Naira appreciates to N1,280 against Dollar on parallel market
The naira’s upward trajectory continues as the US dollar is currently trading at N1,280 on the parallel market, reflecting a…
Month: March 2024
Super-sized liquidity returns to Nigeria’s FX market as daily trades near $1bn
Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017 on Thursday, with a total of…
FG directs banks to deduct 0.375% stamp duty on loans
The Federal Government has instructed commercial banks in Nigeria to deduct and remit 0.375% on all loans disbursed by them,…
FG to arraign Binance, 2 others for alleged tax evasion April 4
The Federal Government is set to arraign Binance Holdings Limited and its top officials, Tigran Gambaryan and Nadeem Anjarwalla, on…
CBN sells N1.64 trillion in treasury bills as higher interest rates attract investors
The Central Bank of Nigeria (CBN) successfully conducted an auction of Nigerian Treasury Bills (NTBs) on March 27, 2024, which…
Crypto tycoon Sam Bankman-Fried sentenced to 25 yrs in prison
Sam Bankman-Fried, the disgraced cryptocurrency prodigy, received a 25-year prison sentence on Thursday following his conviction in one of the…
Oando PLC suspended from Johannesburg stock exchange over financial reporting delays
Oando PLC, a prominent Nigerian energy company listed on the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE),…
Daily FX turnover jumps to record $857 million
On Thursday, March 28th, the daily forex turnover reached a remarkable $857 million, marking the highest level since the implementation…
CBN Increases capital base for commercial banks to N500- N200 billion
In a sweeping financial reform announced on Thursday, March 28, 2024, the Central Bank of Nigeria (CBN) has raised the…
South Africa’s producer inflation slows to 4.5%
Statistics South Africa reported that South Africa’s producer inflation rate eased to 4.5% year-on-year in February, down from 4.7% in…
NNPC denies reports of fuel price adjustment
The Nigerian National Petroleum Company Limited (NNPC Ltd) clarified that recent reports suggesting a price change for Premium Motor Spirit…
Presco and Okomu Oil Palm companies eeport profit growth
Data compiled by BusinessDay reveals that the combined profit of Presco Plc and Okomu Oil Palm Company Plc surged by…
Naira strengthens as dollar supply increases at official market
Following the Central Bank of Nigeria’s (CBN) decision to raise key interest rates, the Naira has seen further improvement against…
CBN sends strong signals with interest rate hike
Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), sent two significant messages to the investor community with…
2m youths to be trained in Wema Bank/FGN-ALAT programme
Wema Bank has introduced the second cohort for the FGN-ALAT Digital Skillnovation Programme, in collaboration with the Federal Government of…
Huawei partners with banks, revolutionize finance
Leading banks in Nigeria, including Access, Zenith, and UBA, gathered in Lagos for the Huawei Finance Congress, where Huawei introduced…
Protesters block PH airport entrance over lack of amenities
Residents of Omagwa and Ipo communities in Rivers State staged a protest at the entrance of the Port Harcourt International…
Caverton Injects N1bn In Local Boat Building
Caverton Offshore Support Group has disclosed its investment of approximately N1 billion in in-country boat building, aimed at curbing capital…
Leadership dispute emerges at Eko DisCo
A dispute over leadership has arisen at the Eko Electricity Distribution Company (EKEDC), with conflicting statements regarding the status of…
Dangote, Elumelu, Rabiu, others make Tinubu’s economic team
President Bola Tinubu has given the green light for the establishment of two crucial bodies aimed at addressing Nigeria’s economic…
Make Report Of Betta Edu Probe Public – Group
The Youths Vanguard For Democracy and Good Governance has urged President Bola Tinubu to ensure transparency in the investigation of…
China will be a driving force for the world economic recovery, official says
China is poised to play a pivotal role in driving global economic recovery this year, according to Zhao Leji, the…
UAE’s IRH plans bid for stake in Zambia’s Lubambe copper mine
In the fourth quarter of 2023, South Africa experienced a decrease in foreign direct investment (FDI) inflows, with 16.2 billion…
Kenya resolves its oil importation row with Uganda – report
Kenya’s Energy Minister, Davis Chirchir, has announced that Kenya will permit Uganda’s state oil firm, UNOC (Uganda National Oil Company),…
Yen on intervention watch; Asia shares creep higher
The yen remained near its weakest levels in decades on Thursday, but the threat of intervention by Japanese authorities prevented…
Dollar strengthens against euro and pound
On Thursday, the dollar strengthened against the euro and pound after a Federal Reserve policy maker indicated no rush to…
Ghana maintains high interest rate
Ghana’s central bank decided to keep its main interest rate at 29%, highlighting concerns over the country’s inflation outlook. Despite…
EU restrictions on second-hand clothes exports to impact Kenya
France, Denmark, and Sweden have proposed restricting the export of used clothing from the European Union (EU), citing concerns about…
Libya’s oil and gas minister temporarily suspended
The Government of National Unity in Libya has temporarily suspended its oil and gas minister, citing a legal investigation. The…
Revenue grows despite currency fluctuations- SPAR
South African grocery retailer and wholesaler, SPAR, announced an 8.8% rise in turnover for the 24-week period ending March 15.…