Stablecoin Inflows in Nigeria Dominate Sub-Saharan Africa, IMF Report Reveals Digital Currency Shift
Nigeria has emerged as a central hub for digital asset movement in Africa, accounting for about 60% of stablecoin inflows…
Category: Business
Foreign Investors Pour $3.3bn Into Nigerian Bonds as High Yields Drive Confidence Surge
Foreign investors have significantly increased their exposure to Nigeria’s debt market, injecting about $3.23bn into Nigerian bonds in the first…
IMF Says Naira Undervalued by 25.6%, Estimates Fair Exchange Rate at N1,142 per Dollar
The International Monetary Fund (IMF) has revealed that the Nigerian naira remains significantly undervalued despite recent improvements in the foreign…
AI Companies Eye IPO Boom as SpaceX Triggers Market Ripple Effect Across Tech and Energy Sectors
The tech and financial world is entering what many analysts are calling a potential “AI IPO summer,” as major artificial…
Elon Musk Predicts SpaceX Could Hit $1 Trillion Revenue by 2030 After Historic $2 Trillion Valuation
Elon Musk, the billionaire entrepreneur behind Elon Musk, has projected that his space exploration company, SpaceX, could generate as much…
Dangote Refinery Cuts Petrol Price by N75 Amid Global Oil Price Drop
Dangote Petroleum Refinery has announced a reduction in the gantry price of Premium Motor Spirit (petrol), slashing it by N75…
CBN Liquidity Tightening – N3.83 Trillion Withdrawn Shakes Nigeria’s Financial System
Nigeria’s financial system came under pressure last week as the Central Bank of Nigeria intensified its liquidity control measures, withdrawing…
US–Iran Peace Deal Sends Shockwaves Through Global Markets — What It Means for Nigeria’s Economy
Global relief as US–Iran peace deal calms energy markets A newly announced peace agreement between the United States and Iran…
U.S. Stock Futures Flat After Dow Record Close on U.S.–Iran Deal; Asian Markets Hit Record Highs
U.S. stock futures were mostly unchanged on Tuesday following a strong rally in the previous session that pushed the Dow…
NGX Suffers Sharp Selloff as Market Capitalization Drops by N984bn on Heavy Profit-Taking
The Nigerian equities market opened the week on a bearish note as sustained profit-taking and widespread selloffs pushed the Nigerian…
NGX Market Slumps as Oil Stocks, First HoldCo Trigger N945bn Loss in One-Day Sell-Off
Nigeria’s equities market slipped back into the red on Monday, June 15, 2026, as heavy selling pressure hit major oil…
Naira strengthens to N1,356/$ amid rising reserves — strongest level since April 2026
The Nigerian naira recorded a fresh gain on Monday, strengthening to N1,356 per US dollar at the official foreign exchange…
Nigeria Power Crisis: World Bank $3.653bn Funding Exposes Deep Structural Failures in Electricity Sector
Nigeria’s persistent electricity crisis continues to raise tough questions, even as the country benefits from billions of dollars in international…
NGX Market Sheds N1.02 Trillion as Bank and Oil Stocks Drag Equities Down
The Nigerian equities market ended on a weak note as investors recorded a significant loss of about N1.02 trillion in…
CBN HoldCo Reforms May Force ₦370bn Capital Raise Across Nigeria’s Top Banks
Nigeria’s leading banking groups may soon be compelled to raise about ₦370 billion in fresh capital following proposed new rules…
Oil Price Drops to $83 as US–Iran Peace Deal Sparks Global Market Shift
Crude oil prices slid sharply on Monday, falling to around $83 per barrel after the United States and Iran signed…
Nigeria Gas Production Hits 7.93bcf/d in May 2026 as Output Strengthens
Nigeria’s natural gas sector recorded a modest but steady growth in May 2026, with average daily production rising to 7.93…
Nigeria’s Fuel Import Bill Crashes 96% to N87bn in Q1 2026
Nigeria’s expenditure on fuel imports dropped sharply in the first quarter of 2026, signaling a significant shift in the country’s…
United Capital Acquires 5% Stake in NGX Group, Signals Strong Confidence in Nigeria’s Capital Market
United Capital Group has strengthened its foothold in Nigeria’s financial sector after acquiring a 5 percent equity stake in the…
Nigeria Inflation Rate Climbs to 15.93% in May as Rising Prices Continue to Squeeze Consumers
Nigeria’s inflation rate rose to 15.93% in May 2026, highlighting the continued pressure of rising prices on households and businesses…
Nigeria’s Corporate Giants Reap Reform Windfall as Cash Flows Surge 247% in Three Years
Three years after President Bola Tinubu introduced sweeping economic reforms, Nigeria’s largest listed companies are showing remarkable financial resilience, with…
Nigeria Overtakes Morocco as Africa’s Second-Largest Stock Market Amid Record Rally
Nigeria has climbed to become Africa’s second-largest stock market, overtaking Morocco after a remarkable rally that has transformed the Nigerian…
Nuclear Energy Comeback Gains Momentum as Nations Turn to “All-of-the-Above” Power Strategy
A global shift in energy strategy is underway as nuclear power stages a strong comeback, driven by rising concerns over…
CBN Liquidity Tightening Sparks Rush into Short-Term Debt as Investors Chase High Yields
Nigeria’s financial markets are undergoing a sharp recalibration as the Central Bank of Nigeria intensifies its liquidity tightening campaign, pushing…
U.S. Stock Futures Jump After Iran Peace Deal as Global Markets Rally on Trump Announcement
Global financial markets opened the week on a strong note as U.S. stock futures surged after President Donald Trump announced…
Nigerian Fixed-Income Market Surges to N1.06tn as Investors Rush Into Treasury Bills and Bonds
Nigeria’s fixed-income market witnessed a dramatic surge in trading activity as total daily turnover climbed past the N1 trillion mark,…
AI IPO Boom: SpaceX Leads Trillion-Dollar Wave as OpenAI and Anthropic Race Toward Public Markets
The global tech and financial markets are entering a new phase of disruption as artificial intelligence companies prepare for a…
Naira Slips Again as FX Liquidity Tightens, Loses N5.08 in a Week
The naira came under renewed pressure this week as weaker dollar supply in the foreign exchange market triggered fresh depreciation…
SoftBank Surges 10%+ as Iran–U.S. Peace Deal Sparks Asia Tech Stock Rally
Asian technology stocks soared on Monday as investors reacted positively to reports of a peace agreement between Iran and the…
Tinubu @ 3: Nigeria’s Stock Market Surges N130 Trillion Amid Economic Hardship and Bold Reforms
Nigeria’s stock market has delivered one of its most dramatic wealth surges in recent history, rising from about N30 trillion…