Nigerian Stock Market Loses N599bn as Sell-Off Hits Nestlé, First Holdco, NGX Stocks
The Nigerian stock market returned to negative territory on Wednesday after investors wiped out N599 billion in market value through…
Month: August 2026
Lekki Port Boosts Global Trade as MSC Launches Weekly Shipping Service
Lekki Port has taken another major step toward strengthening Nigeria’s international trade network with the arrival of the Mediterranean Shipping…
African Alliance submits recapitalisation plan to NAICOM after handover
African Alliance Insurance Plc has confirmed that it has officially submitted its recapitalisation plan to the National Insurance Commission (NAICOM),…
Nairobi Securities Exchange Tops KSh4 Trillion as Safaricom, Banks Fuel Historic Market Surge
The Nairobi Securities Exchange (NSE) has reached a historic milestone, surpassing KSh4 trillion in total market capitalization for the first…
Afreximbank Loans US$190 million to Zimbabwe’s CBZ Bank
The African Export-Import Bank (Afreximbank) has strengthened its commitment to Zimbabwe’s economic growth by approving financing facilities worth $190 million…
CBK Set to Hold Interest Rates Steady as Inflation Eases and Economic Growth Slows
The Central Bank of Kenya (CBK) is widely expected to maintain its benchmark interest rate at its August 2026 Monetary…
Dangote eyes $5bn IPO to finance refinery expansion
Africa’s richest businessman, Aliko Dangote, is preparing for what could become the continent’s largest stock market listing as Dangote Petroleum…
CBN says naira FX gap falls below 2% as reserves top $52.5 billion
The Central Bank of Nigeria (CBN) has announced that its monetary and foreign exchange reforms are beginning to deliver measurable…
World Bank: AI Adoption Among Nigerian Firms Up 40%
Nigeria has emerged as one of Africa’s fastest-growing artificial intelligence markets after the World Bank revealed that AI adoption among…
Nigerian Stock Market Loses N599 Billion as Nestlé, First HoldCo Lead Massive Sell-Off
The Nigerian stock market suffered a major setback on Tuesday, wiping out approximately N599 billion in market value as investors…
SpaceX Revenue Soars 92% as Starlink and AI Deals Drive Record Growth
SpaceX has reported a remarkable financial performance in its first quarterly earnings since becoming a publicly traded company, with revenue…
Nigeria’s $4.5bn Oil-Backed Loan Refinancing Set to Boost Naira, Strengthen Foreign Reserves
Nigeria’s efforts to stabilize the naira have received a major boost after the National Economic Council (NEC) approved the refinancing…
Oil Prices Slide Below $80 as Hopes for US-Iran Deal Boost Market Confidence
Global oil prices suffered a sharp decline on Tuesday, with Brent crude falling below the $80-per-barrel mark for the first…
CBN Cuts Government Financing as Assets Surge Above N138 Trillion in Push for Economic Stability
The Central Bank of Nigeria (CBN) has taken another major step toward strengthening the country’s economy by reducing its financial…
Cheaper Latin American Crude Puts Nigeria’s European Oil Market at Risk
Nigeria’s long-standing position as one of Europe’s preferred crude oil suppliers is facing increasing pressure as cheaper crude from Brazil…
TotalEnergies Takes Nigeria to Court Over $554 Million Petroleum Tax Dispute
French energy giant TotalEnergies has taken fresh legal action against Nigeria’s tax authorities and the Nigerian National Petroleum Company (NNPC),…
Germany’s Energy Demand Drops as Soaring Fuel Prices Slash Oil Consumption
Germany’s energy demand declined by 1.9% during the first half of 2026, as soaring oil and gas prices forced consumers…
FRC to convene audit summit on AI, financial reporting
The Financial Reporting Council of Nigeria (FRC) is set to bring together some of the country’s leading financial experts, regulators,…
Apple Finally Fixes Siri, But the AI Upgrade Arrives After the Hype
Apple has finally delivered the Siri experience iPhone users have been waiting years for. After multiple delays, the new AI-powered…
Local investors trade N17.7 trillion stocks in 18 months
Nigeria’s capital market is increasingly being driven by homegrown investors, with domestic participants accounting for N17.7 trillion worth of stock…
Stock futures edge higher after rip-roaring rally leads Dow to record closing high
The U.S. stock market opened Tuesday with renewed optimism after the Dow Jones Industrial Average closed at an all-time high…
Nigerian Stock Market Starts August Strong with N289bn Gain as Investor Confidence Rebounds
The Nigerian stock market kicked off August 2026 on a positive note, delivering an impressive N289 billion gain in market…
DMO Launches August Savings Bonds With Returns of Nearly 15% for Nigerian Investors
The Debt Management Office (DMO) has opened subscriptions for its August 2026 Federal Government Savings Bond programme, offering Nigerians an…
NRS makes Tax ID mandatory for new crypto account activations
The Nigeria Revenue Service (NRS) has introduced a major policy change that will reshape how Nigerians access cryptocurrency platforms. Under…
Nigeria’s purchase cost inflation hits five-month low as PMI stays above 52
Nigeria’s private sector remained on a growth path in July, with businesses benefiting from stronger customer demand even as the…
NNPC Profit Drops 35% in H1 2026 Despite Strong June Recovery as Revenue Climbs
Nigeria’s state-owned oil giant, NNPC Limited, posted a profit after tax of N2.28 trillion for the first half of 2026,…
Banks’ Deposits at CBN Surge 670% to N83.95 Trillion as Borrowing Plunges
Nigeria’s banking sector witnessed a significant shift in liquidity management as commercial banks dramatically increased their deposits with the Central…
Bank of America sharpens focus on Africa after key role in Dangote refinery placement
Bank of America is strengthening its commitment to Africa with a major leadership reshuffle aimed at expanding its corporate and…
Cheaper Latin American Oil Puts Nigeria’s European Crude Market at Risk
Nigeria’s long-standing dominance in Europe’s crude oil market is coming under increasing pressure as cheaper oil supplies from Brazil and…
Nigeria Introduces New Crypto Tax Rules as Exchanges Risk ₦10 Million Fine for Non-Compliance
The Federal Government has taken a major step toward regulating Nigeria’s fast-growing cryptocurrency industry with the introduction of new tax…