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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CBN revokes licenses of over 4,000 Bureau De Change operators

By IDBM Consult / March 1, 2024

March 1, 2024 The CBN invoked its powers under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. […]

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MTN Nigeria Plc Reports N1778bn Loss Due to Forex Devaluation

MTN Nigeria Plc Reports N177.8bn Loss Due to Forex Devaluation

By Ifunanya / March 1, 2024

MTN Nigeria Plc, one of the leading telecom operators in the country, faced a significant financial setback in 2023. The […]

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Nigerian Govt hits Binance with $10bn fine

By Ifunanya / March 1, 2024

The Nigerian government has fined Binance $10 billion as its crackdown on the crypto exchange platform escalates. The development comes […]

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CBN lifts ban on cryptocurrency transactions

Central Bank of Nigeria to Sell N1.64 Trillion Treasury Bills in Q2 2024

By Ifunanya / March 1, 2024

The Central Bank of Nigeria has announced its plan to sell N1.64 trillion worth of Treasury Bills in the second […]

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Tinubu Directs Dangote, BUA, Other Companies To Revert Cement To Old Prices

By IDBM Consult / March 1, 2024

February 29, 2024 President Bola Ahmed Tinubu has directed cement companies in Nigeria to reverse the recent hike in the […]

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sachet water

Sachet water producers warn of impending price hike

By IDBM Consult / February 29, 2024

Feb 28, 2024 ….decry increases in prices of packaging materials and multiple taxes …..Say ‘pure water’ may soon sell for […]

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No extension Telcos speak on NIN SIM linkage deadline in

No extension – Telcos speak on NIN-SIM linkage deadline in Nigeria

By Ifunanya / February 29, 2024

Telecommunications companies say no extension exists for the National Identity Number and Subscribers Identification Module linkage deadline. Gbenga Adebayo, Chairman […]

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CBN plans tough sanctions for banks

CBN plans tough sanctions for banks

By Ifunanya / February 29, 2024

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has vowed to pursue an aggressive regulatory environment to reduce […]

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Nissan plans self driving taxi service

Nissan plans self-driving taxi service

By Ifunanya / February 29, 2024

Nissan is planning to launch a self-driving taxi service in Japan in the financial year starting April 2027, the auto […]

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Kerosene consumers experienced unprecedented price hike in 2023 NBS

NBS names three states with highest prices of cooking gas

By Ifunanya / February 29, 2024

The National Bureau of Statistics, NBS, says Cross River, Jigawa, and Zamfara states have the highest prices of 12.5kg of […]

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Domestic transactions in NGX increase to 3167trn in 2023

NGX continues bearish trend as investors lose N700bn amid CBN’s interest rate hike

By Ifunanya / February 29, 2024

The Nigeria Exchange Limited continued its bearish trend on Wednesday as investors recorded a N700,000 billion loss, 24 hours after […]

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Support local producers to grow naira Manufacturers to FG

Support local producers to grow naira – Manufacturers to FG

By Ifunanya / February 29, 2024

Manufacturers Association of Nigeria, MAN, has asked the Federal Government to support local producers to further strengthen the economy and […]

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Naira tumbles against US dollar at foreign exchange market

Naira appreciates against USD at forex market amid Binance clampdown

By Ifunanya / February 29, 2024

Naira has returned to its appreciation against the US dollar in the foreign exchange market amid the restriction of Binance, […]

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BREAKING NEWS: Coinbase customers are stunned to find accounts WIPED OUT

By IDBM Consult / February 29, 2024

February 28, 2024 Horrified Coinbase users have shared their shock at discovering their accounts on the crypto trading app wiped […]

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lagos redline

Lagos demolishes shanties as Tinubu commissions Red Line Train today 

By IDBM Consult / February 28, 2024

Feb 28, 2024 Shanties that were erected by the rail tracks in Lagos were cleared yesterday by the state government […]

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nin

11 million SIMs not linked to NINs to be blocked

By IDBM Consult / February 28, 2024

Feb 28, 2024 A total of about 11.2 million active Subscriber Identity Module (SIM) cards that are yet to be […]

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Two Binance executives arrested, detained in crypto crackdown

By IDBM Consult / February 28, 2024

February 28, 2024 Two senior executives at Binance have been detained in Nigeria. According to Financial Times (FT), a UK-based […]

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multichoice

Reps to probe MultiChoice N1.8 trillion, $342 million debt to Nigerian government

By IDBM Consult / February 28, 2024

February 28, 2024 The House of Representatives on Wednesday, February 28, resolved to investigate why MultiChoice Nigeria has failed to remit about […]

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Blackout hits Abuja over vandalization of TCNs tower

Blackout hits Abuja over vandalization of TCN’s tower

By Ifunanya / February 28, 2024

Parts of Abuja, Nigeria’s capital, are experiencing blackout and drop in power supply on Wednesday over the vandalization of Transmission […]

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flight attendant

I’m a flight attendant — here’s the ‘scary’ reason why we sit on our hands

By IDBM Consult / February 28, 2024

February 28, 2024 Brace yourself for the turbulent truth. Although they’re called the friendly skies, jet-setting off into the clouds […]

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