There is no going back on rebuilding credibility through orthodox monetary policy, transparency and consistency, the governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said. At an engagement before the commencement of the International Monetary Fund (IMF) and World Bank Group (WBG) Spring Meetings today, the CBN partnered with J.P. Morgan, the […]
Gold reached $3,500 an ounce for the first time Tuesday, as US President Donald Trump’s tariffs and verbal attack against the Federal Reserve sent investors snapping up the safe haven asset. The precious metal reached an all-time high $3,500.10 an ounce before pulling back to $3,467.87.
MTN plans to launch a new streaming platform for mobile and fixed broadband users across the continent, a development that will challenge current market players like Netflix and Amazon Prime Video. MTN will achieve this through a partnership with global video software leader, Synamedia. The collaboration will leverage Synamedia’s cloud-based technology to deliver a mix […]
Mounting fears of a global recession, driven by aggressive tariff policies in the United States, and a wave of economic uncertainty are sending shockwaves through stock markets worldwide, with the Nigerian Exchange Limited (NGX) not exempted. But Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, insists that the recent 14 per cent […]
Tiktok has removed 2.4 million videos posted by Nigerian users in the fourth quarter of 2024 for violating its content policy. TikTok, owned by Bytedance, revealed that Nigeria was among the top 50 countries where videos violating its policies emanated from in Q4. The platform, which disclosed this in its latest Community Guidelines Enforcement report, […]
Nigeria’s net foreign exchange reserves (NFER) was $23.11 billion at the end of last year, the Central Bank of Nigeria (CBN) has said. The value is $15.6 billion short of the current gross reserves, which are currently at $38.7 billion, a slight slip from the $40.2 billion it closed last year. There may be a […]
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the apex bank remains resolute in its commitment to maintaining order in the country’s foreign exchange market by identifying and eliminating bad actors whose activities undermine the stability of the naira. This came as findings showed that the naira depreciated slightly at the official […]
President of Dangote Group, Aliko Dangote, has said that his company decided to go back and invest in Ogun State because of the Governor Dapo Abiodun-led administration’s vision and deliberate policies that focus on attracting investors as well as the investor-friendly climate that exists in the state. Dangote, who stated this, yesterday, during a courtesy […]
The central parity rate of the Chinese currency Renminbi, or the Yuan, strengthened 45 pips to 7.1696 against the dollar on Wednesday. This is according to the China Foreign Exchange Trade System. The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before […]
The Federal Government is charting new ways to improve sanitary and phytosanitary (SPS) compliance to boost non-oil exports. Focusing on sesame and cowpea produce, both critical pillars of the economy, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said both produce contribute significantly to Nigeria’s foreign exchange earnings, and provide livelihoods for thousands of […]
