President Bola Tinubu has reportedly dropped an influential former governor as an ambassador designate to a European country, hours after his name was announced.
The Nigerian currency slightly strengthened against the US dollar in NAFEM on Tuesday but weakened against the euro and pound, amid mixed market movements.
Elon Musk nears $800 billion as xAI's valuation skyrockets to $250 billion, while Nigerian billionaires, led by Aliko Dangote, reshape Africa's wealth landscape.
Nigerian banks recorded higher loan defaults in the fourth quarter of 2025, as high interest rates and weak incomes hurt borrowers’ ability to repay.
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 $714.2 billion.
Banks have begun deducting new charges, including 7.5% Value Added Tax on electronic service fees, prompting customers to express concern over rising costs.
The CBN is set to open Nigerian Treasury Bills worth about N1.15 trillion for investor subscription this week, as it continues to manage liquidity and borrowing.
The CBN has disclosed that 20 deposit money banks have successfully met the new capital requirements introduced under the ongoing banking recapitalisation programme.
Black market pressure pushed the naira to N1,490/$, deepening forex stress, widening gaps, exposing volatility, and highlighting street market tension.
Jerry Eze launches a $300,000 grant programme for young Nigerian entrepreneurs, offering a boost to 100 people in fields like agriculture and technology.
The naira strengthened at the NFEM last week, gaining modestly as improved liquidity and calmer trading conditions helped reduce volatility across markets.
Money
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