In a notable shift for the first time in 2024, the NGX witnessed a bearish trend, closing with a 1.4% decrease as the All-Share Index settled at 82,024.38 points, down from yesterday’s 83,191.84 points. Following an impressive 11% surge over…
Introduction: In the realm of short-term investment options, Money Market Funds stand out as a favored choice among investors seeking stability and liquidity. Offering higher interest rates compared to regular savings accounts, these funds provide easy access to funds, investing…
Polaris Bank, acquired by Strategic Capital Investment Limited (SCIL) for N50 billion in 2022, has faced a tumultuous history marked by financial challenges and ownership transitions. This article provides a detailed timeline of significant events leading to the recent changes…
Zenith Bank Plc has refuted claims suggesting that its Managing Director, Ebenezer Onyeagwu, was apprehended by the Economic and Financial Crimes Commission (EFCC). In a statement released by the bank, it categorically dismissed the reports of the arrest as “entirely…
The Central Bank of Nigeria (CBN) has officially dissolved the Board and Management of three prominent banks: Union Bank, Keystone Bank, and Polaris Bank. In a press release dated January 10, 2024, the CBN highlighted that this action was taken…
Introduction: The Nigerian National Petroleum Company Limited (NNPCL) has made headlines by achieving its highest profit in 45 years, reporting an impressive N2.548 trillion for the year 2022. This milestone, highlighted in the company’s 2022 Financial Performance Report, signifies a…
The forex turnover witnessed an impressive surge of 148.95%, reaching $242.60 million, fueled by a marginal gain of the Naira against the dollar on January 10, 2024. The official market maintained its position above the N1,000/$ threshold, showcasing a 0.66%…
The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, recently revealed that the organization fell short of its revenue target for 2023, reaching 87% of the projected N3.68 trillion. Despite facing a challenging operational environment, the NCS achieved a…
The Federal Government has reaffirmed its commitment to addressing foreign exchange pressures through continuous efforts. Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, emphasized this during the inauguration of two new factories and the expansion of the Tropical…
President Bola Tinubu has initiated a substantial reduction of approximately 60% in government spending on both domestic and international official travels. Under this directive, the President, accompanied by a limited entourage of 20 persons, will undertake foreign trips. Meanwhile, the…
