FirstHoldCo Plc said it has completed a ₦45 billion private placement to strengthen FirstBank’s capital base and support its growth plans. It announced this in a statement seen by Pinnacle Daily on Thursday. According to the parent company of First Bank of Nigeria Limited (FirstBank), it had secured all approvals from the Central Bank of …
The federal government has dismissed reports that it plans to introduce new taxes on telecommunications services and petroleum products. It dismissed the claim in a statement on Tuesday by Maryann Duke, Senior Special Assistant on Communications and Press Affairs to the Minister of Finance and Coordinating Minister of the Economy, describing it as inaccurate and …
The Alliance for Economic Research and Ethics has faulted the International Monetary Fund’s warning that stablecoins threaten Nigeria’s monetary sovereignty. The think tank group argued instead that the growing use of digital dollar-backed assets reflects deep economic problems within the country. In a policy brief released on Tuesday, June 16, by its chairman, Dele Oye, …
The International Monetary Fund (IMF) has warned that the rapid rise of stablecoins in Nigeria could weaken the country’s control over its monetary system. It highlighted this concern in a report on Tuesday following the release of its latest Article IV report on Nigeria, detailed in Annex VII. According to the Brettonwood financial institution, more …
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has called on the government to focus on tackling the structural factors driving inflation in Nigeria rather than relying solely on monetary policy measures. He made the call on Monday in a policy brief on the country's inflation …
The Central Bank of Nigeria (CBN) has directed banks and payment companies to keep all payment transaction data generated in Nigeria within the country from January 1, 2027. The move is part of new measures introduced by the apex bank to make the payments industry more transparent, competitive and secure. In a circular issued on …
The Alliance for Economic Research and Ethics has called on the federal government to reject the International Monetary Fund's (IMF) recommendation for new taxes on fuel, telecommunications services, and consumption. In a policy statement released on June 14 by its chairman, Dele Oye, the think tank group warned that such measures would worsen poverty, raise …
Nigeria’s headline inflation rate rose to 15.93 per cent in May, from 15.69 per cent in April, marking the first increase in two months. The National Bureau of Statistics (NBS) revealed the figure in its monthly Consumer Price Index (CPI) data released on Monday, June 15. The latest figure signals persistent price pressures across the …
The African Democratic Congress (ADC) has named former Rivers State governor and ex-Minister of Transportation, Rotimi Amaechi, as the running mate to its presidential candidate, Atiku Abubakar, for the 2027 general election. The announcement was contained in a statement issued on Monday by the party’s National Publicity Secretary, Bolaji Abdullahi. According to the party, the …
The planned listing of Dangote Petroleum Refinery on the Nigerian Exchange Limited (NGX) has been touted as one of the most significant developments in the history of Nigeria's capital market. The refinery, valued at between $39 billion and $50 billion by various estimates, is expected to add tens of trillions of naira to the market …
