China Maintains Benchmark Lending Rates Amid Economic Uncertainties
China’s central bank, the People’s Bank of China (PBOC), decided to leave its benchmark lending rates unchanged in February, reflecting…
Month: February 2025
Wealth Soars by N505 Billion Amid Gains in BUA Foods, Eterna, and Others
The Nigerian Exchange Limited (NGX) closed on a positive note yesterday, reversing previous losses, thanks to strong performances from prominent…
Nigerian Researcher Develops AI-Powered ESG Model to Enhance Corporate Sustainability
Feyisayo Michael, a Nigerian-born Chartered Accountant and AI sustainability expert, has unveiled an innovative AI-powered carbon accounting model designed to…
CBN Orders Immediate Resignation of Bank Directors Over Non-Performing Insider Loans
Insider loans are loans granted by a bank or financial institution to its own executives, directors, employees, major shareholders, or…
Govt Contributes GHS9.7 Billion to Sinking Fund for Debt Management-GHANA
The Ghanaian government, under the leadership of the Mahama administration, has made a significant contribution to the Debt Service Recovery…
Ghana Fuel Prices Drop for the First Time in 2025
Fuel prices in Ghana have seen a decline for the first time in 2025, following a series of price increases…
West Africa Faces Volatile Food Prices Amid Insecurity and Economic Challenges-GHANA
A recent report by the Food Security Monitor reveals persistent volatility in food prices across West Africa, largely influenced by…
CBN Governor Advocates Stronger Ties with Middle East
In a move to bolster economic relations, Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has called…
South Korea Joins Italy in Banning DeepSeek Downloads Amid Data Privacy Concerns
In a move that echoes Italy’s recent actions, South Korea has halted new downloads of the DeepSeek AI app due…
The Rise of Autonomous AI Agents: Revolutionizing Industries and Reshaping Economies
Autonomous AI agents are no longer a distant concept from science fiction they are here and rapidly transforming industries in…
Naira Devaluation Exaggerates Nigeria’s Non-Oil Export Growth Despite Struggling Sector
Nigeria’s non-oil export sector showed growth in 2024, with the Nigerian Export Promotion Council (NEPC) reporting a rise to N9.65…
European Markets Rise Amid Geopolitical Tensions and Economic Data
European markets are expected to open broadly higher on Tuesday, February 18, 2025, despite the ongoing geopolitical tensions surrounding the…
CBN Forecasts Job Growth Across Sectors by February 2025
The Central Bank of Nigeria (CBN) has forecasted a positive outlook for job growth and increased employment opportunities across various…
CBN Introduces Key Reforms to Safeguard Nigeria’s Financial System
The Central Bank of Nigeria (CBN) plays a vital role in ensuring the stability of Nigeria’s financial system, which is…
Nigeria’s Foreign Reserves Exceed $40 Billion as CBN Strengthens Forex Market
Nigeria’s foreign reserves have exceeded the $40 billion mark for the first time in three years, marking a significant milestone…
Bond Investors Urged to Rethink Strategies as Interest Rate Cuts Loom
Bond investors are being urged to reconsider their strategies as projections grow regarding a potential interest rate cut by the…
NBS Reports Inflation Decline to 24.48% in January After CPI Rebasing
The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate for January 2025 stands at 24.48%, a significant…
Dangote: $23bn Refinery Project Was the Biggest Risk of My Life
Billionaire Aliko Dangote has shared that his $23 billion Dangote Refinery project was the biggest risk of his life, highlighting…
Inflation Pushes Consumer Credit to N4.42tn in November, CBN Report Shows
Nigeria’s consumer credit outstanding surged by 26.29% in November 2024, reaching a record N4.42 trillion, up from N3.5 trillion in…
FG Advocates for Equitable Visa Policies to Boost Nigeria’s Global Trade Expansion
The Nigerian government is advocating for more relaxed and equitable visa policies to support Nigerian businesses in their efforts to…
Russia Fines Google $41,500 for Hosting YouTube Video on Surrendering Soldiers
A Russian court has imposed a fine of 3.8 million roubles (approximately $41,530) on Alphabet Inc.’s Google for hosting a…
China Invites Tech Leaders Including Jack Ma for Meeting with President Xi
As the global trade landscape shifts under the new Trump administration, China is working to reconnect with its key tech…
Understanding cNGN: Nigeria’s Newly Launched Stablecoin
cNGN is Nigeria’s stablecoin, designed to maintain a fixed value for practical uses like payments, remittances, and trading. Unlike volatile…
CBN: Nigeria’s Economy Expands for Second Month, Led by Industry and Agriculture
Nigeria’s economic expansion continued in January 2025, marking the second consecutive month of positive growth, according to the latest Purchasing…
South Korea Plans to Acquire 10,000 GPUs for AI Development
South Korea is ramping up its efforts to stay competitive in the global AI race by announcing plans to secure…
Nigeria’s Cyber Threat Risk Rises as Attacks Surge, Now Ranked 11th in Africa
Nigeria’s cyber threat risk has significantly increased, with the country now ranked 11th on the Cyber Threat Index for African…
Banks and Fintechs in Nigeria Embrace Blockchain to Boost Financial Services
In early January 2025, PalmPay, a fintech platform, announced its integration of blockchain technology to improve transaction reliability, setting a…
NGX Sees Significant Surge in Equity Transactions, Reaching N5.59 Trillion in 2024
The Nigerian Exchange Limited (NGX) reported a remarkable surge in equity transactions for 2024, with the total value rising to…
Naira Strengthens at Parallel Market, Weakens on Official Exchange Rate
In the past week, the naira exhibited a mixed performance across different segments of the foreign exchange market, reflecting the…
Increased Oil Production Key to Tackling Inflation and FX Volatility, Says Agusto & Co.
Agusto & Co., a Pan-African credit rating agency, has stressed the importance of increased crude oil production in addressing Nigeria’s…