Economy - Page 3

Nigeria’s Forex Reserves Hit $41bn, Highest in 44 Months

Nigeria’s foreign exchange reserves rose to $41 billion on Tuesday, their highest level in 44 months, according to figures released by the Central Bank of Nigeria (CBN). The reserves are now sufficient to cover around 10 months of imports, marking a major

August 23, 2025

Economy·Headlines·News·News Update

Ibom Air Bans Passenger For Assaulting Crew Member On Uyo–Lagos Flight

Ibom Airlines Limited has placed a permanent travel ban on a passenger, identified as Comfort Emmanson, after she allegedly assaulted a crew member during a flight. A viral video showed Emmanson repeatedly slapping a Purser after she was reportedly told to switch

by News Editor

August 11, 2025

News Update·Economy·Foreign News

How Bank Of England Rate Cut Could Impact Nigeria’s Economy

The Bank of England has cut its key interest rate to 4 percent,. the lowest in two years — in a move that reflects growing concern over the United Kingdom’s economic outlook and the persistence of global inflationary pressures. The decision, which

by News Editor

August 8, 2025

Economy

Foreign Investors Dump ₦576bn in Nigerian Stocks Amid Market Volatility

LAGOS, August 7, 2025 — Foreign investors pulled a staggering ₦576.09 billion out of the Nigerian stock market in the first half of 2025, marking an 85% jump from the ₦311.41 billion withdrawn during the same period in 2024, according to data

by News Room

August 8, 2025

News Update·Economy·Headlines·News

FG, China Partner On $2bn Maritime Strategy To Boost Vessel Ownership, Regional Hub Status

The Federal Government of Nigeria, through the Ministry of Marine and Blue Economy, is pushing forward a Nigeria–China Maritime Strategy designed to attract over $2 billion in shipping investments, boost indigenous vessel ownership, and establish Nigeria as a leading maritime hub in

by News Editor

August 7, 2025

Economy·Headlines

Dangote Unveils Ambitious Plans for Olokola Seaport Development

In a bold move towards enhancing Nigeria’s industrial landscape, Aliko Dangote has announced the submission of an application for the establishment of a large-scale seaport in Olokola, Ogun State. This initiative, which aligns with his long-term vision for the region, aims to

by News Room

August 7, 2025

Foreign News·Economy·News·News Update

Trump Imposes Additional 25% Tariff On Indian Goods Over Russian Oil Ties

US President Donald Trump on Wednesday approved a new order imposing an extra 25 percent tariff on Indian imports, citing New Delhi’s ongoing purchase of Russian oil a major source of funding for Moscow’s war in Ukraine. The new tariff, which will

by News Editor

August 6, 2025

Economy·News·News Update

NAICOM Lauds Tinubu For Signing NIIRA 2025 Into Law

The National Insurance Commission (NAICOM) has commended President Bola Tinubu for assenting to the Nigerian Insurance Industry Reform Act, 2025 (NIIRA 2025). President Tinubu signed the NIIRA 2025 into law on Tuesday. In a statement issued by the Commission, NIIRA 2025 was

by News Editor

August 6, 2025

Headlines·Economy·News·News Update

Naira Appreciates Against US Dollar At Official Market, CBN Releases Latest Exchange Rates

The Nigerian currency, the naira, appreciated against the United States dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, August 4, 2025. New data showed that the naira gained N1.29 or 0.08% to close at N1,531.95, compared to N1,533.94/$1 exchange

by News Editor

August 6, 2025

Economy·Headlines·News·News Update

Tinubu Signs NIIR Bill Into Law, Boosts Financial Sector

‎President Bola Tinubu has signed the Nigerian Insurance Industry Reforms (NIIR) Bill 2025 into Law, marking a major step toward strengthening the financial sector and driving a one trillion dollar economy. ‎This was disclosed in a statement by Presidential Spokesperson, Mr Bayo

by News Editor

August 6, 2025

Economy·Headlines·News·News Update

SEC DG Raises Alarm Over $2.1bn Suspicious Crypto Transactions In West Africa

The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has expressed concern over the rising number of suspicious cryptocurrency-related transactions in West Africa, citing a report by GIABA that recorded $2.1 billion in such activities across the region in 2024.

by News Editor

August 5, 2025

Economy·News·News Update

FirstBank Retains Top Spot as Nigeria’s Best Bank for ESG At 2025 Euromoney Awards

FirstBank, the West African premier financial institution and financial inclusion services provider, has emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, held recently in London. This marks FirstBank’s second consecutive win

by News Editor

August 2, 2025

News Update·Economy·News

GTCO Completes GDR Delisting From London Stock Exchange

Guaranty Trust Holding Company Plc (GTCO) has completed the cancellation of its Global Depositary Receipts (GDRs) listing on the London Stock Exchange (LSE). The company said in a notice filed at the Nigerian Exchange Group (NGX) that the shift from GDRs to

by News Editor

August 2, 2025

Economy

AFDB commits $1.2m to support Nigeria battery energy storage system

Abuja, July 30, 2025(NAN)The African Development Bank (AFDB) says it has committed 1.2 million dollars grant to support the feasibility study of the Nigeria Battery Energy Storage System (BESS). The grant is under AfDB’s under Energy Transition Catalyst Programme Dr Abdul Kamra,

by News Room

July 30, 2025

Headlines·Economy·News Update

CAC to Delist 100,000 Dormant Companies, Issues 90-Day Ultimatum

The Corporate Affairs Commission (CAC) has threatened to delist 100,000 companies from its register over prolonged inactivity and non-compliance with statutory requirements under the Companies and Allied Matters Act (CAMA). The move forms part of the Commission’s broader effort to sanitise Nigeria’s

by News Editor

July 30, 2025

Headlines·Economy

FG Records Bullish Investors Demand In July’s ₦186bn Bond Auction

The Debt Management Office (DMO) has announced the completion of its Federal Government bond auction, with about ₦186 billion allotted across two reopened bond offerings. According to figures released on the DMO website, the auction fetched ₦39.075 billion in total subscriptions for

by News Editor

July 30, 2025

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Economy - Page 3

Nigeria’s Forex Reserves Hit $41bn, Highest in 44 Months

Ibom Air Bans Passenger For Assaulting Crew Member On Uyo–Lagos Flight

How Bank Of England Rate Cut Could Impact Nigeria’s Economy

Foreign Investors Dump ₦576bn in Nigerian Stocks Amid Market Volatility

FG, China Partner On $2bn Maritime Strategy To Boost Vessel Ownership, Regional Hub Status

Dangote Unveils Ambitious Plans for Olokola Seaport Development

Trump Imposes Additional 25% Tariff On Indian Goods Over Russian Oil Ties

NAICOM Lauds Tinubu For Signing NIIRA 2025 Into Law

Naira Appreciates Against US Dollar At Official Market, CBN Releases Latest Exchange Rates

Tinubu Signs NIIR Bill Into Law, Boosts Financial Sector

SEC DG Raises Alarm Over $2.1bn Suspicious Crypto Transactions In West Africa

FirstBank Retains Top Spot as Nigeria’s Best Bank for ESG At 2025 Euromoney Awards

GTCO Completes GDR Delisting From London Stock Exchange

AFDB commits $1.2m to support Nigeria battery energy storage system

CAC to Delist 100,000 Dormant Companies, Issues 90-Day Ultimatum

FG Records Bullish Investors Demand In July’s ₦186bn Bond Auction

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