Stakeholders to Address Nigeria’s Declining Consumer Purchasing Power at 2025 Industry Summit
The 2025 Industry Summit & Awards is set to tackle the critical issue of declining consumer purchasing power in Nigeria’s…
Month: March 2025
Dangote Refinery Faces Backlash Over Dollar Sales, Expands Exports and Boosts Local Industry
Oil marketers in Nigeria, represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), have strongly opposed the…
Wall Street Bonuses Surge 32% in 2024, Reaching Record Highs Amid Economic Uncertainty
Wall Street bankers saw their bonuses rise by 31.5% in 2024, bringing the average payout to $244,700, according to New…
Ghana’s Government to Settle $1.1 Billion Debt to ENI Amid Energy Sector Struggles
The government of Ghana is set to pay $1.1 billion in 2025 to ENI, an energy company, to settle outstanding…
CBN Intensifies Efforts to Combat Forex Speculation Amid Naira’s Minor Decline
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the bank’s commitment to maintaining stability in…
U.S. Fed Rate Hold Triggers Sell-Off of Nigeria Eurobonds Amid Global Market Shifts
The decision by the U.S. Federal Reserve to hold interest rates steady has contributed to a significant sell-off of Nigerian…
OpenAI Unveils GPT-4o-Powered Image Generation Directly in ChatGPT
OpenAI has integrated a powerful new image generation tool into ChatGPT, leveraging its advanced GPT-4o model. This feature allows users…
Ghana Loses $1.2 Billion in Gold Revenue Due to Illegal Smuggling in 2022, Minister Reveals
In 2022, Ghana lost an estimated $1.2 billion in gold revenue due to widespread illegal smuggling, according to Finance Minister…
TikTok Pledges Full Cooperation in Nigerian Data Breach Probe
Short video platform TikTok has committed to fully cooperate with the Nigerian Data Protection Commission (NDPC) as the agency investigates…
Nigeria’s Banking Recapitalisation: A Path to Economic Diversification and Stability
Nigeria’s ongoing banking recapitalization exercise is expected to play a crucial role in shaping the country’s economic future. According to…
Inflation Eases for Second Consecutive Month in Nigeria, Analysts Cite FX Stability
Analysts have highlighted the role of relative stability in Nigeria’s foreign exchange (FX) market in easing inflationary pressures. The country’s…
European Investors Urge AI Companies to Show Quick Returns Amid Rising Pressure
European investors are growing increasingly impatient with AI companies that have spent heavily on generative artificial intelligence without delivering tangible…
Stocks Gain, Dollar Drifts as Traders Ponder Trump Tariff Outlook
Asian stock markets followed Wall Street higher on March 26 as traders awaited more clarity on U.S. President Donald Trump’s…
Nigeria’s Digital Payments and Financial Inclusion Set to Reach $1.5 Trillion by 2030 – Mastercard Report
The digital payments sector in Nigeria and across Africa is projected to reach $1.5 trillion by the end of the…
US Economy Faces Potential Stagflation Risks, But Avoiding Severe Economic Strain
Recent projections from the Federal Reserve have raised concerns about the possibility of stagflation, a period characterized by both high…
CBN Governor Cardoso Reaffirms Commitment to FX Stability and Inflation Control
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has reaffirmed the institution’s dedication to stabilizing the foreign exchange market and…
Hong Kong’s Hang Seng Index Falls 2.35% Amid Trump’s Tariff Threats
In a day of mixed trading across Asia-Pacific markets, Hong Kong’s Hang Seng Index experienced a significant drop of 2.35%,…
Nigeria’s Inflation Eases, FirstHoldCo Shines, and Cocoa Prices Surge to Record Highs
Nigeria’s inflation rate has eased to 23.18%, signaling a potential relief for households and businesses as the financial pressure on…
Ghana’s Finance Minister Assures Capital Market Reopening and Debt Repayment Commitment
Finance Minister, Dr. Cassiel Ato Forson, emphasized the importance of reopening Ghana’s capital markets, highlighting the significant role of pension…
Nigerian DisCos Face 33% Revenue Shortfall in 2024 Amid Metering Issues and Poor Service
In 2024, Nigeria’s electricity distribution companies (DisCos) experienced a significant 33% revenue shortfall, collecting only N1.699 trillion of the N2.196…
Ghana Intensifies Efforts to Meet IMF Review Deadline, Outlines Economic Reforms
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has reassured that the government is actively working to meet the International Monetary…
DICE 3.0: Africa’s Premier Tech and Business Networking Event Set for April 2025
DICE 3.0, the latest edition of the premier digital economy mixer, is set to take place on April 3, 2025.…
NGX Group, CBN, and MinieMoney Empower Nigerian Students with Financial Literacy Skills
In a bid to promote financial inclusion, the Nigerian Exchange Group (NGX Group), the Central Bank of Nigeria (CBN), and…
China’s DeepSeek Unveils Advanced AI Model to Challenge OpenAI
Chinese AI startup DeepSeek has launched a significant upgrade to its V3 large language model, DeepSeek-V3-0324, intensifying its competition with…
Nigeria’s Debt Servicing Hits Four-Year High Amid Rising Borrowing and Currency Depreciation
Nigeria’s debt repayment reached a four-year high of $4.65 billion in 2024, marking a 32.9% increase from the previous year.…
Nigerian Stock Market Opens Week with N369bn Gain, Positive Market Sentiment
The Nigerian stock market began the week on a strong note, posting a N369 billion gain, with the Nigerian Exchange…
U.S. Treasury Yields Rise as Hopes of Trade War Easing Boost Investor Confidence
U.S. Treasury yields increased on Monday, driven by growing optimism that President Donald Trump’s stance on trade tariffs may be…
Nigerian Stock Market Faces Fourth Consecutive Week of Losses Amid Uncertainty
The Nigerian stock market continued its downward trend last week, marking its fourth consecutive week of losses. This downturn was…
OpenAI’s Brad Lightcap Takes on Expanded Role to Drive Global Growth and Partnerships
OpenAI’s Chief Operating Officer, Brad Lightcap, is set to lead the company’s global expansion efforts and corporate partnerships, as announced…
Ghana Gov’t to Deploy Technology to Combat Illegal Mining and Boost National Revenue
The government of Ghana has announced plans to implement technology-driven measures to address the growing challenge of illegal mining, which…