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Business

Cash Settlements Driving Nigeria’s Inflation Crisis – Experts Demand Urgent Economic Overhaul

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Cash Settlements Driving Nigeria’s Inflation Crisis – Experts Demand Urgent Economic Overhaul

Nigeria’s reliance on cash transactions is at the heart of the nation’s soaring inflation, experts have warned, urging the federal government to implement a more structured economic framework. Charles Iyore, Principal Partner at Dion & Associates Ltd, highlighted the inefficiencies and economic distortions caused by the country’s over-dependence on cash. Speaking on Channels TV’s Sunrise … Read more

Access HoldCo Applauds NGX’s Digital Innovation After Successful N351bn Rights Issue

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Access HoldCo Applauds NGX’s Digital Innovation After Successful N351bn Rights Issue

Access Holding Company Plc’s Chairman, Aigboje Aig-Imuokhuede, has expressed strong approval of the Nigerian Exchange Group’s (NGX) digital advancements, particularly following the successful completion of its N351 billion Rights Issue. Aig-Imuokhuede emphasized how NGX’s cutting-edge E-offering platform, NGX Invest, played a crucial role in facilitating a seamless, efficient, and convenient experience for shareholders, significantly reducing … Read more

Nigerian Banks See Improved Capital Adequacy Ratio at 14% in Q3 2024, Reports CBN

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Capital adequacy ratio, Nigerian banks, CBN, Q3 2024 report, banking sector, financial stability, liquidity ratio, non-performing loans, Nigerian economy, banking regulations, government securities, treasury bills, FGN bonds, economic growth, Nigeria

The Central Bank of Nigeria (CBN) has reported a significant rise in the Capital Adequacy Ratio (CAR) of the nation’s banking sector, which increased to 14.01% in the third quarter (Q3) of 2024. This marks an improvement of 1.49 percentage points from 12.52% in the previous quarter, underscoring the resilience and stability of Nigerian banks … Read more

SEC Targets Massive Growth for Nigeria’s Commodities Exchanges, Promises Innovation and Job Creation

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SEC Targets Massive Growth for Nigeria's Commodities Exchanges, Promises Innovation and Job Creation

The Securities and Exchange Commission (SEC) is setting its sights on transforming Nigeria’s commodities exchanges into powerful engines of economic growth, job creation, and poverty reduction. In a recent meeting with stakeholders in Abuja, SEC’s Director General, Emomotimi Agama, underscored the critical role these exchanges play in driving economic prosperity, emphasizing the importance of innovation … Read more

Capital Market 2024: Resilience, Innovation, and Policy Shifts Drive Equities Surge

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"Capital Market 2024: Resilience, Innovation, and Policy Shifts Drive Equities Surge"

In 2024, the Nigerian capital market stood as a testament to remarkable resilience and adaptability, defying macroeconomic challenges and policy shifts to carve out a year of transformation. Despite the hurdles of inflation, high production costs, and a volatile economic landscape, industry analysts were quick to point to the market’s robust performance and its future … Read more

Warri Refinery Resumes Operations, Offers Nigerians Hope with Diesel and Kerosene Production

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Warri Refinery Resumes Operations, Offers Nigerians Hope with Diesel and Kerosene Production

In what many are calling a much-needed glimmer of hope for the new year, the Warri Refining and Petrochemicals Company (WRPC) in Delta State has resumed operations. Although not yet at full capacity, this marks a significant milestone in Nigeria’s ongoing efforts to revitalize its energy sector. The confirmation came from the Group Chief Executive … Read more

Nigeria Secures $1.5 Billion Loan from World Bank for Fuel Subsidy Removal and Tax Reforms

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Nigeria Secures $1.5 Billion Loan from World Bank for Fuel Subsidy Removal and Tax Reforms

Nigeria has successfully secured a $1.5 billion loan from the World Bank to support its ambitious fuel subsidy removal and tax reforms aimed at stabilizing the economy. The loan, part of the Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing initiative, is expected to play a crucial role in Nigeria’s economic transformation efforts. … Read more

Imported Food Inflation Surges to 42% Amid Delays in FG’s Duty Waiver

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Nigeria’s imported food inflation reached a staggering 42.29% in November 2024, according to the latest Consumer Price Index report from the National Bureau of Statistics. This sharp rise reflects a significant jump from the previous year when inflation was recorded at 23.74% in November 2023. The 18.55 percentage point increase highlights the growing pressure on … Read more

Qubetics Secures $7.9M with 2 Days Remaining for 10% Discount as Cardano Targets $6 and Immutable X Grows in NFTs – Must-Watch Altcoins This Month

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The crypto world is buzzing with activity, and this month, some altcoins are catching all the attention. Qubetics has already raised $7.9 million, and its presale is wrapping up with just two days left for a 10% discount. Cardano is eyeing a $6 price target, while Immutable X continues to dominate the NFT market. These … Read more

Discover Top 4 Meme Coin Presales to Buy This Week – BTFD Coin, Bittensor (TAO), Arbitrum (ARB), and Gala in Focus

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The cryptocurrency space is buzzing with excitement, and meme coins are no longer just a joke they’re quickly becoming serious investments. As the market evolves, presales are gaining massive attention, promising high returns for those smart enough to jump in early. If you’ve been tracking the crypto world recently, you’ll know which meme coins are … Read more

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