By Esther Agbo The Federal Government’s fiscal deficit reached N824.79 billion in April 2024, reflecting a slight increase from the N823.91 billion recorded in March. This development was highlighted in the Central Bank of Nigeria’s (CBN) latest Monthly Economic Report,…
The Lagos State Government on Thursday unveiled plan to simplify and harmonise its revenue and tax system to stimulate development in the state. The Special Adviser to Gov. Babajide Sanwo-Olu of Lagos on Taxation and Revenue, Mr Abdul-Kabir Ogungbo, made…
Over ten thousand professionals from across Africa, including bankers, policymakers, regulators, and other key stakeholders, are expected to gather in Abuja for the 2024 Annual Conference of the Chartered Institute of Bankers of Nigeria (CIBN). At a media briefing on…
The naira on Wednesday fell to a new low of 1,610 against the dollar following dollar scarcity on the parallel market, popularly called black market. Traders in some areas of Lagos buy dollars from individuals at the rate of N1,600…
By Esther Agbo In a turn of events, the Federal Government of Nigeria successfully raised N374.751 billion through its August 2024 bond auction, as investor appetite showed a notable shift toward longer-tenor securities. The auction, managed by the Debt Management…
By Esther Agbo The Nigeria Deposit Insurance Corporation (NDIC) has implemented a streamlined depositor payment process, which has significantly expedited the reimbursement of customers from the now-defunct Heritage Bank. This was revealed by NDIC’s Managing Director, Bello Hassan, during a…
By Esther Agbo Amid new capital mandates from the Central Bank of Nigeria (CBN), Nigerian banks are ramping up their investment in technology and cybersecurity. Five major financial institutions have outlined plans to allocate a significant portion of their capital-raising…
First City Monument Bank (FCMB) Limited has welcomed two new members to its board of directors. They are Mr Ademola Adebise, a respected figure in the Nigerian financial industry, and Mrs Olufunmilayo Adedibu, a distinguished lawyer with a wealth of…
By Esther Agbo The Central Bank of Nigeria (CBN) has reported a remarkable surge in diaspora remittances, with inflows reaching an unprecedented $553 million in July 2024. This figure marks a 130 percent year-on-year increase from July 2023, showcasing the…
FirstBank, West Africa’s leading financial institution, has officially kicked off its 2024 Corporate Responsibility and Sustainability (CR&S) Week, running from August 19 to August 24. This annual event reflects the bank’s commitment to fostering positive change and promoting sustainability, aligning…
