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…
Month: April 2025
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…
China Warns Nations Against US Trade Deals That Undermine Its Interests
China has issued a stark warning to countries considering trade deals with the United States that could harm its economic…
Arnergy Secures $18M to Scale Solar Energy Access Across Africa
Arnergy, a Nigerian-based leader in distributed renewable energy, has raised $18 million in fresh funding to ramp up solar energy…
Bitcoin Surges to $88,000 Amid U.S. Dollar Weakness and Market Volatility
Bitcoin (BTC) surged past $88,000 on Tuesday, marking its highest price since late March. This significant rise came as the…
Naira Hits N1,845/€ on Easter Monday as Euro Climbs to 3-Year High Against the Dollar
On Easter Monday, the Nigerian naira traded at N1,845 against the euro on the black market, marking a slight decline…
Nigerian Equity Market Loses N207bn Amid Easter Holiday Shutdown
The Nigerian equity market experienced a significant decline during a shortened trading week, with a loss of N207 billion in…
Dollar Falls to Lowest Point Since March 2022 Amid Economic Uncertainty
The US dollar experienced a significant depreciation on Monday, hitting its lowest point since March 2022, as investor confidence in…
Legend Internet to List Two Billion Shares on NGX, Marking Major Milestone for Nigerian Tech Sector
Legend Internet Plc is set to list two billion shares on the Main Board of the Nigerian Exchange Limited (NGX)…
FX Volatility Drives 9% Increase in Local Inputs Sourcing by Nigerian Manufacturers in 2024
In 2024, the ongoing foreign exchange (FX) volatility in Nigeria caused a significant shift in the manufacturing sector, leading to…
Nigeria’s $630 Million Investment in Data Centres to Meet Surge in Internet Usage
As internet usage continues to soar, data centre operators in Nigeria are investing over $630 million to expand their facilities…
Philipp Müller Appointed CEO of Blue Earth Capital to Lead Next Growth Phase in Impact Investing
Blue Earth Capital, a prominent impact investor managing over $1.5 billion in assets, has announced the appointment of Philipp Müller…
C2FO Secures $30 Million Funding to Expand into Emerging Markets with IFC Support
C2FO, a US-based working capital platform, has raised $30 million in funding to enhance its technology and expand its services…
Nigeria’s Foreign Investment Surges to Two-Year High Amid High Yields and Rate Hikes
Foreign investment in Nigeria has surged to its highest level in over two years, largely driven by the Central Bank…
SEC Cracks Down on Unregistered Investment Promotions by Influencers, Enforces New Securities Act
In a strong move to protect Nigerian investors, the Securities and Exchange Commission (SEC) has issued a stern warning to…
Top Nigerian Banks Post Record ₦17.3 Trillion in Gross Earnings, Profit Soars by 60% in 2024
In a year marked by economic hurdles, Nigeria’s top five banks – Zenith Bank, GTCO, UBA, Access Holdings, and First…
Ghana Surpasses IMF Reserve Target Early, Strengthening Economic Outlook
Ghana has successfully exceeded a key milestone in its ongoing IMF program, surpassing its gross international reserve target over a…
Ghana to Face Minimal Economic Impact from New US Tariffs, Fitch Solutions Report
Ghana is expected to experience relatively minor economic disruption from the new US tariffs, according to a report by Fitch…
IFC Provides Financing Package to Cameroon’s First African Company
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a partnership with First African Company…
QED Investors Leads Stitch’s $55 Million Series B
Stitch just secured a massive $55 million Series B funding round, led by major global investors like QED Investors, Flourish…
CBN Mulls Interest Rate Hike as Money Supply Soars to N114.2tn
The Central Bank of Nigeria (CBN) may be gearing up to raise interest rates in May, as inflationary pressures continue…