Category: Money and Stocks

‘Nigerians Spend 50.1% Of Income On Food,’ SEID’s 2025 Consumer Outlook Report Reveals Damning Data

Ganiyu Amodu

Nigeria’s economic landscape is undergoing rapid transformation, with inflation, policy shifts, and global uncertainties, significantly altering consumer behaviour across Africa’s largest country. To critically understand the factors responsible for the changes in consumer behaviour in the country, SEID, a reputable Marketing Communications Firm in Lagos, Nigeria, has launched its first-of-a-kind report titled ‘Nigerian Consumer Outlook Report 2025 (NCOR 2025)’. Platforms Africa reports that the Outlook offers insight into consumer behaviour in one of the continent’s most dynamic markets with xx that can steer international investors in the right direction and…

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Naira Depreciates N1,629/$ In Official Market

Abibat Babalola

The Naira yesterday depreciated to N1,629 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,629 per dollar from N1,600 per dollar last week Friday, indicating N29 depreciation for the naira. READ ALSO: NCDMB’s Ezeobi Authors Nigeria’s First Book on Local Content Strategic Communication MC Oluomo’s Successor At Lagos NURTW, Tafa Sego, Escapes Assassination IGP Makes U-Turn, Withdraws Invitation To Emir Sanusi Supreme Court Sacks Abure As Labour Party Chairman…

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Obama Slams Trump Over Media Crackdown, Tariffs, Others

Ganiyu Amodu

Former United States President Barack Obama has criticised some recent actions of President Donald Trump, accusing the current administration of clamping down on the media, targeting political opponents, and threatening institutions that promote diversity and free expression. Obama made the remarks during a conversation with Hamilton College President, Steven Tepper, where he expressed concern over what he described as troubling trends under Trump’s leadership. He particularly faulted the White House’s decision to revoke The Associated Press’s access to key West Wing areas after the news agency refused to adopt the…

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US Federal Reserve Chair Jerome Powell Says Inflation May Last Longer With Tariffs

Ganiyu Amodu

Federal Reserve Chair Jerome Powell on Friday appeared to back away from a “base case” view that inflation from President Trump’s new tariffs could be transitory, saying that “it is also possible that the effects could be more persistent” as the economy digests “significantly larger-than-expected” trade duties. Trump, at the same time, turned up the pressure on Powell, calling on him to lower rates. “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image,…

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EcoBank Slams Suit On Otudeko’s Son As 6.3 Billion Shares Showdown Degenerates

Gbenga Adeoti

  EcoBank Plc has asked the Federal High Court in Lagos to temporarily restrain Otudeko Obafemi Adedamola, the son of Oba Otudeko, and others, including the Corporate Affairs Commission (CAC), from selling or transferring 6,314,116,229 Barbican Capital Limited shares in FBN Holdings. This request was made in a motion accompanying the bank’s main suit, both instituted by Kunle Ogunba (SAN) against Otudeko, Barbican Capital Limited, Honeywell Flourmills of Nigeria Plc, Siloam Global Services Limited, Oyeleye Foluke, FBN Holdings Plc, CAC, and the Nigerian Stock Exchange (NGX). The bank’s lawyer alleges…

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Shamsedeen Ogunjimi, Seven Things To Know About New Accountant General

Ganiyu Amodu

President Bola Ahmed Tinubu has appointed Shamsedeen Babatunde Ogunjimi as the new Accountant General of the Federation after a rigorous selection process. Here are seven things hitherto not generally known about him. 1. Shamsedeen Babatunde Ogunjimi is 57 years old 2. He hails from Ikorodu in Lagos 3. Ogunjimi graduated from the University of Nigeria, Nsukka, in 1990 with a Bachelor of Science in Accountancy. 4. He also obtained a Master’s in Accounting and Finance from the University of Lagos. 5. He is a fellow of the Institute of Chartered…

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Naira Down To N1,510/$ In Parallel Market

Abibat Babalola

The Naira yesterday depreciated to N1,510 per dollar in the parallel market from N1,505 per dollar last weekend. But the Naira appreciated to N1,499 per dollar in the Nigerian Foreign Exchange Market (NFEM). READ ALSO: NNPC Reduces Petrol Price To ₦‎860/Litre Former UNILAG Chief Imam Prof. Murtala Bidmos Is Dead DevReporting Takes Off, Names Mojeed Alabi Team Lead, Christiana Alabi-Akande Editor Abducted Afenifere Youth Leader, Eniola Olajuni, Regains Freedom Sexual Scandal Rocks Senate, Natasha Fingers Akpabio of Harassment + VIDEO Data published by the Central Bank of Nigeria, CBN, showed…

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CBN Retains Interest Rate At 27.5%

Ganiyu Amodu

The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has unanimously decided to hold all the parameters. This was announced by the CBN Governor, Mr Olayemi Cardoso, on Thursday during a press briefing in Abuja. In this regard, that keeps the Monetary Policy Rate (MPR) at 27.50 percent, and retains the asymmetric corridor around the MPR at +500/-100 basis points. Court Grants Portable N2m Bail, Adjourns Case Till March 5 Portable Arraigned In Ogun Court Over Alleged Assault On Government Officials The MPC also retained the Cash Reserve Ratio…

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CBN Retains N100 ATM Fee For Withdrawals Below N20,000

Ganiyu Amodu

The Central Bank of Nigeria has announced that Nigerians withdrawing less than N20,000 from another bank’s Automated Teller Machine will still be charged a fee of N100 per transaction. This is according to a FAQ document published by the apex bank on its website on Thursday, which provides further information on a new CBN’s directive. The directive is part of the newly revised ATM transaction fees set to take effect from March 1, 2025, as contained in the CBN circular dated February 10, 2025. Under the revised fee structure, withdrawals…

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FCMB To Be Arraigned Over Alleged Mortgage Fraud, Forgery March 11

Aliyu Aliyu

    An Ikeja High Court in Lagos State on Tuesday fixed March 11 for the arraignment of First City Monument Bank and three others over alleged forgery and mortgage fraud. Platforms Africa reports that other defendants aside from FCMB in the alleged fraud case are Okogun Polycarp, Batik Line International Limited, and Bolaji Adebajo. Justice Ismail Ijelu adjourned the arraignment due to the absence of the defendants in court. Presidency Official Told Me to Inflate N1.3b Contract to N5b — Fela Durotoye Reps Demand Reversal Of Telecom Tariff Hike…

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