CBN Ends Capital Restoration Deadline, Banks to Adopt Stricter Lending as Recapitalisation Deepens
As the Central Bank of Nigeria’s (CBN) deadline for the Capital Restoration Plan expires today, banks are bracing for a…
Category: Local
Nigeria Eyes 25% Hike in OPEC Oil Quota by 2027 Amid Refinery Expansion, Says NNPC
Nigeria is preparing to formally request a 25% increase in its oil production quota from the Organisation of Petroleum Exporting…
Ghana’s Treasury Bills Undersubscribed by 39.68% as Yields Edge Higher
Demand for Ghana’s treasury bills weakened sharply in the second week of July 2025, as the government faced a significant…
Nigerian Stock Market Hits 7-Week Rally as Banks Power ASI Past 126,000 Mark
The Nigerian stock market closed the week ended July 11, 2025, on a bullish note as the All-Share Index (ASI)…
Nigeria’s Dollar Inflows Plunge 28%, Raising Alarms Over FX Market Stability
Nigeria’s foreign exchange market saw a significant setback in June 2025, as total dollar inflows dropped to $4.84 billion, a…
FCMB Receives Changemaker Award for Empowering Youth Through Enactus Nigeria Partnership
First City Monument Bank (FCMB) has been honoured with the Changemaker Collaboration Award by Enactus Nigeria in recognition of its…
IMBIL Telecom Earns Global ISO Certification, Boosting Nigeria’s ICT Reputation
IMBIL Telecom Solutions Nigeria Ltd has been awarded the prestigious ISO/IEC 27001:2022 certification for Information Security Management Systems (ISMS), highlighting…
Deposit Confidence Soars as Ghana’s Savings and Loans Sector Records 30.6% Asset Growth
Ghana’s savings and loans sector is experiencing a surge in public confidence, highlighted by a significant 39.4% year-on-year rise in…
NGX Gains 0.30% as NGX Group, Champion Breweries, C & I Leasing Lead Market Rally
Nigeria’s equities market recorded a 0.30% rise on Tuesday, July 8, 2025, marking its second consecutive positive trading session for…
Federal Government Lists N4bn Savings Bonds on Nigerian Exchange
The Nigerian Exchange Limited (NGX) has officially listed the June 2025 edition of the Federal Government of Nigeria (FGN) Savings…
Ghana Receives $367M IMF Tranche to Bolster Economy, Stabilise Cedi
Ghana has officially received a $367 million disbursement from the International Monetary Fund (IMF), marking the fifth tranche of its…
Nigerian Equities Market Sustains Bullish Momentum with N212bn Gain
The Nigerian Exchange Limited (NGX) continued its upward trajectory on Wednesday, July 10, 2025, posting a significant gain of N212…
Nigerian Banks Race to Bridge ₦783bn Capital Gap as Stanbic IBTC Leads Recapitalisation Surge
The Nigerian banking sector’s capital shortfall has reduced to ₦783.4 billion following Stanbic IBTC Holdings’ successful recapitalisation. This move comes…
Dangote Refinery Expands Fuel Export Reach to Southern Africa with Namibia Facility
The Dangote Petroleum Refinery is set to expand its export operations by constructing a fuel storage facility in Namibia with…
Nigeria’s Economy Expands for 6th Straight Month as Agriculture Leads Growth – CBN Warns of Rising Cost Pressures
Nigeria’s economy has recorded its sixth consecutive month of expansion, according to the June 2025 Purchasing Managers’ Index (PMI) released…
Nigeria’s Foreign Reserves Projected to Reach $41bn by Year-End Amid Naira Gains
Nigeria’s external reserves could reach $41 billion by the end of 2025, driven by the continued appreciation of the naira…
Nigerian Stocks Surge Midweek with N212bn Gain Amid Broad Market Optimism
The Nigerian equities market continued its bullish run midweek, with a significant gain of ₦212 billion in market capitalisation on…
IMF Boosts FIRS Support as Nigeria Implements Sweeping Tax Reforms
The International Monetary Fund (IMF) has strengthened its collaboration with Nigeria’s Federal Inland Revenue Service (FIRS), offering enhanced technical assistance…
Nigeria’s Impending GDP Rebasing: A Bigger Economy, But for Whose Benefit?
The National Bureau of Statistics (NBS) is set to release Nigeria’s long-overdue rebased Gross Domestic Product (GDP) figures, updating the…
Nigerian Crude Hits $72 Amid Red Sea Tensions, Dangote Pushes for 100% Local Supply
Nigerian crude oil prices surged past $72 per barrel on Tuesday, spurred by renewed geopolitical tensions following deadly Houthi attacks…
Nigerian Insurance Firms Project N14.1bn Q2 Profit Decline Amid FX Losses
Four Nigerian insurance firms—AXA Mansard Insurance Plc, Consolidated Hallmark Holdings Plc, Linkage Assurance Plc, and Sunu Assurance Nigeria Plc, are…
Stronger Reserves to Boost Cedi Stability and Disposable Incomes, Merban Capital-GHANA
Ghana’s strengthened international reserves are expected to enhance currency stability and improve citizens’ purchasing power, according to Merban Capital’s Head…
Dangote Refinery Cuts Petrol Price Again to N820 per Litre Amid Market Stabilisation
Dangote Refinery has further reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N840 to…
Tinubu, Atiku’s Aides Clash Over State of Nigerian Economy
In a heated exchange over Nigeria’s economic direction, senior presidential aide Bayo Onanuga and Atiku Abubakar’s media aide Phrank Shaibu…
NCC Introduces N10m Licence for Bulk SMS Providers to Tackle Fraud and Spam
The Nigerian Communications Commission (NCC) has announced a mandatory N10 million licence fee for companies sending bulk international SMS, commonly…
Naira Slightly Weakens to ₦1,529/$ as Forex Demand Rises Amid Card Transaction Resumption
The Nigerian naira experienced a marginal depreciation at the official foreign exchange market, closing at ₦1,529.22 to the dollar on…
IMF Calls on Nigeria to Deepen Inclusive Growth and Enforce Fiscal Discipline Amid Economic Strains
The International Monetary Fund (IMF) has advised Nigeria to prioritise inclusive economic growth, reinforce fiscal discipline, and increase domestic revenue…
Naira Breaks Free from Oil Dependency as Currency Holds Steady Despite Price Slump
Nigeria’s naira is showing signs of resilience and stability, decoupling from its historical dependence on crude oil prices, according to…
Despite 50% Tariff Hike, Nigeria’s Internet Usage Surges 30% in 2025
Despite a steep 50% increase in telecom tariffs earlier in 2025, Nigeria has seen a surprising 30.91% rise in average…
Nigeria Eyes Record $16.08bn in Foreign Portfolio Inflows Amid High Interest Rates
Nigeria is on track to record its highest-ever foreign portfolio investment (FPI) inflows by the end of 2025, as analysts…