Tony Elumelu, Chairman of United Bank for Africa Plc (UBA), has expanded his stake in the bank with the acquisition of over 1.26 billion shares valued at ₦43.9 billion. The transaction, disclosed in a regulatory filing with the Nigerian Exchange and signed by UBA’s Group Company Secretary and Legal Counsel, […]
FINANCE
The Federal Government of Nigeria, through the Debt Management Office (DMO), has announced it will auction N300 billion worth of bonds on May 26, 2025, as part of efforts to finance the national budget and strengthen the local debt market. Details of the upcoming auction, released via an official circular […]
The naira experienced a mild depreciation in the official market on Thursday, closing at N1,585 to the U.S. dollar, slightly weaker than the previous day’s rate of N1,584/$1. This marginal dip followed two consecutive sessions of significant gains after the Central Bank of Nigeria (CBN) unveiled its latest monetary policy […]
The newly inaugurated Board of Directors of the Asset Management Corporation of Nigeria (AMCON) has been charged with the urgent task of strengthening debt recovery efforts, in line with the Federal Government’s broader economic reform agenda. Speaking at the inauguration ceremony held in Abuja on Wednesday, the Minister of Finance […]
Babagana Zulum, the governor of Borno State, has claimed that certain Nigerian military personnel and politicians are assisting Boko Haram rebels by serving as informants. In an interview with News Central’s Breakfast Central on Wednesday, Zulum revealed the information and promised that the government will bolster its intelligence apparatus and […]
First Asset Management, a top-tier Nigerian investment manager and subsidiary of First HoldCo Plc, has officially unveiled its N20 billion Series 1 Offer—part of a broader N100 billion FBN Infrastructure Fund Programme aimed at transforming Nigeria’s infrastructure landscape. The Series 1 Fund, which is structured for a 10-year tenor and […]
The Central Bank of Nigeria (CBN) has issued a strong warning to the public, debunking ongoing fraudulent activities by individuals and groups who falsely claim to offer loans, grants, or intervention funds endorsed by the bank. In a statement released on May 12, 2025, and signed by the acting Director […]
The Central Bank of Nigeria (CBN) has levied significant fines on nine Deposit Money Banks (DMBs) for failing to provide Naira notes through automated teller machines (ATMs) during the holiday season. In a statement, the apex bank underscored that this enforcement action aims to uphold its strict policy against cash […]
Nigeria’s inflation rate climbed to 34.80% in December 2024, marking a slight increase of 0.20 percentage points from November’s 34.60%, according to the latest National Bureau of Statistics (NBS) report. The rise, attributed to heightened festive season demand, highlights ongoing economic challenges, including currency depreciation, high energy costs, and supply […]
Africa’s richest man, Aliko Dangote, is working to raise billions of dollars to expand operations at his $20 billion oil refinery near Lagos. The facility, touted as the largest of its kind in the world, is expected to transform Nigeria’s reliance on imported fuel by producing refined petroleum locally. Efforts […]