The Nigeria Customs Service (NCS) has announced the full integration of all commercial banks for Form ‘M’ openings, a significant step in improving Nigeria’s trade facilitation processes. This move is part of the broader strategy to modernize customs operations and streamline trade documentation. The integration will simplify the process for traders, improve efficiency, and ensure […]
Year: 2025
GIPC CEO Calls for Diversification of Foreign Direct Investment in Ghana
The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has advocated for diversifying Foreign Direct Investment (FDI) in Ghana beyond the country’s traditionally strong sectors like gold and oil. Speaking in an interview on Channel One TV’s The Point of View with Bernard Avle, Mr. Madjie emphasized the need to expand […]
Selling Price Inflation Eases in Nigeria, Business Activity Accelerates in February
Nigeria’s selling price inflation slowed to a seven-month low in February, according to the latest Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) report. Despite persistent inflationary pressures, the rate of price increases moderated, offering relief to both businesses and consumers. This shift coincided with a significant rise in business activity, which grew at its […]
CBN Strengthens Nigeria’s Financial System with Strategic Policy Recalibration
The Central Bank of Nigeria (CBN), under the leadership of Governor Olayemi Cardoso, is recalibrating its monetary policy tools to enhance the nation’s financial system’s resilience amid evolving economic challenges. Cardoso emphasized that the focus on strengthening liquidity management, stability, and investor confidence would safeguard Nigeria’s financial ecosystem. The CBN aims to raise regulatory standards […]
Nigeria and UK Strengthen Trade Relations with National Quality Policy to Drive Economic Growth
Nigeria and the United Kingdom have reinforced their commitment to enhancing bilateral trade and economic growth through the implementation of Nigeria’s National Quality Policy (NNQP). This initiative is part of the Standards Partnership Programme (SPP) – Phase II, which aims to address technical trade barriers, improve regulatory standards, and boost Nigeria’s export competitiveness. Launched in […]
China to Launch Policy Supporting Nationwide RISC-V Chip Adoption
China is set to issue a policy to promote the use of open-source RISC-V chip technology nationwide, aiming to reduce its reliance on Western-owned tech. This initiative, expected to be released as early as this month, is being developed by multiple government bodies, including the Cyberspace Administration of China and the Ministry of Industry and […]
Etranzact Ghana Named ‘Fintech Company of the Year’ at 2025 Ghana Fintech Awards
Etranzact Ghana, a leader in payment technology services, was awarded the prestigious ‘Fintech Company of the Year’ title at the 4th Ghana Fintech Awards held on March 1, 2025, at the Labadi Beach Hotel in Accra. The event, organized by the Ghana FinTech and Payments Association in partnership with Arkel Limited, recognizes excellence in Ghana’s […]
Nigerian Money Market Liquidity Rebounds in February, Likely to Sustain Bullish Trend
In February 2025, the Nigerian money market witnessed a notable improvement in system liquidity, reaching N572.8 billion, compared to a deficit of N307.5 billion recorded in January. This rebound was primarily driven by N2.9 trillion in primary market repayments and liquidity injections. Additionally, open market operations (OMO) repayments of N823.3 billion and standing lending facility […]
U.S. Consulate Partners to Empower 120 Nigerian Technicians for Economic Growth
The U.S. Consulate General Lagos has collaborated with the Field of Skills and Dreams VTE Academy to launch the Emerging Technicians Conference, an initiative aimed at equipping young Nigerian technicians with the skills necessary to succeed in their trades and build sustainable businesses. The program focuses on a diverse group of 120 technicians from fields […]
