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Cash outside banks drop to ₦4.92trn, lowest in months

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United Capital posts ₦24.8bn pre-tax profit in H1 2026

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Delta airline halts Lagos to New York flights
Aviation Business featured

Nigerians buy Delta Airline flight tickets in dollars

International carrier, Delta Airlines, has begun selling tickets to passengers in US dollars even as foreign airline funds continue to be trapped in Nigeria. It was learned that this was done to prevent the country’s trapped funds from growing further. Recall that the International Air Transport Association estimated that foreign airlines’ trapped funds in Nigeria […]

featured News

Ghana receives IMF’s $3bn bailout fund

Ghana has signed a $3billion bailout agreement with the International Monetary Fund following months of declining economic revenue. This is a follow-up visit to Accra, Ghana, by an IMF team led by the Mission Chief for Ghana, Mr. Stéphane Roudet. The visit, which lasted from December 1 to 13, 2022, included discussions with Ghanaian officials […]

Business featured

How Metaverse’ll impact businesses in 2023 – PwC

PwC, a leading professional services firm, has made six predictions about Metaverse and how it will impact businesses in 2023. The predictions, according to the firm, will help businesses position themselves without putting their organisations at risk. While the Metaverse is not yet ready for prime time, it has begun to create real business value […]

Opinion

‘Why CBN must scrap new cash withdrawal policy’

The Coalition of South East Youth Leaders has rejected the new policy by the Central Bank of Nigeria to limit cash withdrawals.   Days ago, the apex bank had, in a bid to encourage cashless transactions, pegged cash withdrawals at N20,000 per day and N100,000 for individuals and N500,000/week for businesses.   The development has […]

Aviation featured

Reps seek lower flight prices for holidays

The request by the House of Representatives to foreign airlines to reopen cheaper layers of fares for the Nigerian market while trapped funds are resolved has gone unanswered, much to the chagrin of international travellers this holiday season. Even so, an increasing number of airlines are only offering premium fares to inbound tourists. Premiums in […]

Economy

Nigeria to lose 123.4% revenue in 2023 – World Bank

The World Bank has projected a 123.4% deficit from the country’s revenue in 2023 as a result of debt servicing.   The international financial institution made this assertion via its Lead Economist for Nigeria, Alex Sienaert during a presentation titled: ‘Nigeria Public Finance Review: Fiscal Adjustment for Better and Sustainable Development Results.’ for the month […]

Stock market
featured

Nigerian Stock Exchange records 1.51% growth

The Nigerian equity market ended the week on a high note, with the All-Share Index rising by 1.51% for the week ending December 9th, 2022. This comes on the heels of a 1.26% increase the previous week. This is according to the information contained in the Nigerian Exchange Group’s weekly stock market report. The benchmark […]

News

Arab-Africa trade to boost pharmaceutical sector

  The Arab-Africa Trade Bridges Program on Friday concluded its business matching activity which was aimed at strengthening the pharmaceutical industry. The event which was hosted in Tunisia was done in partnership with the Tunisian Ministry of Economy and Planning. According to the Chief Executive Officer of ITFC and Secretary General of AATB, Eng. Hani […]

CBN fines banks N1m daily over refusal of new naira
Business featured

New naira: CBN answers customers’ FAQ

The Central Bank of Nigeria has announced that there will be no deposit limit account with banks following plans to introduce new banknotes to replace the current N200, N500 and N1,000 Notes. The apex bank has proceeded to answer some most likely asked questions from customers in a FAQ statement signed by the CBN Head […]

Buhari unveils SDG financing framework
Business

Buhari signs Risk Mgt Institute bill

The President, Major General Muhammadu Buhari (Ret’d.), has signed the Chartered Risk Management Institute of Nigeria Bill, 2022, into law.   Blueprint reported that the Act has given legal backing to the now defunct Risk Management Association of Nigeria to teach and regulate the practice of risk management in the Institute.   This is authorizing […]

News

Suspend new cash withdrawal limit, Reps order CBN

  The House of Representatives has directed the Central Bank of Nigeria, to stop the January 9, 2023, implementation of the new cash withdrawal policy. This is based on a motion of urgent public importance moved by a member of the House, Aliyu Magaji, at the plenary on Thursday. Recall that the apex bank had […]

FG owes N100bn electricity bill debt - Distributors
Opinion

Why FG must localize electricity distribution – Experts

Several energy and real estate experts in the country have called on the Federal Government to localise electricity distribution within the country to improve its supply and grow the power sector.   According to PMNews, this call was made at the closing of the 3rd Lagos Real Estate Market Place Conference and Exhibition in Lagos, […]

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