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Be patient, CBN working to strengthen Naira – Cardoso begs Nigerians

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In a recent public lecture organized by the Nigerian Economic Society, Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), appealed to Nigerians for patience as the apex bank works tirelessly to bolster the Naira. Speaking at the event titled ‘Recent Developments in a Nigerian Foreign Exchange Market: Issues, Options and Way […]

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Business

CBN Confirms Old and New Naira Notes as Legal Tender Nationwide

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In response to mounting concerns surrounding the legal status of old Naira notes, the Central Bank of Nigeria (CBN) has officially clarified that both old and new Naira banknotes remain legal tender throughout the country. This statement comes as a response to earlier deadlines set by the previous administration, which had caused widespread uncertainty among

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Business, News

Nigeria Customs Service Reports Impressive Revenue Surge, Exceeds Monthly Targets in 2023

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The Nigeria Customs Service has announced a significant achievement in revenue collection, with Acting Comptroller General Bashir Adeniyi sharing the impressive results during a recent interaction with journalists, marking his first 100 days in office. Adeniyi revealed that in the first half of 2023, the agency generated an average monthly revenue of N202 billion. Notably,

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Business

Shockwaves in Nigeria as NERC Clears 40% Surge in Meter Costs

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In a recent development, the Nigerian Electricity Regulatory Commission (NERC) has granted its approval for a significant adjustment in the unit costs associated with end-use meters, as outlined in the Meter Asset Provider and National Mass Metering Regulations. This momentous decision was conveyed through an official Notice order, jointly signed by the Chairman of NERC,

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Business

NGX Soars to Second Place in African Markets with Trillion-Naira Gains

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In the period spanning from June to August 31, the Nigerian Exchange Limited (NGX) exhibited remarkable financial prowess, accumulating substantial gains amounting to 16.388 trillion Naira. This financial achievement positions NGX as the second-best-performing exchange market across the African continent over the past three months, with the Ghana Stock Exchange taking the lead. Analyzing the

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Business, News

Fidelity Bank has been reclassified as a medium-priced stock by the NGX.

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Fidelity Bank Plc has been reclassified by the Nigerian Exchange Limited (NGX) from a small-price stock to a medium-price stock. According to Rule 15.29 of The Exchange’s 2015 Rulebook (Dealing Members’ Rules), stocks priced above N5 per share for at least four of the most recent six months of trading, or new securities listings priced

Fidelity Bank has been reclassified as a medium-priced stock by the NGX. Read Post »

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