Nigeria Financial News

Niger's President Mohamed Bazoum inside the presidential palace in the capital, Niamey. The situation has caused alarm as military vehicles have blocked off access to the palace since Wednesday morning. The detention comes in the wake of an «anti-Republican demonstration» by disgruntled members of the Presidential Guard. Talks between the authorities and the disgruntled guard members broke down, leading to their refusal to release President Bazoum. As a response, the army issued an «ultimatum» to the guard, further escalating tensions within the nation. President Bazoum's official Twitter account confirmed the situation, stating that he and his family were safe. The post also mentioned that the army and national guard were prepared to take action if the situation did not de-escalate.

Emerging star Mary Fowler has been ruled out of the Matildas’ Women’s World Cup clash against Nigeria with a concussion.

By Marc Jones

Nigeria's suspended Central Bank governor has appeared in court in the economic hub of Lagoon on charges of illegal possession of a firearm and live ammunition

crypto fantasy GameFi project Kandle has raised $1.7 million in a seed funding round led by Saama. PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and CoinDCX CEO Sumit Gupta also participated in the round. GameFi is a fusion of blockchain technology, gaming and decentralised finance, and allows players to earn cryptocurrency and NFTs by playing games on the network.

The Central Bank of Nigeria (CBN) remains committed to the central bank digital currency (CBDC) project, despite the recent ousting of the former governor. 

Nigerian social payments platform Bundle plans to cease its crypto exchange services and instead focus on its peer-to-peer platform Cashlink. 

Despite the former governor’s ousting nearly two months ago, the Central Bank of Nigeria (CBN) continues to be committed to its central bank digital currency (CBDC) project, showing no indications of abandoning it.

The White House announced on July 21, that prominent artificial intelligence (AI) companies, such as OpenAI, Google and Microsoft, have made commitments to create AI technology that is safe, secure and transparent. Additionally, the White House acknowledged other companies like Amazon, Anthropic, Meta and Inflection for also committing to AI safety.

Nigerian social payments app, Bundle announced on July 20 that it is shutting down its crypto exchange arm. 

The Matildas have smashed historic television ratings records, with almost 2 million people tuning in to watch the team’s first match of their much-anticipated FIFA Women’s World Cup campaign.

Sam Kerr has been ruled out of Australia’s Women’s World Cup opener against Ireland and the subsequent game against Nigeria through injury.

Nigeria is trying to make Africa’s largest economy reliant on its own wheat production

Medical tourism in India has been growing at a galloping pace. Interestingly, among the top 10 countries from where medical tourists arrive, nine happen to be majority-Muslim: Bangladesh, Afghanistan, Indonesia, Oman, Turkey, Iraq, the UAE, Sudan and Nigeria, the other being Nepal. This is a true, measurable sign of India's rising stature in the world.

A United Arab Emirates resident and Nigerian citizen was sentenced to 8 years in federal prison for orchestrating a multi-million dollar fraud scheme that victimized businesses across the U.S., Illinois federal prosecutors said.

Nigeria is trying to make Africa’s largest economy reliant on its own wheat production

Crypto exchange Binance’s Argentina arm has decided to abruptly call-off its partnership with the Argentine Football Association (AFA), accusing the latter over lack of compliance.

Maharashtra Deputy Chief Minister Devendra Fadnavis on Tuesday said in the state assembly that detention centres would be set up for foreign nationals indulging in drug peddling, overstaying their visa limit and committing petty crimes to evade deportation. The government has also decided to appoint Anti-Terrorism Squad (ATS) as the nodal agency to control the distribution of the banned drugs, he said responding to a question raised by NCP member Rohit Pawar. “We have noticed that some Nigerians as well as other foreign nationals are involved in the supply of narcotics drugs.

By Alex Lawler

Oil prices dipped for a second session on Monday after Libya resumed production over the weekend while China, the world's largest crude importer, is expected to release economic data showing that its post-pandemic recovery is fizzling out. Brent crude futures fell 57 cents, or 0.7%, to $79.30 a barrel by 0055 GMT while U.S. West Texas Intermediate crude was at $74.90 a barrel, down 52 cents, or 0.7%.

Investing.com-- Oil prices fell in Asian trade on Monday, retreating further from recent highs as markets hunkered down ahead of key economic data from China, the world’s largest oil importer, which is expected to show a slowing economic recovery.