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NICA advocates credit access for students, Informal sector
Business

NICA proposes credit guarantee system for struggling businesses

By Melvin Onwubuke   The National Institute of Credit Administration has called on the federal government to establish a broad credit guarantee system to support struggling businesses across the nation. According to nairametrics, this drive is designed to bring in a new economic dimension, distinguished by enhanced productivity and swift development of cottage industries, informal […]

The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year.
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Nigerian cinemas report nearly 50% revenue increase in January

The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year. According to the National President of CEAN, Opeyemi Ajayi, Nigerian movie theatres brought in N1.2 billion in income in January 2024. This represents a 46.5% annual increase over the N819 million […]

Flow Financial launches in Africa, begins hiring in Nigeria
Economy

Flow Financial launches in Africa, begins hiring in Nigeria

Floww Financial today announced its successful debut into the African cryptocurrency sector with the commencement of its Nigeria operations. According to Nairametrics, Floww Financial is an authorized cryptocurrency exchange company with operations in Australia, the UK, and the EU. The business currently provides fiat-to-crypto and crypto-to-fiat services on well-known exchanges, such as Binance, where it […]

FX payments rose to $1.3bn in February - CBN
Banking

FX Crisis: NSA, CBN, others to target speculators

Under the leadership of the Office of the National Security Adviser, Nuhu Ribadu, and the Central Bank of Nigeria have joined forces to address the problems impacting the nation’s economic stability and fight foreign exchange speculation. Nairametrics stated that “the partnership is expected to involve coordinated actions with top law enforcement organizations like the Nigeria […]

Citibank, Stanbic, FBN emerge top foreign investment destinations
News

Citibank, Stanbic, FBN emerge top foreign investment destinations

By Melvin Onwubuke   Citibank Nigeria Limited, Stanbic IBTC Bank Plc and First Bank of Nigeria Plc have become evident as the top destinations for foreign investment in Nigeria for 2023. According to findings by nairametrics, cash inflow into the country, passes more, through this financial institutions, indicating investor’s trust in their capacity and market […]

State police bill scales second reading at House of Reps
News

State police bill scales second reading at House of Reps

The House of Representatives has successfully passed a bill on second reading that calls for the creation of state police. According to The Times, with the support of 13 House members, the legislation passed the Green Chamber with a majority vote. Many lawmakers said that the nation’s continued security concerns outweighed their concerns about state […]

Only four Nigeria states attract foreign investment in Q4 - Report
News

Only four Nigeria states attract foreign investment in Q4 – Report

By Melvin Onwubuke   The number of Nigerian states that allured foreign investors, in the fourth quarter of 2023 dropped to lowest in about 3 years. According to findings by BusinessDay, the latest capital importation published by the National Bureau of Statistics, revealed that only 4 States in Nigeria got foreign capital in fourth quarter […]

FG adds E-Gates to Nnamdi Azikiwe airport
News

FG adds E-Gates to Nnamdi Azikiwe airport

The implementation of the E-Gates facility has commenced at the Nnamdi Azikiwe International Airport in Abuja, according to an announcement by the Minister of Interior, Olubunmi Tunji-Ojo. In a post on his official X account, the minister revealed details of his inspection tour of the ongoing installation work at the international airport on Monday. In […]

Fairmoney moves to acquire digital bank Umba
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Fairmoney moves to acquire digital bank Umba

Lagos-based digital bank with headquarters in Paris, FairMoney is currently in early-stage discussions to acquire Umba, a credit-focused digital bank providing financial services in Nigeria and Kenya, TechCrunch reported. The potential $20 million all-stock deal signifies FairMoney’s interest in expanding its customer base, particularly in Kenya. However, the move also highlights the challenges faced by […]

UNESCO launches training centre for creatives in Ogun state
News

UNESCO launches training centre for creatives in Ogun state

The UNESCO Institute for African Culture and International Understanding has launched the National Entrepreneurship and Innovation Training for Young Creative Artists at the Olusegun Obasanjo Presidential Library in Abeokuta, Ogun State, as announced in a statement on Monday. Prof. Peter Okebukola, the Director of the institute, stressed the importance of providing entrepreneurial skills to emerging […]

CAC registers 330,000 small enterprises
Business

CAC registers 330,000 small enterprises

The Corporate Affairs Commission stated that it has begun the registeration of extra 330,000 small enterprises that were previously conducting business informally throughout the nation. According to This Day, this happened just a week ago when, together with Moniepoint Microfinance Bank, the commission registered two million MSMEs in a single, unprecedented sweep. Additionally, the commission […]

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