In a slight twist of fate, the money supply in Nigeria experienced a subtle decline in August 2023. M1, also known as narrow money, slipped by 0.56 percent to N24.02 trillion, while M3, a broader measure of money supply, dipped…
By Sodiq Adelakun The International Monetary Fund (IMF) has stated that Nigeria’s total debt of over N87 trillion is still at a moderate level compared to other countries. The IMF Resident Representative in Nigeria, Ari Aisen, emphasized the need for…
Investors in the Nigerian stock market are proceeding with caution as they continue to sell off their positions due to the weakening naira. This selling pressure has led to a significant decrease of 0.34 per cent or N126 billion in…
Customer deposits in Access Holdings have grown to N12.5trillion in the first half of 2023. This was disclosed in its audited consolidated and separate financial statements for the period ended June 30, 2023. The Group reported robust gross earnings of…
The total outstanding value of admitted Commercial Papers (CPs) on FMDQ Exchange increased in August 2023 by 8.50 per cent (N80.72 billion) to reach N1.029 trillion, according to the latest financial markets monthly report. This is compared to N949.26 billion…
By Sodiq Adelakun The Naira has experienced a slight decline in value against the US dollar as the foreign exchange market reopened on Monday. According to data from Abokifx and street traders, one dollar now trades at N998, compared to…
In a move to empower and uplift adolescent girls in Nigeria, the World Bank has granted a fresh loan of $700 million. This funding will be allocated to the ongoing Adolescent Girls Initiative for Learning and Empowerment project, aiming to…
By Sodiq Adelakun The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Michael Ohiani, revealed that Nigeria is set to witness a windfall of N185.2bn in revenue for the Federal Government’s treasury account in 2023. This remarkable achievement is expected…
In a rare turn of events, the Central Bank of Nigeria (CBN) has once again postponed its highly anticipated Monetary Policy Committee (MPC) meeting. This marks the second time in history that such a delay has occurred, leaving many curious…
By Sodiq Adelakun The Nigerian naira continued its downward spiral, inching closer to the alarming 1000-per-dollar mark in street trading. The central bank’s reluctance to supply dollars to the market has only exacerbated the panic. Traders in Abuja reported the…
