Bejing, Nov. 29, 2025 – China’s central bank reaffirmed its tough stance on virtual currencies on Saturday, warning of a resurgence in speculation and vowing to crack down on illegal activities involving stablecoins. The People’s Bank of China (PBOC) said at a coordinating meeting on virtual currency regulation on Friday that crypto speculation has recently increased due to various factors, presenting new challenges for risk control, according to a statement released by the central bank. “Virtual currencies do not hold the same legal status as fiat currency and cannot …
Naira depreciates further at official market Thursday, closing N1,4445 to dollar
Lagos, Nov. 28, 2025 – The Nigerian currency, the Naira, depreciated further at the official foreign exchange market on Thursday, closing at N1,445.90 to the dollar. The currency has been sliding at the market in the last two days. The exchange rate, which was N1,442 on Wednesday, depreciated from N1,441 to the dollar on Tuesday. The steady depreciation of the naira at the market in the last three trading days was in spite of the injection of $250 million into the market last week by the ape bank. Bid …
Naira losses N1.00 to dollar at official market Wednesday
Lagos, Nov. 27, 2025 – The Nigerian currency, the Naira, lost N1.00 to the dollar at the official segment of the foreign exchange market on Wednesday to close at N1,442 to the dollar. The currency closed at N1,441 to the dollar at the market on Tuesday. Bid rates offered by dealers at the market on Wednesday ranged between N1,436.50 and N1,445.50 to the dollar. Meanwhile, the naira is being traded at the black in Lagos at between N1,464 and N1,469 to the dollar.
Ecobank unveils SME Bazaar: A festive marketplace for local entrepreneurs
Lagos, Nov. 26, 2025 – Ecobank Nigeria, a member of Africa’s leading pan-African banking group, has announced the launch of the Ecobank SME Bazaar—a two-weekend festive marketplace designed to celebrate local creativity, empower entrepreneurs, and give Lagos residents a premium shopping experience this Detty December. The Bazaar will hold on Nov. 29 to Nov. 30 and Dec 6 and Dec. 7 at the Ecobank Pan African Centre (EPAC), Ozumba Mbadiwe Road, Victoria Island, Lagos. Speaking ahead of the event, Omoboye Odu, the of Head of SMEs, Ecobank Nigeria, reaffirmed the bank’s commitment to supporting small …
Fidelity Bank reaffirms support for indigenous oil, gas development
Lagos, Nov. 26, 2025 – Fidelity Bank Plc has restated its commitment to advancing Nigeria’s oil and gas industry, with a strong focus on supporting indigenous operators. This was highlighted by the bank’s Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe,OON, during a first oil presentation event for Emadeb Energy at Fidelity Place, the bank’s corporate headquarters in Lagos. At the event, Emadeb Energy’s Group Managing Director and Chief Executive Officer, Mr. Adebowale Olujimi, expressed appreciation for the bank’s role in enabling the company’s progress. “What makes Fidelity …
Germany’s spending surge sets stage for recovery – IMF
Berlin, Nov 26, 2025 – Germany’s landmark reforms of its fiscal rules earlier this year has set the stage for economic recovery, but medium-term prospects remain constrained, the International Monetary Fund said on Wednesday in a report. Germany was the only member of the G7 advanced economies that failed to grow for the last two years, and only modest growth of 0.2% is expected this year, according to the IMF forecasts. Plans by Germany’s new government to sharply increase spending on infrastructure and defence are expected to prop up …
16 banks meet CBN new minimum capital requirement
Abuja, Nov. 26, 2025 – The Central Bank of Nigeria (CBN) has said that 16 banks have met the new minimum capital requirement. Olayemi Cardoso, the Governor of the bank, disclosed this at press briefing held at the end of the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. He said 16 banks had met the new minimum capital requirement which the committee considered a substantial progress. Cardoso said the committee also noted with satisfaction the sustained resilience of the banking system as most of the banks had also met financial soundness …
Total VAT collection stands at N2trn in Q2 2025
Abuja, Nov. 26, 2025- Total Value Added Tax collection stood at N2.06 trillion in second quarter of 2025. The National Bureau of Statistics (NBS) disclosed this in its VAT Q2 2025 Report released in Abuja on Tuesday. The report indicated that local VAT collection recorded during the period was N1.09 trillion, while foreign VAT payments contributed N459.95 billion, and import VAT contributed N508.55 billion in Q2 2025. On a quarter-on-quarter basis, the report showed that real estate activities recorded the highest growth rate at 155.21 per cent, followed by …
Naira gains N11.00 at the official market Tuesday, appreciating to N1,411 to dollar
Lagos, Nov. 26, 2025 – The Nigerian currency, the Naira, gained N11.00 against the dollar at the official foreign exchange market on Tuesday, appreciating to N1,441 to the dollar. The currency closed at N1,452 to the dollar at the market on Monday. Bid rates offered by dealers at the market on Tuesday ranged between N1,441 and N1,455 to the dollar. Meanwhile, the naira is being traded at the black market in Lagos at between N1,460 and N1,470 to the dollar.
Naira appreciates to N1,452 to dollar at official market
Lagos, Nov. 25, 2025 – The Nigerian currency, the Naira, appreciated at the official foreign exchange market on Monday to close at N1,452 to the dollar. The currency gained N6.00 to the dollar on Monday, up from N1,458 to the dollar on Friday. The appreciation of the currency on Monday may be due to the injection of $250 million into the foreign exchange by the central Bank to stop the steady depreciation of the naira at the segment in the last few days. Meanwhile, the naira is being traded …