NDIC Trains Law Enforcement Operatives to Probe Revoked MfBs and PMBs
The Nigeria Deposit Insurance Corporation (NDIC) has organized a workshop to train law enforcement operatives and officers responsible for investigating…
Month: August 2023
Coronation Insurance Delays Shareholders’ Meeting for NGX Delisting Indefinitely
The planned shareholders’ meeting of Coronation Insurance Plc, which was ordered by the court and aimed at discussing the proposed…
CBN’s Efforts Bring Hope for Resolution of Telcos’ USSD Debt Dispute
After a prolonged dispute between Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) over unpaid debts for the use…
Africa’s Marine and Coastal Tourism Sector Poised for $100 Billion Opportunity
Africa holds a significant economic opportunity within its grasp, owning approximately one-third of the world’s major international water basins. A…
Transcorp Group: A Driving Force for Nigeria’s Energy Transformation
Transcorp Group, under the leadership of Chairman Tony Elumelu, is emerging as a pivotal force in propelling Nigeria and Africa…
Seplat Energy Clarifies Ownership Amidst Oil Rig Incident Controversy
Seplat Energy, an independent oil producer, has responded to controversies surrounding the ownership of the Majestic oil rig, which was…
Naira Strengthens Against Dollar Following CBN’s Forex Market Intervention
The Nigerian naira demonstrated strength against the US dollar, closing at 740.67/$ on the Investor & Exporter forex window. This…
Nigeria Ready to Join Second Phase of AfCFTA’s Guided Trade Initiative
Nigeria’s participation in the second phase of the Guided Trade Initiative (GTI) under the African Continental Free Trade Area (AfCFTA)…
Central Bank of Nigeria Launches Price Verification System to Enhance Trade Transparency
The Central Bank of Nigeria (CBN) has officially launched its Price Verification System (PVS) portal, which will require all applications…
ECOWAS Prepared to Intervene Militarily in Niger Republic’s Political Crisis
The Economic Community of West African States (ECOWAS) has announced its readiness to intervene militarily in Niger Republic if diplomatic…
Nigerian Stock Exchange Continues Bearish Trend, Market Capitalization Drops by N58 Billion
The Nigerian Stock Exchange (NSE) has extended its bearish performance from the previous trading session, resulting in a decline of…
Binance Shuts Down Fiat-to-Crypto Platform Amidst Crypto Market Fluctuations
Binance, a prominent cryptocurrency exchange, has announced the closure of its fiat-to-crypto payments platform, Binance Connect. This decision comes as…
US Unemployment Claims Fall Slightly, Indicating a Tight Labor Market
The number of Americans filing new claims for unemployment benefits fell by 11,000 to a seasonally adjusted 239,000 for the…
China’s Reluctant Response to Economic Challenges Raises Concerns
China’s economy is facing challenges such as a potential property crisis and stagnation, leading to concerns over the government’s tepid…
Investors Call for Government Support Amid Decline in Manufacturing Sector Profitability
The local manufacturing industry in Nigeria has been hit hard by the harsh operating environment, leading to a significant decline…
Legal Battle Over First Bank Holdings Shares Continues, Court Adjourns Hearing
A Federal High Court in Lagos has adjourned a hearing on various applications related to the controlling shares of First…
Suspended Nigerian Central Bank Governor Faces N6.9 Billion Procurement Fraud Charges
Suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele is set to be arraigned in court alongside an associate and…
Nigerian Export Promotion Council Targets Over $5 Billion Revenue from Non-Oil Exports
The Nigerian Export Promotion Council (NEPC) is aiming to generate more than $5 billion in revenue from non-oil exports. In…
Manufacturers Association of Nigeria Raises Concerns Over Inflation’s Impact on Manufacturing Sector
The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has expressed concerns about the adverse effects of the…
Nigerian Liquefied Natural Gas Ltd Shutdown Threatens Gas Production
The continued shutdown of operations by Nigerian Liquefied Natural Gas Ltd (NLNG) is posing a serious risk to the country’s…
Nigeria Secures $3 Billion Emergency Loan to Stabilize Naira Amid Concerns
The Nigerian National Petroleum Company Limited (NNPCL) and Afreximbank have jointly signed a commitment letter and term sheet for an…
Naira Rebounds Against Dollar as CBN Announces Intervention
The Nigerian naira has rebounded against the United States dollar in the parallel market, closing at 850/dollar. This rebound comes…
Bank Consolidation Gathers Pace in Tanzania, 15 Banks Vanish in 5 Years
The banking landscape in Tanzania has witnessed significant consolidation over the past five years, resulting in the disappearance of 15…
Nigeria’s Inflation Hits Highest Level in Almost Two Decades Amid Reforms
Nigeria’s annual inflation rate has surged to 24.08% in July, marking its highest level in nearly two decades and worsening…
FMCGs Report Significant Net Foreign Exchange Losses Amid Exchange Rate Unification
Major consumer goods companies in Nigeria, especially in the fast-moving consumer goods (FMCG) sector, have reported substantial net foreign exchange…
Disability Inclusion Forum Urges President to Review VAT, Address Socioeconomic Hardships
The Accelerate Disability Inclusion in Emergencies Forum (ADIE) has called on President Bola Tinubu to revert the value-added tax (VAT)…
Nigeria Air’s Commencement of Operations Delayed Due to Lack of Airline Operator’s Certificate
The proposed national carrier of Nigeria, Nigeria Air, may face further delays in commencing operations as it lacks an Airline…
Nigerian Government Considers Selling Stakes in State-Owned Companies to Raise Funds
The Nigerian Federal Government is reportedly exploring the possibility of selling stakes in around 20 state-run companies as part of…
Nigerian Oil Marketers Urge Gradual Relaxation of Fuel Subsidy Removal
Oil marketers in Nigeria have advised President Bola Tinubu to consider a gradual relaxation of the removal of subsidy on…
Resilient Trade Relations Between Ghana and the USA Reach All-Time High
Trade relations between Ghana and the United States of America (USA) have demonstrated remarkable resilience, with bilateral trade in goods…