Business News

Bamidele A.G. Amoo, a member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has attributed the decline in Nigeria’s foreign exchange (FX) reserves primarily to...

Cocoa prices experienced a pullback from their 2-1/2 week low on Tuesday, attributed to increased supplies from Nigeria and a rise in rainfall. Nigeria, the world’s fifth-largest cocoa producer, reported...

Inflation in Nigeria has been predicted to remain high in 2025 due to sporadic flooding and difficult terrain for the naira currency while inflation in key African economies will slow...

The Nigeria Inter-Bank Settlement System has said that financial institutions lost about N17.67bn to fraud in 2023. This was disclosed in its Annual Fraud Landscape (January to December 2023) which was published...

Recent dividend declarations by major Nigerian banks underscore a nuanced relationship between shareholder returns and the Central Bank of Nigeria's (CBN) capitalization directives. Despite the CBN's push for substantial capital...

The reorganisation of Zenith Bank Plc into a holding company was authorised by all of the bank's shareholders at a virtually convened Extraordinary General Meeting (EGM) on Friday, April 26,...

The statutory contribution made by nine banks to the Asset Management Corporation of Nigeria increased by 25.81 per cent to N306.06bn in 2023 from N243.28bn in the previous year. This...

Standard Chartered Bank has announced the appointment of Dalu Ajene is the Chief Executive Officer of the bank’s operations in Nigeria. Ajene takes over from Lamin Manjang, the Vice Chairman...

There was no respite for equity market investors in the past week, as they saw a N785bn reduction in their net value. This marked the fourth consecutive week of negative...

The naira has demonstrated signs of strengthening against the United States dollar, appreciating by N125 to reach N1,275/$1 over the weekend. The new rate represents a 9.8 per cent increase...