Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange (NGX), this i...
•Obaseki Edo State governor, Mr Godwin Obaseki, has criticised the policies recently introduced by the Central Bank of Nigeria (CBN), saying they cannot support the economic growth of the country. The governor said the interest rates that are raised would hinder small business owners from getting loans to expand their businesses which are detr...
•African Development Bank Nigeria is missing from the list of 11 African countries expected to experience strong growth in 2024. According to the African Development Bank Group, in its latest Macroeconomic Performance and Outlook of the continent, Africa will account for 11 of the world’s 20 fastest-growing economies in 2024, but Nigeria is no...
The International Monetary Fund, IMF has downgraded its forecast for Nigeria’s 2024 economic growth to 3.0 per cent. This represents one percentage point below the growth forecast of 3.1 percent made in October 2023. The IMF announced the downgrade in its World Economic Outlook update in January 2024 released today, reports Vanguard. The IMF a...
•Gunmen Security experts have accused commercial banks of encouraging the kidnapping epidemic in the country, as some ransoms are paid into bank accounts. The experts and analysts, who have backgrounds in military, intelligence, and policing, also stressed that abductions had become an industry enabled by the financial institutions that receiv...
The United Nations has said that Nigeria’s rising debt, increasing inflation rate and its impact on the welfare of the citizens, puts the nation at risk of declining economic growth in 2024. The UN made this known in its World Economic Situation and Prospects report for 2024 projects made available to our correspondent, reports The […]...