Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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Recapitalisation: CBN orders banks to show capital restoration plan ahead of deadline
The CBN has asked the banks to submit their detailed Capital Restoration Plan (CRP) showing how they plan to reduce risks and return to full compliance.
German exports to US tumble as Berlin urges quick trade deal
German exports to the United States plummeted in May, official data showed Tuesday, as Berlin pressed the European Union to strike a quick tariff deal with US President Donald Trump. German Chancellor Friedrich Merz last week called on the EU to strike a "quick and simple" bargain with the United States, saying Germany's "key industries" needed clarity. vbw/sea/rl
Cambodian garment workers fret Trump's new tariff threat
As Cambodian garment workers took breaks from toiling in sweltering factories on Tuesday, they feared for their jobs after US President Donald Trump's threat to impose a 36 percent tariff. "I fear that the high tariff will affect factories and will result in fewer jobs for workers," said the 47-year-old.
Tinubu pledges to tame inflation, strengthen transparency
President Tinubu vows to tackle inflation, boost transparency in governance. UK commends Nigeria's economic reforms, urges continued transparency & accountability
Ikeja Electric, Eko Electric, others report growth in revenues despite decline in billing efficiency
The discos made over half a trillion naira in revenue during the period, although there was no increase in electricity supplied to the customers in those months.
Bulgaria to get final green light to adopt euro in 2026
EU ministers are set to give the final green light on Tuesday for Bulgaria to adopt the euro on January 1, 2026, when the country would become the single currency area's 21st member. - Euro club gets bigger - Only 12 countries were part of the single currency area -- including France, Germany, Italy, Spain, and Greece -- when the first euro bills and coins were rolled out on January 1, 2002.
Major garment producer Bangladesh seeks deal after 35% US tariff
Bangladesh, the world's second-biggest garment manufacturer, holds hope to reduce the 35 percent tariff that US President Donald Trump said he will impose, the country's top commerce official told AFP on Tuesday. Trump hit Bangladesh with 37 percent tariffs in an April 2 announcement, but in a letter issued Tuesday, the US leader said it would now be 35 percent.
Most markets rise as Trump sends tariff letters, delays deadline
Most stocks rose Tuesday as traders cautiously welcomed Donald Trump's extension of his tariff deadline and indication he could push it back further, though uncertainty over US trade policy capped gains. While Wall Street's three main indexes ended down -- with the S&P 500 and Nasdaq back from record highs -- Asian markets mostly rose.
FIRS engages stakeholders as Netherlands begins renegotiation to cancel double taxation agreement
The Federal Inland Revenue Service (FIRS) has begun stakeholder engagement on how to double revenue for Nigeria under the newly signed tax laws by Tinubu.
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