Nigeria: Lagos Completes Infrastructure Work on the Blue Rail Line, Making History.
Lagos State Governor, Babajide Sanwo-Olu officially boarded the coach of the recently finished Lagos Blue Line and made history by…
Wells Fargo was Ordered to Compensate Customers $3.7 billion for Improper Behavior.
The largest-ever civil fine levied by the U.S. Consumer Financial Protection Bureau was levied against Wells Fargo & Co. (WFC.…
Russian Gold was Taken Out of Several Western Funds.
Russian gold worth billions of dollars have secretly changed hands in high-security bank vaults in London, Zurich, and New York…
Nigeria Generates N625.4 billion in VAT from the Manufacturing Sector in Q3 2022.
In the third quarter of 2022, the Federal Government of Nigeria (FGN) collected N625. 39 billion in value-added tax through…
Ghana’s Third-quarter Growth Dips to 2.9%
According to the statistics office, Ghana’s third quarter economic growth dropped to 2. 9% year over year from 6. 6%,…
Flight Difficulties are Looming as the Shortage of Aviation Fuel Grows.
Domestic airlines operating under the auspices of the Airline Operators of Nigeria have alerted Nigerians to anticipate delays in regularly…
Foreign Portfolio Investments in the Stock Market Reach Over 9-Year Low at 16.67%
Foreign portfolio investments in the Nigerian stock market decreased to 16.67% in the first 11 months of 2022, the lowest…
Nigeria’s Imports of Wheat Decrease as Business with Russia Drastically Declines.
In the first nine months of 2022, Nigeria imported durum wheat worth N753.6 billion, a 16.1% decrease from the N898.2…
Nigeria: Bayelsa Receives N90 billion in Oil Revenue from Surplus Crude Accounts.
The Bayelsa State Government confirmed that as of October 2022, it will receive N90 billion from the Federal Government’s Excess Crude…
Nigeria: FEC Grants N386.75 billion to the Ministries of Power, Works and Transportation.
The Federal Executive Council on Wednesday approved a total of N386.75bn for various projects in the federal ministries of Power,…
Revealed Deadline for Capital Market Participants’ Registration Renewal.
All capital market operators must complete the annual renewal of their registrations by January 31, 2023, according to Securities and…
The Central Bank of Nigeria Raises Withdrawal Thresholds to Combat Cash Flow.
In an effort to reduce the use of cash, Nigeria’s central bank significantly raised the weekly withdrawal caps it had…
NIMASA Attributes Rising Food Costs in Nigeria to Ship Insurance Issues.
The high cost of food in the nation has been attributed by the Nigerian Maritime Administration and Safety Agency to…
Nigeria FG Saved $16 billion from Port Concession, According to the Terminal Operators.
According to Seaports Terminal Operators of Nigeria, which represents terminal operators working in the country’s maritime industry, the port concession…
Buhari Seeks a New N819 billion Loan, as Domestic Debt Rises to N22.5 billion.
As the Federal Government proposed a last-minute supplementary budget for the 2022 fiscal year, Nigeria’s domestic debt increased to N22.57…
IMF Approves Disbursement of $447.39 million to Kenya
The International Monetary Fund’s (IMF) board has approved the disbursement of $447.39 million to Kenya after a review of its…
Amazon’s Market Value Declines by $1 trillion.
Amazon’s market value decreased by $1 trillion this year as a result of a stock market selloff, which was sparked…
Due to Halted Debt Payments, S&P Downgrades Ghana’s Sovereign Rating to “Selective Default.”
A day after Ghana announced it would stop making debt payments, the global rating agency S&P cut the country’s sovereign…
Nigeria Receives 20 Stolen Benin Bronzes from Germany.
According to German Foreign Minister Annalena Baerbock, Germany has returned 20 Benin Bronzes from its museums to Nigeria, making it…
According to the Nigerian FG, Oil Companies will resume Full Production.
Due to widespread pipeline vandalism and criminal oil theft in the Niger Delta region, major crude oil producers in Nigeria…
Nigeria FG Agree on NIPPS Sale to Pay for Budgets.
Final agreement has been reached between the federal government and the 36 governors of the states to sell five power…
Nigeria Misses OPEC Quota As Oil Production Shortfall Hits 6.9m Bpd In 11 Months.
Between January and November 2022, Nigeria’s production of crude oil fell by 6.9 million barrels per day (bpd). This is…
NIBSS: Mobile Transfers in Banks Increased by N2.1 trillion in November.
According to data from the Nigeria Inter-Bank Settlement System (NIBSS), bank customers in Nigeria transferred a total of N2. 1…
Nigeria Retail Trades on NGX Reached N26.62 billion.
According to data from the nation’s local bourse, retail transactions in the Nigerian Exchange rose by 10. 69% to N26.62…
Kenya: The CMA Grants Financial Intermediaries Four Licenses.
The Capital Markets Authority (CMA) has issued four licenses to banks and financial intermediaries as investment advisers, authorised depositories and…
Kenya: Consumers Suffer as Shilling Hits a New historic Low.
Following the shilling’s historic low against the dollar, which created the conditions for higher import costs and inflation, Kenyans are…
Gas Reserves: Nigeria FG Solicits Funding of N4 trillion
According to the Federal Government, N4 trillion will be needed in 10 years to fund the gas expansion plan. The…
Oil Rises as Expectations of Increased Demand from China Counter Recessionary Worries.
Oil prices increased after dropping by more than $2 a barrel in the previous session as hopes for the Chinese…
Nigeria FG Starts 11 Power Projects and Plans to Generate 3,750MW.
Four hydropower projects with a combined capacity to add 110 megawatts of electricity to the national grid were finished, the…
Government Defers Debt Payments while Conducting Consultations.
The government has temporarily stopped paying a number of foreign debts to organizations that have extended loans to the nation.…