Hello Readers, Bizwatchnigeria brings you the latest business news highlights in Nigeria for the week of February 23rd – March 1st, 2025.
FG To Raise N350 Billion In February 2025 Bond Auction
The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), plans to raise N350 billion in its February 2025 bond auction as part of its strategy to finance national projects and manage public debt. This target is lower than the N450 billion raised in January 2025, reflecting an adjustment in borrowing needs.
CBN Governor Pushes For Stronger Economic Ties Between Nigeria And Saudi Arabia
The Central Bank of Nigeria (CBN) reaffirms its commitment to strengthening economic cooperation with Saudi Arabia, aiming to unlock new investment and trade opportunities.
Bismarck Rewane Endorses CBN’s $8 Billion Intervention To Stabilize The Naira, Calls Currency Undervalued
Economist and CEO of Financial Derivatives Company, Bismarck Rewane, supports the Central Bank of Nigeria’s (CBN) recent decision to inject $8 billion into the foreign exchange market to stabilize the naira. He describes the move as a necessary step to address the currency’s undervaluation and strengthen market confidence.
Outrage As MultiChoice Increases DStv Subscription By 21%
Nigerians are expressing frustration as MultiChoice Nigeria announces a 21% hike in the subscription fee for its DStv Compact package, raising the cost from N15,700 to N19,000, effective March 1, 2025.
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Nigeria, Belgium To Strengthen Economic Partnership For Food Security
Nigeria and Belgium are set to strengthen their economic ties, particularly in agriculture and food security. This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a meeting with Belgium’s Ambassador to Nigeria, Pieter Leenknegt.
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NAHCON Approves Three More Banks For Hajj Savings Scheme
The National Hajj Commission of Nigeria (NAHCON) approves three additional banks to participate in the Hajj Savings Scheme, expanding the number of financial institutions supporting the initiative to four.
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Nigerian SMEs Struggle As CBN Retains 27.5% Interest Rate
Small and Medium Enterprises (SMEs) in Nigeria are facing increasing financial pressure as the Central Bank of Nigeria (CBN) maintains the Monetary Policy Rate (MPR) at 27.5%.
NIBSS Reports Over N1 Billion Fraud Using BVNs Registered For Minors
Fraudsters are exploiting loopholes in Nigeria’s banking system, using Bank Verification Numbers (BVNs) illegally registered for minors to steal over N1 billion, according to a recent report by the Nigeria Inter-Bank Settlement System (NIBSS).
World Bank-Supported NG-CARES Disburses Grants To Over 12,000 Farmers In FCT, Begins Second Phase
The Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme, funded by the World Bank, is providing financial support to 12,423 farmers in the Federal Capital Territory (FCT) to boost agricultural productivity and economic recovery.
FG Approves 7,000 Telecom Towers To Improve Rural Connectivity
The Federal Government approves the construction of 7,000 telecom towers across rural areas in Nigeria to enhance connectivity and close the digital gap.
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Meranda Stepped Down As Speaker During Peace Meeting, Says Obasa
The former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has claimed that Mojisola Meranda, the current Speaker, stepped down from her position.
