American Banks Prepare for a Recession and Declining Profits.
Despite lenders stockpiling funds for rainy days in anticipation of an economic slowdown that is wreaking havoc on investment banking,…
Year: 2023
Nigeria Selects 139 Companies to Commercialize Gas Flaring.
Nigeria, the largest economy in Africa, has been attempting to capture the gas emitted from its oil fields for export.…
Why Nigerian Ships are Unable to Lift Crude-Ex-COMD-NNPC.
According to Kon Bob-Manuel, a former general manager of shipping and terminal operations for the Nigerian National Petroleum Corporation’s crude…
Nigeria FG Orders NNPC to Lower Fuel Prices.
According to Chief Timipre Sylva, the Minister of State for Petroleum Resources, the Nigerian National Petroleum Company Limited is selling…
Airtel Receives a 5G License, and Mafab Starts Testing.
In order to deploy a fifth-generation network, Airtel Networks Limited has paid the Nigerian Communications Commission $316. 7 million for…
Nigeria Records N170.2 Trillion In Foreign Trade In 5 Years.
According to analysis of National Bureau of Statistics (NBS) reports, trade between Nigeria and other nations reached N170. 265 trillion…
Nigeria Misses 70% Vaccination COVID-19 Goal.
Despite efforts on the part of the federal government to fully immunize 55.3 percent of the country’s eligible population against…
CBN: Banks are free to use ATMs to Pay Any denomination.
The Central Bank of Nigeria (CBN) may have rescinded its earlier order prohibiting banks from loading higher denomination banknotes into…
Microsoft Plans to Invest $10 billion in ChatGPT Owner.
Microsoft Corp. (MSFT. O) is in discussions to invest $10 billion in OpenAI, the company that owns ChatGPT a chatbot,…
Ventures Platform Fund Exceeds $40 million Goal.
Ventures Platform, a pan-African venture capital firm that supports the next generation of African technology entrepreneurs, closed its early-stage and…
TLG and UGFS: First Close for Tunisia-based Empower Fund.
The Empower Fund, created by the CDC Tunisia, has announced its first close, according to UGFS and TLG Capital. The…
Sahel Capital Withdraws its Investment in L&Z Farms.
According to a statement from L&Z Integrated Farms Limited, an integrated dairy processing business in Nigeria, Sahel Capital has left…
Plension Capital Firm Launches and Discloses First Transaction.
Plesion Capital announced its establishment as a social impact venture capital company dedicated to collaborating with entrepreneurs and businesses with…
SPE Capital Purchases the Majority of Vital to AIF I’s portfolio.
SPE Capital, an investment company with a focus on Africa and the Middle East, announces the acquisition of a majority…
Tanzania: Oil Traders Forecast that Local Gasoline Prices will Stabilize 2023.
The year 2023 began with petroleum products moving in a variety of directions, predictions for the stability of fuel prices…
Ghana’s Currency Depreciates Further Against the US Dollar.
Despite performing admirably over the past month, the Ghana cedi is now starting to lag behind the US dollar. According…
Kenya: Bondholders Bid Sh39 billion at the Switch Auction.
The switch auction, which closed on November 30, 2022 was largely occupied by holders of the two-year bond that matured…
LCCI Requests that the Nigeria FG Changes the Petroleum Profit Tax Act.
The Petroleum Profit Tax Act has been requested to be amended to include the same clauses as Section 104 of…
Tax Experts Disagree with The ASUU’s 10% Education Tax.
To pay for the infrastructure in Nigeria’s universities, ASUU President Prof. Emmanuel Osedeke recently proposed raising the education tax from…
Why Increase Tax on Imported Cars? Agents Angrily Protest.
Following the Nigeria Customs Service’s decision to increase duty on imported vehicles by 10%, freight forwarders have warned that there…
Nigerian Market will Benefit from Canadian Real Estate Policy.
According to stakeholders, Canada’s decision to ban foreign real estate investors will have a positive effect on the real estate…
Nigeria Will Restrict Cash withdrawals from Government Accounts.
According to a statement from the head of the Nigerian Financial Intelligence Unit (NFIU), Nigerian officials will no longer be…
NIMASA: The Key to Effective Port and Flag Administration is Standardized Digital Communication.
According to Dr. Bashir Jamoh, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), international cooperation to achieve…
Nigeria’s Oil Output Reaches its Highest Level in Nine Months Due to Crude Oil Theft.
According to data released by the Nigerian Upstream Petroleum Regulatory Commission, Nigeria’s crude oil production increased to 1. 235 million…
The closure of Naira Cards alarms Traveling Bank Customers.
Nigerians won’t be able to use their Naira debit cards for international transactions as the continent’s largest economy and top…
2022 Saw a Record-breaking Global Food Prices.
The average price index of the UN food agency reached its highest level ever last year, according to Reuters, as…
Inflation in the Euro Zone Drops To 9.2% as Energy Prices Stabilize.
The European Central Bank is not expected to change its stance in response to the euro zone’s inflation declining for…
The Niger Government Enacts a N243 billion Appropriation Bill.
The 2023 appropriations bill, totaling more than N243 billion, has been signed into law by Niger State Governor Abubakar Sani-Bello.…
Customs Seize 156 Trailers Carrying Grains, PMS, and Other Items.
According to the Federal Operations Unit, Zone A of the Nigeria Customs Service, 93,102 bags of 50kg rice—equivalent to 156…
NNPC Denies Exporting 17.88m Barrels Crude Oil without Proper Documentation.
The Nigerian National Petroleum Company Limited disputed claims that the oil company illegally exported 17.88 million barrels of crude oil.…