CBN says naira FX gap falls below 2% as reserves top $52.5 billion
The Central Bank of Nigeria (CBN) has announced that its monetary and foreign exchange reforms are beginning to deliver measurable…
Category: Business
World Bank: AI Adoption Among Nigerian Firms Up 40%
Nigeria has emerged as one of Africa’s fastest-growing artificial intelligence markets after the World Bank revealed that AI adoption among…
Nigerian Stock Market Loses N599 Billion as Nestlé, First HoldCo Lead Massive Sell-Off
The Nigerian stock market suffered a major setback on Tuesday, wiping out approximately N599 billion in market value as investors…
SpaceX Revenue Soars 92% as Starlink and AI Deals Drive Record Growth
SpaceX has reported a remarkable financial performance in its first quarterly earnings since becoming a publicly traded company, with revenue…
Nigeria’s $4.5bn Oil-Backed Loan Refinancing Set to Boost Naira, Strengthen Foreign Reserves
Nigeria’s efforts to stabilize the naira have received a major boost after the National Economic Council (NEC) approved the refinancing…
Oil Prices Slide Below $80 as Hopes for US-Iran Deal Boost Market Confidence
Global oil prices suffered a sharp decline on Tuesday, with Brent crude falling below the $80-per-barrel mark for the first…
CBN Cuts Government Financing as Assets Surge Above N138 Trillion in Push for Economic Stability
The Central Bank of Nigeria (CBN) has taken another major step toward strengthening the country’s economy by reducing its financial…
Cheaper Latin American Crude Puts Nigeria’s European Oil Market at Risk
Nigeria’s long-standing position as one of Europe’s preferred crude oil suppliers is facing increasing pressure as cheaper crude from Brazil…
TotalEnergies Takes Nigeria to Court Over $554 Million Petroleum Tax Dispute
French energy giant TotalEnergies has taken fresh legal action against Nigeria’s tax authorities and the Nigerian National Petroleum Company (NNPC),…
Germany’s Energy Demand Drops as Soaring Fuel Prices Slash Oil Consumption
Germany’s energy demand declined by 1.9% during the first half of 2026, as soaring oil and gas prices forced consumers…
FRC to convene audit summit on AI, financial reporting
The Financial Reporting Council of Nigeria (FRC) is set to bring together some of the country’s leading financial experts, regulators,…
Local investors trade N17.7 trillion stocks in 18 months
Nigeria’s capital market is increasingly being driven by homegrown investors, with domestic participants accounting for N17.7 trillion worth of stock…
Stock futures edge higher after rip-roaring rally leads Dow to record closing high
The U.S. stock market opened Tuesday with renewed optimism after the Dow Jones Industrial Average closed at an all-time high…
Nigerian Stock Market Starts August Strong with N289bn Gain as Investor Confidence Rebounds
The Nigerian stock market kicked off August 2026 on a positive note, delivering an impressive N289 billion gain in market…
DMO Launches August Savings Bonds With Returns of Nearly 15% for Nigerian Investors
The Debt Management Office (DMO) has opened subscriptions for its August 2026 Federal Government Savings Bond programme, offering Nigerians an…
NRS makes Tax ID mandatory for new crypto account activations
The Nigeria Revenue Service (NRS) has introduced a major policy change that will reshape how Nigerians access cryptocurrency platforms. Under…
Nigeria’s purchase cost inflation hits five-month low as PMI stays above 52
Nigeria’s private sector remained on a growth path in July, with businesses benefiting from stronger customer demand even as the…
NNPC Profit Drops 35% in H1 2026 Despite Strong June Recovery as Revenue Climbs
Nigeria’s state-owned oil giant, NNPC Limited, posted a profit after tax of N2.28 trillion for the first half of 2026,…
Banks’ Deposits at CBN Surge 670% to N83.95 Trillion as Borrowing Plunges
Nigeria’s banking sector witnessed a significant shift in liquidity management as commercial banks dramatically increased their deposits with the Central…
Bank of America sharpens focus on Africa after key role in Dangote refinery placement
Bank of America is strengthening its commitment to Africa with a major leadership reshuffle aimed at expanding its corporate and…
Cheaper Latin American Oil Puts Nigeria’s European Crude Market at Risk
Nigeria’s long-standing dominance in Europe’s crude oil market is coming under increasing pressure as cheaper oil supplies from Brazil and…
Nigeria Introduces New Crypto Tax Rules as Exchanges Risk ₦10 Million Fine for Non-Compliance
The Federal Government has taken a major step toward regulating Nigeria’s fast-growing cryptocurrency industry with the introduction of new tax…
August dividend race begins as 8 NGX companies set qualification dates
August is shaping up to be an important month for investors on the Nigerian Exchange (NGX) as eight listed companies…
Nigeria’s Global LNG Market Share Slips to 5% as NLNG CEO Warns of Steeper Decline
Nigeria’s position in the global liquefied natural gas (LNG) industry is facing growing pressure, with the country’s market share falling…
Renewed demand lifts Nigeria Eurobonds after previous selloff
Nigeria’s Eurobond market has bounced back strongly after a brief period of losses, with renewed investor demand signaling growing confidence…
Petrol consumption drops by 52m litres amid higher prices
Nigeria’s petrol consumption recorded a slight decline in the first half of 2026 as persistently high pump prices continued to…
Banking Stocks Drive Nigerian Market to N288 Billion Gain Despite Widespread Selloff
The Nigerian stock market kicked off the new trading week on a positive note as strong buying interest in major…
Crypto exchanges face N10 million fine under new NRS tax rules
Nigeria’s cryptocurrency industry is entering a new era of stricter regulation as the Nigeria Revenue Service (NRS) has unveiled comprehensive…
DMO offers two savings bonds, sets minimum investment at N5,000
The Debt Management Office (DMO) has launched a fresh subscription window for two Federal Government Savings Bonds, giving Nigerians another…
Seplat Energy Reduces JV Stake To 30%, Sells 10% To NNPC For $281.6m
Seplat Energy Plc has announced a major strategic move after agreeing to sell a 10 percent working interest in its…