The Federal Inland Revenue Service (FIRS) has defended the federal government’s borrowing framework, describing debt as a legitimate component of every national budget. FIRS Chairman Zacch Adedeji stated this on Tuesday while addressing journalists during the Meet-the-Press series organised by the Presidential Communications Team at the Presidential Villa, Abuja. He explained that federal revenue collection …
Guaranty Trust Holding Company Plc (GTCO), the parent company of Guaranty Trust Bank, has reported a 40.13 per cent decline in profit before tax (PBT) for the first six months of the year. The Group's audited financial statements for the six months ended June 30, 2025, released on Tuesday, September 23, show the pre-tax profit …
The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern that the Central Bank of Nigeria (CBN) benchmark interest rate cut will require the federal government to play a complementary role to fully unlock growth potential for the Nigerian economy. The CPPE Chief Executive Officer, Muda Yusuf, raised this in a statement on …
Nigeria's foreign exchange reserves have reached a significant milestone, hitting $43.03 billion as of September 25, 2025—the highest level in six years. This was disclosed by the central bank governor, Yemi Cardoso, at the end of the Monetary Policy Committee meeting today in Abuja. This marks a substantial recovery from the low of $37.18 billion …
The Central Bank of Nigeria (CBN) has announced a reduction in the Monetary Policy Rate (MPR) by 50 basis points, bringing the rate down to 27%. This decision was made at the conclusion of the CBN’s Monetary Policy Committee (MPC) meeting, where all 12 members of the committee were in attendance. In addition to the …
The broader African cryptocurrency market continues to show promise, with Bitcoin (BTC) trading at approximately $113,006, marking a 0.14% increase over the past 24 hours. Ethereum (ETH) is priced around $4,196, reflecting a slight 0.31% gain. Other prominent cryptocurrencies like Binance Coin (BNB), Cardano (ADA), and Solana (SOL) are also experiencing minor fluctuations. These price …
By Martin Baron Every year of my journalistic career of nearly half a century, I have known only a free and independent press in the United States. My professional start was in the 1970s. Those were years when Americans could see clearly how the press served democracy: With the publication of the Pentagon Papers, …
The Global Information Crisis Poses a Dire Threat to Economic Prosperity and Human Progress, and a Unique Opportunity. Eleven of the world’s leading economists, including two Nobel laureates, urge governments to recognize and uphold the economic value of public interest media in the age of AI Governments around the world are chasing the AI dream, …
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 …
Moniepoint Microfinance Bank Chief Executive Officer (CEO) Babatunde Olofin has stated that Africa's finance future will not be determined by depending on foreign insight but on homegrown solutions, including a progressive policy environment, sound regulatory oversight and informed advocacy through the media. Olofin stated this at the 2025 annual conference of the Finance Correspondent Association …
