African Business News

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

Naira depreciates against US Dollar at forex market

CBN Reports $1.5 Billion Inflow Boosting Economy Amid Rising Inflation

By Ifunanya / March 30, 2024

The Central Bank of Nigeria has reported a significant boost to the country’s economy, with over $1.5 billion flowing in […]

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Nigerias Ambitious Plan to Become a Vehicle Manufacturing Hub

Nigeria’s Ambitious Plan to Become a Vehicle Manufacturing Hub

By Ifunanya / March 30, 2024

Nigeria Aims to Become a Major Player in Vehicle Manufacturing Industry Nigeria is set to make a significant mark in […]

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Banks to disconnect non deposit financial institutions from transfer

CBN’s Effective Monetary Policy Results in $1.5bn Inflows, Naira Gains

By Ifunanya / March 30, 2024

The Central Bank of Nigeria has announced a significant boost to the Nigerian economy, with over $1.5 billion flowing in […]

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ph aba train

Port Harcourt-Aba railway to begin operation in April, says FG

By IDBM Consult / March 29, 2024

March 29, 2024 The federal government has pushed the  commencement date for the operation of the Port Harcourt –Aba section of […]

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Controversy Erupts Over N90 Billion Hajj Subsidy Amid Economic Hardship

Controversy Erupts Over N90 Billion Hajj Subsidy Amid Economic Hardship

By Ifunanya / March 29, 2024

Nigerians have expressed outrage over President Bola Tinubu’s government’s decision to allocate N90 billion for the subsidization of the 2024 […]

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CBN Removes Limits on PAPSS Transactions to Boost Intra-Africa Trade

By Ifunanya / March 29, 2024

The Central Bank of Nigeria (CBN) has made a significant move to boost trade and payment services transactions on the […]

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Boosting Nigerias Manufacturing Sector Calls for Government Subsidies and Access

Boosting Nigeria’s Manufacturing Sector: Calls for Government Subsidies and Access to Finance

By Ifunanya / March 29, 2024

Manufacturers in Nigeria are calling on the Federal Government to provide subsidies to the production industry in order to combat […]

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Nigeria Sovereign Investment Authority records ₦1.18tr Income in 2023

By IDBM Consult / March 29, 2024

March 29, 2024 The Nigeria Sovereign Investment Authority (NSIA ) has released its 2023 financial results. The Authority’s total operating […]

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naira dollar 1

Naira to sustain rally after 46% gain against dollar, says Rewane

By IDBM Consult / March 29, 2024

March 29, 2024 The naira will sustain ongoing rally at both official and parallel markets as dollar liquidity rises, Managing […]

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1707480609 CBN stops banks from referencing unaudited accounts in adverts

CBN to Monitor Nigerian Banking Sector Recapitalisation to Prevent Illicit Financing

By Ifunanya / March 29, 2024

The Central Bank of Nigeria is taking a proactive approach to monitor the recapitalization of the Nigerian banking sector in […]

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Naira depreciates against US Dollar at forex market

Naira Holds Strong at N1,300 Exchange Rate Against USD During Easter Holiday Trading

By Ifunanya / March 29, 2024

The Naira has held steady at an exchange rate of N1,300 against the US Dollar as the official foreign exchange […]

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NSIA Reports 1,122% Increase in Total Comprehensive Income to N1.18 Trillion

By Ifunanya / March 29, 2024

The Nigeria Sovereign Investment Authority, responsible for managing the country’s Sovereign Wealth Fund, has just announced a staggering 1,122% increase […]

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CBN Raises Minimum Capital Requirements for Banks, Sparking Bank Merger Talks

By Ifunanya / March 29, 2024

Bank mergers are on the horizon in Nigeria, as the Central Bank of Nigeria (CBN) has recently announced a significant […]

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Improving Nigerian Business Data Capacity for Sustainable Growth

Improving Nigerian Business Data Capacity for Sustainable Growth

By Ifunanya / March 29, 2024

As a data scientist at the University of Hull’s Energy and Environmental Institute in England, Olabode Adebola sheds light on […]

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cbn 3

CBN raises minimum capital requirements for banks

By IDBM Consult / March 28, 2024

March 28, 2024 The Central Bank of Nigeria (CBN) has unveiled a significant increase in minimum capital requirements for all banks operating […]

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Crypto King Sam Bankman-Fried Sentenced to 25 Years for FTX Fraud

By Ifunanya / March 28, 2024

Renowned American entrepreneur and cryptocurrency mogul, Sam Bankman-Fried, has been handed a hefty 25-year prison sentence for his role in […]

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crypto founder

Crypto founder Sam Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud

By IDBM Consult / March 28, 2024

March 28, 2024 Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion […]

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Cement price surges to N15000 in Abuja

Cement Price Drops by 22-26% in FCT: Dangote N7,800, BUA N11,000

By Ifunanya / March 28, 2024

The cost of cement has seen a significant decrease of 22% to 26% for a 50kg bag in the Federal […]

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binance exec

Binance executives drag NSA, EFCC to court

By IDBM Consult / March 28, 2024

March 28, 2024 The detained Binance executive, Tigran Gambaryan, has sued the National Security Adviser (NSA) Nuhu Ribadu, and the Economic […]

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Kerosene consumers experienced unprecedented price hike in 2023 NBS

Nigeria’s Average Healthy Diet Cost Jumps to N938/Day in February

By Ifunanya / March 28, 2024

In February 2024, Nigeria saw a significant increase in the average cost of a healthy diet, with individuals now spending […]

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