Economy

Naira, Cedi Show Resilience Amid Iran War, Citi Says

The Nigerian naira and Ghanaian cedi have demonstrated relative stability despite the global financial volatility triggered by the ongoing conflict…

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CBN Sets 18-Month Deadline for Banks to Implement Automated AML Systems

The Central Bank of Nigeria (CBN) has directed deposit money banks to adopt automated anti-money laundering monitoring systems within the…

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Nigeria Closely Monitoring Middle East Crisis, Says Finance Minister

The Federal Government has stated that it is closely monitoring the escalating tensions in the Middle East and assessing potential…

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Parallex Bank Meets CBN Recapitalisation Requirement, Exceeds ₦50 Billion Minimum Capital

Parallex Bank Limited has announced that it has fulfilled the recapitalisation requirement introduced by the Central Bank of Nigeria (CBN)…

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FirstBank Offers 9.75% Mortgage Under ₦1 Trillion Housing Fund

For millions of Nigerians, homeownership has remained an aspiration pushed further out of reach by rising property prices, persistent inflation…

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CBN Says 30 Nigerian Banks Have Met New Capital Requirements

The Central Bank of Nigeria (CBN) has announced that 30 commercial banks have met the revised minimum capital requirements under…

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FCMB Group Completes Capital Raise as Public Offer Generates ₦231.8 Billion

FCMB Group Plc has announced the successful completion of the capital raise programme undertaken for its banking subsidiary, First City…

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FCMB Group Offer Oversubscribed by 150.5% as Investors Apply for 24 Billion Shares

FCMB Group Plc has announced the results of its public offer for 16,000,000,000 ordinary shares of 50 kobo each at…

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Lekki Deep Sea Port Emerges Nigeria’s Busiest Port by Cargo Volume

Lekki Deep Sea Port has emerged as the busiest port in Nigeria by cargo volume, reinforcing its growing role in…

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China Lowers Growth Ambition With Sub-5% GDP Target

China has set its economic growth target at below 5 percent, the lowest official expansion goal in more than three…

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