First City Monument Bank Ltd. (FCMB) has joined forces with the International Finance Corporation (IFC) to launch the transformative Goldman Sachs 10,000 Women program aimed at enhancing the entrepreneurial spirit. The Goldman Sachs 10,000 Women initiative is a worldwide movement designed to stimulate economic advancement by equipping entrepreneurs across the globe with hands-on education, engaging…
Nonye Ayeni, the Executive Director and Chief Executive Officer of the Nigeria Export Promotion Council (NEPC), revealed that the non-oil commodities shipped out during the initial half of 2025 were valued at $3.225 billion, reflecting a remarkable increase of 19.59 percent compared to the $2.696 billion noted for the corresponding half of 2024. Ayeni elaborated…
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has underlined the crucial importance of collaboration between the bank and the Nigeria Deposit Insurance Corporation (NDIC) to alleviate risks in the financial domain and bolster depositor trust. Cardoso expressed that the CBN is counting on NDIC’s support to proactively address potential disturbances…
The Naira’s Struggle Against the Dollar: What It Means for Nigeria’s Economy It’s no surprise that this week has seen the Naira stumble once again against the ever-powerful dollar in the official foreign exchange market. On Wednesday, we watched as the Naira slipped to a troubling N1,534.44 for every dollar, marking a notable drop…
Olugbenga “GB” Agboola, the Founder and CEO of Flutterwave, stated that the achievement of effective and interoperable cross-border payments is vital for unlocking new opportunities for economic advancement in Africa. This assertion was made during an interview conducted by Kristen Scholer of the New York Stock Exchange at the recent Money20/20 Europe, which brings together…
The Centre for the Promotion of Private Enterprise has expressed that Nigeria’s recently revised Gross Domestic Product (GDP) signifies a pivotal landmark in the nation’s economic stewardship. Muda Yusuf, the Chief Executive Officer of CPPE, shared this insight in a statement issued on Sunday. This announcement follows the National Bureau of Statistics’ report from last…
A total of thirty-nine companies listed on Nigeria’s stock exchange have energized the market, contributing to a considerable increase of N863 billion on Wednesday. The Nigerian Exchange Limited (NGX) saw its market capitalization rise by 0.99 percent on the same day, closing at N88.054 trillion, up from N87.191 trillion the previous day. Additionally, the All-Share…
Transcorp Power Plc has triumphantly announced a substantial 23.3 percent increase in its profit before tax (PBT), reaching an impressive N77.6 billion in the first half of 2025 (H1’25), up from N62.9 billion during the corresponding timeframe in 2024 (H1’24). This noteworthy disclosure was made in its unaudited financial statements released yesterday. The company attributed…
The Nigeria Inter-Bank Settlement System (NIBSS) has proclaimed that the nation’s cashless transactions leaped to an astounding N295 trillion in the initial quarter of 2025, up from a mere N237.11 trillion during the same quarter of 2024. This remarkable growth follows an NIBSS report that unveiled a surge in the number of active bank accounts…
In a significant move, Aliko Dangote, the founder and majority shareholder of Dangote Cement, has announced his retirement from the position of Chairman of the Board. This decision marks a pivotal moment not just for Dangote Cement but for the wider business landscape, as Dangote has been a prominent figure in the industry. Anthony Chiejina,…
