Research Team, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Fri, 14 Jun 2024 08:46:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Research Team, Author at Nairametrics 32 32 201037849 Big 4 maintain market dominance as audit firms earn N17.34 billion fees in 2023 https://nairametrics.com/2024/06/14/big-4-maintain-market-dominance-as-audit-firms-earn-n17-34-billion-fees-in-2023/ https://nairametrics.com/2024/06/14/big-4-maintain-market-dominance-as-audit-firms-earn-n17-34-billion-fees-in-2023/#respond Fri, 14 Jun 2024 07:25:04 +0000 https://nairametrics.com/?p=491224 The big audit firms in Nigeria, KPMG, PWC, Deloitte, and EY, typically referred to as the Big Four maintained industry dominance yet again in 2023, as 50 of the most capitalized companies on the Nigerian exchange paid a total of N17.34 billion as audit fees.

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]]> https://nairametrics.com/2024/06/14/big-4-maintain-market-dominance-as-audit-firms-earn-n17-34-billion-fees-in-2023/feed/ 0 491224 Nigerian banks pay N166.4 billion to NDIC as Deposit Insurance premium in 2023  https://nairametrics.com/2024/06/07/nigerian-banks-pay-n166-4-billion-to-ndic-as-deposit-insurance-premium-in-2023/ https://nairametrics.com/2024/06/07/nigerian-banks-pay-n166-4-billion-to-ndic-as-deposit-insurance-premium-in-2023/#respond Fri, 07 Jun 2024 05:41:50 +0000 https://nairametrics.com/?p=490790  Nine publicly listed commercial banks paid a sum of N166.4 billion as deposit insurance premium to the Nigerian Deposit Insurance Corporation (NDIC) in 2023, a 29.3% increase compared to the N128.7 billion recorded in the previous year. 

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]]> https://nairametrics.com/2024/06/07/nigerian-banks-pay-n166-4-billion-to-ndic-as-deposit-insurance-premium-in-2023/feed/ 0 490790 Banks staff experience 44.3% increase in salaries as banks incur N800 billion in 2023  https://nairametrics.com/2024/05/31/banks-staff-experience-44-3-increase-in-salaries-as-banks-incur-n800-billion-in-2023/ https://nairametrics.com/2024/05/31/banks-staff-experience-44-3-increase-in-salaries-as-banks-incur-n800-billion-in-2023/#respond Fri, 31 May 2024 07:13:57 +0000 https://nairametrics.com/?p=490319 Commercial banks spent a total of N799.8 billion on staff salaries in 2023, representing a 44.3% increase when compared to the N554.2 billion spent in the previous year.

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]]> https://nairametrics.com/2024/05/31/banks-staff-experience-44-3-increase-in-salaries-as-banks-incur-n800-billion-in-2023/feed/ 0 490319 Naira has fallen by 26.8% since CBN declared it as “best performing currency” https://nairametrics.com/2024/05/11/naira-has-fallen-by-26-8-since-cbn-declared-it-as-best-performing-currency/ https://nairametrics.com/2024/05/11/naira-has-fallen-by-26-8-since-cbn-declared-it-as-best-performing-currency/#respond Sat, 11 May 2024 09:12:22 +0000 https://nairametrics.com/?p=488605 The exchange rate between the naira and the dollar closed the week at N1,466/$1, reaching a two-month low as a stronger dollar continues to outpace global currencies. The exchange rate has now weakened by a significant 26.8% since reaching its strongest point of N1,072/$1 in April when it was declared the best performing currency by […]

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]]> https://nairametrics.com/2024/05/11/naira-has-fallen-by-26-8-since-cbn-declared-it-as-best-performing-currency/feed/ 0 488605 CBN releases Official List of Deposit Money Banks in Nigeria as of April 2024 https://nairametrics.com/2024/05/08/cbn-official-list-of-deposit-money-banks-in-nigeria-as-of-april-2024/ https://nairametrics.com/2024/05/08/cbn-official-list-of-deposit-money-banks-in-nigeria-as-of-april-2024/#comments Wed, 08 May 2024 12:47:09 +0000 https://nairametrics.com/?p=488277 The latest list released by the CBN categorizes these banks based on the scope of their banking license—international, national, and regional—reflecting their operational jurisdiction and the services they are permitted to offer.

