The Central Bank of Nigeria (CBN) has introduced a 75 per cent cash reserve ratio (CRR) on non-Treasury Single Account (TSA) public sector deposits to improve liquidity management. The Governor of CBN, Olayemi Cardoso, revealed this during his briefing on the outcome of the Monetary Policy Committee (MPC) meeting on Tuesday, September 23. He further …
Nigeria’s gross external reserves expanded by $1.03 billion in the last 30 days, according to data from the Central Bank of Nigeria (CBN). This represents a 2.51 per cent increase to $42.03 billion as of September 19 from $41 billion as of August 19. A review of the CBN data shows that this is the …
Nigeria’s Gross Domestic Product (GDP) grew by 4.23 per cent on a year-on-year basis in real terms in the second quarter (Q2) of the year. The National Bureau of Statistics (NBS) revealed this in its second-quarter report released on Monday, September 22. The report shows the growth rate is higher than the 3.48 per cent …
A French media group, Canal+, said it has completed the acquisition of MultiChoice, a South African pay-TV operator and owner of DStv and GOtv, with the transaction now unconditional. It announced this in a joint statement on Monday, September 22. The deal, valued at 125 rand per share, secured a 48.2 per cent stake in …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) Governor, Dr Olayemi Cardoso, to balance price stability with growth, raising concerns over the cash reserve ratio (CRR) and monetary policy rate (MPR) environment. CPPE made the call in a statement on Sunday, September 21, by its …
The possibility that the Central Bank of Nigeria (CBN) will cut the benchmark interest rate seems tempting than maintaining the status quo when its committee meet next week. Its two-day bi-monthly Monetary Policy Committee (MPC) meeting has been scheduled to be held on Monday, September 22 and Tuesday 23. CBN has held the rate unchanged …
The Nigerian stock market traded northward, gaining N822.25 billion in the just-concluded week's trading, despite investors being more cautious of major stocks, including bank shares. The resilience pushed the All-Share Index (ASI) to advance by 0.92 per cent to close at 141,845.35 points. Overall market capitalisation reflected the uptrend, rising by 0.92 per cent to …
Paradigm Initiative (PIN), a digital rights advocacy, has expressed concern about the consistent leak of Nigerians' data online, urging the government to look into the matter. The non-governmental organisation raised the issue in its latest report, highlighting the state of digital rights and inclusion in the country. According to a statement on Friday, September 19, …
United Bank for Africa (UBA) Plc has reported a growth of 6.06 per cent profit after tax to N335.53 billion for the first half of the year, relative to N316.36 billion in the same period of 2024. The bank’s financial performance was reported in its half-year financial statements released on Thursday, September 18. The financial …
The Lagos State Police Command said it has arrested a 55-year-old Samsideen Oladiti, popularly known as ‘Shamelon’, in connection with cases of murder and assault at Lagos Island. The command made this known in a statement on its X handle on Friday, September 19, signed by the State Deputy Police Public Relations Officer, Babaseyi Oluseyi. …
