AfCFTA Chief Challenges Intra-Africa Trade Figures, Rallies Business Support for IATF 2025
Wamkele Mene, the Secretary-General of the African Continental Free Trade Area (AfCFTA), has cast doubt on widely cited statistics that…
Month: June 2025
Government Orders 10–15% Data Bundle Boost by July 1 to Improve Accessibility-Ghana
In a major policy move aimed at improving internet accessibility across Ghana, the government has directed all major mobile network…
Recapitalization Deadline: BDCs In Talks With CBN, Seek Extension To Dec 31
Following the expiration of the June 3, 2025 recapitalisation deadline for Bureau De Change (BDC) operators, a majority of players…
France’s Mistral Launches Europe’s First AI Reasoning Model in Bid to Rival U.S. and China
French AI startup Mistral has unveiled Europe’s first AI reasoning model, marking a significant step in the continent’s race to…
Crypto Exchange Bullish Quietly Files for U.S. IPO Amid Renewed Market Optimism
Peter Thiel-backed cryptocurrency exchange Bullish has reportedly filed confidentially for an initial public offering (IPO) in the United States, according…
Dollar Holds Steady as U.S.-China Trade Truce Offers Limited Certainty
The U.S. dollar and Chinese yuan remained largely unchanged following trade talks in London, where U.S. and Chinese officials reached…
Markets Wary Despite US-China Trade Framework as Investors Await Concrete Details
Global markets responded cautiously on Wednesday to the announcement that the United States and China had agreed on a trade…
Nigeria’s $5 Billion Aramco Loan Stalls Amid Falling Oil Prices and Supply Concerns
Nigeria’s ambitious plan to secure a $5 billion oil-backed loan from Saudi oil giant Aramco has encountered significant setbacks, primarily…
Profit-Taking Drags Nigerian Stock Market Down by N377.9bn After Sallah Break
The Nigerian stock market opened on a bearish note after the Sallah holiday, suffering a major setback as investors embarked…
FX Inflows Surge 62% in May to $5.96bn as Investor Confidence Rebounds
Nigeria’s foreign exchange (FX) market experienced a significant revival in May 2025, as total inflows rose sharply by 62% month-on-month…
EU Lauds Kano as Strategic Hub for Investment and Development in Nigeria
The European Union (EU) has acknowledged Kano State as a promising destination for investment and entrepreneurship, with potential spanning sectors…
National Assembly Eyes Extension of 2024 Capital Budget, Pushes June 12 as National Address Day
The National Assembly is considering a further extension of the capital expenditure component of the 2024 federal budget to ensure…
Meta and Nigerian Government Launch AI Accelerator to Drive Local Innovation
Meta, in collaboration with Nigeria’s Federal Ministry of Communications, Innovation, and Digital Economy (FMCIDE), has launched the Llama Impact Accelerator…
Global Outage Hits OpenAI’s ChatGPT, Users Worldwide Left Disconnected
OpenAI’s ChatGPT, one of the world’s most popular AI-powered chatbots, experienced a significant global outage on Tuesday, June 10, 2025.…
SEC Orders Companies to Release Long-Unclaimed Dividends, Enforces Finance Act 2020
The Securities and Exchange Commission (SEC) has issued a firm directive to public companies and their registrars, instructing them to…
Global Economy Slows to Weakest Pace Since 2008, Warns World Bank
The global economy is expected to grow at its slowest rate since 2008—excluding periods of global recession—due to increasing trade…
Nigeria and Saudi Aramco’s $5bn Oil-Backed Loan Stalls Amid Crude Price Drop
Nigeria and Saudi Aramco are facing major hurdles in finalizing a landmark $5 billion oil-backed loan, as falling global crude…
Afreximbank Defends Financial Integrity Amid Fitch’s Negative Outlook Over Sovereign Debt Risk
The African Export-Import Bank (Afreximbank) has responded to a recent Fitch Ratings report that assigned a negative outlook to the…
Google Faces Record Fine in Mexico as Antitrust Decision Nears
Mexico’s Federal Economic Competition Commission (Cofece) is expected to rule by June 17 on whether Google engaged in monopolistic practices…
Wall Street Wavers as U.S.-China Trade Talks Hang in Balance
Wall Street futures were largely flat on Tuesday as investors kept a close watch on the ongoing U.S.-China trade negotiations,…
Treasury Yields Dip as U.S.-China Trade Talks Resume Amid Market Caution
U.S. Treasury yields fell on Tuesday as investors closely monitored the ongoing trade negotiations between the United States and China…
French AI Challenger Mistral Unveils First European-Focused Reasoning Model to Rival OpenAI, DeepSeek
French artificial intelligence startup Mistral, backed by Microsoft, has officially entered the global AI race with the launch of its…
Amazon Commits $20 Billion to Pennsylvania Data Centres in Major AI and Cloud Push
Amazon has announced a landmark investment of at least $20 billion in Pennsylvania to expand its data centre footprint and…
Nigerian Marketers Strike Global Deal to Cut Petrol Price to N700/Litre Amid Industry Shake-Up
Nigerian petroleum marketers have partnered with international suppliers to import cheaper fuel, aiming to reduce petrol prices to around N700…
Tinubu stabilising Nigeria’s economy…he deserves encouragement – Fayose
Former Ekiti State Governor Ayodele Fayose has voiced his support for President Bola Tinubu, commending his efforts to stabilize Nigeria’s…
Nigeria’s FX Market Soars with $5.96bn Boost, Driven by Local Export and Import Surge
Nigeria’s foreign exchange market witnessed a major uplift in May 2025, with total inflows jumping by 62% month-on-month to reach…
Nigeria’s N22.8 Trillion Pension Assets Face Credit and Liquidity Hurdles in Infrastructure Push
Nigeria’s pension assets, totaling N22.8 trillion as of January 2025, remain vastly underutilized for infrastructure development due to prevailing credit…
Naira Holds Firm Below N1,600 as Market Optimism Grows Despite Global Dollar Jitters
The Nigerian naira maintained a relatively strong position below the N1,600/$ mark during the recent holiday period, trading within a…
Meta Bets Big on Scale AI with Historic $10 Billion Investment
Meta Platforms Inc. is preparing to invest more than $10 billion in Scale AI, a move that marks its most…
Dangote Promises Major Overhaul of Nigeria’s Oil Sector Following Tinubu’s Refinery Visit
Aliko Dangote, President of the Dangote Group, has announced plans for a sweeping transformation of Nigeria’s downstream oil sector, signaling…