Business investment Local Nigeria’s Foreign Exchange Reserves Surge to $23.11bn in 2024 April 2, 2025 Ekemini Nigeria’s foreign exchange reserves have surged to $23.11 billion at the close of 2024, marking the highest level in over three years. The Central Bank of Nigeria (CBN) reported this…
Business Local Macroeconomic Business Confidence Hits 14-Month High as Inflation Eases in Nigeria April 2, 2025 Ekemini Business confidence in Nigeria reached its highest point in 14 months in March, as businesses experienced rising demand for their goods and services. According to Stanbic IBTC’s latest Purchasing Managers’…
Business Economy Local Tinubu Sacks Kyari, Akinyelure, Appoints Bayo Ojulari As New GCEO Of NNPCL April 2, 2025 Ekemini In a significant shake-up, President Bola Tinubu has approved the reconstitution of the Nigerian National Petroleum Company (NNPC) Limited’s board. The move saw the dismissal of Chief Pius Akinyelure, the…
Local Macroeconomic Naira-for-Crude Deal Faces Uncertainty as Dangote Refinery Imports Record Quantities of Oil April 1, 2025 Ekemini The Federal Government’s naira-for-crude policy, aimed at stabilizing fuel prices and the foreign exchange market, may continue despite uncertainty over its renewal. Sources close to the deal confirmed that all…
Business Local Nigeria’s New Capital Market Laws Recognize Cryptocurrencies as Securities April 1, 2025 Ekemini Nigeria has officially recognized cryptocurrencies and other virtual assets as securities under its new capital market laws, marking a significant shift in its regulatory landscape. The Investments and Securities Act…
Finance International Technology China Urges Banks to Boost Credit Support for Technology Firms April 1, 2025 Ekemini China’s National Financial Regulatory Administration has called on banks to increase their issuance of credit loans and medium- and long-term loans to technology enterprises. The move aims to support the…
Business International Technology Luxshare Considers Hong Kong Listing to Raise up to $3 Billion April 1, 2025 Ekemini China’s Luxshare Precision Industry, a major supplier for Apple, is reportedly exploring a potential listing in Hong Kong this year. The Shenzhen-listed company, known for producing Apple AirPods, is in…
International Macroeconomic Global Stocks Struggle as Tariff Fears and Economic Slowdown Weigh on Markets April 1, 2025 Ekemini Global stocks took a hit as traders reacted to increasing concerns over President Donald Trump’s impending tariff announcement, which has escalated fears of a broader trade war. The global selloff…
Africa Local Macroeconomic BoG Unveils New Measures to Strengthen Liquidity Management- Ghana April 1, 2025 Ekemini The Bank of Ghana (BoG) has introduced additional measures aimed at tightening liquidity management within the economy. This move is part of the central bank’s broader strategy to ensure macroeconomic…
Local Macroeconomic CBN Restructures Pre-shipment Inspection Agent Allocations to Improve Efficiency in Oil and Gas Sector April 1, 2025 Ekemini The Central Bank of Nigeria (CBN) has launched a comprehensive restructuring of the allocation of terminals to Pre-Shipment Inspection Agents (PIAs) and their monitoring by designated Monitoring and Evaluation Agents…
investment Local Nigerian Stock Market Gains N3.49 Trillion in Q1 2025 Amid Sectoral Performance Variations April 1, 2025 Ekemini The Nigerian Exchange (NGX) experienced a significant growth in market capitalization, gaining N3.49 trillion in the first quarter of 2025. The market value of all listed companies on the Exchange…
Finance Local Macroeconomic Nigeria’s Forex Inflows Reach $17bn Amid Economic Growth in Q4 2024 April 1, 2025 Ekemini Nigeria’s net foreign exchange (forex) inflows reached $17.39 billion in Q4 2024, marking a significant increase driven by strong autonomous inflows. These inflows were mainly propelled by foreign investments, remittances,…
International Macroeconomic Euro Zone Inflation Drops to 2.2% in March Amid U.S. Tariffs Concerns April 1, 2025 Ekemini Euro zone inflation eased to 2.2% in March, slightly below the 2.3% recorded in February, according to flash data from Eurostat. This dip in annual inflation marks a moderate decline,…
Finance International Macroeconomic Treasury Yields Drop Ahead of Trump’s Tariff Policy Rollout Amid Economic Uncertainty April 1, 2025 Ekemini On Tuesday, U.S. Treasury yields decreased as investors braced for the rollout of President Donald Trump’s tariff policy. The 10-year Treasury yield fell by 5 basis points to 4.194%, while…
International Technology OpenAI Expands Image Generator Access to All Free ChatGPT Users Amid High Demand and Funding Boost April 1, 2025 Ekemini OpenAI has made its advanced image-generation tool available to all ChatGPT users, including those on the free tier, expanding its reach beyond the previous paywall. CEO Sam Altman announced the…
