FAAC Distributes N1.65 Trillion in May Amid Boost in VAT and Oil Derivation Funds
In May 2025, the Federation Account Allocation Committee (FAAC) disbursed N1.65 trillion to Nigeria’s federal, state, and local governments. This…
Category: Local
Ghana’s Producer Inflation Falls to 10.2% in May 2025: Lowest Since 2023 Amid Sector-Wide Deflation
Ghana’s producer price inflation (PPI) dropped sharply to 10.2% in May 2025 from 18.5% in April, marking the lowest rate…
Nigerian Power Sector and Government Lag Behind in Digital Resilience, NESG Warns
At a biennial lecture in Lagos organized by the Chartered Institute of Directors, the CEO of the Nigerian Economic Summit…
Equity Market Soars as Oil, Insurance Stocks Drive N1.18tn Rally
The Nigerian Exchange (NGX) witnessed a robust performance on Wednesday, marking a major rebound with the market capitalisation surging by…
CBN Introduces Targeted Measures for Select Banks Amid Sector Reform
The Central Bank of Nigeria (CBN) has issued new transitional guidelines targeted at a select number of banks as part…
USSD Now Costs ₦6.98 per 2 Minutes as Direct User Billing Begins Nationwide
Starting June 18, 2025, Nigerians using USSD codes for mobile banking and other digital transactions will now pay ₦6.98 for…
Experts Highlight Urgent Need for AI Infrastructure at Lagos Tech Forum
Global infrastructure company Vertiv, in collaboration with Africa Hyperscalers and Turner & Townsend, is hosting the AI Solutions Innovation Roadshow…
BoG Maintains Flexible Exchange Rate Policy, Rejects Fixed Band Approach, Governor Asiama-Ghana
The Governor of the Bank of Ghana, Dr. Johnson Asiama, has stated that the central bank is not targeting a…
Naira Strengthens Below N1,600/$ as U.S. Dollar Falters Amid Global Uncertainty
The Nigerian naira continued its strong performance in the parallel market, breaking the N1,600/$ resistance level to trade between N1,585…
FG Targets N100 Billion in June Bond Auction to Fund 2025 Budget
The Federal Government of Nigeria, via the Debt Management Office (DMO), has announced plans to raise N100 billion through a…
Nigeria Takes Key Role in Global Push to Connect 2.6 Billion Offline People
Nigeria has reclaimed a leading position in global digital policy as Dr. Bosun Tijani, the Minister of Communications, Innovation, and…
CBN Sells N7.9 Trillion in Treasury Bills, Rejects N12.2 Trillion in Bids Amid Surging Investor Demand
In a move reflecting rising investor appetite for naira-denominated assets amid persistent inflation, the Central Bank of Nigeria (CBN) sold…
NGX Sheds N183bn as Blue-Chip Stocks Tumble Amid Bearish Sentiment
The Nigerian Exchange Limited (NGX) suffered a significant blow on Tuesday, losing N183 billion in market value as bearish sentiment…
Telcos Hail New USSD Billing Rule as NCC, CBN Tackle Bank Payment Default
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has endorsed a new billing framework for USSD transactions called the…
Caution Amid Optimism: Economist Warns Ghana Not Ready for Eurobond Market Despite Fitch Upgrade
Fitch Ratings recently upgraded Ghana’s credit rating to ‘B-’ with a stable outlook, a move that signals improved investor confidence…
Nigeria Imports N1.2tn Worth of Crude Despite Being Africa’s Top Oil Producer
Nigeria, despite being Africa’s largest oil producer, imported crude oil worth N1.19 trillion in the first quarter of 2025 due…
FCMB Reassures Shareholders of Dividends Amid CBN’s New Banking Restrictions
FCMB Group Plc has moved to allay shareholder concerns following a new directive from the Central Bank of Nigeria (CBN),…
Nigeria Becomes Crude Oil Importer Despite Being Africa’s Top Producer
In a striking contradiction, Nigeria—Africa’s leading oil producer—spent N1.19 trillion importing crude oil in the first quarter of 2025, making…
CBN Dividend Suspension Triggers Sharp Decline in Banking Stocks
The Nigerian banking sector faced a significant downturn following the Central Bank of Nigeria’s (CBN) recent directive halting dividend and…
Edun, Cardoso Strategize as Nigeria’s Inflation Drops to 22.97%
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, met with Central Bank Governor Yemi Cardoso on…
Fitch Upgrades Ghana’s Credit Rating to ‘B-‘ as Economic Reforms Take Hold
Fitch Ratings has upgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating from “Restricted Default” to ‘B-’ with a Stable Outlook. This…
Cedi Gains Offer Little Relief Without Inflation Tamed, Says Blue Skies Founder-Ghana
Anthony Pile, founder of leading fruit exporter Blue Skies Company Ltd., has raised concerns that Ghana’s recent cedi appreciation, while…
CBN Dividend Ban Triggers Sharp Decline in Bank Stocks on NGX
Bank stocks on the Nigerian Exchange (NGX) suffered significant losses on Monday, June 16, 2025, after the Central Bank of…
World Bank Warns of Alarming Drop in FDI to Developing Nations, Hits Lowest Level Since 2005
Foreign direct investment (FDI) into developing economies has plummeted to its lowest point in nearly two decades, according to a…
Israel-Iran Conflict Threatens Nigerian Economy with Investment Risks and Rising Interest Rates – CPPE
The Centre for the Promotion of Private Enterprise (CPPE) has warned that the escalating conflict between Israel and Iran poses…
Beyond the Balance Sheet: Nigeria’s Bank Recapitalisation Spurs Debate on Profit vs Purpose
With only months left before the Central Bank of Nigeria’s (CBN) recapitalisation deadline, banks in Nigeria are rushing to meet…
Nigerian Breweries Bounces Back: Q1 2025 Profits Signal Strong Recovery, Spark Investor Optimism
Nigerian Breweries Plc has earned praise from financial stakeholders following its impressive Q1 2025 financial results, which mark a strong…
CBN Crackdown on Forbearance Exposes FirstHoldco, Others to Billions in Loan Risks
The Central Bank of Nigeria (CBN) has taken a firm stance by reverting to orthodox monetary policy, enforcing stricter regulations…
SEC Charts Path for Cross-Border Trade with Naira-Backed Stablecoin Framework
The Securities and Exchange Commission (SEC) of Nigeria has unveiled plans to develop a regulatory framework for stablecoins, aiming to…
CBN’s $4.01bn Forbearance Loans Under Review as Nigeria Plans Gradual Phase-Out
A new report by Renaissance Capital Africa has revealed that the Central Bank of Nigeria (CBN) extended a total of…