• IMF downgrades 2022/2023 global economic forecast amid “multiple challenges”

    The International Monetary Fund (IMF) in its recent World Economic Outlook (WEO), downgraded the global economic forecast from its prior projections on the back of “multiple challenges” expected to be faced by global economies as they battle rising inflation and distorted growth this year. The IMF’s forecast for global economic growth in gross domestic product

  • CBN addresses impact of rising U.S yields on Nigerian economy

    Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has said the plan of the United States to raise yields rate won’t affect the Nigerian economy, as America moves to attract investors to its bonds. Emefiele made this known after the CBN’s Monetary Policy Committee (MPC) meeting, which held on Tuesday, January 25, 2022. The post CBN addresses impact of rising U.S yields on Nigerian economy appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • French container liner, CMA CGM imposes surcharge on West African goods

    CMA CGM, a French container shipping liner doing business in Nigeria, said it will be imposing an additional surcharge on all imports known as ‘dangerous goods’ destined for all West African ports including Nigeria. According to the French shipping giant, ‘Dangerous Goods Additional to West Africa,’ will be taking effect from February 15, 2022. “In

  • BREAKING: CBN again keeps interest rate at 11%, expresses hope price of food will drop

    The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent. The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an economy is built on the MPR. Addressing The post BREAKING: CBN again keeps interest rate at 11%, expresses hope price of food will drop appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Nigerian govt to probe online banks over breach of customers’ data privacy

    Following increased outcry over alleged breach of customers’ privacy and data invasion by online banks, especially digital loan providers, the federal government has begun a probe into the matter. This was disclosed by the Director-General, National Information Technology Development Agency, Kashifu Inuwa while addressing journalists in Abuja on Monday ahead of the National Privacy Week The post Nigerian govt to probe online banks over breach of customers’ data privacy appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Expert says CBN hurting Naira with tough policies, predicts N620/$1 exchange rate

    The Central Bank of Nigeria (CBN) has been urged to retract some of its tough policy on Naira and give it a chance to fight. The plea came from founder of Agusto & Co – a credit rating agency – Bode Agusto while speaking at a webinar on Monday titled: “Nigeria in 2022 – Will The post Expert says CBN hurting Naira with tough policies, predicts N620/$1 exchange rate appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Chelsea, Orijin, others to lose revenue to Nigerian govt’s alcohol policy

    The revenue generation companies producing alcoholic drinks like Chelsea, Orijin among others will drop in the next two years, as President Muhammadu Buhari’s administration seeks to phase out sachet and small PET bottle products. Producers of alcoholic drinks in sachet packs, as well as PET and glass bottles with 30% ABV (alcohol by volume), have The post Chelsea, Orijin, others to lose revenue to Nigerian govt’s alcohol policy appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • STOCK MARKET: Livingtrust leads gainers, Regal Insurance tops losers amid N40bn gain

    Monday’s trading session continued from the bullish run of last week, awarding shareholders with N40 billion. This increased the total investment worth held by shareholders in the Nigerian bourse to N24.74 trillion, from the N24.72 trillion market cap of Friday. However, at the close of trading, the index lost 29.08 basis points from the 45,957.35 The post STOCK MARKET: Livingtrust leads gainers, Regal Insurance tops losers amid N40bn gain appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Bill Gates, Jeff Bezos, other tech shareholders lose N249.3bn in five days

    In a space of one week, shareholders of Microsoft, Amazon, Apple and Netflix lost about N249.3 billion ($600 million) after investors lost confidence in holding the stocks amid US government’s decision to raise bonds rate. The loss indicated a bad performance for tech companies in the capital market last week, with Jeff Bezos and other The post Bill Gates, Jeff Bezos, other tech shareholders lose N249.3bn in five days appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • POS operators record N6.43trn in 12 months, as insecurity, unemployment, others trigger demand

    In twelve months, Point of Sales (POS) operators transacted N6.43 trillion through their terminals, as insecurity, unemployment, and other factors compel adoption of the payment channel among Nigerians. This is the highest level since POS debuted in 2012, when operators reported N46.86 billion, adding over N6.38 trillion to its transaction value within nine years. POS The post POS operators record N6.43trn in 12 months, as insecurity, unemployment, others trigger demand appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.