International Technology OpenAI Secures $40 Billion in Record Funding, Valuation Soars to $300 Billion April 1, 2025 Ekemini OpenAI has successfully completed the largest private tech funding round in history, securing an impressive $40 billion, pushing its valuation to a staggering $300 billion. This positions the company among…
Local Technology Telecom Infrastructure Under Siege: Vandalism and Theft Disrupting Nigeria’s Network Services April 1, 2025 Ekemini Telecommunication infrastructure in Nigeria is facing persistent attacks, including fibre cuts, vandalism, and theft, disrupting the network stability for millions of subscribers. Despite being classified as Critical National Information Infrastructure…
International Macroeconomic China, Japan, and South Korea Strengthen Trade Ties Amid U.S. Tariff Threats April 1, 2025 Ekemini China, Japan, and South Korea have pledged to enhance regional trade cooperation as they prepare for the impact of U.S. tariffs, which are set to take effect on April 2.…
Finance investment Local Investment and Securities Act Passage Receives Widespread Praise, Set to Boost Nigeria’s Financial Market April 1, 2025 Ekemini The recent passage of the Investment and Securities Act (ISA) has garnered significant approval from key stakeholders in Nigeria’s financial sector. Market experts and industry leaders believe the new legislation…
Finance International Macroeconomic Global Markets Stabilize Ahead of Trump’s Tariff Announcement, Gold Hits Record High April 1, 2025 Ekemini Asian equities saw a modest rebound on April 1, following Wall Street’s gains the previous day, while gold surged to a record high. Investors were awaiting details of U.S. President…
Finance International Technology Financial Institutions in Africa Face Growing Cybercrime Threats, Summit to Address Security Challenges April 1, 2025 Ekemini Financial institutions in Africa are increasingly becoming prime targets of cybercrime, according to the organizers of the Banking, Financial Services, and Insurance (BFSI) Security Summit 2025. The event, set to…
Business Local Macroeconomic Surge in Personal Loans Amid Economic Pressures – CBN Report April 1, 2025 Ekemini In its Fourth Quarter 2024 Economic Report, the Central Bank of Nigeria (CBN) revealed that Nigerians secured N470 billion in personal loans from banks during the last quarter of 2024.…
Finance Local Macroeconomic Naira Depreciates by 2.5% in March Amid Flat External Reserves March 31, 2025 Ekemini In March 2025, the naira experienced a 2.5% depreciation against the US dollar in the official foreign exchange market. The Central Bank of Nigeria (CBN) data revealed that the naira…
International Technology Retym Raises $75 Million to Develop AI-Optimized Chips for Data Centers March 31, 2025 Ekemini Chip startup Retym has secured $75 million in funding as part of a larger $180 million investment to develop networking chips optimized for artificial intelligence (AI) computing in data centers.…
International Macroeconomic Russian Rouble Expected to Weaken Back to 100 to the US Dollar in a Year March 31, 2025 Ekemini A recent Reuters poll of 18 economists predicts that the Russian rouble will weaken to around 100 to the U.S. dollar within a year, despite a significant rally earlier this…
Business Economy Finance Local Nigeria’s External Debt Hits N66.14 Trillion in Q3 2024 Amid Growing Fiscal Pressures March 31, 2025 Ekemini In the third quarter of 2024, Nigeria’s external debt reached N66.14 trillion (approximately $43.03 billion), representing 23.14% of the nation’s GDP. This marks a 0.30% increase from the previous quarter…
Local Macroeconomic Nigerians Borrow N470 Billion in Personal Loans Amid Economic Pressures – CBN Report March 31, 2025 Ekemini The Central Bank of Nigeria (CBN) has disclosed that Nigerians took out a total of N470 billion in personal loans from banks during the last quarter of 2024. According to…
International Technology TikTok Removes 2.4 Million Nigerian Videos in Global Crackdown on Content Violations March 31, 2025 Ekemini In the fourth quarter of 2024, TikTok took down 2.4 million videos from Nigerian users due to policy violations, according to the company’s latest Community Guidelines Enforcement Report. Nigeria was…
Business International Technology Apple Hit with $162 Million Fine in France Over Ad Tracking Violations March 31, 2025 Ekemini Apple has been slapped with a €150 million ($162.42 million) fine by French antitrust regulators for allegedly abusing its power in the mobile app advertising space between 2021 and 2023.…
Business International Global Stocks Extend Losses Amid Deepening US Tariff Fears March 31, 2025 Ekemini Global stock markets continued their downward trajectory on Monday, as fears surrounding the impact of US tariffs weighed heavily on investor sentiment. With the S&P 500 futures indicating a 1%…
