CBN’s 50% CRR Policy Sparks Liquidity Crisis, Threatens Nigeria’s $1tn Economic Goal
Nigeria’s banking sector is facing a serious liquidity challenge following the Central Bank of Nigeria’s (CBN) decision to impose a…
Category: Local
Dangote Refinery Set to Export First Petrol Cargo to Asia, Signaling Global Expansion
The Dangote Petroleum Refinery, Africa’s largest oil refining facility, is preparing for its first gasoline export beyond Africa, with a…
NIBSS Launches ISO 20022-Compliant National Payment Stack to Revolutionize Digital Payments in Nigeria and Africa
The Nigeria Inter-Bank Settlement System (NIBSS) has officially launched the National Payment Stack (NPS), an advanced payment infrastructure built on…
Senate Demands Explanation from NNPCL Over Missing N210 Trillion in Financial Records
The Nigerian Senate has issued a one-week ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to explain discrepancies totaling…
Experts Urge African Organisations to Embrace Digital Transformation for Economic Growth
Organisations and government agencies across Africa have been strongly encouraged to prioritise digital transformation as a critical strategy for innovation,…
Nigerian Stock Market Rebounds as Access, FCMB, and Fidelity Bank Assure CBN Compliance
The Nigerian stock market saw a significant rebound after major banks including Access Holdings, FCMB Group, and Fidelity Bank reassured…
CBN Halts Banks’ Foreign Investments, Dividends & Bonuses Amid Market Activity Surge
In a directive issued on June 13, 2025, the Central Bank of Nigeria (CBN) announced a temporary suspension on dividend…
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…
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…