Nigeria finds itself grappling with a formidable economic challenge as inflation continues its upward trajectory. According to the National Bureau of Statistics, headline inflation surged from 29.9% in January to…
Category: Business
NGX: MTNN, GTCO, JBERGER, Others Top List Of Potential Stocks This Week
Investors are gearing up for another round of trading as the Nigerian Exchange (NGX) prepares to open its doors for the week ahead. With the market already showing signs of…
U.S. Chamber Urges Biden To Secure Release Of Binance Officials Detained In Nigeria
The United States Chamber of Digital Commerce has issued a plea to President Biden, urging him to utilize all available diplomatic avenues to secure the release of two Binance officials…
Investors Regain Confidence as NGX Gains N390bn
Following a rollercoaster ride in recent trading sessions, the NGX market capitalization witnessed a surge, soaring by N390 billion to reach N54.71 trillion by the session’s close. The notable upswing…
$26bn Crypto Fraud Allegations: Nigerian Govt Investigates Binance
The Nigerian government has launched an investigation into the operations of Binance, a cryptocurrency exchange company, following allegations of $26bn Crypto Fraud Allegations This move comes after the Nigerian Communications…
FX Debt: Why CBN Is Still Owing 5 Banks- Cardoso
Governor Olayemi Cardoso of the Central Bank of Nigeria (CBN) has addressed the ongoing issue of foreign exchange (FX) debt owed by banks, assuring stakeholders of progress and imminent resolution.…
Nigerian Exchange Witnesses Persistent Sell-offs; Investors Lose N720bn
Wednesday’s trading session on the Nigerian Exchange marked the third consecutive day of bearish trends, causing a significant loss of N720 billion to investors. The persistent sell-offs have now accumulated…
Cryptocurrency: Nigerian Govt Detains 2 Binance Executives Amidst Crackdown
The Nigerian government has reportedly detained two senior executives of Binance, a cryptocurrency exchange, as part of its efforts to regulate the crypto market and curb illicit financial activities. Following…
Naira Appreciates To N1,609/$1 At Official Market Amidst CBN Guidelines
The Nigerian Naira saw a modest appreciation against the US dollar on Wednesday, climbing to N1,609 from N1,615.94 the previous day, marking a 0.37% increase. This uptick follows a series…
Subsidy Removal Spurs 50% Drop in Petrol Imports, says Nigerian Govt
The Nigerian government has revealed a significant decline in petrol imports since the removal of subsidy on the commodity, indicating a pivotal shift in the nation’s fuel dynamics. Speaking at…