Nigeria picks former shell executive as new NNPC boss
Nigerian President Bola Ahmed Tinubu has appointed Bayo Ojulari, a former executive at Shell, to lead the state-owned oil company NNPC Ltd. This decision, announced by the presidency on Wednesday,…
Net FX reserves hit $23bn, new three year high
Nigeria’s net foreign exchange reserves (NFER) has increased to its highest level in over three years, reflecting the impact of recent measures by the Central Bank of Nigeria (CBN).In a…
Nigeria’s new investment act empowers SEC to access user data from telecom companies
The recently signed Investments and Securities Act (ISA) 2025 has enhanced the investigative powers of the Securities and Exchange Commission (SEC) with the authority to access user data from telecom…
FGN bond subscription decline by 3.12 trillion in Q1 2025
In the first quarter of 2025, investors in Federal Government bonds subscribed to a total of N2.83 trillion, a decrease from the N3.12 trillion recorded during the same period in…
Tinubu Signs Investments and Security Bills Into Law
President Bola Ahmed Tinubu has officially enacted the Investments and Securities Act (ISA) 2025, a significant legislative measure aimed at bolstering the regulatory framework of Nigeria's capital market. This new…
Uganda to build $4 billion Oil Refinery with new partnership
Uganda is developing its oil sector by signing a deal with UAE-based Alpha MBM Investments to build a $4 billion oil refinery in Kabaale, Hoima District. Under the terms of…
Mali, others impose 0.5% levy on imported goods from ECOWAS
Mali, Burkina Faso, and Niger have introduced a 0.5% levy on goods imported from the Economic Community of West African States (ECOWAS) including Nigeria.The three West African nations, all governed…
Ripple, Chipper Cash to boost cross border payments in Africa
Ripple, a top crypto-enabled payment solution, has announced a new partnership with Chipper Cash, to enhance seamless payments across Africa.With this partnership, both payment platforms will facilitate faster, more affordable,…
Nigeria’s money market liquidity hits 2.2 trillion
Liquidity in the Nigerian money market experienced a significant increase of 62.3 percent, reaching N2.2 trillion last week, according to a report by Afrinvest.The investment firm indicated that this rise…
SEC announces new measures to protect investors in Nigeria
The Security and Exchange Commission, SEC, has unveiled new measures to protect investors, reaffirming its commitment to the safety of Nigeria's capital market.According to the Director-General of SEC, Dr. Emomotimi…
