A Fuel Depot in Southern Russia has Exploded.
According to Russian authorities, a fuel depot exploded in southern Russia near Ukraine. This is a result of a suspected drone attack. There were no casualties in the alleged attack,…
In 2022, FG Receives $339m from World Bank.
The Federal Government has received $338. 98 million from the World Bank in 2022, which it plans to distribute to states soon, according to The PUNCH. The funds were released…
BREAKING: Court Issues Bench Warrant On Fleeing British National In Connection With $9.6 Billion P&ID Fraud
On Tuesday, November 15, 2022, Justice D U. Okorowo of the Federal High Court in Abuja issued a bench warrant for fleeing James Richard Nolan, a Briton, for jumping bail…
The World Is Inflationary: The Cheap-Stuff Era Is Over
Global inflation is to reach a whopping 9.5%. But so is the rest of the world’s, because American elites designed the global economy to reflect their Platonic ideal of what…
Diasporans Remits $20 Billion to Nigeria
The Federal Government has agreed to launch a Diaspora Mortgage Loan Scheme for Nigerians living in other countries. The scheme, according to the Managing Director of the Federal Mortgage Bank,…
Funders are now Interested in ESG, According to KPMG
According to KPMG, capital providers are increasingly eager to examine how their funds are leveraged to create stakeholder value through Environmental Social Governance (ESG) to enhance societal well-being. Mr. Stephen…
Nigeria will Execute “Vision 2050” to Raise GDP to $33,000.
The Vision 2020 plan, which ran out of steam two years ago, will be replaced, according to the Nigerian government, which is currently working on its implementation of the Vision…
The War in Ukraine is Fuelling a Global Food Crisis.
According to a report by UN organizations, the Russia-Ukraine war has had a negative influence on Zimbabwe’s agriculture industry. Potentially creating a food security catastrophe. Zimbabwe needs over 800,000 tonnes…
Ugandans Are Denied Visas By The UAE
A visa restriction has been imposed on Ugandans and 20 other nations with immediate effect by the United Arab Emirates (UAE) authorities. Authorities stated in a warning sent to business…
Amazon is Laying Off 10,000 Staffs.
Approximately 10,000 employees in business and technical jobs will be let go by Amazon.com Inc (AMZN. O) starting this week, according to a source familiar with the situation. This will…
Nigeria’s Inflation Rises to 21.09%
The consumer price index (CPI), which gauges how quickly prices for goods and services fluctuate, increased to 21. 09 percent in October 2022 from 20.77 percent the month before. “Urban…
14.2 billion Tons of Limestone are Identified by an Agency.
According to Dr. Abdulrazaq Garba, Director-General of the Nigerian Geological Survey Agency, Nigeria possesses limestone deposits in 14 states totaling roughly 10. 6 billion tons. Sokoto, Gombe, Benue, Kogi, Edo,…
Four African Countries back Agreement Against Illegal, Unregulated Fishing.
Nigeria, Angola, Eritrea, and Morocco are the four African nations who have vowed to work with the Food and Agriculture Organization (FAO) of the United Nations to combat illegal, unreported,…
A Scarcity of Raw Resources Affects Manufacturing Enterprises.
Due to a lack of foreign currency, manufacturers are experiencing severe raw material shortages, which is hurting the sector’s production activities. PUNCH spoke with manufacturers who bemoaned the difficulty in…
The Assets of Nigerian Banks Increased by N10 trillion to N66 trillion.
The Central Bank of Nigeria’s most recent statistics show that between August 2021 and August 2022. The assets of Nigerian banks increased by N10 trillion, reaching N66.76 trillion. The CBN…
Google Receives $392 million in Fines from the US
Google and 40 US states reached a landmark privacy settlement on Monday after the search engine giant was accused of deceiving users into thinking location monitoring was turned off on…
Kenyan Businessmen Pay Exorbitant Prices for Ethiopian Miraa for the Somalia Market.
As high prices in Kenya drive them to give up the local crop, Miraa dealers have moved to Ethiopia as a source market for the stimulant, where they are purchasing…
Uganda Shilling Increases as Oil Prices Decline.
The rise in the import bill brought on by a significant increase in oil imports and the high cost of debt servicing has put pressure on the shilling. The Bank…
Nigeria Opens its First Deep Sea Shipping Port.
Nigeria’s first deep sea port was turned over to the government by China Harbor Engineering Company Ltd. (CHEC) after the enormous marine project in Lagos, the nation’s commercial center, was…
Under Buhari, CBN Grants $3.5 billion for International Education.
Data acquired on Sunday from the Central Bank of Nigeria’s website indicated that under President Major General Muhammadu Buhari, the educational sector of Nigeria saw significant capital flight (retd). According…
FG Charges 16 Foreigners with Oil Theft and Detains the Vessel.
16 foreigners have been charged by a Federal High Court in Port Harcourt, Rivers State, with offenses that include conspiracy, theft, an attempt to deal in crude oil, and making…
Tanzania and China Will Deepen their Partnership.
Chinese President Xi Jinping welcomed Tanzanian President Samia Suluhu Hassan to Beijing as part of his state visit to China. Following the 20th National Congress of the Communist Party of…
Egyptian Fintech Equity and Financing Round Led by EIIC and Sawari
The Egyptian finance firm, Blnk, formed in 2021 by Amr Sultan and Tarek Elsheikh, has revealed that it has earned $32 million in pre-seed and seed stages. The funding was…
Helios Invests Expansion Money in IXAfrica.
Helios Investment Partners, the top private investment company with an emphasis on Africa, and IXAfrica Data Centre Limited, a leading developer and operator of hyperscale-ready data centers in East Africa,…
Quona Capital Closes a $332 million Fund to Finance Fintech Businesses in Developing Nations.
Quona Capital, a venture capital firm, has announced that Fund III, its third fund, has reached its final closure at $332 million. Surpassing its original goal of $250 million. With…
To Further its Worldwide and African Development, Yassir Gets $150 million in Series B.
Yassir, an Algerian super-app with a San Francisco headquarters that provides financial and on-demand services, has concluded a $150 million Series B fundraising round to support its global development throughout…
Buyoya Promoted to be IFC’s Regional Director for West Africa.
Olivier Buyoya has been appointed as the new regional director for the International Finance Corporation (IFC) in West Africa. Buyoya, a Burundian, will cover 13 nations, according to the World…
Young Chae Predicts that by the End of 2022, Bilateral Trade between Korea and Nigeria would Reach $2.4 billion.
By the end of the year, the bilateral commerce between Nigeria and South Korea, the tenth-largest economy in the world, would exceed $2.4 billion. This revelation was deliver by Kim…
Central Bank of Kenya Requests Banks to take Additional Loan Pricing Criteria into Account.
In order to extend loans at an acceptable price, the Central Bank of Kenya (CBK) has urged lenders to take into account factors other than a borrower’s credit score. This…
To Accelerate the Growth of SMEs, Bank of Ghana Collaborates with Two Parties.
The Bank of Ghana (BoG) has teamed up with two organizations to provide the nation’s micro, small, and medium-sized companies (MSMEs) access to international trade and financial cooperation prospects. The…