Ghana maintains high interest rate
Ghana’s central bank decided to keep its main interest rate at 29%, highlighting concerns over the country’s inflation outlook. Despite a slight increase in inflation in January followed by a…
EU restrictions on second-hand clothes exports to impact Kenya
France, Denmark, and Sweden have proposed restricting the export of used clothing from the European Union (EU), citing concerns about environmental pollution and social impact. This move could potentially harm…
Libya’s oil and gas minister temporarily suspended
The Government of National Unity in Libya has temporarily suspended its oil and gas minister, citing a legal investigation. The Administrative Control Agency (ACA) announced the decision on its verified…
Revenue grows despite currency fluctuations- SPAR
South African grocery retailer and wholesaler, SPAR, announced an 8.8% rise in turnover for the 24-week period ending March 15. However, the company noted ongoing challenges due to currency fluctuations…
China to support Zambia’s debt restructuring efforts
China has pledged to continue collaborating with all stakeholders to facilitate Zambia’s debt restructuring process, according to a spokesperson from the foreign ministry. While not explicitly endorsing the proposed deal…
Nigeria boosts power grid with new equipment
FGN Power Company, responsible for executing the Presidential Power Initiative (PPI) in Nigeria, has received 10 transformers and 10 Mobile Substations to enhance the nation’s transmission capacity. Kenny Anuwe, the…
Nigeria’s crude oil grades near $90 on Russia-Ukraine conflict
Nigeria’s oil futures, including Brass River and Qua Iboe, experienced gains on Wednesday due to escalating conflicts in the Middle East and between Russia and Ukraine, coupled with a decreasing…
BDC Gets 10k Dollars From CBN, To Sell At N1,269/$
Leaders of African nations have received a call to action to create a thriving economic environment for talented youth, aiming to reduce migration outside the continent in search of better…
Executive Order: Jos business owners lament Impact On Operations
Business owners in Jos, the capital of Plateau state, are expressing frustration over the prohibition of trucks from business areas in the state between 6:00 am and 9:00 pm. They…
Customs: cargo clearance drops by N124 To N1,448/$
The Nigeria Customs Service (NCS) has significantly reduced the exchange rate for cargo clearance and import duties collection from N1,572.5/$ to N1,448.38/$. This marks a decrease of N124.12 from the…
Binance executive fled Nigeria with smuggled passport – NSA
The National Security Adviser, Nuhu Ribadu, has confirmed the escape of Nadeem Anjarwalla, a suspect in the criminal investigation into Binance’s activities in Nigeria. Anjarwalla reportedly fled custody using a…
CBN sells $10,000 to each BDCs at N1,251/$1
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators, announcing the sale of $10,000 to each BDC at a rate of N1,251/$1. With…
Xiaomi unveils “SU7” electric car
Xiaomi’s CEO recently revealed plans for the company’s first electric vehicle, the SU7, aiming to make it the most stylish, user-friendly, and intelligent car priced below 500,000 yuan. Orders for…
USA: TikTok bill faces uncertain fate in the Senate
As the week begins, markets in Europe and globally are experiencing a slow start due to upcoming holidays. Despite the subdued activity, the U.S. is scheduled to release the Federal…
Southern Africa faces food crisis due to Drought
The United States Agency for International Development (USAID) has highlighted a dire situation in southern Africa, with over 20 million people in urgent need of food assistance in early 2024.…
Kenyan villagers build sand dams for water security
In Makueni, Kenya, residents of Kasengela village are taking matters into their own hands to secure water sources by constructing sand dams along dry riverbeds. Using locally available materials like…
NDIC calls on EFCC to return recovered funds
The Nigeria Deposit Insurance Corporation (NDIC) has urged the Economic and Financial Crimes Commission (EFCC) to return recovered funds to its coffers. NDIC Managing Director, Bello Hassan, emphasized the importance…
FG allocates land for diaspora city project in Abuja
The Minister of Housing and Urban Development, Ahmed Dangiwa, has announced that the Federal Government has allocated 675 hectares of land for the Diaspora City project in the Federal Capital…
Access bank launches offline banking platform
Access Bank Plc has introduced an offline banking platform called 901.ng to provide customers with an additional channel for conducting transactions and enhancing financial inclusion in Nigeria. The initiative comes…
BOI launches palliative food programme, support Nigerians
Launched by the Minister for Industry, Trade and Investment, Dr. Doris Uzoka-Anite, the Bank of Industry (BoI) has initiated a palliative food programme aimed at alleviating the economic hardships faced…
APWEN urges government action on water challenges
The Association of Professional Women Engineers of Nigeria (APWEN), Lagos Chapter, has called on the government to address water challenges in the country to bolster the resilience of cities. In…
Kaduna DisCo warns customers over unpaid bills
The management of Kaduna Electricity Distribution Company has clarified misconceptions surrounding the payment for electricity consumed during Ramadan by residents in Kebbi State. Contrary to speculations, Governor Nasir Idris of…
$7bn FX: OPS threatens to sue banks over rejected applications
Some businesses within the Organised Private Sector of Nigeria (OPSN) are contemplating legal action against commercial banks for prolonged delays in honoring forex requests. The OPSN is also calling for…
FG plans joint cable protection, disruption lingers in six countries
The Federal Government has urged West African nations to collaborate in protecting shared telecommunications infrastructure following a recent internet outage affecting the region. Aminu Maida, the Executive Vice Chairman of…
Dangote spends N15bn on food intervention programme
Aliko Dangote, President of the Dangote Group, has allocated approximately N15 billion to a food intervention programme launched in Kano. The program aims to distribute over one million 10kg bags…
Nigeria tightens regulations on Crypto operators
Nigeria is intensifying its oversight of the cryptocurrency industry by updating regulations for crypto operators, notably involving Binance. The Securities and Exchange Commission (SEC) has proposed significant amendments to the…
House of Rep passes bill for enhanced judicial salaries
The House of Representatives has approved a bill aimed at increasing salaries and allowances for judicial office holders in Nigeria. President Bola Ahmed Tinubu submitted the bill to the House…
Neuralink: Musk’s firm says first brain-chip patient plays online chess
Elon Musk’s brain-chip company, Neuralink, has showcased its groundbreaking technology by enabling its first patient, Noland Arbaugh, to control a cursor on a computer using an implanted device. In a…
Reddit IPO prices at top range, valued at $6.4 billion
Reddit has priced its shares at the top of the marketed range, valuing the social media platform at $6.4 billion (£5 billion). The company raised $748 million by selling 22…
Tinubu places ban on ministers’ foreign trips
President Bola Tinubu has put a temporary stop to ministers, agency heads, and government officials from going on publicly funded trips abroad. This ban will be in place for three…