Naira muted in unofficial market, Dollar turns green in global market
The Nigerian naira stayed relatively flat in the unofficial market, trading between N1,600 and N1,605 to the dollar, even as…
Day: April 23, 2025
Nigerians Boost Savings as Quasi-Money Climbs 3.65% in March 2025 Amid Economic Uncertainty
Nigerians are leaning into savings as the economy faces continued uncertainty, with quasi-money—highly liquid financial assets like savings and fixed…
EU Slaps €700 Million Fine on Apple and Meta for Breaching Digital Competition Laws
In a significant move on April 23, 2025, the European Union fined Apple and Meta a total of €700 million…
IOCs Undermine Nigerian Refineries by Dodging Local Crude Supply Mandates
Despite legal obligations under Nigeria’s Petroleum Industry Act (PIA), international oil companies (IOCs) continue to bypass direct supply of crude…
OpenAI Eyes Chrome Acquisition Amid Google Antitrust Trial, Cites AI Competition Stakes
OpenAI has expressed interest in potentially acquiring Google’s Chrome browser if regulators force its sale, according to testimony from ChatGPT…
Flutterwave and Yellow Card Join Circle’s Global Payments Network to Boost Cross-Border Transactions with Stablecoins
Flutterwave and Yellow Card have officially joined the Circle Payments Network (CPN), a major step in transforming how cross-border payments…
Nigerian Insurance Sector Experiences 61% Growth in 2024, with Focus on Claims Innovation and Expansion
The Nigerian insurance industry has witnessed an impressive 61% growth as of the third quarter of 2024, as reported by…
IMF Warns of Growing Global Financial Stability Risks Amid Tightening Conditions and Uncertainty
The International Monetary Fund (IMF) has issued a warning about rising global financial stability risks, driven by tighter financial conditions,…
U.S. Regulatory Scrutiny Sparks Fears of Chinese Stock Delisting
Concerns over the potential delisting of Chinese stocks from U.S. exchanges have been reignited, particularly following comments from U.S. Treasury…
Legend Internet Set to List 2 Billion Shares on NGX, Paving Way for Digital Growth in Nigeria
Legend Internet Plc is making headlines as it prepares to list 2 billion shares on the Nigerian Exchange (NGX) through…
Trump Slams Fed Chair Powell, Triggering Market Turmoil and Dollar Slide
U.S. financial markets took a sharp dive on Monday after President Donald Trump publicly lashed out at Federal Reserve Chair…
Brokers recommend “hold” on banking stocks as market sentiment improves
Market analysts are taking a cautious but optimistic stance on Nigeria’s banking sector, issuing a string of “Hold” recommendations on…
Naira Holds Steady Amid Global Dollar Resurgence and Fed Drama
The naira stayed relatively stable in Nigeria’s unofficial market, trading between N1,600 and N1,605 per dollar, even as the U.S.…
NGX posts N318bn gain after Easter break
The Nigerian Stock Exchange (NGX) saw a positive rebound after the Easter break, with a significant gain of N318 billion…
IMF Forecasts Nigeria’s Inflation to Reach 37% by 2026 Amid Economic Challenges
The International Monetary Fund (IMF) has projected that Nigeria’s headline inflation will surge to 37% in 2026, following the rebasing…
Naira in Circulation Drops to N5tn as of March 2025 Amid Tightened Monetary Policy
As of March 2025, Nigeria’s currency in circulation dropped to N5 trillion, reflecting a decrease from N5.04 trillion in February…
IMF Cuts Global Growth Forecast for 2025 Amid Escalating Trade Tensions and Policy Uncertainty
The International Monetary Fund (IMF) has downgraded its global growth forecast for 2025, now predicting an expansion of just 2.8%,…
Ghana’s Energy Sector Poses Major Economic Threat, Says Finance Minister Ato Forson
Ghana’s Minister of Finance, Dr. Cassiel Ato Forson, has identified the energy sector as the most pressing economic risk currently…
Tinubu Urges Deeper ECOWAS Integration to Harness AfCFTA’s Promise
At the ECOWAS Golden Jubilee event in Accra, Nigerian President Bola Tinubu, represented by Ambassador Bianca Ojukwu, called on West…
Customs Eyes Return of 4% FOB Charge Amid Ongoing Duty Relief Efforts
The Nigeria Customs Service (NCS) has announced plans to reintroduce the controversial four per cent Free-on-Board (FOB) value levy on…