The Nigerian currency finally rebounded in the official foreign exchange market as dollar demand reduced and Nigeria's FX reserves rose to a five-year high.
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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Customer Service Week: How FIRS boss Adedeji transformed tax Sservice, Nigerians feel the change
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Prices of rice, tomatoes, other food items soars as retailers struggle with unpredictable costs
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CBN recapitalisation: Two national banks enter secret merger talks to beat the deadline
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Big win for naira: CBN reveals $8.6bn FX turnover as dollar inflows surge, reserves hit new high
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Chinese fabric exporters anxious for US trade patch-up
Surrounded by samples of silk and glittering tweed in one of China's largest fabric markets, textiles exporter Cherry said she was anxiously awaiting the result of trade talks with the United States this weekend. Sales to the United States made up 18 percent of China's total textiles and apparel exports in 2024, according to Moody's Ratings.
Asian stocks lifted by hopes for US-China talks after UK deal
Most Asian equities rose Friday on growing optimism that the worst of Donald Trump's trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend.
Former head of crypto platform Celsius sentenced 12 years
The founder and former CEO of bankrupt cryptocurrency trading platform Celsius, Alexander Mashinsky, was sentenced Thursday to 12 years in prison on fraud charges. Mashinsky, 50, pleaded guilty last December to securities fraud in a deal that reduced the level of charges he faced.
Lawmakers probe N200 billion CBN loans to 11 Discos, Details emerge
The House of Representatives have uncovered some shady areas in the CBN loan to 11 discos, and set up an investigative panel to dig up the details.
IMF lists outstanding charges to be paid as Nigeria clears $3.4 billion COVID-19 loan
Nigeria has been removed from the IMF debtor list after repaying the $3.4 billion loan. However, there are still payments to be made over the next few years.
US automakers blast Trump's UK trade deal
The Trump administration's latest trade deal with Britain unfairly penalizes US automakers that have partnered with Canada and Mexico, a trade group representing Detroit automakers said Thursday. The Detroit companies organized their supply chains around the 2020 US-Mexico-Canada Agreement (USMCA), which Trump negotiated in his first term.
Nigerians react as Dangote meets with the Bayo Ojulari-led NNPC team
The courtesy visit from the Dangote Refinery signifies a friendly handshake between the duo, but Nigerians are now eager to see how fuel prices would be affected.
What is in the new US-UK trade deal?
The "breakthrough" US-UK trade deal announced Thursday by President Donald Trump is the first agreement to be unveiled since he slapped steep tariffs on allies and adversaries alike on April 2. Under the deal announced Thursday, car export tariffs will be slashed to 10 percent on the first 100,000 cars shipped from Britain to the United States.
CBN releases new exchange rate as naira rebounds against dollar in official window
The naira has appreciated against the dollar in the official foreign exchange market on Thursday, May 8, 2025, trading at N1,608 per dollar from N1,612.
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