ASSETS & FINANCIALS

The naira traded at 702.19/dollar at the close of business on Thursday, as the Central Bank of Nigeria has allowed for a free float of the national currency against the dollar and other global currencies. This means that the currency …

Nigeria’s markets regulator, the Securities and Exchange Commission, SEC has ordered the world’s largest cryptocurrency exchange platform, Binance to halt its operations in the country after allegations emerged that a local unit that courted Nigerian investors through a website was …

Following the suspension of Godwin Emefiele as the Governor of the Central Bank of Nigeria, a financial expert, Mr Mike Eze, Managing Director of Crane Securities Limited,  has stated that the financial market will remain stable until the investigation concludes …

Nigeria, South Africa and Egypt- the three biggest economies in Africa have been fingered for contributing significantly to the continent’s slow pace of economic growth in the decade between 2010 and 2019. This is according to a report by McKinsey …

The World Bank has downgraded Nigeria’s Gross Domestic Product GDP growth rate to 2.8% in 2023, a slight revision downward from earlier forecasts. The latest report highlights significant challenges that could hinder the country’s economic progress. Furthermore, per capita income …

The Department of State Services has said the suspended governor of the Central Bank of Nigeria, Godwin Emefiele, is now in its custody. According to reports, Emefiele was arrested in Lagos and flown to the Federal Capital Territory for questioning. …

The World Bank has retained Nigeria alongside Afghanistan, Somalia, South Sudan and Yemeh as hotspots of global food security concerns, raising a red flag on the governments’ capacity to weather the storm. It is not the first time Nigeria would …

The Asset Management Corporation of Nigeria on Thursday said the Court of Appeal, Lagos State Division, has dismissed an appeal brought before it by the Chairman of Global Fleet Group, Jimoh Ibrahim. It said Ibrahim was challenging the seizure of …

  The Federal Government recorded N930.8bn fiscal deficit in January and February 2023 according to the Central Bank of Nigeria. The CBN stated in its monthly economic report for February 2023 that, “The estimated overall fiscal deficit of the FGN …

The total value of foreign trade has declined by N2.55tn as Nigeria recorded lower exports within a year, according to findings by media. The new Foreign Trade Statistics Report by the National Bureau of Statistics showed that the total value …

  Nigeria’s total debt in seven years outweighed the revenue generated by the Federal Government by N13.26tn, according to findings by media. The findings were based on data from the Central Bank of Nigeria and the Debt Management Office. Media …

The National Bureau of Statistics has disclosed that household final consumption grew by -12.47 per cent in the fourth quarter of 2022 compared to the 7.30 per cent growth rate of Q4 2021. This disclosure was contained in the new …

The insurance sector’s growth fell by 7.25 per cent in the first quarter of 2023, the latest figures obtained from the National Bureau of Statistics have revealed. The NBS disclosed in its ‘Nigeria Gross Domestic Product Q1, 2023’ that the …

The level of domestic transactions on the Nigerian Exchange Limited has dropped by 45.30 per cent in 16 years, from N3.556tn in 2007 to N1.945tn in 2022. This was revealed in a report issued by the NGX chronicling activities on …

The Federal Government borrowed N6.07tn from the Central Bank of Nigeria through Ways and Means Advances in 2022, according to recent data from the apex bank. This pushed the Federal Government’s borrowing from the CBN from N17.46tn in December 2021 …

  The former Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said the public debts remain sustainable as the country has adequate capacity to repay its debts. While speaking at her valedictory ceremony in Abuja, Ahmed said, …

By  Babajide Okeowo After Nigeria’s Inflation rate hit a 17-year high in April, the policy-setting committee of the Central Bank of Nigeria (CBN), Wednesday raised the Monetary Policy Rate (MPR), which measures interest rate by 50 basis points to 18.50% …

The Central Bank of Nigeria has revoked the licences of 179 microfinance banks in the country, as well as four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was …

The Nigerian Exchange Limited saw mixed sentiments on the trading floor this past week, which resulted in a  gain of N15bn for investors. Trading activities opened on a positive note at the start of the week but dipped on Thursday …

The International Monetary Fund has disclosed that 98.5 per cent of eNaira wallets have been unused one year after the launch of the central bank digital currency. This disclosure was contained in a report titled, ‘Nigeria’s eNaira, One Year After.’ …