Banking Business Local CBN’s $2 Billion FX Forwards Audit: Winners, Losers, and the Future of Nigeria’s Forex Market September 2, 2025 Ekemini The Central Bank of Nigeria (CBN) has concluded a forensic audit into disputed foreign exchange (FX) forward contracts, uncovering irregularities worth about $2 billion. The audit, conducted by Deloitte, revealed…
Business Local Amid Excess Liquidity in Financial Sector, Banks’ Borrowing from CBN Slumps 28.2% to N2.9tn in August 2025 September 1, 2025 Ekemini Amid excess liquidity in the financial sector, banks’ borrowing from the Central Bank of Nigeria (CBN) dropped by 28.2 per cent Year-on-Year (YoY) to N2.9 trillion in August 2025 from…
Business Local Market Naira Holds Steady in Black Market as U.S. Dollar Weakens Amid Global Uncertainty September 1, 2025 Ekemini The Nigerian naira remained stable in the black market, trading just below the N1.550/$ range in the first session of September, supported by increased inflows of foreign currency and a…
Business Energy Local Nigeria’s Gas Flaring Drops to 7.16% in July 2025 as Gas Production Hits 7.59 BSCFD September 1, 2025 Ekemini Nigeria recorded a significant energy milestone in July 2025 as gas flaring fell to 7.16%, even as daily gas production rose to 7.59 billion standard cubic feet per day (BSCFD).…
Business Energy Local Dangote Refinery Sources Ghana Crude Amid Production Questions, RFCC Unit Maintenance Reported September 1, 2025 Ekemini Nigeria’s Dangote Refinery has, for the first time, imported crude oil from Ghana, signaling a shift toward greater supply flexibility amid ongoing scrutiny of its operational performance. The refinery, a…
International Technology Lenovo ‘Project Pivo’ Rotating Laptop, Legion Go 2, and AI Tablets Leak Ahead of IFA 2025 September 1, 2025 Ekemini Lenovo is set to make waves at IFA 2025 with a mix of innovative devices, following new leaks from renowned tech leaker Evan Blass. The leaks detail both ready-to-ship products…
Business International Technology Meta’s $14.3B Scale AI Partnership Shows Early Strains Amid Talent Departures and Vendor Shifts September 1, 2025 Ekemini Meta’s multi-billion-dollar partnership with data-labeling startup Scale AI, launched in June with a $14.3 billion investment, is showing signs of strain just months into the collaboration. The investment brought Scale…
Local Technology Nigeria’s 70% Broadband Target at Risk as NCC Reports Consecutive Decline in July September 1, 2025 Ekemini Broadband penetration in Nigeria fell to 48.01% in July 2025, marking the second consecutive monthly decline, according to the Nigerian Communications Commission (NCC). The number of Nigerians with access to…
Local Macroeconomic Nigeria Must Achieve 8% GDP Growth to Hit $1 Trillion Economy by 2030 — Minister Enoh September 1, 2025 Ekemini Nigeria must raise its Gross Domestic Product (GDP) growth from the current 3 percent to around 8 percent to achieve its $1 trillion economy target by 2030, the Minister of…
International Macroeconomic Market Asia Markets Mixed as China PMI Data, India Ties, and U.S. Tariff Ruling Shape Investor Sentiment September 1, 2025 Ekemini Asian stock markets closed mixed on Monday as investors weighed fresh economic data out of China, developments in India-China relations, and a major U.S. court ruling on tariffs. China’s August…
International Technology OpenAI Eyes India for 1 Gigawatt Data Center to Power AI Expansion September 1, 2025 Ekemini OpenAI, the creator of ChatGPT and a major player in the global artificial intelligence industry, is reportedly planning to build a large-scale data center in India with a capacity of…
Business International Market India’s Strong GDP Growth Overshadowed by Weak Corporate Earnings and Market Outflows September 1, 2025 Ekemini India’s economy recorded robust growth of 7.8% in the April–June quarter of 2025, outpacing global peers. Yet, the country’s equity markets remain under pressure as subdued corporate earnings, higher U.S.…
