Business Local Technology Legend Internet Set to List 2 Billion Shares on NGX, Paving Way for Digital Growth in Nigeria April 23, 2025 Ekemini Legend Internet Plc is making headlines as it prepares to list 2 billion shares on the Nigerian Exchange (NGX) through a listing by introduction. Known for its robust fiber-to-the-home (FTTH)…
International Macroeconomic Trump Slams Fed Chair Powell, Triggering Market Turmoil and Dollar Slide April 23, 2025 Ekemini U.S. financial markets took a sharp dive on Monday after President Donald Trump publicly lashed out at Federal Reserve Chair Jerome Powell, calling him “a major loser” for his reluctance…
Business investment Local Brokers recommend “hold” on banking stocks as market sentiment improves April 23, 2025 Ekemini Market analysts are taking a cautious but optimistic stance on Nigeria’s banking sector, issuing a string of “Hold” recommendations on key banking stocks amid signs of improving investor sentiment. Despite…
Business Local Naira Holds Steady Amid Global Dollar Resurgence and Fed Drama April 23, 2025 Ekemini The naira stayed relatively stable in Nigeria’s unofficial market, trading between N1,600 and N1,605 per dollar, even as the U.S. dollar gained strength after a recent slump. Global concerns like…
Business Finance Local NGX posts N318bn gain after Easter break April 23, 2025 Ekemini The Nigerian Stock Exchange (NGX) saw a positive rebound after the Easter break, with a significant gain of N318 billion in market capitalization. The market ended the session with a…
Local Macroeconomic IMF Forecasts Nigeria’s Inflation to Reach 37% by 2026 Amid Economic Challenges April 23, 2025 Ekemini The International Monetary Fund (IMF) has projected that Nigeria’s headline inflation will surge to 37% in 2026, following the rebasing of the nation’s Consumer Price Index (CPI) by the National…
Business Local Macroeconomic Naira in Circulation Drops to N5tn as of March 2025 Amid Tightened Monetary Policy April 23, 2025 Ekemini As of March 2025, Nigeria’s currency in circulation dropped to N5 trillion, reflecting a decrease from N5.04 trillion in February 2025. This marks a further reduction from the N5.24 trillion…
International Macroeconomic IMF Cuts Global Growth Forecast for 2025 Amid Escalating Trade Tensions and Policy Uncertainty April 23, 2025 Ekemini The International Monetary Fund (IMF) has downgraded its global growth forecast for 2025, now predicting an expansion of just 2.8%, down from the earlier forecast of 3.3%. This sharp reduction,…
Finance Local Macroeconomic Ghana’s Energy Sector Poses Major Economic Threat, Says Finance Minister Ato Forson April 23, 2025 Ekemini Ghana’s Minister of Finance, Dr. Cassiel Ato Forson, has identified the energy sector as the most pressing economic risk currently confronting the nation. Speaking after a strategic session on the…
Business Local Macroeconomic Tinubu Urges Deeper ECOWAS Integration to Harness AfCFTA’s Promise April 23, 2025 Ekemini At the ECOWAS Golden Jubilee event in Accra, Nigerian President Bola Tinubu, represented by Ambassador Bianca Ojukwu, called on West African nations to strengthen economic ties and fully embrace the…
Business Finance Local Macroeconomic Customs Eyes Return of 4% FOB Charge Amid Ongoing Duty Relief Efforts April 23, 2025 Ekemini The Nigeria Customs Service (NCS) has announced plans to reintroduce the controversial four per cent Free-on-Board (FOB) value levy on imports, following broad stakeholder consultations. The Comptroller-General of Customs, Bashir…
Business International Macroeconomic China Warns Nations Against US Trade Deals That Undermine Its Interests April 22, 2025 Ekemini China has issued a stark warning to countries considering trade deals with the United States that could harm its economic interests, signaling a tougher stance amid growing tensions with Washington.…
International investment Arnergy Secures $18M to Scale Solar Energy Access Across Africa April 22, 2025 Ekemini Arnergy, a Nigerian-based leader in distributed renewable energy, has raised $18 million in fresh funding to ramp up solar energy deployments across Africa. The round was led by All On,…
Business Crypto International Bitcoin Surges to $88,000 Amid U.S. Dollar Weakness and Market Volatility April 22, 2025 Ekemini Bitcoin (BTC) surged past $88,000 on Tuesday, marking its highest price since late March. This significant rise came as the U.S. dollar experienced a sharp decline, hitting a three-year low…
Business Local Macroeconomic Naira Hits N1,845/€ on Easter Monday as Euro Climbs to 3-Year High Against the Dollar April 22, 2025 Ekemini On Easter Monday, the Nigerian naira traded at N1,845 against the euro on the black market, marking a slight decline from its previous N1,800/€ support level. This drop came despite…