Stock Market Begins March on a Negative Note, Drops by 0.34%
The Nigerian stock market opened March 2025 on a downturn, as investors engaged in profit-taking across various stocks, including NASCON Allied Industries Plc. The market saw a 0.34% decline, with the Nigerian Exchange Limited All-Share Index (NGX ASI) falling by 366.26 basis points, closing at 107,455.13 points. Despite this, the market capitalization rose by N95 […]
CBN Enhances Oversight to Safeguard Nigeria’s Financial System
The Central Bank of Nigeria (CBN) is intensifying efforts to ensure a transparent and resilient financial system by strengthening regulatory compliance and risk management in Nigerian financial institutions. This move aims to bolster confidence in the country’s financial sector, particularly through the adherence to global banking standards. At a high-level Mandatory Compliance and Anti-Money Laundering […]
Nigeria’s Key Economic Sectors Stagnant, Urgent Reforms Needed for Growth – Economist
Nigeria’s economy has been facing significant challenges, with key sectors that are crucial for its economic growth remaining stagnant or declining. Professor Bongo Adi, a renowned economist from the Lagos Business School, highlighted this issue in a keynote address at the FATE Foundation’s Annual General Meeting. He noted that while the economy has shown some […]
Nigeria Plans $122 Billion Investment to Diversify Energy Sources and Enhance Grid Stability
The Federal Government of Nigeria has unveiled a plan to secure $122.2 billion in investments aimed at diversifying the country’s energy sources and enhancing the stability of its energy infrastructure. This 21-year plan, set to run from 2024 to 2045, focuses on reducing Nigeria’s reliance on traditional energy sources, such as gas-fired thermal and hydropower […]
Lutnick Proposes Excluding Government Spending from GDP
U.S. Commerce Secretary Howard Lutnick recently announced plans to remove government spending from the GDP report, aiming to make it more transparent. Lutnick criticized the historical practice of including government spending as part of GDP, describing it as distorting the economic picture. He emphasized the need to separate these two components, suggesting that government spending, […]
Nigeria’s Real Estate Sector Becomes the Third Largest Contributor to GDP
Nigeria’s real estate sector has gained significant attention as it emerged as the third largest contributor to the country’s GDP following the rebasing of its economic data. Valued at $2.14 trillion by the end of 2024, the sector experienced a 7.24% growth compared to the previous year, with projections indicating continued growth to $2.61 trillion […]
European Markets Choppy as Defense Stocks Surge; Thales and BAE Systems See Significant Gains
European markets experienced volatility on Monday, as defense stocks surged following high-level discussions among regional leaders about increasing military spending. The Stoxx 600 index fluctuated between gains and losses, eventually closing 0.13% higher. This modest movement was overshadowed by a 5.8% rise in the Stoxx Europe aerospace and defense index, which was on track for […]
Ten Stockbrokers Trade Over N601 Billion on NGX in First Two Months of 2025
In the first two months of 2025, ten stockbrokers on the Nigerian Exchange Limited (NGX) facilitated transactions totaling N601.078 billion, accounting for over half of the exchange’s trade value. Cardinalstone Securities led the pack with N154.822 billion in transactions, representing 13.83% of the total value. APT Securities & Funds and Stanbic IBTC Stockbrokers followed with […]
Ghana’s T-Bill Rates Plummet to New Lows: What’s Next for Investors?
