Naira Depreciates by 2.5% in March Amid Flat External Reserves
In March 2025, the naira experienced a 2.5% depreciation against the US dollar in the official foreign exchange market. The…
Month: March 2025
Retym Raises $75 Million to Develop AI-Optimized Chips for Data Centers
Chip startup Retym has secured $75 million in funding as part of a larger $180 million investment to develop networking…
Russian Rouble Expected to Weaken Back to 100 to the US Dollar in a Year
A recent Reuters poll of 18 economists predicts that the Russian rouble will weaken to around 100 to the U.S.…
Nigeria’s External Debt Hits N66.14 Trillion in Q3 2024 Amid Growing Fiscal Pressures
In the third quarter of 2024, Nigeria’s external debt reached N66.14 trillion (approximately $43.03 billion), representing 23.14% of the nation’s…
Nigerians Borrow N470 Billion in Personal Loans Amid Economic Pressures – CBN Report
The Central Bank of Nigeria (CBN) has disclosed that Nigerians took out a total of N470 billion in personal loans…
TikTok Removes 2.4 Million Nigerian Videos in Global Crackdown on Content Violations
In the fourth quarter of 2024, TikTok took down 2.4 million videos from Nigerian users due to policy violations, according…
Apple Hit with $162 Million Fine in France Over Ad Tracking Violations
Apple has been slapped with a €150 million ($162.42 million) fine by French antitrust regulators for allegedly abusing its power…
Global Stocks Extend Losses Amid Deepening US Tariff Fears
Global stock markets continued their downward trajectory on Monday, as fears surrounding the impact of US tariffs weighed heavily on…
Nigerian Stock Market Gains N3.5 Trillion in Q1 2025 Amid Strong Corporate Earnings and Federal Reforms
The Nigerian stock market saw an impressive surge in the first quarter of 2025, with a gain of N3.49 trillion.…
Offshore Investment Withdrawals Impact Nigerian Stock Market as Foreign Participation Declines
Concerns are mounting over the significant decline in foreign investment in the Nigerian Exchange Limited (NGX), as offshore investors withdrew…
Global Stocks Tumble as Tariff Fears and Recession Concerns Grow
World markets experienced sharp declines on Monday, with gold prices hitting a record high as global trade tensions escalated. U.S.…
Zhipu AI Launches Free AI Agent, Escalating China’s Tech Race
Chinese AI startup Zhipu AI has introduced a new free AI agent called AutoGLM Rumination, marking a significant development in…
Sam George Advocates for Inclusive AI Integration to Drive Ghana’s Development
Ghana’s Minister of Communication, Digital Technology, and Innovation, Samuel Nartey George, has emphasized the importance of actively integrating artificial intelligence…
Nigeria Secures $500 Million World Bank Loan to Boost Economic Resilience
Nigeria has secured a $500 million loan from the World Bank to address its ongoing economic challenges through the Community…
Headline: Interbank Rate Hits Five-Year High as CBN Tightens Liquidity to Combat Inflation
In January 2025, Nigeria’s interbank lending rate surged to 28.58 percent, marking a five-year high as the Central Bank of…
General Insurance Industry Contributes 14.4% More to Nigeria’s GDP in 2024
The Nigerian general insurance industry contributed N349.01 billion to the nation’s economy in 2024, marking a 14.4% year-on-year increase from…
Wall Street Faces Volatility Ahead with Tariff Deadline and Key Jobs Data
U.S. stocks are experiencing a rocky period as the market braces for a critical week ahead, marked by President Donald…
Berlin Considers All Options in Response to U.S. Tariffs, Including Targeting Tech Giants
The German government has stated that “nothing is off the table” regarding potential responses to the threat of U.S. tariffs,…
Wall Street Braces for Trump’s Tariff Announcement Amid Ongoing Uncertainty
Wall Street is anxiously awaiting U.S. President Donald Trump’s tariff policy announcement on April 2, hoping it will provide some…
IMF Urges Nigeria to Prioritize Cash Transfers for Vulnerable Households
The International Monetary Fund (IMF) has called on the Nigerian government to expedite the completion of its cash transfer program…
OpenAI Implements Temporary Limits on ChatGPT’s Image Generation Feature Due to High Demand
OpenAI’s new image generation feature in ChatGPT, launched earlier this week, has faced rapid adoption, leading to unexpected server strain.…
Nigeria Accelerates Digital Trade Agenda Under AfCFTA, Seeks Global Partnerships
Nigeria is intensifying its efforts to expand digital trade under the African Continental Free Trade Area (AfCFTA), with a strong…
Nigeria’s Interbank Lending Rate Reaches 5-Year High Amid Central Bank’s Tightened Monetary Policy
Nigeria’s interbank lending rate hit a five-year high of 28.58 percent in January 2025, as the Central Bank of Nigeria…
Gaps in Broadband and Data Centres Threaten Nigeria’s $1tn Economy Target, Warn Telcos
Nigeria’s ambition to reach a $1 trillion economy by 2031 is at risk due to significant gaps in its digital…
MTN Ghana Reports 34% Revenue Growth and Announces Dividend Payout for 2024
MTN Ghana has delivered strong financial results for 2024, showcasing a remarkable 34.5% year-on-year increase in service revenue. This growth…
Nigeria Calls for Global Unity to Address Urbanization Challenges Amid Global Shifts
Nigeria’s government has called for innovative solutions and enhanced international cooperation to tackle the pressing urban development challenges in light…
US Suspends Financial Contributions to WTO Amid Review of Global Commitments
The United States has temporarily halted its financial contributions to the World Trade Organization (WTO) as part of an ongoing…
Nigerian Stock Market Suffers N31bn Loss Amid Mixed Sector Performances
The Nigerian Exchange Limited continued its downward trend on Thursday, with the market capitalisation dipping by N31 billion. The All-Share…
Dollar Faces Volatility as Inflation Data and Tariffs Loom
The U.S. dollar was poised for a steady finish to the week but on track for a quarterly loss, as…
Stakeholders Advocate for Boosting Local Capital to Fuel Impact Investments in Nigeria
At the 2025 Investors Roundtable in Lagos, key stakeholders from the financial, investment, and development sectors emphasized the importance of…