Guaranty Trust Holding Company GTCO Plc, has recorded 184.5% increase in its Profit Before Tax, PBT to N609.3 billion in the financial year ended December 2023 from N214.2 billion in   2022. The disclosed this in its financial statement for   the year 2023 released yesterday. The result showed that the Group’s loan book (net) increased by 31.5%… Read more

Ghana’s inflation jumps from 23.2% to 25.8% in March (ghanaweb.com) Read more

Nigeria recovers $24 million amid ongoing investigation into suspended poverty minister (ghanaweb.com) Read more

The World Bank, yesterday, said that Nigeria’s inflation rate will remain high at 24.8 percent year-on-year, YoY, in 2024. The World Bank’s projection, however, is lower than February 2024 inflation, which stood at 31.7 percent.  The World Bank also reaffirmed its projection of 3.3 percent economic growth for the country in 2024 and reduced its projection for 2025… Read more

THE federal government has concluded arrangements to receive $1.05 billion syndicated loan backed by oil towards the end of May 2024. The loan is part of the $3.3 billion “pre-export finance facility” facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by the African Export-Import Bank (Afreximbank) in January 2024. The government has pledged 164.25… Read more

Nigeria’s ex-central bank governor pleads not guilty to 26 new charges (ghanaweb.com) Read more

Nigeria central bank offers dollars at 1,101 Naira to FX bureaux (ghanaweb.com) Read more

The Central Bank of Nigeria, CBN, has slashed the exchange rate in the Bureaux De Change, BDC, segment of the forex market by 12 per cent or N152.23 to N1,117.5 per dollar even as it commenced another round of dollar sale to 1,588 eligible BDCs. The CBN announced the new rate in a circular on… Read more

The Nigerian textile industry has continued to struggle as importation of textile products into the country increased by 106.7 percent over a period of four years from N182.5 billion in 2020 to N377.1 billion in 2023, despite several intervention programmes to boost the sector over the years. Available data from the National Bureau of Statistics (NBS)… Read more

The founder and Chief Consultant at B. Adedipe Associates Ltd. Dr. Abiodun Adedipe, has said that Nigeria is poised to attract more manufacturing companies from across the globe if the Naira becomes stable.  He stated this at the weekend at a webinar organized by Nairametrics which focused on the policies of the Central Bank of Nigeria… Read more