Category: Business

 Business

Nigeria Eyes Fresh $10.5M World Bank Loan to Strengthen CBN’s Digital Capacity and Remittance Infrastructure

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By Okafor Joseph | Global Finance Correspondent In a strategic move to modernize its financial supervision framework and domestic remittance infrastructure, the Federal Government of Nigeria is seeking a new

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Business

Tariff Turmoil: Trump’s Global Trade Moves Hit Naira, Crude Prices, and Reserves

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By Springs News NG Business Desk Abuja, Nigeria – April 4, 2025 — The Nigerian naira plunged significantly against the US dollar on Thursday, following the announcement of a new

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Business

“Nigeria’s Foreign Exchange Inflows Surge by 21% in Q4 2024 as CBN’s Market Share Declines”

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Written by SpringsNewsNG Media Limited | April 4, 2025 Foreign exchange inflow into Nigeria surged by 20.62 per cent in the fourth quarter of 2024, reaching $27.81 billion from $23.06

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Major stock indices plunged sharply this week as investors grappled with uncertainty stemming from President Donald Trump’s fluctuating tariff policies. However, when questioned about whether his tariffs were responsible for market volatility, Trump pointed the finger elsewhere. “Well, a lot of them are globalist countries and companies that won’t be doing as well,” Trump said in the Oval Office on Thursday. “Because we’re taking back things that have been taken from us many years ago.” Trump did not specify what exactly had been taken or by whom. “We’ve been treated very unfairly as a country,” he continued. “We protect everybody. We do everything for all these countries, and a lot of these are globalist in nature.” It remained unclear what Trump meant by “globalist in nature,” though NBC reported that his administration was considering revising its approach toward NATO allies. Later in the press event, Trump doubled down on his claim, asserting that “globalists” were behind the market downturn. “I think it’s globalists that see how rich our country’s going to be, and they don’t like it,” he said. Throughout the briefing, Trump used the term “globalist” to describe people, companies, and countries, making it difficult to determine precisely whom he was referring to. During his first term, Trump often decried “globalism,” portraying it as a threat to American sovereignty and economic interests. He also frequently labeled political opponents as “globalists,” in line with his nationalist, isolationist stance. The term “globalist” has drawn criticism from groups who argue it carries antisemitic connotations. The American Jewish Committee notes that the word is often used as “a coded reference to Jews who are seen as international elites conspiring to weaken or dismantle ‘Western’ society using their international connections and control over big corporations.” Trump’s use of the term in relation to daily stock market movements was unusual. The White House did not immediately respond to requests for clarification on his comments. The remarks came as Trump, just two days after imposing 25% tariffs on Canada and Mexico, announced temporary exemptions for certain goods entering the U.S. from those countries. He denied that these exemptions were a reaction to the market decline. “Nothing to do with the market,” Trump insisted. “I’m not even looking at the market.” Even as he rejected the idea that his tariffs were driving the sell-off, he acknowledged that tariffs could cause temporary disruptions. “There’ll always be a little short-term interruption,” he said. “I don’t think it’s going to be big, but the countries and companies that have been ripping us off aren’t particularly happy with what I’m doing.” He concluded, “Again, there’ll be disruption.”
Business

Trump Imposes Sweeping Tariffs, Threatening Nigeria’s U.S. Exports

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BY, springnewsng media limited April 4,2025 U.S. President Donald Trump has announced a 10 percent baseline tariff on imports from all countries, with higher rates targeting nations with trade surpluses,

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Business

NNPCL Increases Petrol Price to ₦950/Litre

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Written by Springnewsng Media Limited | April 4, 2025 The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of petrol to N925 per litre at its filling stations

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Banking Business

STERLING BANK LEADS PROTEST FOR REMOVAL OF BANK TRANSFER CHARGES

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By, Springnewsng media limited April 2,2025 LAGOS, NIGERIA – In a landmark move that sets a new benchmark for customer-focusedbanking in Nigeria, Sterling Bank has championed the cancellation of bank

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Business

BREAKING: Tinubu Shakes Up NNPC Leadership, Sacks Kyari in Major Restructuring

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Written by SpringNewsNG Media LimitedApril 2, 2025 In a move akin to a midnight coup d’etat, President Bola Ahmed Tinubu, in the early hours of Wednesday, announced sweeping changes in

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Business

“UBA Records Impressive FY’24 Growth, Analysts Recommend ‘BUY’ on Stock”

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Written by SpringsNewsNG Media Limited, April 2, 2025 Africa’s global bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the full year (FY) ended December

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Business

Naira Surges as Nigeria’s Foreign Reserves Hit Three-Year High

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Written by SpringNewsNG Media Limited – April 2, 2025 Nigeria’s naira surged against the U.S. dollar on Wednesday, marking its most significant appreciation in two weeks, following the Cenhttp://Central Bank

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Business

FY 2024: Fidelity Bank records a 210.0% growth in PBT to N385.2bn

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By, Springnewsng media limited April 1,2025 …Declares a total dividend of N2.10 per share Lagos, Nigeria, March 29, 2025: Leading financial institution, Fidelity Bank Plc, released its 2024 full-year Audited

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