Bitfront, a Cryptocurrency Exchange, has Shut Down.
Despite efforts to overcome challenges in the rapidly evolving industry, Bitfront, a U.S. Crypto exchange backed by Japanese social media…
Year: 2022
Nigeria’s Government is Relying on an Energy Transition Plan to Lift 100 million People out of Poverty.
The federal government has made the fulfillment of Nigeria’s Energy Transition Plan. A condition for achieving its goal of releasing…
Diesel Prices Increased by 215%, Gas by 70.6%, and Petrol prices by 17% in 2022.
The average retail price of Automotive Gas Oil (AGO), often known as diesel, which many Nigerian companies used to power…
Trade Volume Between the UK and Nigeria Hits £5.5bn.
At the eighth and final UK-Nigeria Economic Development Forum, both parties reaffirmed their shared interest in pursuing a prospective Enhanced…
As a Hydro Plant Shuts Down, the Electricity Situation in Zimbabwe will Get Worse.
After the organization in charge of managing southern Africa’s largest dam ordered the halt of electricity production at its major…
Kenya’s Centum Investment H1 Pretax Loss Widens.
Kenya’s Centum Investment (CTUM. NR), which reported a larger first-half loss, said it would buy back up to 10% of…
Investors Rush As the Fed Government’s N100 billion Sukuk Closes.
The offer period for the federal government’s continuing sovereign Sukuk is coming to an end. Therefore, investors are scrambling to…
The Declining Gold Boom in Burkina Faso Threatens People’s Means of Survival
A gold mining boom in Burkina Faso over the last decade propelled Boukary Diallo from being a vendor on a…
London Museum Returns Benin Bronzes to Nigeria.
The Horniman Museum in London has formally started the process of returning 72 Benin bronzes to Nigeria. Following agreements between…
Amazon closes its operations in India.
Amazon, a U.S. Online retailer, is closing its wholesale distribution operation in India in order to concentrate more on its…
Exclusive: Exxon will leave Equatorial Guinea amid the Phase-out of Crude in Africa.
Exxon Mobil Corp (XOM. N) will cease oil production in Equatorial Guinea after its license expires in 2026 and depart…
Dollar Crisis Earns Kenya Banks Sh52bn Amid Consumer Woes.
For the nine months ending September, commercial banks’ earnings from foreign exchange trading nearly doubled due to higher demand for…
The Ministry of Finance disputes budget padding.
Allegations that various ministries, departments, and organizations have padded their budgets have been disputed by Mrs. Zainab Ahmed, Minister of…
Ijarah Sukuk Funding Awarded to Pomegranate for N2.25 billion.
Through WealthBridge Capital Partners Limited, Pomegranate Nigeria Limited (PNL) has successfully raised N2.25 billion in Al-Ijarah Sukuk 3-year Note. To…
Lekki Free Zone Company, NNPC, and NIPCO Reach Gas Infrastructure Agreement.
Since NIPCO Gas Limited signed an agreement with the NNPC Gas Marketing Limited (NGML) and Lekki Free Zone Development Company…
90% of Telecoms’ RoW Fees are Reduced by the FCT Minister.
According to Mohammed Bello, Minister of the Federal Capital Territory, the right-of-way fee for telecommunications companies wishing to install broadband…
Nigeria: Serap, Others Sue Buhari Government Over Illegal Pipelines, Oil Theft.
The government of President Muhammadu Buhari is being sued by the Socio-Economic Rights and Accountability Project (SERAP) for “failure to…
Banks lend N1.2tn to Construction Firms.
The loans obtained by operators in the country’s construction sector from banks increased from N1. 025tn in January 2022 to…
The Contribution of Telecommunications to Nigeria GDP rises by 10%.
Telecommunications’ contributions to the nation’s real GDP increased 10.52 percent year on year, reaching N7.28 trillion in the first nine…
Nigerian Banks Increase Interest on Existing Loans to Customers By 200bps.
Commercial lenders have raised the interest rates they impose on current contracts by 200 basis points, or 2%, up to…
Nigeria Petroleum Marketers: The NNPC Petrol Price Without Subsidy Is N400/Litre.
It has been learned that, assuming there is no subsidy, N400/litre is the lowest price at which the Nigerian National…
Ivory Coast Completes Second Shipping Container Terminal.
Officials announced that the Ivory Coast has finished building a second container terminal at its primary port in Abidjan, opening…
Nigerian Crude Oil Sales Generate Zero Dollars for the CBN, according to Emefiele
From almost US$3.0 billion per month in 2014 to zero dollars now, Nigeria’s official foreign exchange receipts from crude oil…
Tanzanian and South Korean Companies agree to a Collaboration.
In order to promote partnerships between the two parties, the Tanzania Startup Association (TSA) and the Korean Startup Forum (KSF)…
Floods Cost Farmers around N100 billion, and Expert Forecasts Show a Fall in Exports.
According to managing director of Universal Quest Nigeria, approximately N100 billion was lost by Nigerian farmers in the recent flood…
Only 9% of Kenyans work Full-time, Permanently.
Less than 10% of Kenyan people hold steady full-time work, this highlights the high rates of reliance and poverty in…
Equity Recovers 90pc of Covid Restructured Loans.
In order to demonstrate the sustained recovery of the economy despite additional shocks from high inflation, Equity Bank’s debtors who…
According to NBS, Nigeria’s GDP Declined from 1.78% to 2.25% in Q3 2022.
Nigeria’s Gross Domestic Product (GDP) increased by 2.25 percent (year over year) in real terms in the third quarter of…
Indirect Taxes Worth N2 trillion Paid in Nine Months.
The tax burden on Nigerians grew by N285.13 billion in the first nine months of 2022 despite a recession and…
Emefiele: Nigeria’s Rising Inflation Is Consistent With Global Trend.
The continuous rise in headline inflation from 15.60% in January to 20. 77% in September, according to Godwin Emefiele, Governor…