AfCFTA Implementation Lifts Intra-African Trade by 21%

AfCFTA Implementation Lifts Intra-African Trade by 21%

Nigeria’s trade volume with other African nations reached $9.02 billion in 2025, representing a 21% annual increase. Fresh data highlights the expanding influence of the African Continental Free Trade Area agreement on local commerce. Reduced tariff barriers have allowed local manufacturers to penetrate previously restricted regional markets. The surge helps diversify foreign earnings away from…

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Naira Holds Steady at N1,380 Against Dollar

Naira Holds Steady at N1,380 Against Dollar

The Nigerian naira opened the final trading week of June holding steady at N1,380.05 against the US dollar in the official foreign exchange market. Minor intra-day fluctuations settled quickly during early morning trading operations. This stability follows a sequence of aggressive liquidity interventions by monetary authorities throughout the month. Corporate buyers are matching their demands…

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Maximum Lending Rate Drops Gently to 34.78%

The maximum lending rate charged by Nigerian commercial banks softened marginally to 34.78% in May. Data from the Central Bank of Nigeria reveals a slight retreat from the 35.17% recorded in April. This moderate decline offers minor relief to highly leveraged corporate borrowers. Despite the drop, structural cost pressures remain exceptionally high across the domestic…

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Naira Weakens to N1,395 in Parallel Market

Foreign Exchange Turnover Surges 22% in June

Activity in the Nigerian foreign exchange market jumped by 22% in June, hitting a significant multi-month high. The surge reflects improved liquidity and increased capital inflows across official trading windows. Market dealers attribute the spike to aggressive dollar interventions by the central bank. Corporate buyers also accelerated their foreign exchange sourcing to clear mid-year import…

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INEC, Parties Clash Over Digital Candidate Uploads

INEC, Parties Clash Over Digital Candidate Uploads

The Independent National Electoral Commission is locked in a bitter dispute with political parties over portal access codes for candidate nominations. Opposition groups claim the commission is using technical delays to compromise the 2027 election timeline. Electoral officials insist that access tokens will only go to legitimate party executives. This digital bottleneck threatens to disrupt…

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