Business Local Nigerian Equity Market Loses N207bn Amid Easter Holiday Shutdown April 22, 2025 Ekemini The Nigerian equity market experienced a significant decline during a shortened trading week, with a loss of N207 billion in market capitalisation. The Federal Government declared Friday, April 18, and…
Business International Macroeconomic Dollar Falls to Lowest Point Since March 2022 Amid Economic Uncertainty April 22, 2025 Ekemini The US dollar experienced a significant depreciation on Monday, hitting its lowest point since March 2022, as investor confidence in the US economy waned. The currency dropped to 97.923 against…
Business Local Technology Legend Internet to List Two Billion Shares on NGX, Marking Major Milestone for Nigerian Tech Sector April 22, 2025 Ekemini Legend Internet Plc is set to list two billion shares on the Main Board of the Nigerian Exchange Limited (NGX) on April 24, 2024, following a statement from the company.…
Business Local Macroeconomic FX Volatility Drives 9% Increase in Local Inputs Sourcing by Nigerian Manufacturers in 2024 April 22, 2025 Ekemini In 2024, the ongoing foreign exchange (FX) volatility in Nigeria caused a significant shift in the manufacturing sector, leading to a 9% increase in the local sourcing of raw materials.…
Business investment Local Technology Nigeria’s $630 Million Investment in Data Centres to Meet Surge in Internet Usage April 22, 2025 Ekemini As internet usage continues to soar, data centre operators in Nigeria are investing over $630 million to expand their facilities and support growing local cloud demands. Since 2019, the country’s…
Business Finance International Philipp Müller Appointed CEO of Blue Earth Capital to Lead Next Growth Phase in Impact Investing April 22, 2025 Ekemini Blue Earth Capital, a prominent impact investor managing over $1.5 billion in assets, has announced the appointment of Philipp Müller as its new CEO, effective October. Müller comes from BlueOrchard…
Business International Technology C2FO Secures $30 Million Funding to Expand into Emerging Markets with IFC Support April 22, 2025 Ekemini C2FO, a US-based working capital platform, has raised $30 million in funding to enhance its technology and expand its services in emerging markets. The funding round saw participation from the…
Business Finance investment Local Nigeria’s Foreign Investment Surges to Two-Year High Amid High Yields and Rate Hikes April 22, 2025 Ekemini Foreign investment in Nigeria has surged to its highest level in over two years, largely driven by the Central Bank of Nigeria’s aggressive interest rate hikes aimed at attracting capital.…
Finance Local Technology SEC Cracks Down on Unregistered Investment Promotions by Influencers, Enforces New Securities Act April 22, 2025 Ekemini In a strong move to protect Nigerian investors, the Securities and Exchange Commission (SEC) has issued a stern warning to celebrities, bloggers, and social media influencers promoting unregistered investment schemes.…
Business investment Local Top Nigerian Banks Post Record ₦17.3 Trillion in Gross Earnings, Profit Soars by 60% in 2024 April 22, 2025 Ekemini In a year marked by economic hurdles, Nigeria’s top five banks – Zenith Bank, GTCO, UBA, Access Holdings, and First HoldCo – delivered an impressive ₦5.1 trillion in pre-tax profit…
Business International Macroeconomic Ghana Surpasses IMF Reserve Target Early, Strengthening Economic Outlook April 22, 2025 Ekemini Ghana has successfully exceeded a key milestone in its ongoing IMF program, surpassing its gross international reserve target over a year ahead of schedule. As of February 2025, the country’s…
Business International Macroeconomic Ghana to Face Minimal Economic Impact from New US Tariffs, Fitch Solutions Report April 22, 2025 Ekemini Ghana is expected to experience relatively minor economic disruption from the new US tariffs, according to a report by Fitch Solutions. The country is ranked 42nd in Sub-Saharan Africa in…
Business International Macroeconomic IFC Provides Financing Package to Cameroon’s First African Company April 22, 2025 Ekemini The International Finance Corporation (IFC), a member of the World Bank Group, has announced a partnership with First African Company SA (FAC) to enhance local manufacturing of affordable dairy products…
International Technology QED Investors Leads Stitch’s $55 Million Series B April 22, 2025 Ekemini Stitch just secured a massive $55 million Series B funding round, led by major global investors like QED Investors, Flourish Ventures, Glynn Capital, and Norrsken22. The round also saw continued…
Business Local Macroeconomic CBN Mulls Interest Rate Hike as Money Supply Soars to N114.2tn April 22, 2025 Ekemini The Central Bank of Nigeria (CBN) may be gearing up to raise interest rates in May, as inflationary pressures continue to mount and money supply balloons. New data from the…
