Bearish Start to Q2 as Nigerian Stock Market Loses N90bn
The Nigerian stock market began the second quarter of 2025 on a negative note, with the All-Share Index falling by…
Category: Local
Nigeria’s Net Foreign Exchange Reserves Soar to $23.1 Billion, Highest in Three Years
Nigeria’s Net Foreign Exchange Reserve (NFER) has reached a significant milestone, surging to $23.1 billion, the highest level in over…
Naira Strengthens Against Dollar as Nigeria’s Currency Reserves Hit Three-Year High
The Nigerian naira gained significantly against the US dollar, marking its highest appreciation in two weeks, following a boost in…
SEC Warns of Severe Penalties for Ponzi Scheme Operators in Nigeria
The Securities and Exchange Commission (SEC) has issued a strong warning to promoters and operators of Ponzi schemes in Nigeria,…
Telecom Operators Turn to Edge Computing to Accelerate AI Adoption in Nigeria
Telecom operators worldwide are embracing edge computing to manage the surge in AI-driven data traffic, and Nigeria is no exception.…
Equinix Expands Data Center in Lagos to Boost Nigeria’s Digital Economy
Equinix, formerly known as MainOne, has unveiled the expansion of its Lagos data center, LG2.3, to meet the rising demand…
Bank of Ghana Urges Continued Efforts to Tackle Inflation Amid Economic Growth
The Governor of the Bank of Ghana, Dr. Johnson Asiama, has stressed that while some progress has been made in…
Nigeria’s Foreign Exchange Reserves Surge to $23.11bn in 2024
Nigeria’s foreign exchange reserves have surged to $23.11 billion at the close of 2024, marking the highest level in over…
Business Confidence Hits 14-Month High as Inflation Eases in Nigeria
Business confidence in Nigeria reached its highest point in 14 months in March, as businesses experienced rising demand for their…
Tinubu Sacks Kyari, Akinyelure, Appoints Bayo Ojulari As New GCEO Of NNPCL
In a significant shake-up, President Bola Tinubu has approved the reconstitution of the Nigerian National Petroleum Company (NNPC) Limited’s board.…
Naira-for-Crude Deal Faces Uncertainty as Dangote Refinery Imports Record Quantities of Oil
The Federal Government’s naira-for-crude policy, aimed at stabilizing fuel prices and the foreign exchange market, may continue despite uncertainty over…
Nigeria’s New Capital Market Laws Recognize Cryptocurrencies as Securities
Nigeria has officially recognized cryptocurrencies and other virtual assets as securities under its new capital market laws, marking a significant…
BoG Unveils New Measures to Strengthen Liquidity Management- Ghana
The Bank of Ghana (BoG) has introduced additional measures aimed at tightening liquidity management within the economy. This move is…
CBN Restructures Pre-shipment Inspection Agent Allocations to Improve Efficiency in Oil and Gas Sector
The Central Bank of Nigeria (CBN) has launched a comprehensive restructuring of the allocation of terminals to Pre-Shipment Inspection Agents…
Nigerian Stock Market Gains N3.49 Trillion in Q1 2025 Amid Sectoral Performance Variations
The Nigerian Exchange (NGX) experienced a significant growth in market capitalization, gaining N3.49 trillion in the first quarter of 2025.…
Nigeria’s Forex Inflows Reach $17bn Amid Economic Growth in Q4 2024
Nigeria’s net foreign exchange (forex) inflows reached $17.39 billion in Q4 2024, marking a significant increase driven by strong autonomous…
Telecom Infrastructure Under Siege: Vandalism and Theft Disrupting Nigeria’s Network Services
Telecommunication infrastructure in Nigeria is facing persistent attacks, including fibre cuts, vandalism, and theft, disrupting the network stability for millions…
Investment and Securities Act Passage Receives Widespread Praise, Set to Boost Nigeria’s Financial Market
The recent passage of the Investment and Securities Act (ISA) has garnered significant approval from key stakeholders in Nigeria’s financial…
Surge in Personal Loans Amid Economic Pressures – CBN Report
In its Fourth Quarter 2024 Economic Report, the Central Bank of Nigeria (CBN) revealed that Nigerians secured N470 billion in…
Naira Depreciates by 2.5% in March Amid Flat External Reserves
In March 2025, the naira experienced a 2.5% depreciation against the US dollar in the official foreign exchange market. The…
Nigeria’s External Debt Hits N66.14 Trillion in Q3 2024 Amid Growing Fiscal Pressures
In the third quarter of 2024, Nigeria’s external debt reached N66.14 trillion (approximately $43.03 billion), representing 23.14% of the nation’s…
Nigerians Borrow N470 Billion in Personal Loans Amid Economic Pressures – CBN Report
The Central Bank of Nigeria (CBN) has disclosed that Nigerians took out a total of N470 billion in personal loans…
Nigerian Stock Market Gains N3.5 Trillion in Q1 2025 Amid Strong Corporate Earnings and Federal Reforms
The Nigerian stock market saw an impressive surge in the first quarter of 2025, with a gain of N3.49 trillion.…
Offshore Investment Withdrawals Impact Nigerian Stock Market as Foreign Participation Declines
Concerns are mounting over the significant decline in foreign investment in the Nigerian Exchange Limited (NGX), as offshore investors withdrew…
Sam George Advocates for Inclusive AI Integration to Drive Ghana’s Development
Ghana’s Minister of Communication, Digital Technology, and Innovation, Samuel Nartey George, has emphasized the importance of actively integrating artificial intelligence…
Nigeria Secures $500 Million World Bank Loan to Boost Economic Resilience
Nigeria has secured a $500 million loan from the World Bank to address its ongoing economic challenges through the Community…
Headline: Interbank Rate Hits Five-Year High as CBN Tightens Liquidity to Combat Inflation
In January 2025, Nigeria’s interbank lending rate surged to 28.58 percent, marking a five-year high as the Central Bank of…
General Insurance Industry Contributes 14.4% More to Nigeria’s GDP in 2024
The Nigerian general insurance industry contributed N349.01 billion to the nation’s economy in 2024, marking a 14.4% year-on-year increase from…
IMF Urges Nigeria to Prioritize Cash Transfers for Vulnerable Households
The International Monetary Fund (IMF) has called on the Nigerian government to expedite the completion of its cash transfer program…
Nigeria Accelerates Digital Trade Agenda Under AfCFTA, Seeks Global Partnerships
Nigeria is intensifying its efforts to expand digital trade under the African Continental Free Trade Area (AfCFTA), with a strong…