Category: Business and Economy
Nigeria’s inflation rises to 34.80% in December as CPPE calls for monetary policy adjustments
Nigeria’s inflation rate surged to 34.80 percent in December 2024 from 34.60 percent in November. This is according to the latest Consumer Price Index and ... Read More
CBN charges nine banks N1.35bn for failing to dispense cash via ATMs
In a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing ... Read More
FBH shareholders plot removal of Otedola as chairman, call for AGM
The crisis in the leadership of First Bank Holdings of Nigeria worsened on Wednesday as a group of stakeholders called for the removal of its ... Read More
Reason only Lagos gov met with Tax Reform Committee – Oyedele
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has reiterated the need for nationwide consultations on the proposed tax reforms, ... Read More
Stock market opens 2025 with N155bn gain
The stock market started the year on a strong note, delivering an impressive N155 billion profit to investors on the first trading day. The positive ... Read More
Nine Nigerian banks make N4.8tn income from loan charges in nine months
Nine commercial banks in Nigeria collectively earned N4.85tn in interest income on loans and advances to customers in the first nine months of 2024, marking ... Read More
Dangote Refinery reduces petrol price
Dangote Refinery has announced another reduction in the price of Premium Motor Spirit (PMS) or petrol. Anthony Chiejina, the company’s spokesperson disclosed this in a ... Read More
Food inflation hits 40% despite FG $3.3bn agric loan
Despite securing multilateral loans amounting to $3.334bn (N5.178tn) and attracting over $4.3bn investments to boost food production, the cost of essential staple food items skyrocketed ... Read More
CBN raises interest rate to 27.5%
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised the country’s interest rate by 25 basis points to 27.50% in November ... Read More
Why Nigerians are poorer amid GDP growth – Economists
Nigerian economists and financial experts have explained why citizens have remained poorer in the past months despite the country’s Gross Domestic Product rising by 3.46 ... Read More