Browsing Tag
Finance
121 posts
Dangote Refinery Secures $2.5 Billion via Private Equity Placement
Dangote Petroleum Refinery & Petrochemicals has completed a $2.5 billion private equity placement, which was oversubscribed by 3.7 times, marking a major milestone in its growth and African capital market development.
Alphabet and Tesla Stock Prices Decline Amid Market Concern Over AI Costs
Google parent Alphabet and Tesla saw share prices tumble after reporting negative free cash flow driven by massive investments in artificial intelligence infrastructure.
Senate Issues Warning: Agencies Face Sanctions for Ignoring Legislative Summons
The Senate has threatened to sanction government agencies that repeatedly ignore legislative summons, citing the need for greater financial accountability and oversight.
Central Bank of Nigeria falls behind on mandatory annual financial report disclosures
The Central Bank of Nigeria has not published audited financial statements since 2022, effectively ignoring statutory requirements under the CBN Act.
Zenith Bank Secures Africa’s Best Bank Title and Retains Nigerian Top Honors
Zenith Bank Plc has maintained its status as a top financial institution by winning Africa’s Best Bank and Nigeria’s Best Bank at the 2026 Euromoney Awards for Excellence.
Private sector lending reaches N83 trillion amid rising money supply
Central Bank of Nigeria data indicates private sector credit grew to N83.3 trillion in June 2026, while broad money supply increased to N133.2 trillion amid a decline in cash held outside the banking system.
Nigeria Foreign Exchange Reserves Reach $52.73 Billion, Says CBN Governor
Central Bank Governor Olayemi Cardoso announced that Nigeria's external reserves have grown to $52.73 billion, while also reporting success in the recent banking recapitalization exercise.
Federal Government Unveils N500 Billion Credit Initiative for Young Entrepreneurs
The Federal Government has launched the YouthCred program, offering collateral-free loans up to N2 million to 500,000 young entrepreneurs based on their financial responsibility rather than traditional security requirements.
FCMB Launches Initiative to Boost Healthcare Sector Financing
First City Monument Bank is set to host a healthcare summit in July 2026 to connect industry leaders and investors, focusing on sustainable financial solutions for Nigeria's medical sector.
Investors Over-Subscribe Nigerian Government Bonds by 45 Percent
Nigeria's July bond auction saw a 45 percent oversubscription, totaling N1.74 trillion in bids against a N1.2 trillion offer, signaling robust investor demand despite lower overall allotments.