The Debt Management Office (DMO) has listed two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. According to a statement by the DMO, the first offer is a two-year FGN savings bond due on April…
The naira, Nigeria’s currency, on Wednesday, strengthened to N1,250 to a dollar, gaining 0.8 percent (N10) over N1,260 closed on Tuesday at the parallel market, popularly called the black market. Compared to the level on February 20, 2024, naira has…
The federal government says it has plans to start issuing domestic foreign currency-denominated bonds from the second quarter (Q2) of 2024. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this on Wednesday during a meeting with…
In a remarkable milestone for the Bitcoin mining industry, businesses in this sector generated a staggering $2 billion in monthly revenue from block rewards and transaction fees in March. This achievement eclipses the previous record of $1.74 billion set in…
Moniepoint Microfinance Bank, renowned as Nigeria’s leading financial institution catering to small and medium-sized businesses, along with their customers and employees, has introduced its latest innovation: a new Unstructured Supplementary Service Data (USSD) banking service. Accessible via the account control…
Following the Easter holiday break, the foreign exchange (FX) market reopened on Tuesday with a notable surge in the value of the Naira against the US dollar. Bureau De Change (BDC) operators reported buying the dollar at N1,220 and selling…
The naira is poised to maintain its upward trajectory against the US dollar, propelled by the recent decision of the Central Bank of Nigeria (CBN) to increase interest rates. However, the banking sector may resist a new regulation that excludes…
By Sodiq Adelakun A race for funding has commen-ced among commercial and merchant banks as the Central Bank of Nigeria (CBN) mandates a capitalisation surge, leaving twelve banks grappling with the challenge of utilising approximately N4.8 trillion in retained earnings…
The African Export-Import Bank (Afreximbank) has partnered Sterling Bank to introduce an innovative supply chain finance product ‘Payables Finance,’ in Nigeria. This is contained in a statement issued by Manager, Communications and Events, Afreximbank, Vincent Musumba, on Friday. The statement said…
A substantial number of Nigerians are struggling to meet repayment obligations for loans issued under the Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank’s targeted credit facility (TCF), a recent disclosure revealed. Launched in April 2020 to mitigate the…
