Nigeria’s Solid Minerals Sector Falls Short of Trillion Naira Revenue Mark in 15 Years
Despite being rich in 44 different types of commercially viable minerals, Nigeria’s solid minerals sector failed to generate up to…
Year: 2023
U.S. judge orders Chicago State Uni to release all documents on Tinubu
Judge Jeffrey Gilbert of the Northern District of Illinois Court in the United States has ordered the management of Chicago…
New Central Bank Governor Faces Economic Challenges in Nigeria
The incoming governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will take office amidst significant economic challenges. Rising…
Equity Bank Partners with Mastercard for Cross-Border Payment Solutions
Equity Bank has entered into a Customer Business Agreement with Mastercard to offer a range of payment solutions, including cross-border…
East African Breweries (EABL) Sees Employee Count Drop Below 1,500
East African Breweries Plc (EABL) has reported a reduction in its headcount by 168 in the fiscal year ending June,…
FAAC Investigates NNPC’s Handling of NLNG Profits
The Federation Account Allocation Committee (FAAC) has launched an investigation into the actions of the Nigerian National Petroleum Corporation (NNPC)…
IMF and World Bank Confirm 2023 Annual Meetings in Morocco Despite Recent Earthquake
The International Monetary Fund (IMF) and the World Bank have confirmed that their scheduled 2023 Annual Meetings will proceed in…
Nigeria’s 5G Subscriptions Reach 500,000, Broadband Coverage Target Set at 50%
The Nigerian Communications Commission (NCC) announced that subscriptions to 5G services in Nigeria have reached 500,000, showcasing significant progress in…
President Bola Ahmed Tinubu to Ring NASDAQ Closing Bell in New York
President Bola Ahmed Tinubu of Nigeria is set to ring the Closing Bell of NASDAQ in New York, United States,…
U.S. Treasury Deputy Secretary Outlines Four Economic Reform Priorities for Nigeria
The U.S. Deputy Secretary of the Treasury, Mr. Wally Adeyemo, has highlighted four economic reform priorities for Nigeria during a…
SEC Projects Non-Interest Market Value to Reach N5 Trillion Within Two Years
The Securities and Exchange Commission (SEC) has stated that the market value of non-interest products in Nigeria could potentially reach…
CBN Warns International Money Transfer Operators Against Sharp Practices
The Central Bank of Nigeria (CBN) has issued a warning to International Money Transfer Operators (IMTOs) regarding arbitrary rate quotes…
Federal Government Reopens D Wing of Old International Terminal at Lagos Airport
The Federal Government has officially reopened the D Wing of the old international terminal at the Murtala Muhammed International Airport…
Suspended Central Bank Governor Godwin Emefiele Resigns, Clearing the Way for New Appointment
Godwin Emefiele, the suspended governor of the Central Bank of Nigeria, reportedly resigned from his post last month. This move…
Nigerian National Petroleum Company Limited Reports N18.4 Billion Profit in Q1 2023 Post OVH Energy Acquisition
The Nigerian National Petroleum Company Limited (NNPCL) announced a profit of N18.4 billion in the first quarter of 2023, less…
Nigeria’s Inflation Rises to 25.80% in August, Food Prices Surge
In August 2023, Nigeria’s inflation rate surged to 25.80% from 24.08% in July, according to the National Bureau of Statistics.…
Nigeria’s Currency in Circulation Reaches Highest Level in 2023 Amid Rising Inflation
The Central Bank of Nigeria (CBN) reported that currency in circulation in Nigeria increased to N2.66 trillion in August, marking…
NNPC and Indorama Sign MOU for $18 Billion Hydrocarbon Exploration Deal
The Nigerian National Petroleum Company Limited (NNPCL) and Indorama Eleme Petrochemicals Limited have entered into a Memorandum of Understanding (MOU)…
Rubis Energy Converts €30 Million in Pending Fuel Subsidy Dues into Government Bonds
Rubis Energy Kenya, an oil marketer, converted €30 million (Sh4.7 billion) worth of pending fuel subsidy dues into government bonds…
Return on Fixed Deposits Outpace Inflation in July for the First Time in 15 Months
In July, the return on fixed deposits in Kenya surpassed inflation rates for the first time in 15 months. Banks…
Gender Wage Gap in Kenya: Women Earn 34.2% Less Than Men, Survey Reveals
Data from the first quarter of the 2022 Annual Household Income and Expenditure Survey (AHIES) in Kenya highlights a significant…
Kenyan Treasury Relies on Short-Term Bond Reopenings to Raise Ksh 222 Billion
The National Treasury in Kenya has utilized multiple reopenings of short-term bonds to secure Ksh 222 billion since May. By…
Investor-Founder Disconnect Poses Major Threat to African Tech Funding
A recent report from Wimbart, a PR agency specializing in tech and startup sectors across Africa and emerging markets, has…
TraditionData Expands Global Fixed Income Offering, Now Covers Over 20,000 Securities from bonds.com Network
TraditionData, the market data and intelligence division of Compagnie Financière Tradition, has extended its global fixed income offering to include…
Pan-African Fund Managers’ Association (PAFMA) Launched to Foster Alternative Investments in Africa
The Pan-African Fund Managers’ Association (PAFMA) was inaugurated in Nairobi, Kenya during the Africa Climate Summit 2023. PAFMA is a…
Valu Successfully Closes EGP 922.3 Million Securitized Bond Issuance in Partnership with EFG Hermes
Valu, a leading financial technology provider in the MENA region, has announced the successful completion of its sixth securitized bond…
Joliba Capital Raises €55 Million in First Close of Joliba Fund I, Backed by IFC, Proparco, FMO, and LBO France
Abidjan-based private equity firm Joliba Capital has achieved the first close of its Joliba Fund I, securing €55 million in…
Tana Africa Capital Exits Investment in IEG, Facilitating Acquisition by Globeducate
Tana Africa Capital has successfully exited its investment in IEG, a network of schools operating in Morocco and the Netherlands.…
Emata Secures $2.4 Million Seed Funding to Expand Digital Agri-Loan Offering in East Africa
Emata, an agricultural finance solution for East African farmers, has successfully raised $2.4 million in seed funding, comprising both equity…
China’s Central Bank Cuts Reserve Ratio to Boost Liquidity and Support Economic Recovery
The People’s Bank of China (PBOC) has announced a 25 basis points reduction in the reserve requirement ratio (RRR) for…