Brazil’s annual inflation rose to 4.14% in March, driven largely by surging fuel prices linked to a global energy shock triggered by the ongoing Middle East conflict, official data showed Friday. According to the Brazilian Institute of Geography and Statistics (IBGE), gasoline prices increased by 4.59% during the month, pushing up transport costs and contributing…
Gold prices were largely steady on Thursday as investors remained cautious over the fragile U.S.–Iran ceasefire and awaited key U.S. inflation data for signals on the Federal Reserve’s interest rate outlook. Spot gold rose 0.1% to $4,721.51 per ounce as of 0523 GMT, while U.S. gold futures for June delivery fell 0.7% to $4,744.90. Market…
The International Monetary Fund (IMF) has said it will lower its global growth forecasts, citing the economic fallout from the ongoing Middle East war, and warning of lasting “scarring effects” despite a fragile ceasefire. IMF Managing Director Kristalina Georgieva said even under the most optimistic scenario, the global economy will not return quickly to pre-war…
By Ayomide Otitoju Nigeria’s crude oil production has risen sharply from a low of 960,000 barrels per day in 2022 to an average of 1.71 million barrels per day, with a peak output of 1.84 million barrels per day recorded in 2025, the Nigerian National Petroleum Company Limited has said. Group Chief Executive Officer of…
By Ayomide Otitoju African Export-Import Bank (Afreximbank) and its subsidiaries have announced robust financial results for the year ended 31 December 2025, highlighting sustained growth, market confidence, and strategic execution. Total assets and contingencies rose 21% to US$48.5 billion, up from US$40.1 billion in 2024, while net loans and advances increased 16% to US$33.5 billion,…
By Ayomide Otitoju In a bid to enhance financial flexibility and global transaction access for customers, FirstBank of Nigeria has introduced its Naira Credit Card, offering users a reliable and secure payment solution for everyday and international needs. The card is designed to support a wide range of financial activities, from online shopping to travel-related…
By Ayomide Otitoju Polaris Bank has reaffirmed its commitment to promoting financial literacy among young Nigerians through its participation in the 2026 edition of Global Money Week (GMW). The annual global campaign, which began on April 7 and runs through April 30, is an initiative of Child and Youth Finance International in collaboration with financial…
By Ayomide Otitoju FirstBank has announced its strategic sponsorship of the second edition of ChessMasters, Africa’s largest school chess tournament, reinforcing its commitment to youth development and educational advancement. The announcement was made at the tournament’s official press conference held on March 16, 2026, at Eko Hotels and Suites. ChessMasters, an annual competition organised by…
By Ayomide Otitoju The African Export-Import Bank (Afreximbank) has announced its support for Dangote Group as the conglomerate seeks to expand operations and achieve a turnover of US$100 billion by 2030. Dangote Group presented its long-term growth blueprint, “Vision 2030: Supercharging Dangote Group for Long-Term Success,” to Afreximbank’s Board of Directors and executive team on…
