Nigeria Imports N1.2tn Worth of Crude Despite Being Africa’s Top Oil Producer
Nigeria, despite being Africa’s largest oil producer, imported crude oil worth N1.19 trillion in the first quarter of 2025 due…
Category: Business
FCMB Reassures Shareholders of Dividends Amid CBN’s New Banking Restrictions
FCMB Group Plc has moved to allay shareholder concerns following a new directive from the Central Bank of Nigeria (CBN),…
CBN Dividend Suspension Triggers Sharp Decline in Banking Stocks
The Nigerian banking sector faced a significant downturn following the Central Bank of Nigeria’s (CBN) recent directive halting dividend and…
Edun, Cardoso Strategize as Nigeria’s Inflation Drops to 22.97%
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, met with Central Bank Governor Yemi Cardoso on…
Cedi Gains Offer Little Relief Without Inflation Tamed, Says Blue Skies Founder-Ghana
Anthony Pile, founder of leading fruit exporter Blue Skies Company Ltd., has raised concerns that Ghana’s recent cedi appreciation, while…
CBN Dividend Ban Triggers Sharp Decline in Bank Stocks on NGX
Bank stocks on the Nigerian Exchange (NGX) suffered significant losses on Monday, June 16, 2025, after the Central Bank of…
Israel-Iran Conflict Threatens Nigerian Economy with Investment Risks and Rising Interest Rates – CPPE
The Centre for the Promotion of Private Enterprise (CPPE) has warned that the escalating conflict between Israel and Iran poses…
OpenAI Considers Antitrust Action Against Microsoft Amid Partnership Tensions
OpenAI executives are weighing whether to accuse Microsoft, their largest investor, of anticompetitive practices, according to a report by the…
Nigerian Breweries Bounces Back: Q1 2025 Profits Signal Strong Recovery, Spark Investor Optimism
Nigerian Breweries Plc has earned praise from financial stakeholders following its impressive Q1 2025 financial results, which mark a strong…
CBN Crackdown on Forbearance Exposes FirstHoldco, Others to Billions in Loan Risks
The Central Bank of Nigeria (CBN) has taken a firm stance by reverting to orthodox monetary policy, enforcing stricter regulations…
U.S. Backs Investment Push in Lagos Free Zone, Eyes Stronger Economic Ties with Nigeria
The United States has reaffirmed its commitment to supporting foreign direct investment in Nigeria, particularly in the Lagos Free Zone…
SEC Charts Path for Cross-Border Trade with Naira-Backed Stablecoin Framework
The Securities and Exchange Commission (SEC) of Nigeria has unveiled plans to develop a regulatory framework for stablecoins, aiming to…
CBN’s $4.01bn Forbearance Loans Under Review as Nigeria Plans Gradual Phase-Out
A new report by Renaissance Capital Africa has revealed that the Central Bank of Nigeria (CBN) extended a total of…
NGX, SEC Strengthen Ties with China to Boost Cross-Border Capital Market Investments
The Nigerian Exchange Group (NGX) and the Securities and Exchange Commission (SEC) are intensifying efforts to position Nigeria as a…
Blue Skies Ltd Urges Government Crackdown on Illegal Sand Winning Threatening Agribusiness-Ghana
Anthony Pile, the founder of Blue Skies Ltd, a leading agribusiness exporter in Ghana, has called on the government to…
Microsoft Commits to Keeping European Cloud Data Within EU Borders
Microsoft has announced a comprehensive plan to protect the data of its European cloud customers by ensuring all data remains…
Nigerian Equities Gain N513bn in 3-Day Trading Amid Bullish Investor Sentiment
Despite a shortened trading week due to public holidays marking Eid-el-Kabir and Democracy Day, the Nigerian equities market recorded a…
Ibukun Awosika Unveils African Marketplace Dubai 2025 to Boost Global Trade for African, Caribbean SMEs
In a bold move to showcase Africa and the Caribbean’s finest export-ready businesses, Ibukun Awosika has announced the launch of…
Nigeria’s Crude Export Earnings Drop to N12.96tn Amid Refining Setbacks and Production Decline
Nigeria’s crude oil export earnings fell to N12.96 trillion in the first quarter of 2025, representing a 16.34% year-on-year drop…
Meta Appoints Arun Srinivas as India Head Amid Regulatory Scrutiny
Meta Platforms has named Arun Srinivas as its new Managing Director and Head for India, with the appointment taking effect…
CBN Halts Dividends for Banks Under Forbearance to Strengthen Capital Base
The Central Bank of Nigeria (CBN) has ordered banks operating under regulatory forbearance to suspend the payment of dividends, defer…
DevSecFlow Launches AI-Powered Cybersecurity Platform to Fortify Nigeria’s Fintech Sector
DevSecFlow, a cybersecurity firm, has launched an advanced security operations platform called SECOYA, aimed at providing intelligent and scalable cyber…
Afreximbank Projects $44 Billion in Trade Deals at IATF 2025 in Bold Push for Intra-African Growth
The African Export-Import Bank (Afreximbank) is forecasting over US$44 billion in trade and investment agreements at the upcoming Intra-African Trade…
AfCFTA Chief Challenges Intra-Africa Trade Figures, Rallies Business Support for IATF 2025
Wamkele Mene, the Secretary-General of the African Continental Free Trade Area (AfCFTA), has cast doubt on widely cited statistics that…
Government Orders 10–15% Data Bundle Boost by July 1 to Improve Accessibility-Ghana
In a major policy move aimed at improving internet accessibility across Ghana, the government has directed all major mobile network…
Recapitalization Deadline: BDCs In Talks With CBN, Seek Extension To Dec 31
Following the expiration of the June 3, 2025 recapitalisation deadline for Bureau De Change (BDC) operators, a majority of players…
France’s Mistral Launches Europe’s First AI Reasoning Model in Bid to Rival U.S. and China
French AI startup Mistral has unveiled Europe’s first AI reasoning model, marking a significant step in the continent’s race to…
Crypto Exchange Bullish Quietly Files for U.S. IPO Amid Renewed Market Optimism
Peter Thiel-backed cryptocurrency exchange Bullish has reportedly filed confidentially for an initial public offering (IPO) in the United States, according…
Profit-Taking Drags Nigerian Stock Market Down by N377.9bn After Sallah Break
The Nigerian stock market opened on a bearish note after the Sallah holiday, suffering a major setback as investors embarked…
FX Inflows Surge 62% in May to $5.96bn as Investor Confidence Rebounds
Nigeria’s foreign exchange (FX) market experienced a significant revival in May 2025, as total inflows rose sharply by 62% month-on-month…