Azman Air Halts Operations Amid Forex Challenges, Becoming Second Operator to Suspend Business in Four Years
Azman Air, an aviation company with a nine-year operating history, has ceased its operations due to challenges in accessing foreign…
Day: August 10, 2023
Nigerian Pension Fund Administrators Set to Engage in Securities Lending, Boosting Capital Market
The National Pension Commission (PenCom) has announced its efforts to establish regulations allowing Pension Fund Administrators (PFAs) to engage in…
First Bank of Nigeria Holdings Amends AGM Agenda Amidst Court Order
First Bank of Nigeria Holdings has made revisions to its agenda for the upcoming Annual General Meeting (AGM), which was…
Nigerian Naira Plunges to Record Low of N925/$1 on Parallel Market Amid Supply Scarcity
The Nigerian Naira has spiraled to an unprecedented low of N925 against the US Dollar on the parallel market, largely…
Canadian Mining Company Silvercorp Metals Invests in Tanzanian Gold Project
Canadian mining firm Silvercorp Metals has entered into a placement agreement with OreCorp, a gold developer, to provide an equity…
Kenya Finalizing Selection of Lead Arrangers for New Eurobond
The Kenyan Treasury is in the final stages of selecting lead arrangers for the country’s upcoming Eurobond issuance. This move…
Lack of Access to Bank Services Hampers Non-Oil Export Growth in Nigeria
The Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Ezra Yakusak, has highlighted the lack of access to…
Ghana’s Inflation Reaches Four-Month High Amid Rising Food Costs
Ghana’s inflation rate surged to 43.1% in July, marking the highest level in four months. The increase was primarily driven…
Rising Business Divestment and Closure Threatens Nigeria’s Economy
The Nigeria Employers’ Consultative Association (NECA) has expressed concern about the escalating instances of business divestment, capital flight, and closures…
Nigerian Electricity Supply to Niger Faces Payment and Political Challenges
According to the Nigerian Electricity Regulatory Commission’s (NERC) first-quarter report, Niger currently owes Nigeria N4.22 billion ($5.48 million) for power…
Abandoned Projects in Nigeria’s Niger Delta Region Highlight Challenges
A report from the Niger Delta Development Commission (NDDC) has revealed that a total of 1,587 projects worth N612.4 billion…
US Expresses Concern over China’s Influence on Nigeria Through Loans
The United States has expressed concerns about China’s potential to exert influence over the Nigerian government through the provision of…
Strong Demand for Nigerian Treasury Bills Despite Rising Inflation
The latest treasury bill auction in Nigeria on August 9, 2023, saw investors submitting bids worth N808 billion for one-year…
Nigeria LNG Extends Force Majeure Due to Supply Disruption
Nigeria LNG has confirmed the continuation of the force majeure that was declared in October, attributing it to extensive flooding…