Tinubu approves plan to attract $122bn power investments
President Bola Tinubu has officially approved a bold new reform initiative for Nigeria’s power sector, signing off on the National…
Month: May 2025
SEC to Convene Q1 Capital Market Meeting in Lagos to Boost Investor Confidence and Reform Policies
The Securities and Exchange Commission (SEC) has scheduled its first-quarter Capital Market Committee meeting for May 19, 2025. The event…
Nigeria Faces Economic Crisis as Oil Prices Dip Below $60, Threatening Fiscal Stability and the Naira
Nigeria is facing a dual economic crisis as Brent crude oil prices plummet below $60 per barrel, sparking fears of…
Trump Cuts $500M from African Development Bank, Deepening Africa’s Financial Strain
The Trump administration’s proposed 2026 budget includes a significant reduction in U.S. support for the African Development Fund (ADF), which…
Bybit Enters Traditional Markets with U.S. Stocks and Commodities in Bold Expansion
Bybit, a prominent crypto exchange, is diversifying its offerings by adding U.S. stocks and commodities like gold and crude oil…
Enugu Unveils Bold Mining Reforms to Protect Lives and Empower Host Communities
In a major move to overhaul the mining sector, the Enugu State Government has launched new regulations aimed at formalizing…
CBN Spends N315 Billion on Currency Management Amid Cash Crisis in 2024
In 2024, the Central Bank of Nigeria (CBN) faced a staggering 305.7% increase in currency management costs, rising from N77.67…
Dollar Dips Amid Taiwan Currency Surge and Global Revaluation Buzz
The U.S. dollar weakened on Monday following a dramatic surge in the Taiwan dollar, which jumped over 7% in just…
Tariff Turbulence: How Trump’s Trade Moves Are Slowing the Global Economy
President Donald Trump’s tariff policies are beginning to drag significantly on the global economy, disrupting decades of relatively free and…
CBN’s 2024 Turnaround: A Cautious Yet Promising Step Toward Economic Stability
In a decisive break from its turbulent past, the Central Bank of Nigeria (CBN) has posted its 2024 financial results,…
Tinubu Moves to Avert Power Sector Collapse with N4trn GenCo Debt Plan
President Bola Tinubu is taking urgent steps to prevent a potential collapse of Nigeria’s power sector by addressing the staggering…
Nigeria to Meta: Exiting Won’t Erase Violations or Deter Accountability
Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has firmly responded to Meta’s warning about potentially pulling Facebook and Instagram…
Trade Tensions Shake Oil Market, Pressure Naira as Economic Worries Deepen
Global oil markets faced renewed turbulence in April as heightened trade tensions—particularly between the United States and China—sparked a sharp…
Markets Rebound as Hopes Rise for U.S.-China Trade Talks Amid Global Economic Concerns
Global stock markets rebounded strongly on Friday following signs that the United States and China may return to the negotiating…
Nigeria eGovernment Summit 2025 to Spotlight PPPs as Catalyst for Digital Governance
The 2025 edition of the Nigeria eGovernment Summit is gearing up to advance digital governance through the strategic use of…
Nigeria Emerges as Africa’s Fastest-Growing Web3 Developer Hub
Nigeria has become Africa’s fastest-growing Web3 developer hub, contributing 4% of all new global Web3 developers, the highest in the…
Petrol Landing Cost Surpasses Dangote Refinery Price, Fuel Importers Struggle with Profit Margins
The landing cost of Premium Motor Spirit (PMS), or petrol, has now reached an average of N870 per litre, surpassing…
AfDB Approves $650 Million Annual Commitment for Nigeria’s Economic Growth
The African Development Bank (AfDB) has officially approved a new Country Strategy Paper (CSP) for Nigeria, covering the period from…
SEC Flags TOFRO as Suspected Ponzi Scheme, Warns Nigerians Against Investment
The Securities and Exchange Commission (SEC) has issued a public warning regarding TOFRO.COM (Tofro), an online cryptocurrency trading platform, labeling…
Dangote Rides Tariff Wave, Doubles Down on Urea Exports to U.S.
Aliko Dangote, President of Dangote Industries Limited, has signaled confidence in the face of new U.S. tariffs, announcing plans to…
Mahama Vows Ghana Will Complete IMF Programme On Time Without Extension
President John Dramani Mahama has affirmed that Ghana will conclude its $3 billion Extended Credit Facility programme with the International…
Fitch Solutions Maintains Ghana’s 2025 Growth Forecast at 4.2% Amid Global Economic Headwinds
Fitch Solutions has maintained its projection that Ghana’s economy will grow by 4.2% in 2025, slightly outpacing the International Monetary…
FG Launches E-Invoicing Committee to Combat Tax Evasion and Boost Revenue
The Federal Government has inaugurated the National Electronic Invoicing Inter-Agency Steering Committee to oversee the deployment of a new digital…
NGX Group Returns to Profit Growth as Income and Cost Efficiency Improve
The Nigerian Exchange Group Plc posted a notable 58% surge in its profit after tax for the first quarter of…
CBEX Reboots Amid Fraud Probes and Regulatory Warnings, Lures Fresh Investors with New Promises
Despite a federal investigation and a reported N1.2 trillion loss impacting over 600,000 Nigerians, Crypto Bridge Exchange (CBEX) has resumed…