Ghana Revenue Authority Denies Acquiring US$75 Million Loan Amidst Parliamentary Inquiry Calls
The Ghana Revenue Authority (GRA) has strongly refuted claims made by MP Isaac Adongo that it accessed a US$75 million…
Author: ayotilewa
Sharp Surge in Dollar Inflow Through CBN: July 2023 Economic Report”
In July 2023, the Central Bank of Nigeria (CBN) witnessed a substantial surge in dollar inflow, marking a notable increase…
OpenAI Rehires Sam Altman as CEO Following Initial Sacking
Introduction:OpenAI, the artificial intelligence research laboratory, has announced an agreement to rehire Sam Altman as CEO, just three days after…
Goodwell Investments Leads $8.5M Series B Round for Zambian Social Enterprise Good Nature Agro
Impact investor Goodwell Investments, in collaboration with Oikocredit and Global Partnerships/Eleos Social Venture Fund (GP SVF), has invested $8.5 million…
Naira Plummets to ₦1,290/$1, Sparks Concerns
The Nigerian Naira has experienced a sharp decline, reaching ₦1,290 to $1 in key markets, including Abuja. This significant drop…
Oasis Capital Ghana Announces Successful Exit from Legacy Girls College
Oasis Capital Ghana, an SME growth equity investor in West Africa, has announced its successful exit from Legacy Girls College…
Export Expansion Grant Backlogs and Bureaucracy Hamper Nigeria’s Revenue Diversification Efforts
The Export Expansion Grant (EEG), Nigeria’s primary incentive scheme for exporters, has faced challenges including corruption allegations and a lack…
Atiku Abubakar to Address President Tinubu’s Academic Records in Press Conference
Atiku Abubakar, the People’s Democratic Party’s presidential candidate, is scheduled to hold a press conference today, where he is expected…
$1.5 Billion COVID-19 Delivery Scheme Halted, Leaving Thousands of Health Workers Unpaid
Over 22,000 health workers, including Nigerians, have been left stranded after a $1.5 billion COVID-19 delivery scheme, backed by the…
Nigerian National Petroleum Company Spends N34.47 Billion on Pipeline Repairs in 18 Months
The Nigerian National Petroleum Company Limited (NNPCL) has allocated nearly N34.47 billion towards the repair and management of pipelines over…
Olam Group Disputes Nigerian Media’s Forex Fraud Allegations
Singapore-based Olam Group has strongly refuted recent reports from Nigerian media claiming its African units were involved in a multi-billion-dollar…
G20 to Grant Permanent Membership to African Union
The G20, a grouping of major world economies, has reportedly agreed to grant permanent membership to the African Union, according…
Foreign Firms Repatriated $5.86 Billion from Nigeria Between October 2022 and March 2023
Foreign firms repatriated $5.86 billion from the Nigerian economy between October 2022 and March 2023, with $5.13 billion repatriated as…
South African E-commerce Subscription Platform Rentoza Secures $6 Million Investment
Rentoza, a South African online subscription platform, has successfully secured $6 million in funding from two prominent investors, leading a…
A.P. Moller Capital Completes Acquisition of Vector Logistics
A.P. Moller Capital and RCL FOODS have successfully closed the acquisition deal of Vector Logistics. Vector Logistics is a leading…
Ukraine and Russia Clash Over Black Sea Oil and Gas Platforms; Military Activity Intensifies
The UK Ministry of Defence has reported that Ukraine and Russia are engaged in a conflict over strategic oil and…
Uncertain Prospects for Port Harcourt Refinery Restart as Doubts Surface Over Deadline
The hopes for the Port Harcourt refinery’s resumption of fuel production by December 2023, following its Turn Around Maintenance (TAM)…
BP CEO Discusses $3.5 Billion Investment Plan in Egypt with President and Minister
Bernard Looney, the CEO of BP, engaged in discussions today with Egypt’s President Abdel Fattah al-Sisi and Minister of Petroleum…
Analysts Predict Second-Half Growth Surge Amidst Q2 Economic Slowdown
Despite the economic growth dipping to 2.51% in the second quarter of the year, experts anticipate that a combination of…
Tony Elumelu Urges Bold Strategies for Nigeria’s Transformation at NBA Conference
Tony Elumelu, the Group Chairman of United Bank for Africa (UBA) Plc, emphasized the critical necessity for innovative and bold…
Nigeria’s Unclaimed Dividend Reaches N190 Billion; SEC Implements Reforms for Efficiency
At a post Capital Market Committee (CMC) press briefing, Dayo Obisan, the executive commissioner in charge of operations at the…
Foreign Investment in Nigerian Stocks Hits Lowest Level Since Reform-Driven Rally; Currency Concerns Loom Large
Foreign investment in Nigerian stocks has dropped to its lowest point since President Bola Tinubu’s reforms initiated a significant market…
Surge in BUA Foods and Dangote Sugar Stocks Sparks Market Rally, Adding N324 Billion to Market Capitalization
The Nigerian stock market kicked off the week on a positive note as renewed investor interest in key stocks like…
Unclaimed dividend grows by 7.35% to N190bn, says SEC
The total value of unclaimed dividends in Nigeria has risen to N190 billion, marking a 7.35% increase from the N177…
NCI fund: BoI, NCDMB disburse N38.4bn for oil, gas investors
The Nigerian Content Intervention (NCI) Fund, managed by the Bank of Industry (BoI) under the Nigerian Content Development and Monitoring…
Commercial Banks in Nigeria Seek Central Bank Liquidity Amidst Increasing Borrowing Trend
Commercial banks and merchant banks in Nigeria are turning to the Central Bank of Nigeria (CBN) for liquidity, intensifying their…
Nairobi Stock Exchange Sees 50% Plunge in Investor Wealth in 2 Years”
Investor wealth in the Nairobi Securities Exchange (NSE) has been cut in half since reaching its record high valuation of…
Kenya Re to Exit Indian Market Amid Heavy Losses from Agricultural Sector
Kenya Re, one of Kenya’s leading reinsurance companies, is planning to exit the Indian market due to increased losses primarily…
Rwanda’s Bus Shortage Fuels Unregulated Alternatives, Raises Concerns of Fraudulent Ticketing Practices
The ongoing shortage of public buses in Rwanda has led to a host of issues for commuters, prompting the emergence…
Surprising Surge: Kenyan One-Year Treasury Bill Interest Rates Spike to 14% Despite Government’s Borrowing Cut Plans
In an unexpected twist, the interest rate on the one-year Treasury bill in Kenya soared to a remarkable 14% during…