CBN Intervenes in FX Market as Naira Struggles Amid Trump Tariffs and Oil Price Drops
The Central Bank of Nigeria (CBN) stepped in to stabilize the foreign exchange market on Friday by selling $197.71 million…
Category: Local
Hoodlums Vandalize Major Gas Pipeline in Bayelsa, State Government Vows Action
In a recent act of vandalism, suspected oil thieves have attacked the Ogboinbiri/Obiobi 24-inch gas pipeline, located between Angiama and…
NNPC Appoints New Management Team, Ojulari Takes Over from Kyari
The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially welcomed its new Group Chief Executive Officer (GCEO), Mr. Bashir…
CBN May Slow Down Reserve Accumulation to Stabilize Naira, JPMorgan Predicts
JPMorgan analysts have suggested that the Central Bank of Nigeria (CBN) may reduce its pace of absorbing foreign inflows into…
Nigerian Stock Market Experiences Minor Decline in Holiday-Shortened Week
The Nigerian stock market experienced a slight drop of 0.14% in the trading week that concluded on Friday, April 4,…
Tinubu Appoints Ayo Sotinrin as New MD of Bank of Agriculture
President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately. The…
Nigeria Seeks $10.5 Million Loan from World Bank to Boost CBN’s Capacity and Payment Infrastructure
Nigeria has approached the World Bank for a new loan of $10.5 million to enhance the technical capacity of the…
FCMB Records N111.9bn Profit Before Tax for 2024, Announces Strong Growth
First City Monument Bank (FCMB) posted a remarkable Profit Before Tax (PBT) of N111.9 billion for the financial year ending…
IpNX and NCC Strengthen Collaboration to Drive Nigeria’s Broadband Growth
IpNX, a leading Nigerian ICT company and connectivity provider, is deepening its collaboration with the Nigeria Communications Commission (NCC) to…
Nigerian Breweries Reports N1.07 Trillion Revenue Amid Economic Challenges
In 2024, Nigerian Breweries achieved a significant revenue of N1.07 trillion, nearly doubling its 2023 performance of N599.5 billion. However,…
Nigeria Officially Recognizes Cryptocurrency as Securities in ISA 2025
Nigeria has officially recognized cryptocurrency and digital assets as securities for the first time with the enactment of the Investment…
Naira Depreciates Amid Trump’s New Trade Tariffs and Global Market Instability
The Nigerian naira experienced a significant decline against the US dollar on Thursday, following US President Donald Trump’s announcement of…
Telcos Invest in Network Upgrades Amid Tariff Hikes to Satisfy Nigerian Customers
Telecom operators in Nigeria are embarking on major network infrastructure upgrades to address growing frustrations among customers due to poor…
Stakeholders Praise ISA 2025 as a Milestone for Nigerian Capital Market Growth
Key stakeholders in Nigeria’s capital market have expressed strong support for the recently signed Investments and Securities Act 2025 (ISA…
Softening Inflation Fuels Private Sector Growth to 54.3 in March 2024
Private sector growth in Nigeria saw a significant uptick in March 2024, with the Stanbic IBTC Bank Purchasing Managers’ Index…
Obasanjo’s $700 Million Investment in Cameroon Sparks Concerns Over Nigeria’s Business Climate
Former Nigerian President Olusegun Obasanjo, through his firm Agro-Allied Business Ltd (OABL), is set to invest $700 million in Cameroon’s…
MRS Oil Nigeria Forecasts N2.93bn Q2 Profit Amid Delisting Plans from NGX
MRS Oil Nigeria Plc has projected a profit after tax of N2.93 billion for Q2 2025, according to its financial…
Ghana’s Inflation Rate Slows to 22.4% in March 2025
Ghana’s inflation rate showed signs of moderation in March 2025, easing to 22.4% from 23.1% in February. This marks a…
IMF Begins Fourth Review Mission in Ghana Amid Economic Reforms
The International Monetary Fund (IMF) has launched its fourth review mission in Ghana under the country’s Extended Credit Facility (ECF)…
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…
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…