IFC Set to Onboard BoI, Others for Long-term, Low Interest Financing The International Finance Corporation (IFC) is set to onboard the Bank of Industry (BoI) and some Deposit Money Banks (DMBs) and corporates to enable them access long term, low interest funding to support Nigeria’s...

Ahead Tenure Expiration, LivingTrust Mortgage MD Resigns Mr. Adekunle Adewole has resigned as the Managing Director of LivingTrust Mortgage Bank. His resignation was contained in a corporate notice filed with the Nigerian Exchange Limited stating that he voluntarily resigned his position, ahead of the expiration of...

Dollar Supply Rises by 180% in FX Market as Banks Sell $440m Dollar supply in the official foreign exchange market rose by 180.59 percent to $440.13m on Friday. This is as the naira closed the week at N1435.53/$ on Friday after what was a turbulent week. According...

CBN Reacts to Alleged Conversion of $30bn Domiciliary Deposits The Central Bank of Nigeria (CBN) has reacted to the alleged plan by the Federal Government to convert $30bn domiciliary deposits to Naira. The apex bank described the reports published by news outlets (not Economic Confidential) as...

FCT Businesses Record 33% Drop In Revenues Due To Insecurity According to a report by the research organization SB Morgen (SBM) Intelligence, businesses in the Federal Capital Territory (FCT) recorded a 33 percent decline in their revenues between January 2023 and January 2024. The report by...

FG, Asian Group Strike Partnership to Digitise Nigeria's Transport System The Ministry of Transportation has struck a deal with the Asia Arab Investment LLC to propel Nigeria's transportation sector into the digital age. The collaboration aims to revolutionise the country's transportation operations by investing in cutting-edge...