finance Archives

European Central Bank headquarters in Frankfurt, Germany.

Business News

EU Aims to Select New European Central Bank Chief by December

The European Union plans to name a successor to Christine Lagarde by the end of the year.

Business News

Naira Strengthens to N1,375 per Dollar in Parallel Market

The naira gains value against the dollar in both the parallel and official markets.

Dr. Mohammed Bello Shehu speaking at an event in Abuja.

News

Nigeria to Refund Nearly N600 Billion from Natural Resources Fund, Says RMAFC

The Revenue Mobilisation Allocation and Fiscal Commission reveals the Federal Government’s illegal deductions from the Natural Resources Development Fund.

News

Developing Countries Face Record $9.4 Trillion in External Debt, Says World Bank

The World Bank reports that external debt for developing nations reached a record high in 2025, raising concerns about financial pressures.

Graph showing rising debt levels in developing countries.

Business News

Developing Countries’ Debt Reaches Record $9.4 Trillion in 2025, Says World Bank

The World Bank reports that developing countries’ external debt has surged to $9.4 trillion, driven by private financing.

Dr. Tunde Popoola speaking at a conference about AI and its economic impact on Africa.

Business News

Artificial Intelligence Could Boost Africa’s Economy by Up to $103 Billion Annually

Experts urge African nations to adopt AI responsibly to unlock its economic potential.

Women participating in the FinTribe Finance Fair discussing financial strategies.

Business News

FinTribe Hosts Event to Empower Women in Financial Literacy and Wealth Creation

The FinTribe Finance Fair gathered women and financial experts to discuss investment and financial independence.

Bank of Industry and IFC representatives signing a loan agreement.

Business News

Bank of Industry and IFC Sign $50 Million Loan to Support Small Businesses in Nigeria

The Bank of Industry teams up with the International Finance Corporation to boost financing for small businesses, especially those owned by women.

A stack of cash representing currency held outside banks.

Business News

Nigerians Hold 104% More Cash Outside Banks in Three Years, Says CBN

The Central Bank of Nigeria reports a significant rise in cash held outside banks, highlighting ongoing reliance on physical currency.

Alhaji Aliko Dangote speaking at Lotus Capital's anniversary event.

Business News

Dangote and Sanusi Encourage Lotus Capital to Boost Investments in Nigeria’s Economy

At Lotus Capital’s 20th anniversary, leaders call for more focus on real economic sectors.

Taiwo Oyedele, Nigeria's Minister of Finance

News Politics

A Look at Nigeria’s Finance Minister Taiwo Oyedele and His Approach

Taiwo Oyedele, Nigeria’s Minister of Finance, is noted for his straightforwardness.

A student using a mobile app to manage school fees payments.

News

Nigerian Education Loan Fund Launches New Payment System to Prevent Double Fees

The Nigerian Education Loan Fund introduces a token system to help students avoid paying school fees twice.

Screenshot of the StreetPay app interface

News Technology

StreetPay App Launches to Simplify Payments Without Account Numbers

The new StreetPay app allows users to make payments without needing to share account details.

Business

Dangote Refinery Reports $22.5 Billion Revenue and $4.7 Billion Profit in Q3 2026

The Dangote Petroleum Refinery sees a significant financial turnaround with strong revenue and profit growth.

Minister of Finance Taiwo Oyedele speaking at a meeting.

Business News

Nigeria Criticizes International Credit Ratings for High Borrowing Costs

The Nigerian government argues that credit ratings do not reflect economic improvements, raising borrowing costs.

Finance Minister Taiwo Oyedele speaking at a global economic meeting.

Business News

Developing Countries Face $500 Billion Higher Debt Costs Than Rich Nations

Nigeria’s finance minister highlights the financial struggles of developing nations at a global meeting.

House of Representatives building in Nigeria

News

House Committee to Question Debt Management Office and TCN Over Borrowing Issues

The House of Representatives will investigate borrowing discrepancies and debt recovery efforts by key financial agencies.

A meeting of government officials discussing performance targets for agencies.

Business News

Federal Government to Set Performance Targets for Agencies to Ease Business Operations

The government aims to improve service delivery and reduce costs for businesses by setting clear performance targets for its agencies.

Business News

Nigeria’s Credit Outlook Improved to Positive by Fitch Ratings

Fitch Ratings has upgraded Nigeria’s outlook to positive, signaling potential future upgrades.

A group of retirees celebrating their pension payments.

Business News

Federal Government Settles N758 Billion Pension Debts for Over 957,000 Beneficiaries

The Nigerian government has cleared pension debts dating back to 2007, benefiting nearly a million retirees.