Dave Ibemere
4839 articles published since 20 Sep 2021
4839 articles published since 20 Sep 2021
The CBN data show Nigerian banks charge up to 60% on loans while paying as little as 2.7% on savings, widening the gap between borrowers and depositors.
The combined net worth of the world’s top 10 billionaires has soared past $2.4 trillion in 2026, led by the richest man, Elon Musk, whose fortune is $714.2 billion.
Banks have begun deducting new charges, including 7.5% Value Added Tax on electronic service fees, prompting customers to express concern over rising costs.
NNPC is unlikely to change petrol prices this week as depots cut rates to match Dangote’s N699, leaving Lagos cheapest and Gombe costliest nationwide.
Dangote Refinery drives Nigeria’s petrol supply growth, producing 32 million litres daily, whereas modular refineries contribute marginal diesel.
Black market pressure pushed the naira to N1,490/$, deepening forex stress, widening gaps, exposing volatility, and highlighting street market tension.
The Nigerian Exchange ended the week higher, with the ASI up 2.36%, market capitalisation rising to N106.35 trillion, led by Financial Services stocks.
A study by Renaissance Capital Africa (Rencap) has provided insights into the market valuation of banks in Nigeria, with Zenith Bank Plc emerging as the top pick.
Nigeria and Abu Dhabi Ports Group have signed a landmark MoU to enhance ports development, maritime logistics, and strengthen trade and economic cooperation.
Dave Ibemere
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