BUSINESS
Nigerian Stock Market Records Significant Dip In Trading Activity
Stock market investors traded 3.214 billion shares worth N76.348 billion in 64,156 transactions on the floor of the Exchange during the week. This compares to 3.794 billion shares valued at N119.394 billion exchanged in 89,636 deals the previous week. As a result, the value of transactions traded on the exchange dropped by 56.4 percent. The market operated for four trading days during...
FG Signs Agreements With 10 Companies To Enhance National Gas Supply
The Federal Government on Thursday signed a series of investment agreements with ten companies to develop gas processing plants and other gas supply infrastructure across Nigeria. The agreements—comprising the Joint Venture and Operating Agreement, the Joint Venture Equity Agreement, and the Joint Venture Accounts Agreement—were signed in Abuja between the Midstream and Downstream Infrastructure Fund (MDIF) and ten gas infrastructure...
SEC Issues Warning On Ponzi Schemes, Urges Public Vigilance
The Securities and Exchange Commission (SEC) has reiterated its warning about the dangers of Ponzi schemes, emphasizing their destructive effects on investor confidence, financial stability, and the integrity of the Nigerian capital market. This warning formed the core message of a presentation titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality,” delivered by Dr. Sa’ad Abdulsalam, Head of the SEC’s Enforcement Department,...
CBN Maintains Monetary Policy Rate At 27.50% Amid Inflationary Pressures
The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 27.50 percent, marking its second consecutive hold in 2025. This decision was announced by the CBN Governor, Olayemi Cardoso, during a press briefing on Tuesday in Abuja, following the conclusion of the MPC’s 300th meeting. This second pause in rates comes after six consecutive...
Nigeria’s Food Imports Rise By 16% Amid Growing Food Insecurity
Amid escalating food insecurity driven by intensified conflicts and climate-related disruptions to farming across Nigeria, the country’s food imports surged by 16% in 2024, reaching $2.5 billion, up from $2.13 billion in 2023. The World Bank’s 2025 Food Security Update revealed that an additional one million Nigerians faced acute food insecurity in 2024, largely due to the ongoing conflict and...
CBN Reaffirms Stability, Safety Of Nigerian Banking Sector
The Central Bank of Nigeria (CBN) has reassured Nigerians that the country’s banking sector remains stable, resilient, and secure, despite recent reports raising concerns about a regulated financial institution. In a statement signed by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications, the apex bank addressed what it described as misleading information circulating in certain publications and on social...
House Committee Cautions CBN Against Economic Fallout Of High Interest Rates
As the Central Bank of Nigeria (CBN) prepares for its 300th Monetary Policy Committee (MPC) meeting this week, the House of Representatives Committee on National Planning and Economic Development has expressed concern over the adverse impact of sustained high interest rates on key economic sectors. Chairman of the committee, Hon. Gboyega Isiaka, issued the warning during a meeting with the...
FG, States, LGs Share N1.681 Trillion April 2025 Federation Revenue
The Federation Account Allocation Committee (FAAC) shared N1.681 trillion in revenue generated in April 2025 among the federal government, states, and local government councils. This was disclosed in a statement issued on Friday by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF), following the FAAC meeting held in Abuja. According to the statement, the...
Presidency Disputes Adesina’s Claim On Nigeria’s GDP Per Capita
The Nigerian Presidency has pushed back against recent remarks by Dr. Akinwumi Adesina, outgoing President of the African Development Bank (AfDB), regarding the country's economic performance since independence. In a recent report, Adesina was quoted as saying that Nigerians are worse off now than in 1960, citing figures that placed Nigeria’s GDP per capita at $1,847 in 1960 compared to...
Trump Proposes 100% Tariff On Foreign-Made Films To Boost U.S. Movie Industry
U.S. President Donald Trump announced on Sunday that his administration is preparing to impose a 100% tariff on all films produced outside the United States, arguing that the American movie industry is being “devastated” by productions relocating abroad. The announcement, made via Trump’s Truth Social platform, is the latest in a series of protectionist trade moves that have sparked controversy...
