In June, there was a more than 20 percent increase in the total balance of domiciliary accounts in Nigeria’s commercial and merchant banks, an analysis of data from the Central Bank of Nigeria (CBN) shows. The foreign currency deposits, a…
ETranzact International Plc reported a revenue of N8.3 billion in Q3 2023, marking an 88.2 percent year-on-year appreciation from the corresponding quarter in 2022. According to the company’s financial results for the nine months ending September 2023, the company’s…
By Sodiq Adelakun The foreign exchange market is experiencing renewed pressure as the Nigerian naira continues to weaken against the U.S. dollar. On Wednesday, the naira fell to 1,140 per dollar on the parallel market, commonly known as the black…
Wema Bank ALAT has offered 20 percent cashback on transactions done via the bank’s Point of Sale machines using the bank’s cards throughout November 2023. According to Wema Bank, the offer provides customers the chance to receive a 20 percent reimbursement…
FBN Holdings, the oldest bank in Nigeria, experienced a significant surge of 6.35 percent in its shares on Tuesday, as investors showed renewed interest in the stock. This increase contributed to a remarkable 16 percent gain for the month of…
Fitch Ratings has predicted that Nigeria’s inflation rate will decrease to 21.1 percent in 2024, compared to an average of 24.8 percent in 2023. The global rating agency stated this in its latest report, which maintained Nigeria’s long-term foreign-currency issuer…
The Nigerian Naira experienced a significant drop against the US Dollar in the first trading session of the week, marking its first major decline across the foreign exchange market segments since the Central Bank of Nigeria began clearing forex backlogs…
By Matthew Denis, Abuja In compliance with the Central Bank of Nigeria (CBN) directives, the management of Access Bank PLC one of the leading Deposit Money Banks (DMBs) in Nigeria has notified the general public that with effect from the…
Trading activities in the Nigerian equities market yesterday resumed the week on a positive note with a gain of N155 billion, driven by investors’ interest in Seplat Energy Plc and 26 stocks. The All-Share Index rose by 282.69 points, representing…
A former Governor of the Central Bank of Nigeria, Lamido Sanusi, has advised the incumbent governor of the apex bank, Olayemi Cardoso, to adopt strategic measures that will drive down the rate of inflation in the country. In a statement…
