President Bola Tinubu has given a fresh update on the federal allocations going to state and local governments amid the controversies on the councils' autonomy.
Nigeria's banks face a March 2026 recapitalisation deadline. Top performers like Access and Zenith exceed targets, while others risk mergers or exits if they fail.
A recent ranking has shown the African countries with the strongest currencies in May 2025, as the Nigerian currency, the naira, fell after a week-long rise.
Mohammed Manga, director of information and public relations, has released a statement explaining the Ministry of Finance's position on Tinubu's loan request.
A German court on Wednesday rejected a climate case brought by a Peruvian farmer against energy giant RWE, but set a potentially important precedent on polluters' liability for their carbon emissions. The court, however, rejected Lliuya's claim against RWE, saying there was "no concrete danger to his property" from a potential flood.
The Federal Inland Revenue Service has continued its stakeholder engagement on the e-invoicing platform, targeting key players in manufacturing and oil and gas.
The Central Bank of Nigeria (CBN) has intervened again in the FX market, selling $50 million to authorised dealer banks as the naira depreciated in the FX market.
Asian equities wobbled Wednesday as investors struggled to track a Wall Street rally fuelled by forecast-beating US consumer confidence data, with a weak Japanese debt sale adding to worries about rising bond yields. Bonds yields rise and prices fall when demand is weak.
Auto giant Stellantis, whose brands include Jeep, Peugeot and Fiat, on Wednesday named company veteran Antonio Filosa as its new chief executive officer as the US-European group navigates US tariffs and slumping North American sales. Filosa, who has previously served as chief executive of the Jeep brand, was promoted to the role of chief operating officer for the Americas region in December.
China is not seeking to "replace" the United States as the top trading partner of Colombia, Beijing's ambassador to Bogota, whose president has announced a pivot to China, told AFP on Tuesday. "China is coming to offer our collaboration, not to replace anyone, nor seeking to take someone's place," Zhu Jingyang told AFP on the sidelines of a media briefing.
SpaceX is set Tuesday for the next test flight of its Starship megarocket -- the linchpin of founder Elon Musk's Mars ambitions -- after the vessel's last two outings ended in fiery explosions.
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