Naira Maintains N1500/$ Rate in Black Market Amid High Inflation
The naira has sustained its position within the N1500 per dollar range on the parallel market, despite the U.S. dollar...
Inflation Erodes N7.6 Trillion from Nigerian Consumer Spending
Nigerians are experiencing increased spending with diminished returns as inflation has wiped out approximately N7.61 trillion from consumer expenditure in...
Nigeria’s Forex Spending Drops to $1.5 Billion Monthly Post Tinubu’s FX Reforms
In a significant revelation, the Presidency has disclosed that Nigeria’s expenditure to defend the Naira plummeted to $1.5 billion per...
GTBank Initiates Legal Action Against Bank Chiefs Over N17bn Debt
In a case filed as FHC/L/CS/911/2024 at the Federal High Court, Lagos division under Justice CJ Aneke, GTBank has...
Fidelity Bank Initiates N127.1 Billion Capital Raise to Bolster Expansion Plans
Fidelity Bank Plc has announced its ambitious plan to commence a capital raise totaling N127.1 billion through a combination of...
Nigeria’s Revenue Agencies See 131% Surge in Collection Costs in Q1 2024
Nigeria's top revenue-generating agencies—the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC)—experienced...
FG Discharges Tigran Gambaryan and Nadeem Anjarwalla from FIRS Tax Evasion Case Against Binance
The Federal High Court of Nigeria has discharged Tigran Gambaryan and Nadeem Anjarwalla from the tax evasion case filed by...
Nigerian Breweries Posts N29.9 Billion Equity Gain as Stock Market Appreciates by 0.2%
Nigerian Breweries Plc (NB) emerged as the standout performer on the Nigerian Exchange (NGX) today, registering a significant 10% gain...
Jim Ovia Gains $16.8 Million from Surge in Zenith Bank Stake
Jim Ovia, Nigeria’s preeminent banker and a central figure in the nation’s financial sector, has seen a substantial increase in...
Naira Faces Increased Volatility as FX Turnover Plummets by 75%
In the wake of a significant drop in foreign exchange (FX) turnover, recent data from the FMDQ has shown that...
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