Global Market News

Shares jittery, dollar jumps with Trump's plans for tariffs"” Reuters

Global markets greeted Donald Trump's presidency with apprehension on Tuesday in moves that were highly sensitive to headlines over the newly sworn-in president's plans for trade relations and tariffs in particular. Click here for more.

Oil prices tick down on plan to boost US oil output, tariff reprieve"”Reuters

Oil prices slipped in Asian trading on Tuesday after President Donald Trump announced a plan to boost U.S. oil and gas production and held off on applying new tariffs. Click here for more.

Macroeconomic News

50% tariff hike: Nigerians may spend N6.74trillion on calls"” Punch

The Nigerian Communications Commission approved a 50 per cent increase in call tariffs on Monday, which may raise the average cost of calls to N16.5 per minute. Based on the 2023 national telephone traffic data, this hike could generate over N6.74tn in revenue for telecom operators in 2025 if call volumes remain stable, hence Nigerians may pay this amount to the firms. Click here for more.

Collective investment schemes in Nigeria grew to N3.9trn in 2024 ""Report"” The Sun

Collective Investment Schemes (CIS) in Nigeria experienced significant growth, increasing, with the net asset value (NAV) rising to N3.94 trillion in 2024. Click here for more.

BVN enrolments rise 2.1% to 64.8 million "” NIBSS"” Vanguard

The volume of Bank Verification Number (BVN) enrolments in the country has risen by  1.33 million or 2.1 per cent  64.8 million this month from 63.47 million at the end of 2024. However, according to the NIBSS latest data on the number of active bank accounts, there exists a gap between the number of accounts and the number of BVN, which is a compulsory requirement for opening an account. Click here for more.

World Bank bans two Nigerian firms, CEO over corruption"” Punch

The World Bank Group has announced the 30-month debarment of two Nigerian companies, Viva Atlantic Limited and Technology House Limited, alongside their Managing Director and Chief Executive Officer, Mr Norman Didam, for fraudulent, collusive, and corrupt practices linked to the National Social Safety Nets Project in Nigeria. Click here for more.

CAC registers 100,000 POS operators"”Punch

The Registrar-General of the Corporate Affairs Commission, Hussaini Magaji, has disclosed that 100,000 Point of Sale operators have officially registered their businesses with the commission under its POS formalisation project. According to the Nigeria Inter-Bank Settlement System, there are over 1.9 million PoS terminals deployed by merchants and individuals nationwide. Click here for more. 

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