African Business News

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

Naira Appreciation Continues Binance Speculators Proven Wrong by CBN Governor

Naira Appreciation Continues: Binance Speculators Proven Wrong by CBN Governor Cardoso

By Ifunanya / March 27, 2024

In a surprising turn of events, the Naira continues to rise in value in the foreign exchange market, much to […]

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Nigerias Interest Rate Hike to 2475 Sparks Inflation Concerns

Nigeria’s Interest Rate Hike to 24.75% Sparks Inflation Concerns

By Ifunanya / March 27, 2024

The recent decision by the Central Bank of Nigeria to increase the Monetary Policy Rate (MPR) from 22.75 per cent […]

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Naira records first gain in 2024 against US dollar at

Naira Appreciation Continues: Hits N1,290 per USD Amid CBN Interest Rate Hike

By Ifunanya / March 26, 2024

The Nigerian Naira’s strength against the US dollar continued to soar on Monday, reaching an impressive exchange rate of N1,290 […]

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CBN uncovers $2.4bn foreign exchange scam

By IDBM Consult / March 26, 2024

March 18, 2024 In a startling revelation, the Central Bank of Nigeria (CBN), Governor Yemi Cardoso, has disclosed that law enforcement agencies […]

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Nigerias outstanding forex backlog drops to 22bn from 45bn

CBN Governor Confirms Clearance of FX Backlog, Challenges Stakeholders to Verify

By Ifunanya / March 26, 2024

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has made a bold statement regarding the clearance of the […]

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FEC Approves Construction Of 28 Roads, Bridges Worth N1.267trn

By IDBM Consult / March 26, 2024

March 26, 2024 The Federal Executive Council (FEC) has approved the construction of 28 roads and bridges across the country […]

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Why petrol pump price will fall in 2024 CBN

Governor of Central Bank Collaborates with Nigerian Agencies on Binance Information Sharing

By Ifunanya / March 26, 2024

The Governor of the Central Bank, Olayemi Cardoso, recently provided an update on the collaboration between the apex bank and […]

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CBN MPC Raises MPR by 200 Basis Points in March

CBN MPC Raises MPR by 200 Basis Points in March 2024 Meeting

By Ifunanya / March 26, 2024

The Central Bank of Nigeria’s Monetary Policy Committee recently wrapped up its two-day meeting for March 2024, making it the […]

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BREAKING: CBN raises interest rate to 24.75% in bid to curb inflation

By IDBM Consult / March 26, 2024

March 26, 2024 The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has announced a significant increase in the […]

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CBN crashes retail forex rate by 3.4%

By IDBM Consult / March 26, 2024

March 26, 2024 The Central Bank of Nigeria (CBN) yesterday undercut foreign exchange (forex) speculation and deepened its quest for stronger naira […]

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Naira Appreciation Due to CBN FX Intervention Unsustainable Without Reserves

Naira Appreciation Due to CBN FX Intervention, Unsustainable Without Reserves

By Ifunanya / March 26, 2024

Financial analyst Kalu Aja has attributed the recent appreciation of the Naira in the foreign exchange market to interventions by […]

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National Assembly to partner WTO on improving Digital, Marine Economy

By IDBM Consult / March 26, 2024

March 26, 2024 The National Assembly has expressed willingness to collaborate with the World Trade Organisation (WTO) in the area […]

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EU Launches E9m Energy Projects in Nigeria for Sustainable Development

EU Launches €9m Energy Projects in Nigeria for Sustainable Development

By Ifunanya / March 26, 2024

The European Union has recently announced two new projects in Nigeria’s energy sector, with a total budget of €9 million. […]

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Global Oil Prices Surge to $85.67 as Geopolitical Tensions Escalate

By Ifunanya / March 26, 2024

The global oil market is experiencing a surge in prices, with Brent crude oil reaching $85.67 per barrel and West […]

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Nigerian Government Launches N12 Billion Recovery Plan for Ginger Farmers

Nigerian Government Launches N12 Billion Recovery Plan for Ginger Farmers

By Ifunanya / March 26, 2024

The Nigerian government has revealed the devastating impact of the ginger blight disease on farmers in four states, resulting in […]

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Legal Implications of Non Compliance with Annual Tax Returns in Lagos

Legal Implications of Non-Compliance with Annual Tax Returns in Lagos State

By Ifunanya / March 26, 2024

The Director of Legal Services at the Lagos State Internal Revenue Service, Mr. Seyi Alade, recently discussed the legal implications […]

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CBN adjusts forex sales to BCDs operators

By IDBM Consult / March 25, 2024

March 25, 2024 The Central Bank of Nigeria (CBN) has announced a revised policy for the sale of foreign exchange (FX) to […]

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Nigeria Approves 2% Youth Quota & Revamped Youth Investment Fund

By Ifunanya / March 25, 2024

The Federal Executive Council, under the leadership of President Bola Tinubu, has taken significant steps to empower the youth population […]

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Naira Appreciates Against USD: Exchange Rate Hits N1,360 – N1,408.04

By Ifunanya / March 25, 2024

The Nigerian naira’s value against the US dollar saw a significant increase on Monday, with rates ranging between N1,360 and […]

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1706098260 Inflation to fall in 2024 — Cardoso

CBN Resumes Sale of $10,000 to BDCs at N1,251/$1 Rate

By Ifunanya / March 25, 2024

The Central Bank of Nigeria has recently announced a significant development in the foreign exchange market, issuing a circular to […]

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