On February 28, 2025, treasury bill rates saw a remarkable drop, marking one of the most significant declines in decades. Auction results from the Bank of Ghana revealed that rates, which were between 28% and 30% at the start of the year, have now fallen to a range of 20% to 22%. The steep drop […]
NGX Group Sees 157.3% Surge in Profit, Reaches Record N13.6 Billion for 2024
NGX Group has reported a significant profit before tax (PBT) of N13.6 billion for the year ending 31 December 2024, marking a remarkable 157.3% increase compared to N5.27 billion in 2023. This growth is attributed to a combination of strategic cost optimisation, increased market participation, and robust revenue growth. The group’s gross earnings surged by […]
Bitcoin Rallies Over 20% After Trump Announces Strategic Crypto Reserve
Bitcoin surged over 20% from last week’s lows after U.S. President Donald Trump announced plans to include cryptocurrencies like Bitcoin, Ether, XRP, Solana, and Cardano in a new strategic reserve. Trump’s declaration, made through a post on Truth Social, revealed that Bitcoin and Ether would be at the core of this reserve. This move sent […]
CBN Enhances Financial Oversight to Strengthen Compliance with Global Banking Standards
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to reinforcing the nation’s financial sector by enhancing regulatory oversight, risk management, and compliance with international banking standards. The apex bank is actively taking steps to prevent financial crimes, ensure transparency, and maintain public confidence in the Nigerian banking system. CBN’s Special Adviser on Compliance, […]
South Africa Fines Google R500 Million and Investigates Tech Giants Over Advertising Imbalance
South Africa’s Competition Commission has launched an investigation into major tech companies, including Google, X, and Meta, for their role in the imbalance of advertising revenue within the country’s digital media market. As part of the investigation, Google has been fined between R300 million and R500 million annually for five years, a provisional measure to […]
Strategies for Staying Authentically Informed in the Digital Age
Staying informed as a citizen in the digital age has become increasingly complex due to the abundance of information, misinformation, and social media influence. In this environment, citizens must adopt strategies to navigate the overwhelming flow of data and ensure they are well-informed. Key strategies include verifying sources, diversifying news consumption, and practicing media literacy. […]
Google Launches Free AI Coding Assistant for Nigerian Developers
Google has launched a new AI-powered coding assistant called Gemini Code Assist, offering a free version to developers in Nigeria. This tool, based on Google’s Gemini 2.0 model, supports all programming languages and is designed to optimize coding tasks. The initiative aims to make advanced AI tools accessible to independent developers, students, and startups who […]
Elumelu Pledges Support for Gabon’s Infrastructure Development and Youth Empowerment
Tony Elumelu, the Group Chairman of United Bank for Africa (UBA) and founder of the Tony Elumelu Foundation (TEF), reaffirmed his commitment to supporting Gabon’s economic development following a meeting with President Brice Oligui Nguema in Libreville. During the high-level discussions, the leaders focused on strategies to improve the country’s infrastructure and promote entrepreneurship. Elumelu […]
Banking Sector Outperforms with 7.76% YtD Gain as Recapitalisation Efforts Gain Momentum
In 2025, the Nigerian banking sector has emerged as a standout performer on the Nigerian Exchange Limited (NGX), with the NGX Banking Index gaining 7.76% Year-to-Date (YtD). This growth follows the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred demand for bank stocks. The index outperformed the broader NGX All-Share Index, which recorded […]
Exchange Rate and Inflation: Fixing the fundamentals first
In many developing economies, exchange rate fluctuations serve as the main driver of inflation. In Nigeria, the value of the naira has a significant impact on the cost of goods and services. When the naira depreciates, the cost of imports rises, leading to an overall increase in prices. Unlike in developed countries where inflation is […]
India’s Trade Minister Piyush Goyal Heads to the U.S. for Crucial Trade Talks Amid Looming Tariffs
India’s trade minister, Piyush Goyal, embarked on a trip to the United States on Monday for urgent trade talks, with looming tariffs from former President Donald Trump expected to take effect soon. Goyal’s visit comes after a sudden change of plans, canceling previously scheduled meetings until March 8. This trip signals India’s proactive approach to […]
Nigerian Stock Market Suffers N421bn Loss Amid Bearish Trends
The Nigerian Exchange experienced a significant downturn last week, with the market losing N421bn. The All-Share Index (ASI) dropped by 0.62%, closing at 107,821.39 points, as a sustained bearish sentiment continued to dominate trading. Investor activity slowed down, with a total of 1.85bn shares worth N51.39bn traded, a decrease compared to the previous week’s 2bn […]
Naira Ends February Strong, Defying Pressure with Gains in Parallel Market
The Nigerian naira ended February 2025 with notable fluctuations in its performance across both the parallel and official markets. The currency saw an 8.5% month-on-month gain in the parallel market, closing at N1,490/$, while in the official market, it depreciated by 1.7%, settling at N1,500/$. Despite pressure from various economic factors, the naira showed resilience. […]