Business

 The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Thursday projected that the economy will grow by 4.1 per cent growth in 2025, as well as a record decline in inflation, with continued increase in foreign exchange inflow into the country. Cardoso gave these projections in a keynote address at the launching of the Nigeria Economic Summit Group…

The local equities market on Thursday closed on a negative note following share price depreciation in Aradel Holdings Plc and 27 others. The Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 47.93 basis points or 0.05 per cent, to close at 102,788.20 basis points. However, the overall market capitalisation value gained N1 billion to close at N63.148 trillion. On…

 The Central Bank of Nigeria (CBN) has officially approved the release of the Nigerian Foreign Exchange (FX) Code, a move aimed at fostering ethical conduct and transparency within the nation’s foreign exchange market. In a statement on the apex bank’s website, it disclosed that the Code, which will serve as a vital guideline for the banking industry, is designed to…

The Federal Government through the Debt Management Office (DMO), has disclosed plans to generate N450 billion through its January 2025 bond auction. The figure is higher than the N360 billion offered in January 2024 and the N120 billion offered last month in December of last year. This initiative aims to bridge the fiscal deficit and address the government’s financial obligations…

The Nigerian equities market on Wednesday experienced a pullback from its positive momentum earlier in the week, dropping by N186 billion on profit-taking in MTN Nigeria Communication Plc, and Aradel Holdings Plc. Consequently, the Nigerian Exchange LimitedAll-Share Index (NGX ASI) dipped by 301.86 basis points or 0.29 per cent to close at 102,836.13 basis points. Consequently, market capitalisation depreciated by…

Oando Plc on Wednesday announced that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a competitive bidding process organized by the Angolan National Agency for Petroleum, Gas, and Biofuels (ANPG). Block KON 13 is strategically located in the prolific Kwanza Onshore Basin which represents significant exploration potential…

Nigeria Labour Congress (NLC) on Wednesday rallied Nigerians to reject the 50 per cent telecommunication tariff hike approved by the federal government through the Nigerian Communications Commission (NCC). According to NLC, the 50 per cent tariff hike approval, “at a time when Nigerian workers and the masses are grappling with unprecedented economic hardship, is a clear assault on their welfare…

The Securities and Exchange Commission (SEC) on Wednesday disclosed that its Collective Investment Schemes increased to over N3 trillion in 2024. The Director General of the SEC, Dr. Emomotimi Agama who disclosed this during an interaction with reporters in Abuja, explained that collective investment schemes are a part of the market system that allows people to diversify their risk via…

The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that the Ekiti Agro-Allied Cargo International Airport is nearly ready for full commercial operations, with 99.5% of the required infrastructure in place. Speaking in Ado-Ekiti during a joint inspection of the airport with Ekiti State Governor, Biodun Oyebanji, Keyamo confirmed that all essential facilities, including aviation security, fire services,…

The National Commissioner/CEO of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, led a delegation from the Commission on a courtesy visit to the Secretary to the Government of the Federation (SGF), Senator George Akume. The visit was aimed at fostering collaboration between the NDPC and the Office of the Secretary to the Government of the Federation (OSGF) to…