A new report published by the Institute of International Finance (IIF) indicated that global debt stock reached a historic high of $307.4 trillion in the third quarter of 2023, with the debt-to-output ratio in emerging markets reaching an unprecedented level during the quarter In the latest report published on Thursday, the financial services trade group […]
The Securities and Exchange Commission (SEC) has attributed the reclassifications of Nigerian securities indices by FTSE-Russell and MSCI to the current foreign exchange (FX) liquidity challenges in the country and the effects on investor confidence in the economy. FTSE Russell, a subsidiary of London Stock Exchange Group (LSEG), recently downgraded the Nigerian equities market just […]
Apparently worried about the current backlash from universities’ administrators and analysts on the announced fiscal measure to deduct 40% from internally generated revenue (IGR) of the tertiary institutions, President Bola Tinubu on Friday shelved the implementation of the directive. Specifically, the President attributed the decision to halt the implementation to its inappropriate timing given the […]
The Central Bank of Nigeria (CBN) has projected that current inflationary pressures may continue in the near term based on the prevailing micro and macroeconomic indices of the economy The apex bank, which made this prediction in its just published second quarter ‘Economic Outlook’ report, pointed out that the removal of fuel subsidy, depreciation of […]
The Federal Government on Friday arraigned the immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over alleged N6.5 billion procurement fraud at Federal High Court, Abuja Emefiele, who is facing a six-count charge before Justice Hamza Muazu of a Federal High Court, Abuja, reportedly pleaded not guilty to the charges. The […]
As 2024 fast approaches, analysts at investment bank, Morgan Stanley, currently don’t see any sign of headwinds to affect reinsurance pricing for the renewals and into the next year, with capital supply remaining balanced in the sector. A news report from Artemis.bm, an online medium, quotes the investment bank analysts as saying that results seen […]
In what has now become a recurring issue in the nation’s banking sector, the Association of Licensed Telecom Operators of Nigeria (ALTON), the umbrella body of telecommunications companies in Nigeria, has again threatened to withdraw unstructured supplementary service data (USSD) service from deposit money banks (DMBs) following their indebtedness now estimated at about N200 billion […]
The National Insurance Commission (NAICOM) has reminded the three tiers of government in Nigeria to factor into their yearly budgets funds that will provide insurance cover public buildings in line with the existing insurance law in the country.. The Commissioner for Insurance and Chief Executive Officer of the commission, Mr. Sunday Thomas, who gave the […]
The Nigeria Data Protection Commission (NDPC) has initiated a new move aim at enforcing data users’ rights and promoting trust in Nigeria’s digital ecosystem. The move was communicated in a media advisory authored by Lead, Legal, Enforcement and Regulations Department of the commission, Barr. Babatunde Bamigboye, and sourced by our correspondent on Thursday. The commission, […]
….Rates Buhari’s Tenure As Challenging For Businesses, Nigerians An analyst at Morgan Stanley, one of the leading global investment banks, Steven Quattry, has predicted that current reforms by President Bola Tinubu to reposition Nigeria’s economy on the path of sustainable growth may lead to a strong increase in the nation’s annual income, despite the […]