How To Earn From The 15.5% Interest Rate Increase By CBN.
The benchmark interest rate (MPR), according to Nigeria’s Central Bank has risen to a two-decade high of 15.5%. The rate increase amounts to a 150 basis point increase from the…
UNICEF Employs NFTs To Raise Money for Impoverished Nations.
In order to raise money for its purpose of giving internet connection to schools in underdeveloped areas all over the world, the humanitarian relief organization UNICEF has used Non-Fungible Tokens…
Overall Revenue Losses In The Power Sector Total N420billion.
The umbrella organization for Nigeria’s power generation is APGC. According to the executive secretary of the Association of Power Generation Companies; the monthly shortfall in income remittances to the power…
Ethiopian Airlines Becomes A key Investor In Nigeria Air.
The Nigerian government announced that Ethiopia Airlines is the preferred bidder for Nigeria Air; as it gets ready for the launch of Nigeria’s new national airline. Aviation Minister Hadi Sirika…
Drone Assassinations Are Legal in Israel.
IDF commanders will be permitted to employ drones “to carry out strikes should armed individuals be recognized as posing an immediate threat to their forces,” the publication claims. The directive…
ECOWAS Names Dangote Manufacturing Brand of the Year.
In addition to winning eight separate Manufacturing Excellence Awards (EMEA) from the Economic Community of West African States, Dangote Industries Limited, the largest commercial conglomerate in Africa, has been named…
Nigeria’s Food Problem Is Getting Worse Due To Import Dependence.
According to the International Monetary Fund, an excessive reliance on imported foods has made the food crisis that is currently afflicting Nigeria and other sub-Saharan nations worse. The Washington-based lender…
The CBN Lends N9.3trillion To Businesses While Reducing Interference.
The Central Bank of Nigeria has lent N9.3tn to businesses, recovering N3.7tn from it.The apex bank said N5tn was not yet due. Director of Development Finance, CBN, Dr Yusuf Yila,…
Northeastern Angola Finds 131-Carat Diamond.
Another gem, a 131 carat white Type IIa diamond, has been recovered, according to Lucapa Diamond and Sociedade. This is the fourth recovered +100 carat diamond in 2022 and the…
Core Capital goods shipments and orders increased in the United States in August.
According to the data, company spending on equipment likely increased in the third quarter, allaying concerns that the economy was in a downturn. Shipments of essential capital goods increased 0.3%…
Nigerian Bank Stocks With The Lowest Price-Earnings.
According to data gathered by Bloomberg, United Bank for Africa Plc, Access Bank Plc, FBN Holdings Plc; and Unity Bank Plc are the Nigerian lenders with the four out of…
Egypt’s Economy Suffers From A Dollar Shortage As Imports Are Restricted.
Egypt’s economic problems have worsened due to the conflict in Ukraine. Unfortunately for individuals who had planned purchases, like Aiad, the new import regulations implemented earlier this year to stop…
Emefiele Asserts That There Is No Law Requiring CBN To Give Dollars To Foreign Airlines.
Foreign airlines’ funds stranded in Nigeria, according to the International Air Transportation Association (IATA), climbed from $450 million in May to $464 million in July. The shift occurs in the…
Kenya Will Stop Using Diesel and Gasoline Trucks and Adopt Green Transportation.
Kenya Power plans to buy additional electric vehicles, including two-wheelers and three-wheelers; in the near future in an effort to significantly lower its carbon footprint. According to estimates, one-fourth of…
Guinness Nigeria Increases Shareholder Returns By Stepping Up Its Expansion Plan.
About 11 years ago, the parent company of Guinness Nigeria, Diageo Plc invested over N52 billion in capacity expansion; making it the largest investment ever made by any market anywhere…
Experts Criticize CBN for Raising Interest Rates To Combat Inflation.
Inflation is already out of control, reaching a 17-year high in August of 20. 52 percent, stifling the parallel market currency rate to N720 to $1, escalating the food crisis,…
Nigeria Pledged To Promote Environmentally Friendly Shipping – FG.
The Federal Government of Nigeria has stated that Nigeria is committed to developing greener shipping; in line with the International Maritime Organization’s goal to achieve sustainable growth in the maritime…
CBN Increases MPR To 15.5% In A Determined Effort To Control Inflation.
The Monetary Policy Rate (MPR), known as the interest rate, was increased by 150 basis points from 14 to 15. 5 percent by the Central Bank of Nigeria (CBN). However,…
In Terms of African Pension Asset Growth, Nigeria Came In Fifth.
According to a recent report by the Organization for Economic Co-operation and Development, Nigeria has the fifth greatest pension asset increase in Africa as policymakers’ reforms are beginning to bear…
The Eurozone’s Economic Growth May Come To A Halt.
According to the deputy president of the European Central Bank (ECB); economic growth in the Eurozone has slowed and may soon reach zero. According to Reuters, Luis de Guindos stated…
Fears of Sabotage Are Stoked By Gas Leaks In Russian Pipelines To Europe.
The prime ministers of Poland and Denmark both accused the other of sabotage but did not provide any supporting proof. The Nord Stream pipelines have been focal points in an…
Impact of Governance, Social Issues, and The Environment On Ghanas Banking Sector.
The pandemic brought to light the fragmented nature of our business dealings and the significance of adopting ESG; It as an all-encompassing strategy for business operations where risks are identified…
FTX Will Purchase The Assets of Insolvent Voyager.
Crypto exchange FTX, whose bailout proposal the bankrupt institution had earlier this year been rejected, has won its assets in a $1. 42 billion bid at an auction, according to…
NNPC Recorded 8million Barrels of Oil Production Losses In July.
According to the Nigerian National Petroleum Company (NNPC) Limited; output losses at crude oil terminals totaled 8.14 million barrels in July 2022. According to the FAAC study, which TheCable was…
Sterling Falls To A Historic Low Versus The US Dollar.
As a result of the markets’ response to the UK’s largest tax cuts in 50 years, the pound has reached a record low against the dollar. The pound dropped to…
How Nigeria’s Real Estate Sector Is Fueled by Land Banking.
The real estate industry is just one of the many areas of human endeavor where various forms of banking are currently present.Investors are starting to wonder whether it makes sense…
4 Coins That Might Become Bullish if The Price of Bitcoin Stabilizes.
In the previous six weeks, the major U.S. stock market indices had their fifth weekly closing. Even though Bitcoin is getting close to its yearly lows, certain cryptocurrencies are doing…
Energy Monopolies Now Control The LNG Shipping Market Due To The Gas Crisis.
Since 2011, the size of the global LNG industry has more than doubled; bringing in dozens of new firms and allowing smaller players in Asia to grow. 20% of the…
Tanzania intends to purchase a freight plane.
With intentions to use Kilimanjaro International Airport (KIA) as a key airport for cargo landing; the Tanzanian government is about to purchase a new special cargo aircraft. The special cargo…
Uganda’s Exports Primarily Go To Kenya and South Sudan.
Data from the Ministry of Finance show that Uganda exported more commodities to Kenya and South Sudan in August than any other nation. According to the Ministry of Finance’s Performance…