Tinubu Sacks Kyari, Akinyelure, Appoints Bayo Ojulari As New GCEO Of NNPCL
In a significant shake-up, President Bola Tinubu has approved the reconstitution of the Nigerian National Petroleum Company (NNPC) Limited’s board.…
Category: Business
Nigeria’s New Capital Market Laws Recognize Cryptocurrencies as Securities
Nigeria has officially recognized cryptocurrencies and other virtual assets as securities under its new capital market laws, marking a significant…
Luxshare Considers Hong Kong Listing to Raise up to $3 Billion
China’s Luxshare Precision Industry, a major supplier for Apple, is reportedly exploring a potential listing in Hong Kong this year.…
Surge in Personal Loans Amid Economic Pressures – CBN Report
In its Fourth Quarter 2024 Economic Report, the Central Bank of Nigeria (CBN) revealed that Nigerians secured N470 billion in…
Nigeria’s External Debt Hits N66.14 Trillion in Q3 2024 Amid Growing Fiscal Pressures
In the third quarter of 2024, Nigeria’s external debt reached N66.14 trillion (approximately $43.03 billion), representing 23.14% of the nation’s…
Apple Hit with $162 Million Fine in France Over Ad Tracking Violations
Apple has been slapped with a €150 million ($162.42 million) fine by French antitrust regulators for allegedly abusing its power…
Global Stocks Extend Losses Amid Deepening US Tariff Fears
Global stock markets continued their downward trajectory on Monday, as fears surrounding the impact of US tariffs weighed heavily on…
Global Stocks Tumble as Tariff Fears and Recession Concerns Grow
World markets experienced sharp declines on Monday, with gold prices hitting a record high as global trade tensions escalated. U.S.…
Nigeria Secures $500 Million World Bank Loan to Boost Economic Resilience
Nigeria has secured a $500 million loan from the World Bank to address its ongoing economic challenges through the Community…
Headline: Interbank Rate Hits Five-Year High as CBN Tightens Liquidity to Combat Inflation
In January 2025, Nigeria’s interbank lending rate surged to 28.58 percent, marking a five-year high as the Central Bank of…
General Insurance Industry Contributes 14.4% More to Nigeria’s GDP in 2024
The Nigerian general insurance industry contributed N349.01 billion to the nation’s economy in 2024, marking a 14.4% year-on-year increase from…
MTN Ghana Reports 34% Revenue Growth and Announces Dividend Payout for 2024
MTN Ghana has delivered strong financial results for 2024, showcasing a remarkable 34.5% year-on-year increase in service revenue. This growth…
Nigeria Calls for Global Unity to Address Urbanization Challenges Amid Global Shifts
Nigeria’s government has called for innovative solutions and enhanced international cooperation to tackle the pressing urban development challenges in light…
US Suspends Financial Contributions to WTO Amid Review of Global Commitments
The United States has temporarily halted its financial contributions to the World Trade Organization (WTO) as part of an ongoing…
Nigerian Stock Market Suffers N31bn Loss Amid Mixed Sector Performances
The Nigerian Exchange Limited continued its downward trend on Thursday, with the market capitalisation dipping by N31 billion. The All-Share…
Stakeholders Advocate for Boosting Local Capital to Fuel Impact Investments in Nigeria
At the 2025 Investors Roundtable in Lagos, key stakeholders from the financial, investment, and development sectors emphasized the importance of…
TotalEnergies Achieves GHS 286M Profit in 2024 and Contributes GHS 1.7B in Taxes to Ghana
TotalEnergies Marketing Ghana PLC reported a notable increase in profits for 2024, posting GHS 286.67 million in profit after tax,…
Nigeria Faces Economic Slowdown as Money Supply Declines for the First Time
Nigeria’s economic outlook is growing increasingly uncertain as the country experiences its first decline in money supply. The Central Bank…
Intel Announces Major Board Changes as CEO Pushes for Turnaround
Intel Corp. has announced that three of its board members will retire and not seek reelection at the company’s 2025…
Bank of America Sees 80% Surge in Mortgage Applications in Q1
Bank of America has reported a significant 80% jump in mortgage applications during the first quarter of 2025, driven by…
mediaReachOMD Launches AI-Driven OCI 2.0 to Revolutionize Consumer Insights
In celebration of its 25th anniversary, mediaReachOMD has unveiled OCI 2.0, the latest evolution of its proprietary consumer intelligence platform.…
Trump Threatens Larger Tariffs on Canada, EU Over Economic Harm to U.S.
U.S. President Donald Trump has warned that he could impose significantly higher tariffs on Canada and the European Union (EU)…
Global Stocks Drop as Trump Announces New Auto Tariffs, China Defies the Trend
Global stock markets took a hit on Thursday following U.S. President Donald Trump’s announcement of new 25% tariffs on automotive…
Nigeria’s Broadband Penetration Reaches 45.61% Despite Decline in Telecom GDP Contribution
Nigeria’s broadband penetration has shown consistent growth, reaching 45.61% as of January 2025, with a total subscription of 98.8 million…
NGX Market Capitalisation Drops by N74bn Amid Bearish Market Trend
The Nigerian Exchange Limited (NGX) experienced a decline in market capitalisation by N74 billion at the close of trading on…
CBN’s Strategic Forex Reforms Boost Naira Stability Amid Economic Recovery
Nigeria’s Central Bank (CBN) has made significant strides to stabilize the naira by enhancing the country’s foreign exchange reserves and…
Nigerian Startups Dominate West African Funding, Cornering 80% of Investments
Nigeria remains the undisputed leader in West Africa’s startup ecosystem, securing a dominant 80% of the region’s total $5.8 billion…
Stakeholders to Address Nigeria’s Declining Consumer Purchasing Power at 2025 Industry Summit
The 2025 Industry Summit & Awards is set to tackle the critical issue of declining consumer purchasing power in Nigeria’s…
Dangote Refinery Faces Backlash Over Dollar Sales, Expands Exports and Boosts Local Industry
Oil marketers in Nigeria, represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), have strongly opposed the…
Ghana’s Government to Settle $1.1 Billion Debt to ENI Amid Energy Sector Struggles
The government of Ghana is set to pay $1.1 billion in 2025 to ENI, an energy company, to settle outstanding…