Coronation Merchant Bank Reports N13.4 Billion Profit Before Tax for 2024
Bank Achieves 283% PBT Growth as It Marks a Decade of Operations Coronation Merchant Bank has announced a profit before tax (PBT) of N13.4 billion...
Category : Finance
Nigeria finance updates, treasury bills, bonds, exchange rates etc
Nigeria Scores Major Win with $80M Solar Boost.
In a move set to brighten Nigeria’s renewable energy landscape, Konexa Energy has secured early-stage backing from the Seed Capital Assistance Facility (SCAF) for an...
ExxonMobil Injects $1.5 Billion to Power Nigeria’s Deepwater Comeback.
In a show of renewed confidence in Nigeria’s offshore oil sector, ExxonMobil today announced a $1.5 billion capital programme to revitalise its Usan deepwater field,...
UBA Recognized as Nigeria’s Leading Brand in 2024 by Brand Finance
UBA Climbs from Ninth to First Place in National Rankings United Bank for Africa Plc (UBA) has been named the strongest brand in Nigeria for...
Nigeria’s Homegrown Oil Firms Ignite a New Era of Energy Independence.
Nigeria’s oil landscape is undergoing a transformative moment as domestic companies step confidently into roles long held by international giants. Over the past year, local...
Unilever Nigeria’s Q1 Profit Jumps to ₦5.6bn on Strong Revenue Growth.
Unilever Nigeria Plc kicked off 2025 on a high note, more than doubling its first-quarter after-tax profit to ₦5.55 billion—up from ₦3.36 billion a year...
Nigeria Powers Ahead with $500 Million Fund Igniting Renewable Energy Boom
Nigeria has taken a decisive step toward expanding access to clean energy with the launch of a $500 million Distributed Renewable Energy (DRE) Nigeria Fund....
Naira exchange rates April 2025
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD)Buy/Sell Naira/Pound (NGN/GBP)Buy/Sell Naira/Euro (NGN/EUR)Buy/Sell April 30, 2025 1600 / 1610 2090 / 2120 1775 / 1800...
Manufacturers Lead Nigeria’s 2024 Dividend Payout Rankings.
In a year marked by economic headwinds and cautious corporate stewardship, Nigerian companies have struck markedly different notes in their dividend policies. While manufacturers have...
World Bank Projects 3.6% Economic Growth for Nigeria in 2025
Nigeria’s Economy Expected to Expand Steadily Through 2027 The World Bank has projected that Nigeria’s economy will grow by 3.6% in 2025, following an estimated...
Nigeria Secures $1 Billion SINOMACH Partnership to Boost Local Sugar Production.
Nigeria has inked a landmark agreement with Chinese industrial giant SINOMACH to inject $1 billion into its sugar sector, aiming to slash imports and kickstart...
Mo Abudu Earns Time Magazine’s TIME100 Honor, Elevating African Voices on the Global Stage.
Media entrepreneur Mo Abudu, founder and CEO of EbonyLife Group, has earned a spot on TIME magazine’s prestigious TIME100 list, which celebrates the year’s most...
The Central Bank of Nigeria reports a balance of payments surplus of $6.83 billion for the year 2024
The recent report from the Central Bank of Nigeria (CBN) highlights a significant turnaround in Nigeria’s balance of payments (BOP) for 2024, with a surplus...
Nigeria’s CNG Initiative Draws $491 Million Investment, Creates Over 84,000 Jobs Amidst Infrastructure Push.
Significant private investment and substantial job creation have marked the first year of Nigeria’s accelerated push towards Compressed Natural Gas (CNG) vehicles, according to the...
GTCO’s Trillion Naira Triumph Sparks a Banking Revolution in Nigeria
Last week, the Nigerian banking scene witnessed a historic breakthrough as GTCO became the first bank to record a profit of N1 trillion. This milestone...
Naira exchange rates March 2025
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD) Buy/Sell Naira/Pound (NGN/GBP) Buy/Sell Naira/Euro (NGN/EUR) Buy/Sell March 31, 2025 1555 / 1560 1995 / 2025...
Nigeria’s Inflation Rate Falls to 23.18% in February 2025 – NBS
Nigeria’s Inflation Rate Falls to 23.18% in February 2025 – NBS Nigeria’s inflation rate declined to 23.18% in February 2025, down from 24.48% in January...
Eko Atlantic City Redefines Luxury Living with Le Rêve’s Exclusive Waterfront Residences
Eko Atlantic City is redefining Lagos’ luxury real estate scene with its latest high-end development, Le Rêve — a stunning 16-storey residential tower poised to...
Nigeria’s Trade Volume Soars to N36.6 trillion in Q4 2024 Amid Surging Imports and Steady Exports.
Nigeria’s merchandise trade reached an impressive N36.6 trillion in the fourth quarter of 2024, marking a significant leap from the previous year. According to the...
Naira exchange rates February 2025
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD) Buy/Sell Naira/Pound (NGN/GBP) Buy/Sell Naira/Euro (NGN/EUR) Buy/Sell February 28, 2025 1490 / 1500 1870 / 1920...
Access Bank Introduces Mandarin-Based Online Trade Platform for Chinese Enterprises
Access Bank Introduces Mandarin-Based Online Trade Platform for Chinese Enterprises Access Bank has launched a Mandarin-language online banking platform tailored to meet the financial needs...
Deposit Money Banks in FCT Increase Withdrawal Limits to N50,000
Deposit Money Banks in FCT Increase Withdrawal Limits to N50,000 Banks operating in the Federal Capital Territory (FCT) have raised their maximum over-the-counter (OTC) withdrawal...
Naira exchange rates November 2024
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD) Buy/Sell Naira/Pound (NGN/GBP) Buy/Sell Naira/Euro (NGN/EUR) Buy/Sell November 29, 2024 1745 / 1750 2230 / 2255...
The MPC is meeting today, and another interest rate increase is expected
The Monetary Policy Committee of the Central Bank of Nigeria is projected to maintain its inflation-tightening stance at its last meeting of the year in...
Avon HMO Announces Osakpamwan Imasogie as New CEO
Avon Healthcare Limited, a subsidiary of Heirs Holdings, has appointed Osakpamwan Imasogie as its new Chief Executive Officer, effective October 1, 2024. Imasogie succeeds Adesimbo...
Naira exchange rates October 2024
Parallell (Black) Market Rates – NGN/USD/GBP/EUR Date Naira/Dollar (NGN/USD)Buy/Sell Naira/Pound (NGN/GBP)Buy/Sell Naira/Euro (NGN/EUR)Buy/Sell October 31, 2024 1745 / 1750 2250 / 2270 1840 / 1860...
BUA Foods’ revenue increases to N1.07 trillion
BUA Foods Plc reported a substantial 104% rise in revenue, reaching N1.07 trillion for the first nine months of 2024, according to its recently released...
Vitafoam reports revenue growth to N82.58 billion
Vitafoam Nigeria Plc has reported a substantial revenue increase of 56% for the third quarter of 2024, reaching N82.58 billion, up from N52.99 billion in...
Hardships are caused by the Naira Float, not subsidy removal – Expert
A financial expert, Dr. Olutayo Obadina, has attributed the current economic hardship in Nigeria to the government’s decision to float the naira, rather than the...