By Sodiq Adelakun In a positive economic development, Nigeria has witnessed a notable increase in its external reserves, with a 2.83 percent growth since the start of the year. The Central Bank of Nigeria (CBN) reported that the country’s foreign…
Shareholders of Vitafoam Nigeria PLC, have commended the company’s board and management for sustaining positive rate of return despite the inclement operating environment, which affects profit margin of many blue chip manufacturing companies in Nigeria. The leading manufacturer of mattresses,…
By Sodiq Adelakun In a recent turn of events, the Nigerian Naira has taken a steep dive in the parallel market, hitting a new low against the Great Britain Pound (GBP). As of the latest reports, the Naira has depreciated…
By Sodiq Adelakun Former President of the Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, has praised the Central Bank of Nigeria (CBN) for revoking the operational licenses of 4,173 Bureaux De Change (BDC) operators. Nzekwe expressed his…
The Central Bank of Nigeria (CBN) has successfully sold N1.053 trillion ($680 million) worth of government securities as part of its liquidity management exercise. The sale, which was oversubscribed, saw 79 percent of the total bids, equivalent to $530 million,…
The digital lending sector in Nigeria continues to flourish as an increasing number of loan app companies receive the green light from regulatory bodies. Recent data from the Federal Competition and Consumer Protection Commission (FCCPC) reveals a significant rise in…
In a recent development that has stirred economic debate, the Central Bank of Nigeria’s decision to hike the Monetary Policy Rate (MPR) by a substantial 400 basis points has been labeled as “overkill” by Prof. Uche Uwaleke, a distinguished professor…
Financial expert, Prof. Ken Ife, has highlighted the import dependence nature of the Nigerian economy as a major challenge contributing to inflation and a weak currency. Ife, who is a member of the Governing Council, Ministry of Finance Incorporated (MOFI),…
Transactions on the stock market closed negative on Tuesday for the second day, depreciating further by 1.38 percent in reaction to the outcome of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). Recall that CBN,…
Transactions on the stock market closed negative on Tuesday for the second day, depreciating further by 1.38 percent in reaction to the outcome of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). Recall that CBN,…
