CBEX: Oil & gas investors hit hard as fraud surpasses N2trn
The abrupt collapse of Crypto Bridge Exchange (CBEX), a digital investment platform exposed as a Ponzi scheme, has left thousands…
Month: April 2025
IMF Urges Ghana and Affected Nations to Accelerate Reforms Amid Trade Tariff Pressures
The International Monetary Fund (IMF) is calling on Ghana and other countries impacted by the United States’ recent 10% trade…
IMF Warns of Global Economic Strain as U.S. Tariffs Fuel Trade Tensions
The International Monetary Fund (IMF) has raised alarms over mounting global trade tensions, cautioning that rising tariffs—particularly from the United…
CBEX promoters won’t escape justice – SEC
The Securities and Exchange Commission (SEC) has taken a firm stance against the promoters of Crypto Bridge Exchange (CBEX), a…
Hermes To Hike US Prices To Offset Tariff Impact
French luxury brand Hermès announced plans to increase its U.S. prices starting May 1 to counter the impact of a…
FG Targets Cooperative Sector Revamp to Drive $1 Trillion Economy
The Federal Government of Nigeria has launched a comprehensive initiative aimed at revitalizing the country’s cooperative sector, positioning it as…
Nigeria Lands $1.3B Mining Investment, Eyes $25B GDP Surge & $8B FX Boost — Alake
Nigeria just bagged a massive mining investment deal worth $1.3 billion, and it’s being called the biggest private sector-led mining…
Ghana’s Producer Price Inflation Dips to 24.4% in March Amid Sectoral Shifts and Tariff Concerns
Ghana’s Producer Price Inflation (PPI) saw a notable decline in March 2025, falling to 24.4% from 27.6% the previous month,…
Ghana Rolls Out $1M Fund to Empower Northern Farmers and Boost Food Security
In a bold move to strengthen agriculture and combat food insecurity in the northern parts of the country, Ghana’s Minister…
Stakeholders Push for Stronger Monitoring to Accelerate Ghana’s Industrial Growth
In a timely call to action, stakeholders are emphasizing the urgent need for stronger monitoring and evaluation (M&E) frameworks to…
Crypto Market Sheds $633.5 Billion in Q1 2025 Amid Recession Jitters and Investor Caution
The crypto market took a serious hit in the first quarter of 2025, losing over $633 billion in market value—a…
Trump’s 90-Day Tariff Pause and Its Global Trade Impact
In a sudden shift, former U.S. President Donald Trump announced a 90-day pause on tariffs, which had previously caused significant…
Stocks Struggle as Fed’s Powell Issues Caution, Euro Dips Ahead of ECB Meeting
European markets faced a decline on Thursday as uncertainty surrounding the global economy persisted. The STOXX 600 index fell 0.4%,…
Nigeria’s March 2025 Inflation: Rising Pressures and Unexplained Data Anomalies
In March 2025, Nigeria’s inflation rate rose to 24.23% from 23.18% in February, marking the first increase since the rebasing…
Petroleum Experts Urge Fiscal Incentives to Boost Gas and Oil Investment in Nigeria’s Frontier Basins
Ahead of its 50th anniversary, the Nigerian Association of Petroleum Explorationists (NAPE) has called on the federal government to implement…
Google Blocks 5.1 Billion Harmful Ads, Calls for Global Collaboration Against Online Threats
In its 2024 Ads Safety Report, Google revealed its significant efforts to combat online threats, blocking 5.1 billion harmful ads…
Nvidia Defends AI Chip Sales After Suspension of H20 Exports to China, Faces Congressional Investigation
Nvidia has stated that it follows U.S. government export laws “to the letter” after announcing a $5.5 billion loss due…
EU Eyes Nigeria’s Solid Minerals for Trade and Investment Expansion
The European Union (EU) has shown significant interest in expanding trade and investment in Nigeria’s solid minerals sector, which is…
Nigeria and South Africa Sign Mining MoU to Drive Industrialization and Job Creation
Nigeria and South Africa have entered into a Memorandum of Understanding (MoU) to strengthen their mining sectors, aiming to accelerate…
ECOWAS Bank Appoints Ghana’s Finance Minister Cassiel Forson as New Chairman
The ECOWAS Bank for Investment and Development (EBID) has appointed Dr. Cassiel Ato Forson, Ghana’s Minister of Finance, as the…
Christabel Onyejekwe Appointed Chairperson of Africa Prudential as Board Reshuffles Leadership
Christabel Onyejekwe has officially been named the new Chairperson of Africa Prudential Plc, marking a significant leadership transition for the…
Turning Trade Tensions into Opportunity: How Nigeria Can Leverage Global Shifts for Economic Growth
With the ongoing trade rift between the US and several countries—including Nigeria—the Chartered Institute of Directors (CIoD) believes there’s a…
Naira Weakens Slightly to N1,604/$1 in Official Market, Stakeholders Optimistic About Stability
The naira closed at N1,604 to the dollar on Tuesday, slightly weaker from the previous day’s N1,599. The official market…
Nigeria-China Currency Swap at Risk as Trade Imbalance Widens — CBN Warns
The Central Bank of Nigeria (CBN) has expressed concern that the persistent trade imbalance between Nigeria and China is threatening…
Petrol Prices May Drop to N800/Litre as Dangote Refinery Slashes Rates Amid Falling Crude Prices
Petrol prices in Nigeria could soon fall to around N800 per litre due to a combination of declining global crude…
Banking Stocks Drag NGX Down as Investors Lose N445bn in One Day
The Nigerian Exchange (NGX) took a significant hit on Wednesday, April 16, reversing the previous day’s modest rebound. The All-Share…
Naira Stabilizes as FX Market Liquidity Improves, Dollar Rate Inches Down
The Nigerian naira remained stable on Tuesday at the official foreign exchange (FX) market, closing slightly stronger against the dollar.…
Local Investors Take the Lead in Africa’s Evolving Startup Funding Landscape
Africa’s startup funding scene is shifting in a big way, with local investors stepping up more than ever. In 2024,…
Dangote Refinery Slashes Petrol Ex-Depot Price to N835 Amid Global Crude Dip
Dangote Petroleum Refinery has once again brought some relief to the downstream oil sector by cutting the ex-depot price of…
Fitch projects Nigeria’s external debt service to hit $5.2bn in 2025
Fitch Ratings has projected a sharp increase in Nigeria’s external debt service, expecting it to rise to $5.2 billion in…