Washington, Nov. 4, 2025 – Federal Reserve Governor Lisa Cook, facing pressure to resign from U.S. President Donald Trump, stated that a December benchmark interest rate cut has not been finalized. This came just three days after Steven Miran, a close aide to Trump, publicly argued for an immediate large-scale rate reduction. Cook emphasized during a speech at the Brookings Institution think tank in Washington, D.C., on the 3rd (local time), “Policy does not follow a predetermined path.” While Wall Street widely anticipates a rate cut at the next …
Sterling HoldCo builds on upward earnings trajectory with 127% profit growth
Lagos, Nov. 3, 2025 – Sterling Financial Holdings Company Plc has announced a 127% year-on-year growth in profit after tax to ₦62.3 billion in its unaudited financial results for the nine-month-period ended September 30, 2025. The bank described the performance as testament to the Group’s robust earnings capacity, operational efficiency, and disciplined execution. The Group’s gross earnings rose by 44.1% to ₦341.7 billion (September 2024: ₦237.2 billion), driven by solid performances in both interest and non-interest income lines. Interest income grew by 38.7% to ₦262.4 billion, supported by an expanded earning …
Quartus Economics advises CBN to issue N10,000, N20,000 notes
Lagos, Oct. 30, 2025 – Quartus Economics, an economic review report, has advised the Central Bank of Nigeria (CBN) to issue higher denomination naira notes of N10,000 and N20,000 to make the Nigerian currency portable. The report, titled “Is Africa’s Eagle Stuck or Soaring Back to Life?”, advised that the higher denomination notes would help to reduce the cost of cash transactions. It said the continued depreciation of the Nigerian currency had reduce its purchasing power, hence the high cost of cash transactions. “To make the naira portable again, …
Fidelity Bank’s GAIM 6 Promo Extension: A timely boost for financial inclusion, empowerment
Lagos, Oct. 30, 2025 – As Nigeria looks to opening up the economy and empowering its citizens, Fidelity Bank Plc has taken a bold step to deepen financial inclusion and reward customer loyalty by extending its flagship savings campaign, the Get Alert in Millions (GAIM) Season 6 promo. The extension adds three more months to the campaign and raises the total prize pool from ₦159 million to a record ₦189 million. This move, announced in September 2025, comes at a critical time when the country’s economic landscape demands innovative …
Federal Reserve cuts interest rates amid government shutdown
Washington, Oct. 30, 2025 – The Federal Reserve made a significant decision on Wednesday, cutting interest rates by a quarter of a percent despite the ongoing government shutdown. This marks the second rate cut of the year, bringing the key interest rate to a three-year low. Federal Reserve Chair Jerome Powell addressed the decision, highlighting factors influencing the cut. “A good part of the slowing likely reflects a decline in the growth of the labor force due to lower immigration and labor force participation, though labor demand has clearly …
NASS approves additional $2.347bn external loans to FG
Abuja, Oct. 30, 2025 – The National Assembly has approved additional $2.347 billion external loan to the federal government. The loan was approved separately by the two chambers on Wednesday following the request from President Bola Tinubu to secure the loans to part-finance 2025 budget and refinance maturing Eurobond. The approval was also granted for the issuance of a $500m debut Sovereign Sukuk at the international capital market The loan approval in the House of Representatives was sequel to the adoption of a report of the House Committee on …
Fidelity Bank hails Air Peace on maiden Heathrow flight
Lagos, Oct. 29, 2025 -A leading financial institution, Fidelity Bank Plc, has commended Air Peace for its historic inaugural direct flight from Abuja to London Heathrow on Sunday, Oct.26, 2026. The bank described the milestone as a bold testament to Nigerian excellence in global aviation. Nneka Onyeali-Ikpe, the bank’s Managing Director, in a statement issued following the launch, praised Air Peace for its resilience and vision. The chief executive said the airline’s expansion into the prestigious Heathrow route reflects the strength of indigenous enterprise and the growing confidence …
Tinubu receives Anders Povlsen, richest man in Denmark, on visit to Nigeria
Abuja, Oct. 29, 2025 – President Bola Tinubu on Tuesday received Anders Holch Povlsen, the richest man in Denmark, who paid a visit to him in the bid to deepen cooperation between the two countries and attract foreign investments. Bayo Onanuga, the Special Adviser to the President on Information and Strategy, disclosed this on his official X handle on Tuesday. He said the meeting was held behind closed doors. According to the statement, Povlsen was accompanied on the visit by the Danish Ambassador to Nigeria, Jens Bach Hansen, and …
Naira appreciates further at official market Monday, closing N1, 452 to dollar
Lagos, Oct. 28, 2025 – The Nigerian currency, the Naira, appreciated further at the official foreign exchange market on Monday, closing at N1,452.5 to the dollar. The currency had closed at N1,455.5 to the dollar at the market on Friday and appreciated slightly on Monday by N3.00. Bids rates quoted by dealers at the market on Monday ranged from N 1,450.0000 to N1,457.0000 to the dollar. The steady appreciation of the naira at the segment has been attributed to the stable macroeconomic environment in the country, monetary policies of …
Fed poised to cut rates this week, with more easing likely on tap
Washington, Oct. 27, 2025 – Federal Reserve policymakers are widely expected to reduce U.S. short-term borrowing costs this week by a quarter of a percentage point for the second time this year as they look to prevent further slowing in the labor market. Odds are it won’t be the last of the series. Climbing unemployment insurance claims suggest that labor market demand continues to cool, even as the government shutdown delays publication of most official economic statistics, including the unemployment rate, last estimated at 4.3% in August. Milder-than-expected inflation …