BudgIT, a civic tech organisation has noted recent publications across various media outlets that misrepresented its findings on Sokoto State’s budget and fiscal transparency. While we appreciate the media’s role in fostering dialogue, these reports inaccurately represent our analysis, compelling us to clarify the facts and reaffirm our position. […]
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Wema Bank To Raise Additional N200bn To Complete CBN Recapitalization Requirement
Wema Bank Plc has announced that it will be completing its capital raise through a combination of a Rights issue and Special placement exercise set to go live on April 1, 2025, with the goal of raising N200bn in fresh capital. This would mark the second and final tranche […]
Collective Investment Schemes Rises to Over N3trn In 2024, says SEC
The Securities and Exchange Commission (SEC) on Wednesday disclosed that its Collective Investment Schemes increased to over N3 trillion in 2024. The Director General of the SEC, Dr. Emomotimi Agama who disclosed this during an interaction with reporters in Abuja, explained that collective investment schemes are a part of […]
Stanbic IBTC’s N148.7bn Rights Issue Launches on NGX Invest
The Nigerian Exchange’s (NGX) e-offering platform, NGX Invest, continues to revolutionize capital-raising in Nigeria with the addition of Stanbic IBTC Holdings Plc’s N148.7 billion rights issue. Presented at the Facts Behind the Rights Issue event, the Rights Issue, which has been open since January 15 and will close on February […]
Acquisition Of Another Insurer Not In Our Plan For Recapitalisation- Ogunbiyi
Mutual Benefits Assurance Plc says it doesn’t intend to acquire any insurance company for the recapitalisation exercise mandated for insurers. Dr Akin Ogunbiyi, Chairman of Mutual Benefits Assurance Plc, said this in an interview with the News men on the sideline of the insurance company’s 29th annual thanksgiving […]
Nigeria To Rebase GDP, Inflation Data By Month-End
Nigeria’s National Bureau of Statistics (NBS) has announced plans to rebase the country’s Gross Domestic Product (GDP) and inflation data by the end of January 2025. The move is designed to capture structural changes in the economy and align economic statistics with current growth and […]
Eterna Appoints Olumide Adeosun Managing Director/CEO
The Board of Directors of Eterna Plc has appointed Mr. Olumide Adeosun as the Managing Director/Chief Executive Officer of Eterna Plc, effective 3rd February 2025. This was contained in a notice to the Nigerian Exchange Limited (NGX) and the investing public. The statement signed by the Company Secretary/Legal […]
NiDCOM Lauds CBN’s Initiatives to Enhance Diaspora Contributions
The Nigerians in Diaspora Commission (NiDCOM) has lauded the Central Bank of Nigeria (CBN) for introducing two groundbreaking financial products aimed at engaging the Nigerian diaspora: the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA). In a statement released on Thursday by the Commission’s spokesperson, […]
Nigeria’s Headline Inflation Rate Increases to 34.80% in December 2024
Nigeria’s headline inflation rate rose to 34.80% in December 2024, according to the latest report from the National Bureau of Statistics (NBS). This represents a slight increase of 0.20% from the 34.60% recorded in November 2024, primarily driven by heightened demand for goods and services during the festive season. The […]
Wale Edun Urges IsDB To Prioritize Sustainable Investments In Key Sectors
Nigeria’s Minister of Finance, Wale Edun, has called on the Islamic Development Bank (IsDB) to prioritize sustainable investments and innovation in critical sectors, including energy, infrastructure, agriculture, and railway development. The appeal was made during the IsDB Governors’ Retreat in Al-Madinah, Saudi Arabia, aimed at shaping the […]