredolu to the Assembly through the Commissioner for Economic Planning and Budget, Emmanuel Igbasan, said it reflected the current administration’s commitment to work […]

President Muhammadu Buhari on Tuesday in Abuja signed the 2020 appropriation bill of N10,594,362,364,830 into law. News Agency of Nigeria (NAN) reports that the budget was increased from N10.33 trillion to N10.594billion by the National Assembly. NAN observed that N560.47 billion of the total budget is for statutory transfers while N2.7 trillion is for debt […]

By Henry Umoru – Abuja The Senate has begun the consideration of President Muhammadu Buhari’s request of  2016- 2018  External Borrowing to the tune of $29.96 billion to be spent by the Federal Government to execute key infrastructural projects. After the Executive Communication read at Plenary by the Senate Leader, Senator Yahaya Abdullahi, All Progressives Congress, […]

Financial analysts at CSL Research, a member of the FCMB Banking Group, have expressed concern over the decline in the funding of Nigeria’s real sector.

On the other hand, analysts have projected higher inflation rate for November, and hence the fourth consecutive monthly increase in the inflation rate.

A CLOUD of uncertainty hangs over foreign investment inflow into Nigeria in 2020 following the 78 percentage point decline, year-on-year, YoY, in growth rates recorded in the nine months ending September 2019.

FIRSTBank Nigeria Limited has commended Taidob College Abeokuta for winning four awards at the 2019 African Company of the Year competition

THE Board of Directors of the African Development Bank has approved a $124.2 million loan to finance the Urban Water Sector Reform and Akure Water Supply and Sanitation Project in Nigeria.

FIDELITY Bank Plc has rewarded thirteen customers with N19 million for being faithful and committed to servicing their accounts. The lucky winners emerged from the second monthly/ first bi-monthly draw of the Get Alert in Millions Savings Promo Season 4, which held at the bank’s regional office in Abuja.

Analysts at the FBNQuest Research, an arm of the FBN Merchant Bank, have given a comparative view of Nigeria’s pension assets under management indicating under performance of peers. According to their report, ‘‘The Assets Under Management (AUM) of the regulated pension industry increased by 16.1% y/y in October to N9.81trn (US$32.0bn), and by 2.4% m/m. They represent just 7.7% of 2018 GDP.  This coverage lags peer emerging markets because the Nigerian industry, dating from 2004, is one of the newest. 

Nigeria’s inflation figure is still on the upswing with Financial Derivative Company, FDC, hinting of 127 bases point uptick.

The Managing Director, Imowo Microfinance Bank, MfB, Ijebu Ode, Ogun State, Mr. Ajayi Abiodun, in this interview, said that the survival of a bank is largely determined by its financial performance which requires good management and corporate governance, rather than capital base. He also highlighted other issues affecting the sub sector and its operations.