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Russia on Friday warned against a military intervention in Niger, a day after West African leaders said they would muster a “standby” force in their efforts to return the president toppled by a coup. “We believe that a military solution to the crisis in Niger could lead to a protracted confrontation in that African country, […]

The Central Bank of Nigeria (CBN) has taken a significant step towards enhancing the efficiency of the payment and settlement system by releasing an updated list of accredited cheque printers and personalizers. This initiative, conducted in collaboration with the MICR Technical Implementation Committee (MITC), aims to ensure that payment processes are streamlined and meet the […]

The Central Bank of Nigeria (CBN) has released its audited financial statements for 2016-2022 as investigation on its operations continues. The financial sector regulator recorded a profit of N65.63 billion in 2022 — more than double the figure it reported a in the previous year (N31.04 billion). The apex bank said the financial statements of […]

As Nigeria grapples with various economic challenges, an uproar has erupted following reports that each of the 109 serving senators received a N2 million allowance before embarking on a seven-week vacation. The revelation has ignited widespread criticism as Nigerians question the timing and necessity of such an allowance amidst the country’s economic struggles. A senator […]

*Our Lives, Livelihoods Endangered As the Nigerian military task force and pipeline surveillance companies intensify their efforts against pipeline vandalism, illegal bunkering activities, and various forms of criminality, the Niger Delta Youth Congress (NDYC) has strongly criticized the blowing up of stolen crude oil-laden vessels. This condemnation comes in the wake of escalated environmental devastation […]

DMO Opens N360bn FGN Bonds for Subscription The Debt Management Office, on behalf of the Federal Government of Nigeria (FGN), has opened N360 billion bonds for subscriptions via its monthly auction schedule for August 14, 2023. According to an offer circular released by the DMO, the first is an April 2029 FGN bond valued at […]

DR Congo Pushes Interest Rate from 11% to 25% The central bank of the Democratic Republic of Congo raised its benchmark interest rate to 25% from 11% during an extraordinary meeting held on August 8th, 2023, bringing borrowing costs to the highest since October 2011. The country’s currency has spiraled downward, losing its purchasing power […]

UBA Partners Medplus, Oriki, i-fitness to Enhance Customer Experience, Healthy Lifestyle Africa’s Global Bank, United Bank for Africa (UBA) Plc, has entered into exciting partnerships with three health-based organisations aimed at creating robust synergy to enhance customer experience. UBA’s partnership with MedPlus Pharmacy Nigeria, I-Fitness Gym Nigeria, and Oriki Spa and Wellness Centre is expected […]

EU to Consider U.S. Order on Tech Curbs in China EU executive says the European Commission is set to analyse the U.S. ban on new U.S. investment in China in sensitive technologies such as computer chips. The executives said on Thursday that they are also in close contact with the U.S. administration. U.S. President Joe […]Read More

Oil Rallies Despite Weak Demand Outlook Oil prices saw marginal gains amid much fluctuation on Thursday after climbing to multi-month highs on disappointing economic data both from China and the US, casting doubts on the demand outlook in the largest oil-consuming countries. International benchmark Brent crude traded at $87.69 per barrel, a 0.16% gain from […]

CBN Auction: Rates on Nigerian Treasury Bills Crash The Central Bank of Nigeria (CBN) has reversed its higher rates on Treasury bills the monetary authority rolled over at the primary market auction (PMA) conducted on Wednesday.  The apex bank auction results showed that the 91-day Treasury bill’s spot rate fell to 5%, 100 basis points […]

West African Economic Growth Decelerates- AfDB Report West Africa experienced slower economic growth in 2023, except for Cape Verde, The Gambia, Guinea, Mali, and Niger, says the African Development Bank (AfDB). Overall, the region’s gross domestic product growth declined to 3.8% year on year in 2022, AfDB said this in its 2023 West Africa Economic […]