UK Regulator Moves to Rein in Google’s Search Power with Strategic Market Status
The UK’s Competition and Markets Authority (CMA) announced plans to designate Google with “strategic market status” (SMS), aiming to gain…
Category: Business
Naira Holds Steady as CBN Injects $86.6m to Ease Dollar Shortage
The naira closed nearly unchanged on Monday in the official Nigerian Foreign Exchange Market (NFEM) after the Central Bank of…
Dollar Surge May Be Short-Lived Amid U.S.-Iran Tensions, Analysts Warn
The U.S. dollar saw a short-term boost in global markets early Monday following military strikes by the U.S. on Iran,…
Petrol Prices Surge Past ₦950/Litre in Nigeria Amid Global Tensions, Naira Slide
Petrol prices across Nigeria climbed steeply on Monday, with pump prices in major cities like Abuja and Lagos now ranging…
Nigeria Earns N70tn from Oil Exports Despite Weak Output and Sector Challenges
Nigeria has generated a substantial N70.1 trillion in oil export revenue over a 15-month period from January 2024 to March…
Absa Bank Ghana: Digital Integration Key to Market Access and SME Financing
Absa Bank Ghana has emphasized the importance of digital integration for business growth, financial inclusion, and market access. Speaking during…
NGX Opens Week Strong with N279bn Boost as Investor Sentiment Rises
The Nigerian Exchange Limited (NGX) started the week on a bullish trajectory, gaining N279 billion in market capitalization on Monday.…
SEC Tenure Rule Triggers Market Anxiety as Capital Operators Scramble for Clarity
The Securities and Exchange Commission (SEC) of Nigeria has introduced a new rule imposing tenure limits on directors of Capital…
European Markets Dip as U.S. Strikes Iran and Strait of Hormuz Closure Looms
Market Reactions to Middle East Escalation:European markets opened the week in the red as geopolitical tensions surged following the U.S.…
Domestic Investors Dominate NGX with N3.4tn in Trades Amid Rising Confidence
Domestic investors have emerged as the dominant force on the Nigerian Exchange Limited (NGX), driving a total of N3.41 trillion…
Offshore Investors Fuel Nigeria’s Bond Market Rally Ahead of DMO Auction
Foreign Portfolio Investors (FPIs) significantly increased their interest in Nigeria’s fixed income instruments last week ahead of the June 24…
SEC Ban on Dual Director Roles Wins Stakeholder Support Amid Corporate Governance Push
The Securities and Exchange Commission (SEC) of Nigeria has issued a new directive banning Independent Non-Executive Directors (INEDs) from assuming…
Bank of Ghana to Overhaul Reference Rate in Drive for 10% Lending Target
The Bank of Ghana (BoG) has announced a major reform targeting the Ghana Reference Rate (GRR) as part of efforts…
REA and FCMB Launch ₦100 Billion Renewable Energy Fund to Power Two Million Nigerian Homes
In a strategic move to expand electricity access across Nigeria, the Rural Electrification Agency (REA) and First City Monument Bank…
CBN’s 50% CRR Policy Sparks Liquidity Crisis, Threatens Nigeria’s $1tn Economic Goal
Nigeria’s banking sector is facing a serious liquidity challenge following the Central Bank of Nigeria’s (CBN) decision to impose a…
Global investment decline may worsen due to tariffs, UN trade agency warns
Global foreign direct investment (FDI) declined for the second year in a row in 2024, and projections for 2025 indicate…
Dangote Refinery Set to Export First Petrol Cargo to Asia, Signaling Global Expansion
The Dangote Petroleum Refinery, Africa’s largest oil refining facility, is preparing for its first gasoline export beyond Africa, with a…
EU Court Adviser Backs €4.1 Billion Antitrust Fine Against Google Over Android Dominance
Alphabet’s Google is facing a significant legal challenge in Europe as a top adviser to the European Union’s highest court…
Geopolitical Tensions and Central Bank Decisions Keep Global Markets on Edge
Global financial markets remain cautious as geopolitical uncertainty surrounding potential U.S. military action in the Middle East collides with a…
Experts Urge African Organisations to Embrace Digital Transformation for Economic Growth
Organisations and government agencies across Africa have been strongly encouraged to prioritise digital transformation as a critical strategy for innovation,…
Nigerian Stock Market Rebounds as Access, FCMB, and Fidelity Bank Assure CBN Compliance
The Nigerian stock market saw a significant rebound after major banks including Access Holdings, FCMB Group, and Fidelity Bank reassured…
CBN Halts Banks’ Foreign Investments, Dividends & Bonuses Amid Market Activity Surge
In a directive issued on June 13, 2025, the Central Bank of Nigeria (CBN) announced a temporary suspension on dividend…
Ghana’s Producer Inflation Falls to 10.2% in May 2025: Lowest Since 2023 Amid Sector-Wide Deflation
Ghana’s producer price inflation (PPI) dropped sharply to 10.2% in May 2025 from 18.5% in April, marking the lowest rate…
Equity Market Soars as Oil, Insurance Stocks Drive N1.18tn Rally
The Nigerian Exchange (NGX) witnessed a robust performance on Wednesday, marking a major rebound with the market capitalisation surging by…
Intel Bolsters Leadership with Key Engineering Hires Under CEO Tan’s Turnaround Strategy
Intel has announced the hiring of three prominent executives from the chip industry as part of CEO Lip-Bu Tan’s ongoing…
CBN Introduces Targeted Measures for Select Banks Amid Sector Reform
The Central Bank of Nigeria (CBN) has issued new transitional guidelines targeted at a select number of banks as part…
USSD Now Costs ₦6.98 per 2 Minutes as Direct User Billing Begins Nationwide
Starting June 18, 2025, Nigerians using USSD codes for mobile banking and other digital transactions will now pay ₦6.98 for…
CBN Sells N7.9 Trillion in Treasury Bills, Rejects N12.2 Trillion in Bids Amid Surging Investor Demand
In a move reflecting rising investor appetite for naira-denominated assets amid persistent inflation, the Central Bank of Nigeria (CBN) sold…
NGX Sheds N183bn as Blue-Chip Stocks Tumble Amid Bearish Sentiment
The Nigerian Exchange Limited (NGX) suffered a significant blow on Tuesday, losing N183 billion in market value as bearish sentiment…
Elon Musk’s xAI Nears $5 Billion Debt Raise Despite Tepid Investor Interest
Elon Musk’s artificial intelligence startup, xAI, is on course to secure $5 billion in fresh debt financing led by Morgan…