In recognition of its exceptional contributions to innovative financial solutions for Micro, Small, and Medium Enterprises (MSMEs), Fidelity Bank Plc has been awarded the 2025 Development Bank of Nigeria (DBN) Innovation Award in the Deposit Money Bank (DMB) category. This prestigious accolade celebrates Fidelity Bank’s commitment to addressing the unique challenges faced by MSMEs
The naira recorded significant depreciation against the dollar across official and parallel foreign exchange markets this week. Central Bank of Nigeria exchange data showed that the naira weakened to N 1,583.73 against the dollar on Tuesday compared to N 1,579.40 traded on Monday. This means that the naira depreciated by N4.33 against the dollar on
The Nigerian Financial Intelligence Unit has raised alarm over suspicious transactions amounting to N48 billion wired to Dubai and Hong Kong between 2021 and 2024, facilitated by Nigerian banks. NFIU disclosed this in a recently released report. The report revealed that 401 suspicious financial transactions worth N48 billion were linked to both regions between January
A popular Nigerian financial analyst and economist, David Adonri, Vice Chairman of Highcap Securities Limited, said investors at Nigerian Exchange Limited raked in N1.086 trillion in gains in a single day due to what he described as “the Tinubu boom.” His comments come as investors marked a record-breaking performance on Tuesday at the NGX. NAN
Nigerians have dumped the Nigerian National Petroleum Company Limited retail outlets over high prices of premium motor spirits. A DAILY POST correspondent who went round major NNPCL retail outlets in Abuja observed low patronage by motorists in the nation’s capital, Abuja. This was also the case for NNPCL retail outlets along Kubwa Expressway and those
Nigeria’s currency, the naira, recorded its highest depreciation against the dollar at the official foreign exchange market on Wednesday as President Bola Ahmed Tinubu marked his second anniversary. Central Bank of Nigeria exchange rate data showed that the naira weakened further to N1,590.74 on Wednesday from N1,583.73 traded on Tuesday. This means that the naira
Host communities in the Niger Delta region have threatened to ground Nigeria’s crude oil production over a prolonged dispute with Nigerian National Petroleum Company Exploration & Production Limited (NEPL) and its partners. Tuduo Christopher, chairman of KEFFES Host Communities Development Trust, made this warning in a statement made available to DAILY POST on Wednesday. He
The Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji on Wednesday urged Nigerian youths to be involved in tax matters to have a clear understanding as it was in their best interest. He spoke at a Town Hall meeting jointly organized by the Office of the Senior Special Assistant to the President on
The Nigerian National Petroleum Company Limited has disowned a financial and poverty alleviation scheme making the round on social media. NNPCL’s spokeperson, Olufemi Soneye made this clarification in a statement released on company’s X on Thursday. The clarification comes amid a purported video titled, ‘NNPCL and Government Back Bayo Ojulari’s Financial Safety Plan” making the
Economist and Chief Executive Officer of Financial Derivative, Bismark Rewane, has said that Nigeria is less than satisfactory in practical terms under the first two years of President Bola Ahmed Tinubu’s administration. Rewane disclosed this in an interview on Channels Television on Thursday. Giving his perspective on how the Nigerian economy has fared under Tinubu in
