In a fresh update delivered today, Thursday, July 17, 2025, the Central Bank of Nigeria (CBN) mid‑market rate for the US dollar settled at approximately ₦1,525.69 per USD—a dip of 0.42% in the last 24 hours. Over the previous week, the dollar’s value saw minimal fluctuation, swinging between ₦1,524.25 and ₦1,541.62, averaging out at about
From May 2015 to May 2023, the Nigerian exchanges witnessed a remarkable surge in local currency terms—even as international investors saw gains evaporate once measured against the US dollar. The headline NSE All‑Share Index rallied handily when priced in naira, buoyed by occasional recoveries in oil prices and targeted policy interventions. Yet, when the same snapshot is
NEW YORK, July 16, 2025 – The largest known Martian meteorite ever discovered on Earth, weighing an astonishing 24.67 kilograms, has been sold at auction for $4.3 million, setting a new record for space rock sales. Identified as Northwest Africa (NWA) 16788, the rare meteorite was recovered in the Sahara Desert in Niger in late
The Securities and Exchange Commission (SEC) has revealed that it is currently investigating 79 suspected Ponzi schemes operating illegally across Nigeria, as part of its intensified crackdown on fraudulent investment operations. This disclosure was made over the weekend by the Director-General of the Commission, Lamido Yuguda, during a media briefing in Abuja. Yuguda expressed deep
Sterling Bank Plc has announced plans to raise $400 million through a combination of debt and equity instruments as part of efforts to enhance its balance sheet and expand its growth capacity. The bank disclosed this strategic move in a corporate notice issued to the Nigerian Exchange Limited, noting that the capital injection will support
In a significant development in international trade, U.S. President Donald Trump has declared that Indonesia will face a 19% tariff as part of a new trade deal between the two nations. The announcement, made on Monday, July 14, 2025, marks a shift in U.S.-Indonesia trade relations, with the U.S. seeking to address trade imbalances and
As Nigeria intensifies efforts to regulate the cryptocurrency industry, concerns are mounting that several digital asset businesses may struggle to survive under the emerging regulatory framework. The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have recently doubled down on enforcement measures targeting cryptocurrency exchanges, peer-to-peer (P2P) trading platforms, and digital
FirstBank has unveiled an advanced facial biometric solution on its FirstMobile app, designed to strengthen security and simplify user onboarding for Nigerians and diaspora customers alike. The new feature allows customers to register and activate the app using facial recognition, supported by anti‑spoof detection to guard against identity fraud The upgrade is especially helpful for
Africa’s richest man, Aliko Dangote, has officially submitted paperwork to construct what will become Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State—reviving a project shelved years ago. The development marks a significant return to the area after previous setbacks tied to policy hurdles and administrative obstacles During a courtesy visit to
The Nigerian stock market experienced a bullish surge as the All‑Share Index closed at ₦124,446.8 on July 10, 2025—an impressive 2.01% gain from the previous session—which propelled total market capitalisation close to the ₦80 trillion mark at ₦78.7 trillion Leading the day in trading value was SEPLAT, accounting for roughly ₦3.9 billion in transactions. Other major contributors to market
