Rising Consumer Debt: Nigerians Borrow N290bn in Three Months Amid Economic Struggles

Nigeria Naira and other world currency

As Nigeria grapples with a challenging economic environment, the recent Economic Report for the Second Quarter of 2023 by the Central Bank of Nigeria (CBN) reveals a concerning trend—Nigerians have borrowed approximately N290 billion from banks in just three months. Consumer Credit Surge According to the report, consumer credit, encompassing personal and retail loans, surged … Read more

Airtel’s Soaring Stocks: A Week of Remarkable Gains and Positive Sentiment

In a week that left investors buzzing with excitement, Airtel’s share price witnessed an impressive surge of 27.84%, solidifying its position as one of the week’s top-performing stocks. The positive sentiment surrounding the telecom giant translated into substantial gains, with investors reaping the rewards to the tune of N1.465 trillion by the week’s close. The … Read more

Fidson Healthcare Plc Reports Robust Q3 2023 Performance: A Comprehensive Overview

In a remarkable financial stride, Fidson Healthcare Plc has announced a profit before tax of N1.18 billion in Q3 2023, showcasing a notable year-on-year growth of 8.5% compared to the corresponding quarter in 2022. Revenue Surge and Stellar Growth The group’s Q3 2023 revenue stood impressively at N14.79 billion, reflecting an exceptional 33.9% year-on-year growth … Read more

Airtel Africa Renews Service Agreements, Affirms Commitment to Transparent Transactions

Airtel Africa plc has made an official announcement regarding the renewal of existing service agreements with Bharti Airtel Limited (BAL) and its subsidiary Bharti Airtel International (Netherlands) B.V, (BAIN). This renewal signifies a strategic move by Airtel Africa to uphold and strengthen its operational framework and financial functions. The services encompass financial, operational, and corporate … Read more

Nigeria FX traders await U.S inflation data, as naira hit an all-time low

The US dollar maintained a steady position, hovering close to a two-week low following the release of minutes from the Federal Reserve’s recent meeting. The minutes revealed a cautious stance among policymakers, contributing to uncertainty in the market. Key Highlights: Market Outlook: The market remains cautious, awaiting key economic indicators to gauge the trajectory of … Read more

Lagos Rail Mass Transit (LRMT) Blue Line to Temporarily Halt Services for Upgrade


In a strategic move aimed at enhancing the efficiency of the Lagos Rail Mass Transit (LRMT) Blue Line, the Lagos State Government has announced a temporary shutdown of train services. This brief interruption is scheduled for Saturday, October 14, and Sunday, October 15, facilitating the transition from locomotive to electricity. Purpose of the Temporary Closure … Read more

Paystack Unveils Virtual Terminals to Revolutionize In-Person Payments in Nigeria

In a strategic move to further bolster its position in Nigeria’s thriving fintech landscape, Paystack has introduced virtual terminals as a groundbreaking solution for merchants. This innovative product empowers businesses to seamlessly accept payments through bank transfers, eliminating the constraints associated with traditional point-of-sale (POS) devices. Details of the Virtual Terminals Paystack’s virtual terminals emerge … Read more