Kenya Witnesses Surge in Dollar Deposits as Shilling Weakens
The value of dollar deposits in Kenyan commercial banks has surged by Sh528.56 billion in the first 10 months of…
Kenya Records Surge in Foreign Exchange Turnover, Hits N55.77 Trillion in 2023
Kenya has witnessed a significant surge in foreign exchange turnover, with a total of N55.77 trillion traded in…
PenCom Urges Former Employees to Reclaim N12 Billion in Transition Contribution…
The National Pension Commission (PenCom) has called on former employees of defunct companies to reclaim N12…
Bureau of Public Enterprises Plans to Sell 40% Government Shares in Discos on…
The Bureau of Public Enterprises (BPE) has revealed its intention to sell the remaining 40% government shares in…
MTN Nigeria Denies Network Disruption from Tower Lease to American Tower…
MTN Nigeria has refuted claims that the lease of its 2,500 towers to American Tower Corporation (ATC) would cause…
Nigeria Plans Tax Reforms, Small Businesses to Be Exempt from Withholding Taxes
The Presidential Fiscal Policy and Tax Reforms Committee in Nigeria is set to review national withholding tax…
Nigeria and World Bank Forge Partnership to Boost Mining Sector Development
The Federal Government of Nigeria, through the Ministry of Solid Minerals Development, is set to collaborate with…
Nigeria Set to List Key National Assets in Capital Market for 2024 Budget Funding
The Nigerian government has finalized plans to list prominent national assets, including Eleme Petrochemicals,…
Nigeria’s National Vehicle Registry Aims to Boost Revenue and Curb…
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted the significance of the…
British International Investment to Inject $15M Equity into Valency International…
The British International Investment (BII), the UK's development finance institution, is set to invest $15…
Large-Scale Theft of Power Infrastructure Worsens Nigeria’s Electricity…
Millions of Nigerians are grappling with prolonged power outages due to the widespread theft of critical power…
Nigeria’s Affluent Struggle Amidst Record Inflation: A Cry from the Rich to…
Nigeria, experiencing its highest inflation rate in 18 years, is witnessing the affluent class grappling with…
Political Turmoil in Rivers State: Wike’s Loyalists Defect to APC, Fueling…
The political landscape in Rivers State is undergoing a significant shift as 27 lawmakers loyal to Nyesom Wike,…
Nigerian Stock Market Seeks IPO Boost Amid Thirst for Listings
The Nigerian stock market has witnessed various forms of equity listings in 2023, including private placements,…
Central Bank of Nigeria Suspends Cash Deposit Fees, Affecting Banks and Customers
The Central Bank of Nigeria (CBN) has announced the immediate suspension of processing fees, ranging from two to…
Niger, Mali, Burkina Faso Explore Political and Monetary Alliance, Signal Shift…
Niger, Mali, and Burkina Faso are considering a political and monetary alliance, as announced by Niger’s military…
Nigerian Senate Urges Allocation of 10% Annual Budget Revenue to Agriculture for…
The Nigerian Senate has called on the federal government to allocate a minimum of 10% of the total annual budget…
Nigeria Loses N1.8 Trillion to Import Duty Exemption Certificate (IDEC) in 2023
The Nigeria Customs Service (NCS) has reported that Nigeria lost a significant sum of N1.8 trillion to Import…
Nigeria’s Q3 2023 VAT Collections Surge by 51.6% Year-on-Year, Reaching…
The National Bureau of Statistics (NBS) has reported a remarkable year-on-year increase of 51.6% in Value Added…
Rising Divestment Threatens Nigeria’s Manufacturing Sector as Multinationals…
While President Bola Tinubu seeks new investors to boost Nigeria's economy, recent reports reveal a troubling…
Central Bank of Nigeria Suspends Cash Deposit Processing Fees Amid Lingering Cash…
The Central Bank of Nigeria (CBN) has announced the suspension of processing fees on cash deposits, a move aimed…
Nigerian Manufacturing Sector Faces Severe Forex Losses, Impacting Profits
The manufacturing sector in Nigeria experienced a substantial 400% increase in net foreign exchange losses,…
Foreign Airlines Consider Exiting Nigeria Amid Currency Challenges
There are growing indications that foreign airlines might exit Nigeria's airspace due to a deteriorating…
Dangote Petroleum Refinery Set to Produce Diesel and Aviation Fuel in January…
The Dangote Petroleum Refinery is on track to commence production, with the processing of crude oil expected to…
Moody’s Upgrades Nigeria’s Outlook to Positive, Citing Reform Efforts…
Moody's, a prominent US-based rating agency, has revised Nigeria's outlook from stable to positive, acknowledging…
Nigeria Records N1.54tn Fiscal Deficit in July and August 2023, Despite Improved…
The Central Bank of Nigeria (CBN) has reported that the Federal Government of Nigeria recorded a fiscal deficit…
African Startups Embrace Debt Financing with Over $1.1 Billion Raised in 2023
African startups have increasingly turned to debt financing, raising over $1.1 billion as of November 2023,…
Flutterwave Expands Remittance Dominance with Acquisition of 13 US Payment…
Flutterwave, a prominent payment-focused fintech in Africa, has acquired payment licences for 13 states in the…
Oando Clean Energy (OCEL) Boosts Nigerian Electric Vehicle Efforts with Purchase…
Oando Clean Energy (OCEL), the renewable energy subsidiary of Oando Energy Resources, is supporting the Nigerian…
Implementation Challenges Stalling Gains from Nigeria’s Petroleum Industry…
Despite the enactment of the Petroleum Industry Act (PIA) over two years ago, at least 60% of Nigeria's oil…