Business Local Market FX Stability, Capital Inflows Push Nigerian Stock Market to N26trn Gain in 8 Months September 1, 2025 Ekemini Nigeria’s stock market recorded a remarkable growth of N26.01 trillion in market capitalisation within the first eight months of 2025, as analysts linked the surge to foreign exchange stability, increased…
Local Macroeconomic Nigeria’s New Debt Strategy Sparks Sustainability Concerns as $1 Trillion Economy Goal Faces Risks September 1, 2025 Ekemini Nigeria’s revised Medium-Term Debt Management Strategy (MTDS) for 2024–2027 has stirred debate over the country’s rising debt burden, with stakeholders warning that the framework could undermine long-term fiscal stability. The…
International Macroeconomic Market Dollar Slips as Fed Rate Cut Bets Rise; Trump-Putin Summit in Focus September 1, 2025 Ekemini The U.S. dollar weakened on Friday, reversing gains from earlier in the week, as traders grew more confident that the Federal Reserve will move ahead with an interest rate cut…
International Technology Xi Jinping Pushes AI Cooperation, Rejects ‘Cold War Mentality’ at SCO Summit in China September 1, 2025 Ekemini Chinese President Xi Jinping has called on members of the Shanghai Cooperation Organization (SCO) to deepen cooperation in artificial intelligence while rejecting what he described as a “Cold War mentality.”…
Banking Business Finance Local Union Bank completes merger with Titan Trust Bank September 1, 2025 Ekemini Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria. In a statement on…
Business Local Macroeconomic Naira Strengthens to ₦1,531.57/$ as CBN Interventions and Rising Reserves Bolster FX Market September 1, 2025 Ekemini The Nigerian naira appreciated to ₦1,531.57 per dollar on Friday, marking a 0.23% gain week-on-week in the official foreign exchange window. This rebound reflects renewed market confidence, after the local…
Business Local Market NGX Revenue Jumps to N24bn on Bank Recapitalisation and New Listings September 1, 2025 Ekemini The Nigerian Exchange Group Plc (NGXGROUP) reported a significant revenue growth to N24 billion in the 2024 financial year, boosted by Nigeria’s banking recapitalisation drive and fresh listings on the…
Business Finance Local Ghana Treasury Bills Undersubscribed by 50% as Yields Decline Across All Tenors September 1, 2025 Ekemini Treasury bill auctions in Ghana continue to struggle with weak investor demand, as the latest primary market results revealed a significant undersubscription. Data from the Bank of Ghana shows that…
Business Economy Local Clearing Agents Urge Customs to Extend Deadline on 905 Overtime Cargoes in Lagos Ports September 1, 2025 Ekemini Licensed clearing agents have appealed to the Nigeria Customs Service (NCS) to extend its two-week ultimatum for importers to clear 905 overtime cargoes stranded at various terminals in Lagos State.…
Business Local Technology Nigeria’s Internet Data Usage Hits Record High Despite Falling Subscriptions September 1, 2025 Ekemini Nigeria’s internet usage has reached a record peak even as millions of subscribers abandon telecom networks due to rising costs. Fresh data from the Nigerian Communications Commission (NCC) shows that…
Banking Business Local Nigerian Bank Customers Decry Failed USSD Transactions, Hidden Charges, and Demand CBN Intervention September 1, 2025 Ekemini Bank customers across Nigeria are raising concerns over rising cases of failed transactions and unexplained charges on electronic banking channels, particularly the Unstructured Supplementary Service Data (USSD) platform. Many depositors…
Business International investment Macroeconomic Nigeria and Brazil Central Banks Forge Stronger Financial Cooperation to Boost Trade and Stability September 1, 2025 Ekemini The Central Bank of Nigeria (CBN) and the Banco Central do Brasil have pledged to deepen financial and economic cooperation after a high-level meeting between CBN Governor Olayemi Cardoso and…
