NGX posts N318bn gain after Easter break
The Nigerian Stock Exchange (NGX) saw a positive rebound after the Easter break, with a significant gain of N318 billion…
Category: Business
Naira in Circulation Drops to N5tn as of March 2025 Amid Tightened Monetary Policy
As of March 2025, Nigeria’s currency in circulation dropped to N5 trillion, reflecting a decrease from N5.04 trillion in February…
Tinubu Urges Deeper ECOWAS Integration to Harness AfCFTA’s Promise
At the ECOWAS Golden Jubilee event in Accra, Nigerian President Bola Tinubu, represented by Ambassador Bianca Ojukwu, called on West…
Customs Eyes Return of 4% FOB Charge Amid Ongoing Duty Relief Efforts
The Nigeria Customs Service (NCS) has announced plans to reintroduce the controversial four per cent Free-on-Board (FOB) value levy on…
China Warns Nations Against US Trade Deals That Undermine Its Interests
China has issued a stark warning to countries considering trade deals with the United States that could harm its economic…
Bitcoin Surges to $88,000 Amid U.S. Dollar Weakness and Market Volatility
Bitcoin (BTC) surged past $88,000 on Tuesday, marking its highest price since late March. This significant rise came as the…
Naira Hits N1,845/€ on Easter Monday as Euro Climbs to 3-Year High Against the Dollar
On Easter Monday, the Nigerian naira traded at N1,845 against the euro on the black market, marking a slight decline…
Nigerian Equity Market Loses N207bn Amid Easter Holiday Shutdown
The Nigerian equity market experienced a significant decline during a shortened trading week, with a loss of N207 billion in…
Dollar Falls to Lowest Point Since March 2022 Amid Economic Uncertainty
The US dollar experienced a significant depreciation on Monday, hitting its lowest point since March 2022, as investor confidence in…
Legend Internet to List Two Billion Shares on NGX, Marking Major Milestone for Nigerian Tech Sector
Legend Internet Plc is set to list two billion shares on the Main Board of the Nigerian Exchange Limited (NGX)…
FX Volatility Drives 9% Increase in Local Inputs Sourcing by Nigerian Manufacturers in 2024
In 2024, the ongoing foreign exchange (FX) volatility in Nigeria caused a significant shift in the manufacturing sector, leading to…
Nigeria’s $630 Million Investment in Data Centres to Meet Surge in Internet Usage
As internet usage continues to soar, data centre operators in Nigeria are investing over $630 million to expand their facilities…
Philipp Müller Appointed CEO of Blue Earth Capital to Lead Next Growth Phase in Impact Investing
Blue Earth Capital, a prominent impact investor managing over $1.5 billion in assets, has announced the appointment of Philipp Müller…
C2FO Secures $30 Million Funding to Expand into Emerging Markets with IFC Support
C2FO, a US-based working capital platform, has raised $30 million in funding to enhance its technology and expand its services…
Nigeria’s Foreign Investment Surges to Two-Year High Amid High Yields and Rate Hikes
Foreign investment in Nigeria has surged to its highest level in over two years, largely driven by the Central Bank…
Top Nigerian Banks Post Record ₦17.3 Trillion in Gross Earnings, Profit Soars by 60% in 2024
In a year marked by economic hurdles, Nigeria’s top five banks – Zenith Bank, GTCO, UBA, Access Holdings, and First…
Ghana Surpasses IMF Reserve Target Early, Strengthening Economic Outlook
Ghana has successfully exceeded a key milestone in its ongoing IMF program, surpassing its gross international reserve target over a…
Ghana to Face Minimal Economic Impact from New US Tariffs, Fitch Solutions Report
Ghana is expected to experience relatively minor economic disruption from the new US tariffs, according to a report by Fitch…
IFC Provides Financing Package to Cameroon’s First African Company
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a partnership with First African Company…
CBN Mulls Interest Rate Hike as Money Supply Soars to N114.2tn
The Central Bank of Nigeria (CBN) may be gearing up to raise interest rates in May, as inflationary pressures continue…
CBEX: Oil & gas investors hit hard as fraud surpasses N2trn
The abrupt collapse of Crypto Bridge Exchange (CBEX), a digital investment platform exposed as a Ponzi scheme, has left thousands…
IMF Urges Ghana and Affected Nations to Accelerate Reforms Amid Trade Tariff Pressures
The International Monetary Fund (IMF) is calling on Ghana and other countries impacted by the United States’ recent 10% trade…
IMF Warns of Global Economic Strain as U.S. Tariffs Fuel Trade Tensions
The International Monetary Fund (IMF) has raised alarms over mounting global trade tensions, cautioning that rising tariffs—particularly from the United…
Hermes To Hike US Prices To Offset Tariff Impact
French luxury brand Hermès announced plans to increase its U.S. prices starting May 1 to counter the impact of a…
FG Targets Cooperative Sector Revamp to Drive $1 Trillion Economy
The Federal Government of Nigeria has launched a comprehensive initiative aimed at revitalizing the country’s cooperative sector, positioning it as…
Nigeria Lands $1.3B Mining Investment, Eyes $25B GDP Surge & $8B FX Boost — Alake
Nigeria just bagged a massive mining investment deal worth $1.3 billion, and it’s being called the biggest private sector-led mining…
Ghana’s Producer Price Inflation Dips to 24.4% in March Amid Sectoral Shifts and Tariff Concerns
Ghana’s Producer Price Inflation (PPI) saw a notable decline in March 2025, falling to 24.4% from 27.6% the previous month,…
Nvidia Defends AI Chip Sales After Suspension of H20 Exports to China, Faces Congressional Investigation
Nvidia has stated that it follows U.S. government export laws “to the letter” after announcing a $5.5 billion loss due…
Nigeria and South Africa Sign Mining MoU to Drive Industrialization and Job Creation
Nigeria and South Africa have entered into a Memorandum of Understanding (MoU) to strengthen their mining sectors, aiming to accelerate…
ECOWAS Bank Appoints Ghana’s Finance Minister Cassiel Forson as New Chairman
The ECOWAS Bank for Investment and Development (EBID) has appointed Dr. Cassiel Ato Forson, Ghana’s Minister of Finance, as the…