Nigeria Raises N380.77bn in May Bond Auction The Nigerian government has raised N380.769 billion in a highly subscribed bond auction conducted on May 13, 2024. However, the amount raised is 39% less than what was raised in the April FGN bond auction. The aggregate subscription across all...

FG Unveils Mining Decision Support System to Unlock Economic Opportunities The Federal Government has unveiled the Nigeria Mineral Resource Decision Support System (NMDSS) to unlock economic opportunities in the mining sector. This innovative platform aims to empower stakeholders, attract investment, and drive sustainable development. Dr Dele...

NUPRC Begins Bidding Round for 12 Oil Blocks The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the bidding process for 12 oil blocks recently listed for sale. It also signals the start of the 2024 Nigeria Petroleum Licensing Round and the resumption...

Nigeria Records $282m Diaspora remittances in Q1 2024 – CBN Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024. This is according to data obtained from the website of the Central Bank of Nigeria (CBN) on May...

External Reserve Increases Marginally, Naira Depreciates Further Against Dollar to 1,515/$ The Naira decline persisted on Monday, with further depreciation in the parallel market to 1,515 to a dollar. This represents a 2.97 percent (N45/$1) depreciation when compared to the exchange rate of N1,470 on Friday. The...

FCMB Group Profit Increases by 192% in Q1 FCMB Group’s profit before tax jumped by 192.6 per cent to N31.3bn in the first quarter of 2024. According to the financial results of FCMB for Q1, filed with the Nigerian Exchange Limited, all of the group’s business...