Naira Appreciates to Seven-Month High, Gains N63 Against Dollar
Nigeria’s exchange rate strengthened significantly in January 2025, appreciating by N63.72 to close at N1,474.78 per dollar on January 31,…
Year: 2025
Uganda’s Shs330b locked up in tax disputes
A recent report on the Tax Appeals Tribunal’s effectiveness has revealed some concerning statistics. Between June 2022 and June 2024,…
Decentralise PPPs to unlock Ghana’s devt — Former boss
Engineer Philip Lartey, former Head of Public Private Partnerships (PPP) at the Ministry of Roads and Highways, has advocated for…
Bernice Makafui Brempong replaces Yofi Grant as GIPC CEO
The Ghana Investment Promotion Centre (GIPC) has announced the appointment of Dr. Bernice Makafui Brempong as its new Chief Executive…
Ghana secures $2.8bn debt relief as official creditors sign MoU
Ghana has successfully secured $2.8 billion in debt relief after all 25 members of its Official Creditor Committee (OCC) signed…
DMO announces results of January 2025 FGN bond auction, raises N669.94 billion
The Debt Management Office (DMO) of Nigeria announced the successful completion of its January 2025 Federal Government Bond Auction, raising…
Aradel reports N321.6 billion pre-tax profits, up 187% YoY
Aradel Holdings Plc posted an impressive N321.6 billion profit before tax for the 2024 financial year, marking a 187% increase…
FG launches framework to attract direct investment
The Federal Government of Nigeria has launched the Regulatory Impact Analysis (RIA) Framework to enhance the business environment and attract…
Nigeria’s Electronic Transactions Surge to N1.08 Quadrillion in 2024, Up 79%
Nigeria’s electronic payment ecosystem experienced remarkable growth in 2024, with transactions reaching an all-time high of N1.08 quadrillion. This marks…
Unilever posts N4.9bn profit
Unilever Nigeria Plc posted a profit of N4.9bn for the fourth quarter of 2024, reflecting a 29% decline from the…
TotalEnergies records N1.04tn revenue
TotalEnergies Marketing Nigeria Plc has posted impressive financial results for the year ending December 31, 2024, reporting a significant revenue…
Nigeria Joins International Port Community System Association to Enhance Maritime Operations
The Nigerian Ports Authority (NPA) has announced that Nigeria has been admitted as a member of the International Port Community…
Sustainable Capital Acquires 9.96% Stake in Seplat Energy, Strengthening Influence
Sustainable Capital Ltd, a Mauritius-based investment firm, has secured a 9.96% stake in Seplat Energy Plc, gaining voting rights in…
Zuck shrugs off DeepSeek, vows to spend hundreds of billions on AI
Meta’s stock may have remained unaffected by speculation surrounding DeepSeek’s AI models, which sent Nvidia’s shares plummeting by nearly 20%.…
Crypto exchange Crypto.com to delist Tether’s USDT,9 others in Europe by Jan. 3
Cryptocurrency exchange Crypto.com has announced plans to delist Tether’s USDT and nine other tokens in Europe by January 31, 2025.…
ABCON Calls For BDCs’ Merger Ahead Of June Recapitalisation Deadline
The Association of Bureau De Change Operators of Nigeria (ABCON) has called on Bureau de Change (BDC) operators to consider…
FG secures $1.1bn AfDB loan to power 5m people by 2026 — Tinubu
The Federal Government of Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to provide electricity…
Market integrity: NGX RegCo, EFCC deepen collaboration
NGX Regulation Limited (NGX RegCo) and the Economic and Financial Crimes Commission (EFCC) have agreed to enhance their collaboration to…
Naira Sustains Gain On Parallel Market, Weakens To N1,534/$1 On NEFM
The naira saw a continued appreciation in the parallel market for the second consecutive day, rising by N10 to reach…
Demand for Aradel Holdings, 25 Others Lift Stock Market by N365bn
Aggressive investor demand for Aradel Holdings Plc and 25 other companies boosted the Nigerian stock market by N365 billion. The…
US Stock Market Faces Uncertainty Amid Tech Struggles and Fed Policy Concerns
The U.S. stock market is facing increasing risks, with cracks appearing in the technology sector and uncertainty surrounding future interest…
Rising Imports and Trade Deficit Slow U.S. Economic Growth in Q4
The U.S. economy likely grew at a slower pace in the fourth quarter of 2024, with GDP estimated to have…
Nigerian Banks Lead Investment Drive Towards $1 Trillion Economy Goal
President Bola Tinubu has reaffirmed his administration’s commitment to achieving a $1 trillion economy by 2026, leveraging a combination of…
Microsoft shares slide as cloud forecast, AI spending disappoint
Microsoft’s stock fell 4.5% in after-hours trading after the company forecasted lower-than-expected growth for its cloud computing business, Azure. Despite…
Microsoft shares slide on cloud outlook; Meta up after Q4 beat
Microsoft’s shares dropped by 4.5% in Europe, following a weak forecast for its cloud business. This decline mirrored a similar…
CBN nears completion of $2.4bn FX backlog verification, payments to begin soon
The Central Bank of Nigeria (CBN) is finalizing the verification process for the remaining $2.4 billion foreign exchange (FX) backlog,…
Cashless economy deepens as electronic transactions hit N1.08qd
Nigeria’s electronic transactions surged by 79% in 2024, reaching a record N1.08 quadrillion, according to data from the Nigeria Inter-Bank…
Equity market reverses loss, investors gain N364bn
The Nigerian Stock Exchange saw a reversal in market losses on Tuesday, with investors gaining N364bn as the All-Share Index…
NECA Applauds CBN’s FX Code, Calls for Effective Implementation
The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for introducing the Nigerian Foreign Exchange…
Four FCMB customers win N1m each
First City Monument Bank (FCMB) has rewarded four customers with N1 million each in the first draw of its Millionaire…