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]]> https://nairametrics.com/2024/05/08/cbn-official-list-of-deposit-money-banks-in-nigeria-as-of-april-2024/feed/ 1 488277 Nigerian Stocks: List of Dividends announced in 2024 https://nairametrics.com/2024/05/07/nigerian-stocks-list-of-dividends-announced-in-2024/ https://nairametrics.com/2024/05/07/nigerian-stocks-list-of-dividends-announced-in-2024/#comments Tue, 07 May 2024 17:50:10 +0000 https://nairametrics.com/?p=478937 This is a list of Dividends announced so far in 2023 and their percentage yield.

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]]> https://nairametrics.com/2024/05/07/nigerian-stocks-list-of-dividends-announced-in-2024/feed/ 12 478937 BREAKING: FBNH, UBA, GTCO, Access Bank, drop out of trillion market cap club https://nairametrics.com/2024/05/03/fbnh-uba-gtco-access-bank-drop-out-of-trillion-market-cap-club/ https://nairametrics.com/2024/05/03/fbnh-uba-gtco-access-bank-drop-out-of-trillion-market-cap-club/#respond Fri, 03 May 2024 10:31:32 +0000 https://nairametrics.com/?p=487734 As of December 2023, Nigeria's largest banks had a total net asset value of N9.7 trillion but only a combined market capitalization of N4.2 trillion ($ billion), translating to a price-to-book ratio of 0.43, or 43%.

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]]> https://nairametrics.com/2024/05/03/fbnh-uba-gtco-access-bank-drop-out-of-trillion-market-cap-club/feed/ 0 487734 MTN Nigeria’s net forex losses rises to staggering N1.39 trillion https://nairametrics.com/2024/04/30/mtn-nigerias-net-forex-losses-rises-to-staggering-n1-39-trillion/ https://nairametrics.com/2024/04/30/mtn-nigerias-net-forex-losses-rises-to-staggering-n1-39-trillion/#comments Tue, 30 Apr 2024 06:21:53 +0000 https://nairametrics.com/?p=487345 MTN Nigeria reported a net foreign exchange loss of N656.3 billion in the first quarter of 2024 as a continuation of the naira's depreciation ravaged the company's balance sheet.

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]]> https://nairametrics.com/2024/04/30/mtn-nigerias-net-forex-losses-rises-to-staggering-n1-39-trillion/feed/ 1 487345 Banks declare massive dividend payouts amid capital raise https://nairametrics.com/2024/04/29/banks-declare-massive-dividend-payouts-amid-capital-raise/ https://nairametrics.com/2024/04/29/banks-declare-massive-dividend-payouts-amid-capital-raise/#respond Mon, 29 Apr 2024 08:05:59 +0000 https://nairametrics.com/?p=487158 Recent dividend announcements by major Nigerian banks have highlighted a complex interplay between shareholder returns and Central Bank of Nigeria (CBN)’s recapitalization requirements.

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]]> https://nairametrics.com/2024/04/29/banks-declare-massive-dividend-payouts-amid-capital-raise/feed/ 0 487158 Leading Nigerian companies incur a staggering N1.7 trillion in FX losses in 2023 https://nairametrics.com/2024/04/25/leading-nigerian-companies-incur-a-staggering-n1-7-trillion-in-fx-losses-in-2023/ https://nairametrics.com/2024/04/25/leading-nigerian-companies-incur-a-staggering-n1-7-trillion-in-fx-losses-in-2023/#respond Thu, 25 Apr 2024 07:00:34 +0000 https://nairametrics.com/?p=486801 No one is spared as some of Nigeria's largest companies with significant forex obligations took in record forex losses over the currency devaluations that occurred in 2023

