By Sodiq Adelakun The Naira, witnessed a significant boost as the dollar rate plummeted to N1,450 at the black market on Monday. This surge, marking a 2.07 percent increase, was attributed to speculators offloading hoarded foreign currency, resulting in a…
The Association of Bureau De Change Operators of Nigeria (ABCON) anticipates a further increase in benchmark rates by the Central Bank of Nigeria’s Monetary Policy Committee (MPC) to address the persistent inflation rate. Its President, Alhaji Aminu Gwadabe, made the…
Nigeria has experienced a notable surge in tax earnings from foreign firms, with figures nearly doubling within a year, signaling a significant fiscal boon for the country. This remarkable increase is attributed to the depreciation of the naira, which has…
By Sodiq Adelakun In an accelerated hearing on Wednesday, the House of Representatives made amendments to the 2023 Supplementary Appropriation Act, facilitating an extension in the implementation period for capital projects. The amendment, proposed by the Majority Leader, Rep. Usman…
Providus Bank has announced plans to host the Providus Hive Fest, scheduled to take place from March 30 to April 1, 2024, aimed at celebrating creativity, culture, and community. The event, set to unfold at the Balmoral Centre in Lagos,…
By Sodiq Adelakun The Euro has reached unprecedented heights against the Nigerian Naira, soaring to an exchange rate of N1,667.298 in the black market as of March 20, 2024. This surge underscores a remarkable 46 percent appreciation of the European…
Sterling Financial Holdings Company Limited has announced a significant 27 percent rise in its interest income for the fiscal year 2023, as revealed in its latest unaudited financial statement. The company’s interest income surged to N163.22 billion compared to N128.43…
By Sodiq Adelakun The Central Bank of Nigeria has disclosed the upcoming 294th meeting of its Monetary Policy Committee (MPC), a pivotal gathering influencing the nation’s economic strategies. This announcement was conveyed through a document published on the bank’s website…
By Sodiq Adelakun A report from the Central Bank of Nigeria (CBN) has revealed that over the course of ten years, only 6.63 percent of the total N10.39 trillion loans disbursed to various sectors were allocated to intervention programs supporting Micro,…
By Sodiq Adelakun The Central Bank of Nigeria in a circular in Saturday has clarified that its donation of 2.15 million bags of fertilizers to the Ministry of Agriculture and Food Security is not a new intervention effort, but rather…
