The Nigerian insurance industry is set for a major overhaul as the National Assembly has proposed stringent penalties for unlicensed operators. A key provision of the Nigeria Insurance Industry Reform…
A slowdown in business activities has gripped Nigeria’s private sector, with the Stanbic Purchasing Managers’ Index (PMI) for July dipping below the crucial 50-point mark. The index, which measures the…
The Bank Directors Association of Nigeria (BDAN) has raised alarm over the recently amended 70% windfall tax, characterizing it as excessively burdensome and ill-timed, particularly in light of the ongoing…
In line with history of offering its customers fabulous personal and business enhancing packages, Nigerian foremost telecommunications services provider, Globacom, has announced the launch of an all-in-one social media and…
The Nigerian government is considering a temporary six-month suspension of the controversial ₦10 per litre sugar tax imposed on carbonated sweetened non-alcoholic beverages. This move comes as a relief to…
Nigeria’s battle against inflation intensified on Tuesday, July 23rd, 2024, as the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) announced a 50 basis point increase in the benchmark…
Nigerian commercial banks witnessed a concerning trend in the first quarter of 2024, with a staggering 288% increase in employee terminations due to fraud compared to the previous quarter, according…
The Nigerian National Petroleum Corporation (NNPC) is seeking an additional $2 billion in oil-backed loans from international creditors. According to a Reuters report and confirmation from the Group Chief Executive…
In a major boost for financial security, OPay, a leading Nigerian fintech company, has announced that its users’ deposits are now insured up to ₦5 million by the Nigeria Deposit…
Banks Facing Liquidity Squeeze as Borrowing from CBN Reaches N5.38 Trillion Nigeria’s banking sector is experiencing a significant increase in borrowing from the Central Bank of Nigeria (CBN). In the…