Month: February 2024

$26bn Illicit Flows Pass Through Binance Nigeria – Cardoso The Central Bank of Nigeria (CBN) governor Yemi Cardoso says over $26 billion in illicit flows has passed through the crypto…

NGX Slumps as Investors React to Aggressive Rate Hike The Nigerian Exchange (NGX) slumped on Tuesday as equities investors reacted negatively to aggressive interest rate hikes by the Central Bank.…

No Weekly FX Sales to Bureau De Change – CBN The Central Bank of Nigeria (CBN) has denied a move to return to weekly forex sales to Bureau De Change…

Removal of Petroleum Subsidy Challenging but for Long Term Energy Security – Tinubu President Bola Tinubu on Tuesday said the decision to remove petroleum subsidy was a challenging one, but…

CBN Hikes Interest Rate by 4% The Monetary Policy Committee (CBN) of the Central Bank of Nigeria (CBN) increased the benchmark interest rate by 4% at the end of the…

UMG Buys Majority Stake in Mavin Records Universal Music Group (UMG) has purchased a majority stake in Mavin Global, a record label founded by Don Jazzy. Mr Lucian Grainge, Chief…

NGX Down Midday over Big Banks Stock Selloffs The Nigerian Exchange (NGX) equities market capitalisation is trending downward during the intraday trading session as a raft of selling rallies hit…

CSL Predicts 100bps Rate Hike as MPC Concludes Meeting CSL Stockbrokers Limited said the monetary policy committee of the Central Bank of Nigeria (CBN) is likely to satisfy its hawkish…

Oil Prices Increase as China Boosts Crude Buying Oil prices edged higher in the global commodities market amid expectations of stronger spot crude purchases in China and a stronger physical…

TotalEnergies, Shell, Chevron Double Down on African Oil, Gas Leading IOCs are affirming their commitment to African oil and gas – a positive indication for service providers, drilling contractors and…