Foreign trade payment rises to $267.96m – CBN
Nigeria’s foreign trade payments through Letters of Credit (LCs) increased by 3.68 percent year-on-year to $267.96 million in the first…
Year: 2025
Trump Postpones EU Tariffs, Markets Rally as Trade Talks Resume
U.S. President Donald Trump has delayed the imposition of threatened 50% tariffs on European Union imports until July 9, giving…
BoG Mandates Banks to Hold Reserves in Original Deposit Currencies from June_Ghana
Starting June 5, 2025, commercial banks in Ghana will be required to maintain their cash reserves in the same currency…
NGX Turnover Surges to N74.8bn Despite ASI Dip and Mixed Sectoral Performance
The Nigerian Exchange (NGX) witnessed a strong rise in market activity last week, with turnover climbing by 17.3 per cent…
Tinubu at Two: Energy Sector Grapples with Persistent Challenges Amid Modest Progress
As President Bola Tinubu’s administration marks its two-year anniversary, Nigeria’s energy sector remains deeply entangled in both domestic and international…
AGI Expects Policy Rate Cut as Economic Conditions Improve
The Association of Ghana Industries (AGI) is anticipating a reduction in Ghana’s policy rate, ahead of the Bank of Ghana’s…
Nigeria Commits $1 Billion to Transform Telecom Infrastructure by Q3 2025
Nigeria is embarking on a significant overhaul of its telecommunications sector, with a $1 billion investment in new network equipment…
CBN Holds Interest Rate to Curb Inflation, Spur Growth Amid Fragile Economic Gains
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to maintain the benchmark interest rate…
CBN Nets N615.8bn as Treasury Bill Demand Surges Despite Fiscal Strains
In its latest Treasury bills auction on May 21, 2025, the Central Bank of Nigeria (CBN) raised N615.8 billion, surpassing…
Lagos State to Launch AI Guidelines, Advocate Ethical Investment in $20 Trillion Industry
The Lagos State government has announced plans to release its first set of Artificial Intelligence (AI) guidelines, aiming to foster…
BREAKING: Otedola Invests N320bn in First Bank, Cites Tinubu and Cardoso’s Reforms as Key Drivers
Billionaire investor and Chairman of First Holdco Plc, Femi Otedola, has announced a landmark N320 billion personal investment in First…
U.S. Markets Waver as Trump’s Tax Bill Raises Debt Fears
U.S. stock futures held steady Thursday morning after a sharp market decline the day before, as concerns over President Donald…
Manufacturers, LCCI Clash Over CBN’s 27.5% Interest Rate Policy
The Central Bank of Nigeria’s (CBN) decision to maintain the Monetary Policy Rate (MPR) at 27.5 percent since November 2024…
Telcos battle 33 outages in May
Nigeria’s telecommunications industry experienced 33 major network outages in May 2025, significantly disrupting services across the country. According to data…
With 47.73% Spread, Nigeria Still Far from Attaining 70% Broadband Penetration Target
Despite bold projections by the Nigerian Communications Commission (NCC) to surpass 70% broadband penetration by the end of 2025, recent…
CBN Unveils Draft Standards for Automated AML/CFT Systems to Strengthen Financial Oversight
In a major step toward enhancing Nigeria’s financial security, the Central Bank of Nigeria (CBN) has released a draft document…
UK 3.5% inflation surge deepens financial pressure on Nigerians abroad
Nigerians living in the United Kingdom are facing renewed financial challenges following a sharp rise in UK inflation, which jumped…
Dangote: 52 Kobo of Every Naira in Local Investment Goes to Federal Government
At the 2025 Taraba International Investment Summit (TARAVEST) held in Jalingo, the Chairman of Dangote Group, Alhaji Aliko Dangote, emphasized…
JPMorgan’s Jamie Dimon Warns of Rising U.S. Stagflation Risks Amid Economic Uncertainty
JPMorgan Chase CEO Jamie Dimon has cautioned that the U.S. economy could face the risk of stagflation, a troubling mix…
OpenAI Acquires Jony Ive’s AI Device Startup in $6.5 Billion Deal to Launch Next-Gen Hardware
OpenAI has announced the acquisition of io Products, a hardware startup founded by former Apple design chief Jony Ive, in…
BoG Overhauls Monetary Policy to Spur Growth and Control Inflation-GHANA
The Bank of Ghana (BoG) has initiated a major review of its monetary policy framework, aiming to adopt more dynamic…
Producer Price Inflation in Ghana Drops to 18.5% in April, Signaling Easing Cost Pressures
Ghana’s Producer Price Inflation (PPI) saw a notable drop in April 2025, falling to 18.5% from 24.4% in March, according…
Bitcoin Hits Record High Amid Improving Market Sentiment and Institutional Support
Bitcoin soared to an all-time high on Wednesday, surpassing January’s peak as investor confidence rebounded after last month’s market volatility…
Nigerian Stock Market Sheds N70 Billion Amid Sell Pressure in 27 Stocks
The Nigerian stock market experienced a downturn on Wednesday, with market capitalisation dropping by N70 billion. This decline was attributed…
Nigeria’s Low GDP Per Capita Hinders Prosperity, Urgent Growth Needed — World Bank
Nigeria’s economic output per person remains critically low, placing the country 146th out of 191 globally, according to the World…
Nigeria’s Debt Service Soars 49% Amid Mounting Fiscal Pressures
Nigeria’s debt service payments surged by 49.2% year-on-year in the first four months of 2025, reaching $2.01 billion, up from…
Naira Strengthens Across Markets, Hits N1,615/$ in Parallel Market
The Nigerian naira appreciated on Wednesday in both the parallel and official foreign exchange markets. In the parallel market, the…
NGX Loses N70bn as Market Reverses Gains Amid Mixed Investor Sentiment
The Nigerian Exchange (NGX) ended Wednesday’s trading session on a negative note, reversing the gains recorded a day earlier. Investors…
Africa’s Digital Surge Sparks Urgent Demand for AI and Cybersecurity Talent – SAP Report
A new SAP report has revealed that Africa’s fast-growing digital economy is fueling an unprecedented demand for artificial intelligence (AI)…
BREAKING:Petrol Prices Surge by 76.73% Year-on-Year in April 2025 Despite Monthly Dip – NBS
In April 2025, the average retail price of Premium Motor Spirit (PMS), or petrol, soared to N1,239.33 per litre, marking…