After a period of significant volatility and uncertainty, the Nigerian Naira is showing promising signs of resurgence, gaining momentum against major international currencies. This positive shift is largely attributed to the audacious and consistent reforms implemented by the Central Bank of Nigeria (CBN), which have begun to attract much-needed foreign[Read More…]
Business
$4m World Bank Loan Lost: Audit Failures in Customs and FIRS Cited
By Paul Onehi The Federal Government faces losing $4 million in World Bank funding due to non-compliance with auditing standards related to revenue reforms at the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NCS). The $4 million at risk is part of a larger $103 million Fiscal Governance[Read More…]
Tinubu’s Reforms: Hope or Hardship for Nigerian Businesses?
President Bola Ahmed Tinubu’s economic reforms, launched with bold pronouncements upon his inauguration, have undeniably shaken the foundations of Nigeria’s business landscape. The immediate removal of fuel subsidies and the unification of exchange rates were presented as necessary surgical incisions to correct decades of economic distortions. Yet, as we approach[Read More…]
At the 13th Annual General Meeting (AGM) of FirstHoldCo Plc, shareholders were not only treated to an impressive financial report but also to a bold assurance from Chairman Femi Otedola: “A better final dividend—above 60 kobo—is coming.” This statement, delivered with conviction, underscored the confidence of a man who has[Read More…]
Naira’s New Dawn: Navigating the Path to FX Stability
For what feels like an eternity, the Nigerian Naira has been synonymous with volatility, its value a constant source of anxiety for businesses and households alike. But in recent weeks, a discernible shift has taken place. A palpable sense of calm, however fragile, has begun to settle over the foreign[Read More…]
Post-Subsidy Gains: Investors Eyeing a Reformed Economy
Nigeria’s bold economic reforms—removal of fuel subsidies and unification of the exchange rate—have ignited investor optimism, signaling a transformative shift towards a more resilient and diversified economy. The unification of Nigeria’s exchange rate, eliminating the dual-window system, has enhanced transparency and liquidity in the foreign exchange market. This move has[Read More…]
Naira Gains Ground: Is Stability on the Horizon?
For a nation long accustomed to the naira’s volatile dance against major global currencies, recent trends offer a glimmer of hope. The Nigerian naira has, in recent months, shown signs of strengthening and relative stability, sparking cautious optimism about the future of the nation’s currency and its broader economic implications.[Read More…]
Reserves Rebound: $364 Million Boosts Nigeria’s Forex Position – A Breath of Fresh Air for the Economy
In a welcome development for the Nigerian economy, the nation’s foreign exchange reserves have experienced a significant upswing, bolstered by a substantial $364 million increase. This positive movement, revealed in the latest figures released by the Central Bank of Nigeria (CBN), offers a potential respite from recent economic headwinds and[Read More…]
Bull Run Continues: NGX Investors Reap Billions Amidst Sectoral Gains
The Nigerian Exchange Limited (NGX) continues its impressive bullish streak, delivering substantial gains to investors across various sectors. In a market buoyed by a confluence of factors, billions of naira have flowed into portfolios as both domestic and international players respond positively to recent economic indicators and corporate performances. While[Read More…]
Nigeria’s Financial Pulse: Inside the Money Market Moves of May 2025
By Ijeoma Theresa Anyanwu Nigeria’s money market is buzzing with fresh energy this May, reflecting the country’s evolving economic landscape. As the Central Bank of Nigeria (CBN) and financial institutions navigate tight liquidity, investors and observers alike are paying closer attention to short-term instruments that fuel the economy behind the[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]