Author: Marketforces Africa

Naira fell against the US dollar for the 11th consecutive trading session on Wednesday, reflecting a lack of adequate foreign currency liquidity to meet international payments.

]The price of diesel in Germany has climbed to more than €2 ($2.32) per litre as a result of the war in Iran, the ADAC automobile association said on Wednesday.

Ecobank Unveils ‘Ellevate’ To Promote Women Entrepreneurs Ecobank Nigeria has unveiled an enhanced version of its gender financing initiative, ”Ellevate” by Ecobank, as part of activities commemorating 2026 International Women’s Day (IWD). A statement by the bank on Wednesday said that the upgraded programme reinforced the bank’s long-term commitment to advancing women-led enterprises in Nigeria and across Ecobank’s pan-African footprint. Originally inaugurated to improve access to finance for women-owned, women-led, and women-focused small and medium-sized enterprises (SMEs) within its commercial banking segment, the enhanced ”Ellevate” programme now adopts a broader, more inclusive structure. The new framework extends across all business…

Nigeria, 60 Others Endorse Standards for AI-generated Imagery Nigeria has joined over 60 global regulators in establishing stringent standards for AI-generated imagery, aiming to curb deepfakes and non-consensual content. This is contained in a statement issued by Babatunde Bamigboye, Head, Legal, Enforcement and Regulations of the Nigeria Data Protection Commission (NDPC) on Wednesday in Abuja. Bamigboye said the joint initiative was coordinated by the International Enforcement Cooperation Working Group (IEWG) of the Global Privacy Assembly. He said the decision came after a growing global concern about privacy risks posed by Artificial Intelligence (AI) tools capable of generating realistic images and…

Brent Crossed $83 as Iran Blocks Oil Shipping Channel Brent crude crossed $83 per barrel on Wednesday as Iran blocked the oil shipping channel in the Middle East. Crude prices rose due to blocked shipments through the Strait of Hormuz, which has reduced exports from the region. Iran says it will “set fire” to any ships trying to pass through the Strait of Hormuz, the world’s busiest oil shipping channel. Usually, about 20% of global oil and gas passes through the narrow shipping lane in the Gulf. But Iran’s General Sardar Jabbari said that Tehran will now “not let a…

Ripple (XRP) gained about 4% in 24 hours to $1.40, closely tracking Bitcoin’s 4.55% gain amid a broader 3.69% market rally…

Sui declined by about 1.5% over 24 hours to $0.892 on Monday, slightly underperforming a broadly weak crypto market, driven by preemptive selling ahead of a large token unlock.

Gov. Dauda Lawal has abolished cash revenue collection in Zamfara, in a move to strengthen digital systems, harmonise databases and enable real-time monitoring to reduce leakages.

Brent neared $79 on Monday as oil prices soared in reaction to U.S. and Israeli strikes on Iran, heightening the risk of a prolonged conflict in the Middle East.

The average yield on Federal Government of Nigeria (FGN) bond dipped to 15.4% in the secondary market, as investors actively seek real returns in the naira curve.