The value of transactions carried out using Point of Sale (PoS) channel in Nigeria hit N3.20 trillion in 2019.
The IMF released its Global Economic Outlook where the fund announced it expects global growth to slow in 2020 to 2.9% (World Bank – 2.5%).
President Donald Trump may consider his travel ban to Nigeria, Burma, Belarus, Eritrea, Kyrgyzstan, Sudan and Tanzania. A source in the White House disclosed.
Financial experts and analysts say structural imbalances like revenue shortfall, development in the global oil market and CBN policies among others pose very bleak outlook for the economy.
The report explains why a 5-10% devaluation of the naira is plausible amidst the CBN's recent monetary policies.
Yesterday, OPEC released its monthly oil market report for December which showed that Nigeria’s oil production dipped to a new low.
Nigeria’s largest mobile telecommunication company, MTN, is leading the race for greater data market share among Telcos for the second month in a row. Operators in the industry showed no signs of relenting on their efforts to outsmart each other for market share in the industry. #MTN, #AIRTEL,#GLO
Zainab Ahmed disclosed that the new tax reforms as contained in the Finance Bill would help FG achieve its 2020 revenue estimate of N8.16 trillion.
Yesterday, President Muhammadu Buhari signed the Finance Bill into law, hoping it would support the implementation of the 2020 budget.
The prices of several food items once again witnessed a significant drop. According to the latest Household Survey, prices of tomatoes and pepper crashed significantly, while the prices of local rice, yam and other items continue to ease off.
The NCC and a consortium of infrastructural companies disclosed they would raise N265 billion for the development of broadband infrastructures.
Nigeria received $17.57 billion in direct diaspora remittances in 2019. According to data published by (@cenbank), remittances rose by 56.4% when it increased from $11.23 billion within the same period in 2018 to $17.57 billion in 2019.
Nigeria spent a whopping $1.31 billion to cover external debt obligations in 2019, as external debt service payment accumulated to $3.95 billion in the last 5 years (2015 - 2019). Data obtained from the (@cenbank) reveals
It's just one full week of business at the Nigerian Stock Exchange and stocks are already 9.51% up, one of the best performers in the world today.
At a time when technology is disrupting the global financial services industry, Nigeria has not been left out of the change.
Six insurance companies have notified NAICOM of their plans to merge as part of their efforts in meeting up with the regulator’s recapitalisation requirements.
As the Central Bank of Nigeria (CBN) continues to compel Banks to boost their credit to the real sector of the economy, analysis of data published by the apex bank revealed that the loans increased by N3.46 trillion in 2019 (between January and November, 2019).
Data obtained from the NBS show that Nigeria spent a whooping sum of N1.08 trillion to import used vehicles and motorcycles in one year.
In the Nigerian equity market, 2019 was not a very good one for many investors as the NSE All-Share Index ended the year with a 14.6% loss.