Global Market News

Asian stocks, dollar hold their own to close out strong 2024"” Reuters

Asian stocks eased on Tuesday in cautious end-of-year trading that has seen investors scale back bets of deep U.S. rate cuts in 2025 and brace for the incoming Trump administration, with the dollar standing tall against most other currencies. Click here for more.

Oil rises on expanding Chinese factory activity, but set to end year lower"” Reuters

Oil prices rose in early trade on Tuesday after data showed China's manufacturing activity expanded in December, but for a second consecutive year, oil was on track to end lower due to demand concerns in top consuming countries. Click here for more.

Macroeconomic News

90% of workers will pay lower taxes after reform, says Oyedele"” Guardian

The Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, said under the expected personal income tax regime, about 90 per cent of workers in the public service and private sector will pay lower taxes. Click here for more.

W'Bank approves Nigeria's $1.5bn loan following key economic reforms"” The Sun

The World Bank has approved a $1.5 billion loan to Nigeria following the country's implementation of key economic reforms, including the removal of fuel subsidies and the introduction of new tax policies. This loan is part of a broader $2.25 billion financial support package aimed at stabilising the Nigerian economy and boosting fiscal sustainability. Click here for more.

Telcos fear shutdown, insist on tariff hike"” Punch

Nigerian telecom operators have sounded the alarm over the consequences of delaying a tariff review beyond the first quarter of 2025, warning that inaction could jeopardise the sector's growth, operational stability, and contribution to the economy. Click here for more.

Currency in circulation hits N4.8trn amidst cash squeeze"” Daily Trust

Currency in circulation has reached an all-time high of N4.8 trillion as of November 2024, recording over seven per cent increase from the previous month. Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6 trillion from the N4.2 trillion in the month of October. Click here for more.

Company News

FCMB Group Raises N147.5bn via Public Offer with 33% Oversubscription"” This Day

In a move to meet the Central Bank of Nigeria's (CBN) new capital requirement, FCMB Group Plc yesterday announced that it has successfully completed its public offer and raised about N147.5 billion from the investing public. Click here for more.

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