African Business News

Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.

CBNs Monetary Policy Rate Increase Wont Boost Economy Ex CBN Director

CBN Raises Interest Rate to 26.25% to Combat Soaring Inflation

By Ifunanya / May 21, 2024

The Central Bank of Nigeria (CBN) has increased the interest rate by 150 basis points, raising it from 24.75% to […]

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CAC to delist 91843 companies over failure to comply with

Only 20% of Registered Entities Pay Annual Returns, Says CAC Registrar General

By Ifunanya / May 20, 2024

The Registrar General (RG) of the Corporate Affairs Commission (CAC), Hussaini Magaji (SAN), has revealed that only 20 per cent […]

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CBNs Monetary Policy Rate Increase Wont Boost Economy Ex CBN Director

Financial Experts Warn of Naira Depreciation Amid Low FX Reserves and Investor Withdrawal

By Ifunanya / May 20, 2024

Financial experts have expressed concerns over the Central Bank of Nigeria’s (CBN) low net foreign exchange (FX) reserves and its […]

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CEO of MTN Nigeria Karl Toriola

MTN Nigeria CEO Defends Board’s Remuneration Amid Economic Challenges

By Ifunanya / May 20, 2024

Lagos, Nigeria – The Chief Executive Officer of MTN Nigeria Communications, Mr. Karl Toriola, has addressed concerns regarding the remuneration […]

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Banex Plaza Remains Shut as Soldiers Maintain Presence After Thug Attack

By Ifunanya / May 20, 2024

Banex Plaza, a major electronics and telecommunications market in Abuja, remains closed, as soldiers maintain their presence following a recent […]

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CBN reviews timeline for issuance of credit letters amid forex

CBN Halts 0.5% Cybersecurity Levy Following Presidential Directive

By Ifunanya / May 20, 2024

The Central Bank of Nigeria (CBN) has directed all banks to cease the implementation of a 0.5 per cent cybersecurity […]

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Air Peace 777

Air Peace Faces Safety Violation Allegations from UK After Duke and Duchess of Sussex Flew Airline in Nigeria

By Ifunanya / May 20, 2024

The United Kingdom Civil Aviation Authority (UK CAA) has raised safety concerns about Nigerian airline Air Peace. The UK CAA […]

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German ambassador to Nigeria

German-Nigerian Trade Relations Hit €3 Billion, Ambassador Annett Gunther Reveals

By Ifunanya / May 19, 2024

The German Ambassador to Nigeria, Mrs. Annett Gunther, announced that trade relations between the Federal Republic of Nigeria and the […]

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IMF

IMF: Import Restrictions and Forex Shortages Stifle African Business Growth

By Ifunanya / May 19, 2024

The International Monetary Fund (IMF) has reported that import restrictions and foreign currency scarcity are hindering business growth in Nigeria […]

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US and Nigeria Strengthen Aviation Ties with New Air Transport Agreement

By Ifunanya / May 19, 2024

The United States and Nigeria have taken a significant step towards enhancing their bilateral aviation relationship by announcing the reintroduction […]

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Dangote Predicts End to Nigeria’s Fuel Importation by June 2024

By Ifunanya / May 19, 2024

In a recent announcement at the Africa CEO Forum Annual Summit in Kigali, Aliko Dangote, the Chairman of the Dangote […]

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Banks

South Africa’s Top Banks in 2024: A Look at the Leaders

By Chinonso / May 17, 2024

South Africa’s banking sector thrives on competition, with each institution offering unique strengths and catering to specific customer segments. Here’s […]

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top 10 Banks in Nigeria

Nigeria’s Banking Titans: A 2024 Snapshot of the Country’s Largest Financial Institutions

By Ifunanya / May 17, 2024

Nigeria’s banking sector is a crucial engine for economic growth, providing financial services to individuals, businesses, and the government. Here, […]

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Court Denies Binance Executive, Tigran Gambaryan Bail

By Ifunanya / May 17, 2024

A Federal High Court sitting in Abuja has denied the bail application of Tigran Gambaryan, an executive of Binance, a […]

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Kucoin

Crypto Exchanges Start Delisting Of Naira From Platforms

By Ifunanya / May 17, 2024

Following the directives of the Office of the National Security Adviser and the Securities and Exchange Commission (SEC) that the […]

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Emirates B777 300ER A6 EBD 1

Emirates Airlines to Resume Flights to Nigeria from October 1st

By Ifunanya / May 16, 2024

Emirates Airlines has announced that it will resume services to Nigeria from October 1, 2024. Flights to Nigeria were previously halted […]

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Africas Economic Growth Projections World Bank Forecasts 34 Growth in

World Bank Blacklists 58 Nigerian Companies, Individuals Over Corruption

By Ifunanya / May 16, 2024

The World Bank has blacklisted 58 Nigerian companies and individuals for engaging in corrupt practices, a move which comes as […]

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bodija market

Food inflation in Nigeria has increased to 40.53%

By Ifunanya / May 15, 2024

Hardship in Nigeria has worsened as the country’s food inflation increased to 40.53 per cent in April from 40.01 per […]

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IMG 20240515 WA0005

Traders confused, stranded as Adamawa govt demolishes Yola Shopping Complex

By Ifunanya / May 15, 2024

Traders, artisans and other owners of shops at the famous Shopping Complex, Jimeta, Yola, were left stranded Wednesday as the […]

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CNG

Presidential committee to commence nationwide deployment of CNG by May 29

By Ifunanya / May 15, 2024

The Presidential Compressed Natural Gas Initiative, PCNGI, has announced a series of activities leading to a nationwide deployment on May […]

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