Author: Folasade Olugbade

U.S. citizens lost staggering $2.1 billion to social media scams in 2025, new data from the Federal Trade Commission (FTC) shows. In an update, FTC noted that nearly 30% of people who reported losing money to a scam said it started on social media, with reported losses reaching a staggering $2.1 billion.

Naira Sheds Weight Amidst Declining Foreign Reserves The naira depreciated by ₦14.80 to close at ₦1,358.44/$ in the official market, data published by the Central Bank revealed. The local currency weakened against the dollar as eligible FX used requests exceeded total FX supply, amid a slowdown in foreign reserves. Nigeria’s gross external reserves declined by $172.54 million to $48.45 billion at the close of the trading session on Friday in the absence of additional inflows and persistent FX intervention. A slew of economists attributes the sustained decline in external reserves to continued CBN interventions to support the currency, ongoing debt…

Shiba Inu (SHIB) price gained 2.37% to $0.00000625, closely tracking a broader market rally and primarily driven by beta alignment with Bitcoin’s gains.

The International Monetary Fund (IMF) has endorsed Nigeria’s ongoing bank recapitalisation drive. It said that stronger capital buffers are cushioning the financial system against external shocks and strengthening resilience amid intensifying global uncertainties.

The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with an Indian company, Rashmi Metaliks Group in Kolkata, for an investment of one billion dollars over a three-year period.

JSE Index Upbeat after Sell Pressure The South African bourse, Johannesburg Stock Exchange (JSE), is set for a firmer open on Tuesday as upbeat sentiment across Asian bourses provides a supportive backdrop, First National Bank said in an update. The JSE started the week on the back foot and traded lower in yesterday’s session as heightened geopolitical tensions weighed on investor sentiment following the collapse of US-Iran peace talks over the weekend, which prompted US President Donald Trump to impose a naval blockade on Iran. By market close, the JSE All Share Index was down 0.45%, and the Top 40…

NGX Delivers 29.35% Return, Investors Gain N30trn in Q1 The Nigerian Exchange (NGX) delivered 29.35% return from the beginning of the year to date as investors continue to take positions in growth stocks with upside potential. Over the past three months, the Nigerian Exchange market capitalisation increased by about N30 trillion, reflecting sustained bargain-hunting. Market cap is expected to reach N130 trillion in the second quarter, as investors anticipate the first quarter of 2026 earnings season to drive momentum. The local bourse witnessed significant gains as investors hedged macro risks by buying Nigerian top-performing stocks across the banking, insurance, industrial,…

Pan-African lender Ecobank Incorporated (ETI) Plc’s share price closed flat on the Nigerian stock market amid thin trading ahead of its first-quarter 2026 earnings.

FTSE Russell, the global index provider, today announces the alignment of the minimum free float requirement for both UK-incorporated and non-UK-incorporated companies within the FTSE UK Index Series.

GCR Ratings has affirmed Ondo State Government of Nigeria’s national-scale long-term and short-term issuer ratings of BBB(NG) and A3(NG), respectively, with the outlook revised to positive from stable.