The naira’s latest gain may look like another small move in the foreign exchange market, but the more important story is what the Central Bank of Nigeria is changing behind the scenes. The CBN has removed restrictions that previously prevented banks active in the foreign exchange market and government securities from accessing its Discount Window….
Nigerian TikTok star Peller has sparked another debate about young marriage after pushing back at critics who believe he and Jarvis are too young to settle down. In a viral video, Peller argued that the reason many parents discourage their children from marrying early is ultimately economic. “The reason your parents tell you not to…
Liverpool could soon have some of the biggest names in global business sitting around the ownership table. A consortium led by British-Indian businessman Amit Bhatia is reportedly closing in on a major minority investment in Liverpool, with Amazon founder Jeff Bezos and Facebook co-founder Eduardo Saverin among the investors involved. The stake could be around…
The family of late Nigerian singer Destiny Boy has revealed that they have struggled to access his phone and bank account months after his death, exposing a problem that is becoming increasingly common in a digital economy: what happens to your digital life when you die? Destiny Boy, whose real name was Afeez Adesina, died…
Nigeria is facing renewed economic pressure as exceptionally high interest rates combine with renewed weakness in the naira, raising concerns over borrowing costs, business activity and household purchasing power. The Central Bank of Nigeria has maintained its benchmark Monetary Policy Rate at 26.5 per cent, following its July 20–21 Monetary Policy Committee meeting. The decision…
Nigeria’s economy received a modest boost on Monday as the naira remained relatively stable in the official foreign exchange market while major fuel suppliers announced fresh reductions in petrol depot prices following Federal Government intervention. The naira continued to trade within a stable range at the Nigerian Foreign Exchange Market (NFEM), reflecting sustained liquidity and…
Microsoft has reportedly begun a fresh round of global job cuts affecting just under 2.5% of its workforce, as the tech giant restructures operations while continuing to invest heavily in artificial intelligence infrastructure. The layoffs, expected to impact thousands of employees across multiple divisions, are part of broader cost-cutting efforts taking place across the technology…
The Central Bank of Nigeria (CBN) has directed all banks and other regulated financial institutions to immediately freeze accounts, assets, and financial transactions linked to six individuals and four Bureau De Change (BDC) operators over alleged involvement in terrorism financing. The directive, contained in a circular dated June 24, 2026, follows an update to the…
The Nigerian naira has come under renewed pressure after the United States dollar strengthened sharply following a more hawkish policy signal from the US Federal Reserve, pushing the local currency into one of its weakest 12-month periods. The dollar rally was triggered by growing expectations that the Federal Reserve could maintain higher interest rates for…
Nigerians hoping for immediate relief at filling stations after a fresh petrol price reduction by the Dangote Petroleum Refinery have been met with continued high pump prices, as many retailers maintain existing rates while waiting to clear older fuel tock. The refinery recently reduced its ex-depot price for Premium Motor Spirit (PMS), commonly known as…
