The Nigerian government, through the Ministry of Finance, has suspended the controversial 4% Free-On-Board charge introduced by the Nigeria Customs Service.
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Dollar falls to N1,484 in official window, naira appreciates in parallel market
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FG disburses N330bn: 7 million poor households to get cash transfers before year-end
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Indie studio bets on new game after buying freedom from Sega
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Depot owners protest as Dangote slashes petrol price by N259
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Will Nigerians without tax ID be barred from operating bank accounts? FG clarifies
Economy Latest News
German central bank cuts growth forecasts as headwinds intensify
Germany's central bank on Friday sharply downgraded its growth forecasts for next year and 2026, predicting a prolonged period of weakness for Europe's biggest economy as it battles multiple headwinds. For 2026 it forecast growth of 0.8 percent, down from a 1.4 expansion expected previously.
UK's Royal Mail hit with fine by regulator over delivery delays
UK postal operator Royal Mail has been fined £10.5 million ($13.3 million) for delays in delivering mail for the 2023/2024 financial year, Britain's communications regulator Ofcom said Friday. Britain's communications regulator has previously proposed that Royal Mail cut delivery to five days a week, or even just three days, potentially saving the company hundreds of millions of pounds.
UK economy unexpectedly shrinks again in October
Britain's economy shrank for the second consecutive month in October, official data showed Friday, dealing a blow to the Labour government that has made economic growth a priority. Analysts have attributed part of the decline to uncertainty after the Labour government warned of "tough" measures in its budget at the end of October.
CBN releases new exchange rate as naira gains against the dollar in all markets
The Nigerian currency, the naira, gained in all segments of the foreign exchange markets on Thursday, December 12, 2024, after pausing briefly in the EFEMS.
Asian markets retreat as China pledges fail to spark excitement
Asian markets fell Friday as China's latest vows to boost the beleaguered economy failed to stir much excitement, while traders looked ahead to a key Federal Reserve policy meeting next week.
Google renews push into mixed reality headgear
Google is ramping up its push into smart glasses and augmented reality headgear, taking on rivals Apple and Meta with help from its sophisticated Gemini artificial intelligence. The market has evolved since then, with Meta investing heavily in a Quest virtual reality headgear line priced for mainstream adoption and Apple hitting the market with pricey Vision Pro "spacial reality" gear.
Virgin Galactic eyes possible expansion into Italy
US space tourism company Virgin Galactic announced Thursday it is exploring the possibility of opening a new base in Italy, potentially bringing crewed launches to Europe for the first time. The company competes in the suborbital space tourism market with Jeff Bezos's Blue Origin.
Top 5 African countries Nigeria imported from in 2024, data shows products, import amount
Recent data from the National Bureau of Statistics (NBS) has revealed Nigeria's top trading partners in 2024. An NBS report places South Africa at the top of Africa.
Swiss central bank announces big rate cut to boost economy
The Swiss central bank announced an unexpectedly large interest-rate cut on Thursday, citing rising "uncertainty" about the economic outlook due to the potential impact of Donald Trump's policies and political turmoil in Europe. In particular, the future course of economic policy in the US is still uncertain, and political uncertainty has also risen in Europe," it said.
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