Month: February 2024

Naira Sees Tiny Daily Gain as Unofficial Rate Hits N1600 The Nigerian troubled local currency, the naira, recorded an unimpressive daily gain in the official foreign exchange market. It is…

Fitch Keeps FCMB on Rating Watch Negative Again Fitch Ratings said it has again kept First City Monument Bank’s (FCMB) credit rating under rating watch negative (RWN) following the Nigerian…

NGX Sees N329bln Gain as BUA Cement, Geregu Rally The Nigerian Exchange (NGX) saw more than N329 billion daily gain on Thursday which lifted market capitalization to about N57 trillion…

Senate Approves N5.079trn Budget for Nigeria Customs Service The Senate has approved 2024 budget of N5.079 trillion for the Nigeria Customs Service (NCS) for the 2024 fiscal year. The approval…

Jumia Reduces Pretax Loss by 52% to $99m The leading pan-African e-commerce platform. Jumia, posted a 52% year-on-year decline in pretax loss to $99 million, according to its latest earnings…

FG intensifies Efforts to Formalise SMEs Operations The Federal Government is intensifying efforts to formalise activities of Small and Medium Enterprises (SMEs) to increase the country’s tax net, an official…

Nigeria’s Running Inflation Hits 29.90% Nigeria’s running inflation rate has accelerated to 29.90%, according to data from statistics office posted on Thursday. The National Bureau of Statistics (NBS) said in…

DMO Offers N2.5trn FGN Bonds for Subscription at N1,000 Per Unit The Debt Management Office has offered two Federal Government of Nigeria bonds valued at N2.5 trillion for subscription at…

President Tinubu Meets Governors on Food, Security President Bola Tinubu is meeting with State governors at the Presidential Villa, Abuja. The meeting, which is not unconnected with the food situation…

Cement: NABMON Tasks FG on Establishing Price Regulation Board The National Association of Block Moulders of Nigeria (NABMON) have urged the Federal Government to swiftly establish a Commodity Price Regulation…