IBM Shifts African Operations to MIBB, Exiting Key Markets in Nigeria and Ghana
IBM, the American tech giant, is reportedly set to exit Nigeria, Ghana, and other significant African markets. This shift in…
Day: February 6, 2025
Nigeria’s GDP Growth May Fall to 0.8% in 2025, Warns Rand Merchant Bank
Nigeria’s economic growth could significantly slow down in 2025, with projections suggesting a possible dip to 0.8% growth, a rate…
Excessive govt spending undermining monetary policy – MPC member
A member of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), Murtala Sagagi, has raised concerns over excessive…
UAC Nigeria Reports 109% Profit Growth in 2024, Driven by Strategic Market Initiatives
UAC Nigeria PLC, a diversified holding company, reported impressive financial results for the year 2024, showing a significant 109% increase…
Bulls persist at NGX as equities investors earn N332.2bn
The Nigerian stock market maintained a positive trajectory, as the All-Share Index (ASI) gained 0.51%, closing at 105,324.89 points. This…
Mahama Nominates Thomas Nyarko Ampem as Deputy Finance Minister-GHANA
In a significant move to strengthen the country’s economic management, President John Dramani Mahama has nominated Thomas Nyarko Ampem, the…
Ghana National Gas Company Faces Growing Debt Crisis Amid VRA Payment Struggles
The Ghana National Gas Company Limited (GNGLC) is grappling with a deepening financial crisis, largely stemming from the inability of…
FG plans new national shipping line
The Nigerian Ministry of Marine and Blue Economy has launched a strategic initiative to establish a national flag carrier through…
TTP Integrates CBN’s NXP System with Ètò Electronic Call-Up to Streamline Nigeria’s Export Process
Trucks Transit Parks Ltd (TTP) has announced the successful integration of the Central Bank of Nigeria’s (CBN) Nigeria Export Proceeds…
FG must bolster domestic industries to achieve $1trn economy –NESG
The Nigerian Economic Summit Group (NESG) has called on the Federal Government to prioritize the support of local industries to…
Edun Highlights Nigeria’s Economic Growth to Investors, Turkish Delegation
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, presented the country’s economic transformation over the…
Report: GenAI Flaws Could Negatively Impact Organisation’s Cybersecurity Strategies
A recent report by Sophos, a leader in cybersecurity solutions, highlights both the potential and the risks of Generative Artificial…
Tinubu Proposes N54.6 Trillion Budget for 2025: Implications for Nigeria’s Economy and Growth
On February 6, 2025, President Bola Tinubu proposed a budget increase for Nigeria, raising the 2025 budget from N49.7 trillion…
Naira’s Parallel Market Approaches Official Exchange Rate Amid CBN Reforms
The Nigerian naira has been steadily appreciating in the parallel market, narrowing the gap with the official foreign exchange (FX)…
Trump’s Tariffs and Shale Oil Boom Pose Risks to Naira’s Recovery
Donald Trump’s imposition of strategic tariffs on imports from key trade partners, including China, Canada, and Mexico, is expected to…
U.S. Bill Could Ban Deepseek Over Security Concerns”
A new bill proposed by Republican Senator Josh Hawley aims to ban technology developed in China, such as the Chinese…
Equity market booms as NGX gains N332bn
The Nigerian Stock Exchange (NGX) experienced a significant rally on February 5, 2025, as the equity market gained NGN 332…
Six companies record N255bn FX loss
Six companies listed on the Nigerian Exchange Limited reported a combined foreign exchange (FX) loss of N255.72 billion for the…
FG seeks fresh $580m W’Bank loans
Nigeria is in discussions with the World Bank to secure two new loans totaling $580 million, with approval expected in…
CBN Sets $25,000 Weekly Limit on BDC Forex Purchases to Stabilize Naira
The Central Bank of Nigeria (CBN) has announced new forex restrictions, limiting Bureau de Change (BDC) operators to purchasing a…