The Nigerian currency, the naira, gained about N37 in the last 10 days, making dollar hoarding risky, as the Central Bank of Nigeria (CBN) continues to intervene.
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Do you need a tax ID to open a bank account in Nigeria? Here’s the truth
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Over 41,000 Nigerians to benefit as NDE expands Renewed Hope employment scheme
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Naira rally narrows FX gap to just N10 as CBN targets $1bn monthly remittances
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Naira hits highest level in months at N1,497 per dollar, black market rates appreciate
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New exchange rate: CBN crashes dollar as naira appreciates to N1,506 in official window
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Nintendo fans stoked for Switch 2 'mega launch'
With shops planning midnight launch parties after a run on pre-orders, Nintendo releases the Switch 2 on Thursday, hoping to score record early sales for a games console. "For us, this will be a record in terms of first-day sales for a games console," said Charlotte Massicault, director of multimedia and gaming at France's Fnac Darty.
Lagos orders mandatory registration of hotels, beaches, others on newly launched platform
The commissioner urged hotel operators, beach operators and other businesses in the hospitality sector to comply with the directive, or risk facing sanctions.
Germany unveils tax breaks to boost stagnant economy
Germany's government on Wednesday put forward a sweeping package of corporate tax breaks aimed at boosting investment and pulling Europe's largest economy out of the doldrums. Under the plans, Germany's corporate tax rate would fall by one percent a year from 2028 to reach 10 percent, down from 15 percent.
Czechs sign nuclear deal with S.Korea firm KHNP: PM
A Czech state-run company signed Wednesday a deal with South Korea's KHNP to build two nuclear reactors in the EU country after a court dismissed a bid by France's EDF to block the deal. KHNP is due to build the two units at the southern Czech nuclear plant of Dukovany run by the state-run CEZ group.
US private sector hiring sharply slows, drawing Trump ire
US private sector hiring hit its slowest pace since 2023 in May, according to data Wednesday from payroll firm ADP, significantly missing expectations in a month where all eyes are on the effects of President Donald Trump's trade war. Private sector employment rose by 37,000 jobs last month, slowing from the 60,000 figure in April.
EVs boost German auto sales, Tesla falls again
A jump in electric car sales helped give a slight boost to Germany's troubled auto market last month, official data showed Wednesday, although Elon Musk's Tesla fared poorly again. But electric car maker Tesla, which has suffered across Europe due to anger that Musk played a role as a key advisor to US President Donald Trump, saw its sales slide again, this time by 36 percent.
EU gives Bulgaria green light to adopt euro in 2026
The EU gave the green light on Wednesday for Bulgaria to adopt the euro on January 1, 2026, in a "historic" step for the southeastern European country set to become the 21st member of the single currency area.
High-cost loans, Trump turmoil hurting Africa, says G20 panel chief
Critically needed economic growth in Africa is being held back by high borrowing costs imposed by international lenders, with unpredictable US policy changes adding to the strain, the head of the G20 panel on the continent said.
US doubles steel, aluminum tariffs as OECD ministers gather
The United States doubled steel and aluminum tariffs Wednesday, casting a pall on a gathering of OECD ministers as President Donald Trump's intensifying trade war weighs on the world economy. Despite the doubling of steel and aluminum tariffs Wednesday, imports from the UK will remain at 25 percent for now, while both sides work out duties and quotas in line with the terms of their trade pact.
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