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]]> https://nairametrics.com/2024/04/25/leading-nigerian-companies-incur-a-staggering-n1-7-trillion-in-fx-losses-in-2023/feed/ 0 486801 Data reveals extent of forex supply shortage at official window as exchange rates plunged in 2023 https://nairametrics.com/2024/04/25/new-data-reveal-extent-of-forex-supply-shortage-at-official-window-as-exchange-rates-plunged-in-2023/ https://nairametrics.com/2024/04/25/new-data-reveal-extent-of-forex-supply-shortage-at-official-window-as-exchange-rates-plunged-in-2023/#respond Thu, 25 Apr 2024 06:00:39 +0000 https://nairametrics.com/?p=486799 The latest data from the Central Bank of Nigeria (CBN) reveals the extent of the dollar supply shortage as Nigerians grapple with one of the worst currency depreciations in recent years. The data, published in the CBN’s annual bulletin, show that only $9.8 billion was supplied by the central bank through the official Investors’ & […]

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]]> https://nairametrics.com/2024/04/25/new-data-reveal-extent-of-forex-supply-shortage-at-official-window-as-exchange-rates-plunged-in-2023/feed/ 0 486799 Ethical funds drive high returns in Nigerian mutual funds in Q1 2024 https://nairametrics.com/2024/04/22/ethical-funds-drive-high-returns-in-nigerian-mutual-funds-in-q1-2024/ https://nairametrics.com/2024/04/22/ethical-funds-drive-high-returns-in-nigerian-mutual-funds-in-q1-2024/#respond Mon, 22 Apr 2024 07:31:16 +0000 https://nairametrics.com/?p=486431 Nigerian mutual funds recorded average return of 10.76% in the first quarter of 2024, largely driven by the 30.89% yield printed by ethical funds during the period.

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]]> https://nairametrics.com/2024/04/22/ethical-funds-drive-high-returns-in-nigerian-mutual-funds-in-q1-2024/feed/ 0 486431 Experts predict higher inflation rate for March 2024 https://nairametrics.com/2024/04/15/experts-predict-higher-inflation-rate-for-march-2024/ https://nairametrics.com/2024/04/15/experts-predict-higher-inflation-rate-for-march-2024/#respond Mon, 15 Apr 2024 08:02:40 +0000 https://nairametrics.com/?p=485774 The level of inflation in the country for the month of March 2024 and experts interviewed by Nairametrics have predicted higher rates compared to the previous month.

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]]> https://nairametrics.com/2024/04/15/experts-predict-higher-inflation-rate-for-march-2024/feed/ 0 485774 Dangote Cement, BUA Foods record bumper gains as equities market surges by N18.2 trillion in Q1 2024 https://nairametrics.com/2024/04/01/dangote-cement-bua-foods-record-bumper-gains-as-equities-market-surges-by-n18-2-trillion-in-q1-2024/ https://nairametrics.com/2024/04/01/dangote-cement-bua-foods-record-bumper-gains-as-equities-market-surges-by-n18-2-trillion-in-q1-2024/#respond Mon, 01 Apr 2024 08:23:22 +0000 https://nairametrics.com/?p=484538 Nigerian equities increased by a whopping N18.1 trillion in capitalization to stand at N59.12 trillion at the end of March 2024.

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]]> https://nairametrics.com/2024/04/01/dangote-cement-bua-foods-record-bumper-gains-as-equities-market-surges-by-n18-2-trillion-in-q1-2024/feed/ 0 484538 Nigeria’s debt servicing expense doubles to N7.8 trillion in 2023 https://nairametrics.com/2024/03/25/nigerias-debt-servicing-expense-doubles-to-n7-8-trillion-in-2023/ https://nairametrics.com/2024/03/25/nigerias-debt-servicing-expense-doubles-to-n7-8-trillion-in-2023/#respond Mon, 25 Mar 2024 07:13:40 +0000 https://nairametrics.com/?p=483876 Nigeria continues to grapple with dwindling revenue amidst rising fiscal expenditure, with debt servicing gulping a huge chunk of government budget.

