Money market

  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 …

  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 …

  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 …

  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 …

  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 …

  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.  

  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 …

  Lagos, Nov. 24, 2025 – Union Bank of Nigeria, one of Nigeria’s oldest financial institutions, is to launch of its new customer reward initiative designed to deepen engagement, drive premium account activity, and promote consistent savings behaviour among its customers. The Save and Gain promo, which is open to new and existing customers, requires participants to open accounts, maintain and grow a monthly average balance of ₦50,000, complete at least five transactions monthly, and actively use digital channels such as cards, USSD, mobile, or internet banking. Top deposit contributors …

  Lome, Nov. 24, 2025 – The Dubai Court of Cassation has dismissed a claim filed by Wilben Trade Limited and its promoter, Marcus Akroyd Wade, over a trade finance dispute with Ecobank. For two years, the claimants ran a negative media campaign and pressed the line that they were right to sue Ecobank in Dubai and casting the Ecobank Group, its subsidiaries and officers in a poor light. Ecobank did not engage in this campaign and instead relied on the UAE’s well-developed judicial system to assess the allegations. The …