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Global oil markets swung sharply upward on Wednesday, recovering five per cent after a brief retreat to $88 per barrel the previous day, as the conflict involving the United States, Iran, and Israel continued to drive volatility across energy markets and its consequences rippled directly into Nigeria’s fuel economy. Brent crude climbed to $92.43…
The Central Bank of Nigeria has extended the deadline for commercial banks to automate their anti-money laundering systems. Lenders now have 18 months to meet these baseline standards, while smaller financial institutions have two years. This shift moves the goalposts from a previously proposed 12-month window. The apex bank wants every transaction under its watch…
The Nigerian Exchange Limited closed Tuesday in negative territory, as investors moved to lock in gains from a sustained rally, triggering a broad sell-off that reversed Monday’s advances and shaved nearly three-quarters of a trillion naira from the market’s total value in a single session. The benchmark All-Share Index fell by 1,130.87 points, settling at…
Generative artificial intelligence is poised to reshape global labour markets, but new data from the International Labour Organisation confirms that women will bear a disproportionate share of the disruption, with female-dominated occupations facing nearly twice the exposure risk of male-dominated roles. The findings, published in the research brief titled “GenAI, Occupational Segregation and Gender…
The Nigerian equities market closed the first week of March 2026 on a bullish trajectory, as the All-Share Index (ASI) surged 2.14% week-on-week to settle at an all-time high of 196,968.15 points. This rally, which added approximately ₦2.67 trillion to investor wealth, was primarily fueled by a dramatic spike in global crude oil prices. As…
The Central Bank of Nigeria (CBN) has ordered all commercial banks to undergo rigorous stress tests starting April 1, 2026. This directive arrives as the industry enters the final stretch of its recapitalisation journey, with a March 31 deadline for meeting new capital floors. The apex bank intends to measure how lenders would survive “extreme…
The Federal Government has issued new presumptive tax regulations designed to simplify compliance for millions of micro, small, and medium enterprises (MSMEs). Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the framework on Wednesday, framing it as a “structured pathway” for informal businesses to enter the formal economy. The rules replace…
Nigerian importers and exporters are facing a period of intense economic turbulence as the escalating Middle East conflict upends global maritime trade. Local shipping stakeholders warned on Tuesday that freight rates could surge by 40 per cent as major carriers abandon the Suez Canal. The Sea Empowerment and Research Center (SEREC) further cautioned that marine…
Uber Technologies released a complex fourth-quarter financial report that left Wall Street investors visibly shaken. The ride-hailing giant recorded a robust twenty percent jump in total quarterly revenue performance. However, this growth failed to mask a significant decline in the company’s net income levels. Markets responded immediately by pushing share prices downward during early trading…
Access Bank Plc has appointed Mrs. Ifeyinwa Osime as its new Board Chairman. She succeeds Paul Usoro, SAN, who retired after his statutory tenure ended recently. The financial powerhouse announced this leadership transition in a corporate filing on Tuesday. Furthermore, this move strengthens the bank’s pursuit of becoming a respected global institution. Osime joined the…