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]]> https://nairametrics.com/2024/03/25/nigerias-debt-servicing-expense-doubles-to-n7-8-trillion-in-2023/feed/ 0 483876 Inside CBN’s N10 trillion intervention where N193 billion loans have been declared lost  https://nairametrics.com/2024/03/19/inside-cbns-n10-trillion-intervention-where-n193-billion-loans-have-been-declared-lost/ https://nairametrics.com/2024/03/19/inside-cbns-n10-trillion-intervention-where-n193-billion-loans-have-been-declared-lost/#comments Tue, 19 Mar 2024 06:10:32 +0000 https://nairametrics.com/?p=483280 The apex bank report indicates that N289 billion of the loans are performing, N67.9 billion is substandard and N418.9 billion is doubtful.

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]]> https://nairametrics.com/2024/03/19/inside-cbns-n10-trillion-intervention-where-n193-billion-loans-have-been-declared-lost/feed/ 1 483280 Nigeria’s imported food inflation jumps to 29.8% as naira depreciation triggers record high rate https://nairametrics.com/2024/03/18/nigerias-imported-food-inflation-jumps-to-29-8-as-naira-depreciation-triggers-record-high-rate/ https://nairametrics.com/2024/03/18/nigerias-imported-food-inflation-jumps-to-29-8-as-naira-depreciation-triggers-record-high-rate/#respond Mon, 18 Mar 2024 06:07:54 +0000 https://nairametrics.com/?p=483139 Imported food inflation in Nigeria rose to its highest level, reaching 29.8% in February 2024 from 26.3% recorded in the previous month, which represents a 352 basis points increase.

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]]> https://nairametrics.com/2024/03/18/nigerias-imported-food-inflation-jumps-to-29-8-as-naira-depreciation-triggers-record-high-rate/feed/ 0 483139 FX devaluation, increased production spurs 37% growth in Nigeria’s oil export in 2023  https://nairametrics.com/2024/03/11/fx-devaluation-increased-production-spurs-37-growth-in-nigerias-oil-export-in-2023/ https://nairametrics.com/2024/03/11/fx-devaluation-increased-production-spurs-37-growth-in-nigerias-oil-export-in-2023/#respond Mon, 11 Mar 2024 11:23:07 +0000 https://nairametrics.com/?p=482316 Nigeria recorded a total crude oil export revenue of N29 trillion in 2023, a 37% increase compared to N21.1 trillion recorded in the previous year.

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]]> https://nairametrics.com/2024/03/11/fx-devaluation-increased-production-spurs-37-growth-in-nigerias-oil-export-in-2023/feed/ 0 482316 These are the shareholders of newly listed Transcorp Power Plc https://nairametrics.com/2024/03/05/these-are-the-shareholders-of-newly-listed-transcorp-power-plc/ https://nairametrics.com/2024/03/05/these-are-the-shareholders-of-newly-listed-transcorp-power-plc/#respond Tue, 05 Mar 2024 08:55:25 +0000 https://nairametrics.com/?p=481732 As of December 31, 2023, a detailed analysis of the company's register of members provides an insightful glimpse into its shareholding structure, revealing a total of 7.5 billion outstanding shares.

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]]> https://nairametrics.com/2024/03/05/these-are-the-shareholders-of-newly-listed-transcorp-power-plc/feed/ 0 481732 Foreign investors still wary as Cardoso pitches for hot money inflows   https://nairametrics.com/2024/03/04/foreign-investors-still-wary-as-cardoso-pitches-for-hot-money-inflows/ https://nairametrics.com/2024/03/04/foreign-investors-still-wary-as-cardoso-pitches-for-hot-money-inflows/#respond Mon, 04 Mar 2024 05:59:47 +0000 https://nairametrics.com/?p=481570 Data from the Nigerian Exchange (NGX) reveals that foreign participation in the Nigerian equities market dropped to 8.15% in January 2024, a decline compared to 13.92% and 12.76% recorded in the previous and corresponding month of 2023. 

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]]> https://nairametrics.com/2024/03/04/foreign-investors-still-wary-as-cardoso-pitches-for-hot-money-inflows/feed/ 0 481570