African Business News

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

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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 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-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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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 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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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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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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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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CBN’s interest hikes triple banks profits by 263%

By Ifunanya / May 15, 2024

Naira devaluation and Central Bank of Nigeria’s interest rate hikes tripled the earnings of some of Nigeria’s biggest banks in […]

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Nigerian Customs Service Forges Key Partnership with Chinese Customs Authority

By Ifunanya / May 12, 2024

The Nigerian Customs Service (NCS) has achieved a significant milestone by signing a Memorandum of Understanding (MoU) with the General […]

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Dana Air Lays Off Workers Amid Ongoing Regulatory Audit

By Ifunanya / May 12, 2024

Dana Air, weeks after its suspension by the Nigerian government, has taken the difficult decision to lay off several of […]

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SEC Introduces Stricter Rules for Private Company Securities Issuance

By Ifunanya / May 9, 2024

The Securities and Exchange Commission of Nigeria (SEC) has taken a significant step towards strengthening the oversight of securities issuance […]

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