3 Million Jobs at Risk as 1,500 Nigerian Bureau De Change Operators Fail Recapitalisation Deadline
The Central Bank of Nigeria’s (CBN) June 3, 2025 deadline for Bureau De Change (BDC) operators to meet new recapitalisation…
Category: Finance
Telcos Threaten to Withdraw USSD Services Amid Banks’ Misinformation and Unpaid Debts
Nigeria’s major telecom operators, including MTN, Airtel, Globacom, and 9Mobile, have issued a warning to banks over alleged misinformation to…
BoG Cracks Down on Hidden Bank Charges, Tightens Oversight in Banking Sector-Ghana
The Bank of Ghana (BoG) is set to introduce a series of tough regulatory measures aimed at curbing hidden bank…
Kenya Approves Moniepoint’s Entry with 78% Acquisition of Sumac Microfinance Bank
Kenya’s Competition Authority has granted approval for Moniepoint Inc.’s acquisition of a 78% stake in Sumac Microfinance Bank, marking the…
Global Markets Waver as Trade Uncertainty and Economic Data Weigh on Investor Confidence
Global markets showed signs of caution on Tuesday as European shares and U.S. stock futures declined, reflecting investor anxiety over…
NGX Chief Urges Rethink of Africa’s Growth Model, Calls for Homegrown Capital and Tech-Driven Solutions
Temi Popoola, Group Managing Director and CEO of the Nigerian Exchange Group (NGX Group), has urged African leaders and stakeholders…
Ghana’s Cedi Becomes World’s Best-Performing Currency Amid IMF Aid, Commodity Boom, and Economic Reforms
In 2025, Ghana’s currency, the cedi, has emerged as the top-performing currency globally, appreciating nearly 50% against the US dollar.…
CBN’s Recapitalization Deadline Expires: BDC Operators Urge Extension to Save 3 Million Jobs
The Central Bank of Nigeria’s (CBN) deadline for Bureau De Change (BDC) operators to meet new recapitalization requirements expired today,…
Moody’s Upgrades Nigeria’s Credit Rating Amid Economic Reforms
Moody’s Investors Service has upgraded Nigeria’s credit rating from “Caa1” to “B3”, citing meaningful strides in the country’s external and…
BREAKING: Dr. Sidi Ould Tah Elected as New AfDB President, Succeeding Adesina
Dr. Sidi Ould Tah, former Minister of Economy and Finance in Mauritania, has been elected as the 9th President of…
Ghana Reaffirms Commitment to Fair Debt Talks Under G20 Framework
The Government of Ghana has reaffirmed its commitment to equitable and transparent debt restructuring negotiations with its external creditors. According…
Nigeria and South Africa Among Africa’s Biggest Losers as $125 Billion in Tax Revenue Slips Away
Africa is losing an estimated $125 billion in tax revenue annually due to the large informal economies prevalent across the…
Nigerian Stock Market Extends Gains, Rises by 0.27%
Nigeria’s stock market continued its positive momentum on Wednesday, climbing by 0.27 percent. The uptick was largely driven by increased…
GEXIM and Saudi EXIM Forge Strategic Partnership to Boost Trade and Project Financing-GHANA
In a move to bolster Ghana’s economic transformation through enhanced international trade and export development, the Ghana Export-Import Bank (GEXIM)…
SEC Warns Nigerians Against Unregistered Silverkuun Investment Cooperative
The Securities and Exchange Commission (SEC) has issued a strong warning to the Nigerian public against engaging with Silverkuun Investment…
Japan Unlikely to Dump U.S. Treasuries Amid Lack of Alternatives, Says Ex-BOJ Official
Japan is unlikely to have sold off its substantial U.S. Treasury holdings despite a major sell-off in April, according to…
AfDB Forecasts 6% Naira Depreciation by 2026 Amid Global Market Volatility
The African Development Bank (AfDB) has projected that the Nigerian naira will depreciate by at least 6% between 2025 and…
CBN Launches New Shari’ah-Compliant Tools to Strengthen Nigeria’s Non-Interest Financial Market
The Central Bank of Nigeria (CBN) has introduced innovative liquidity management instruments to advance the country’s growing non-interest financial sector.…
Shares Stall Ahead of Nvidia Earnings as US Dollar Climbs on Strong Economic Data
Global stock markets showed mixed signals on Wednesday as investors grew cautious ahead of Nvidia’s highly anticipated earnings report later…
Jinapor Urges Swift Operationalisation of Africa Energy Bank to Power Continental Growth-Ghana
Ghana’s Minister for Energy and Green Transition, John Jinapor, has called for urgent action to make the Africa Energy Bank…
Ghana Poised for Economic Growth Beyond IMF Support – Deputy Finance Minister
Deputy Finance Minister Thomas Ampem Nyarko has reaffirmed the government’s determination to guide Ghana’s economy toward sustainable growth without further…
Tinubu seeks Reps approval for $21.5bn external loan, N757.9bn bond
President Bola Tinubu has formally requested the Nigerian House of Representatives to approve a comprehensive borrowing plan totaling over $21.5…
CBN Launches New Liquidity Tools to Boost Non-Interest Banking Sector
The Central Bank of Nigeria (CBN) has introduced a suite of innovative liquidity management instruments tailored for non-interest financial institutions.…
Local Investors Dominate N2.7 Trillion Stock Deals in First Four Months of 2025
In the first four months of 2025, stock transactions on the Nigerian Exchange (NGX) totaled N2.714 trillion, a significant increase…
South Korean Stocks Lead Asia’s Gains as Trump Delays EU Tariffs; China, Hong Kong Struggle
South Korean stocks surged over 2% on Monday, outpacing other Asia-Pacific markets, following U.S. President Donald Trump’s decision to postpone…
Trump Postpones EU Tariffs, Markets Rally as Trade Talks Resume
U.S. President Donald Trump has delayed the imposition of threatened 50% tariffs on European Union imports until July 9, giving…
NGX Turnover Surges to N74.8bn Despite ASI Dip and Mixed Sectoral Performance
The Nigerian Exchange (NGX) witnessed a strong rise in market activity last week, with turnover climbing by 17.3 per cent…
CBN Nets N615.8bn as Treasury Bill Demand Surges Despite Fiscal Strains
In its latest Treasury bills auction on May 21, 2025, the Central Bank of Nigeria (CBN) raised N615.8 billion, surpassing…
UK 3.5% inflation surge deepens financial pressure on Nigerians abroad
Nigerians living in the United Kingdom are facing renewed financial challenges following a sharp rise in UK inflation, which jumped…
Lagos government sanctions 21 money lending firms for violations
The Lagos State government has penalized 21 money lending companies for breaching various regulatory guidelines. This was disclosed by the…