African Business News

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

CBN reviews timeline for issuance of credit letters amid forex

Nigeria Considers Interest Rate Increase at CBN MPC Meeting Today

By Ifunanya / February 26, 2024

Nigeria is poised for a potential interest rate hike as the Central Bank of Nigeria’s Monetary Policy Committee (MPC) convenes […]

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Senator urges Tinubu to convene national stakeholders forum now

Senator Calls for Immediate National Stakeholders Forum Amid Economic Challenges

By Ifunanya / February 26, 2024

In the midst of a deepening cost of living crisis and escalating insecurity, Senator Ajagunnla Olubiyi Fadeyi, representing Osun Central, […]

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FG to revive 46 abandoned housing projects nationwide

Federal Mortgage Bank of Nigeria to Revitalize 46 Abandoned Housing Projects Nationwide

By Ifunanya / February 26, 2024

The Federal Mortgage Bank of Nigeria (FMBN) has embarked on a mission to breathe new life into approximately 46 deserted […]

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Naira fall 425 import duty hike will impoverish more Nigerians

Proposed Solution to Economic Hardship: CPPE Urges CBN to Set Customs Duty Exchange Rate at N1,000 per USD

By Ifunanya / February 25, 2024

The Centre for the Promotion of Private Enterprise is advocating for the Central Bank of Nigeria to establish the customs […]

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Inflation hardship CBN has no option than to tighten Monetary

Global Concerns Rise as Inflation Surges: Expert Recommends Tightening Monetary Policy

By Ifunanya / February 25, 2024

Bismarck Rewane, CEO of Financial Derivatives Company, recently highlighted the urgent need for the Central Bank Monetary Policy Committee to […]

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LP crisis Well account for all donations received during presidential

Nigeria’s Currency Crisis: Peter Obi Criticizes Government’s Raid on BDCs

By Ifunanya / February 25, 2024

In a bold critique, Peter Obi, the 2023 presidential candidate for the Labour Party, condemns the recent Economic and Financial […]

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Nigeria not ready for next epidemic – NSSF boss Chinye Nwoko

Nigeria’s Health Sector Struggles and the Impending Epidemic – Insights from NSSF Chief, Chinye-Nwoko

By Ifunanya / February 25, 2024

Interviewing Mrs. Oghenefejiro Chinye-Nwoko, the Chief Executive Officer of Nigeria Solidarity Support Fund, sheds light on the challenging landscape of […]

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Global Outrage as Price of Indomie Noodles Skyrockets to N18,000 per Carton

By Ifunanya / February 24, 2024

The price of Nigeria’s beloved instant noodle brand, Indomie, has seen an unprecedented surge, reaching an alarming N18,000 per carton […]

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CBN reviews timeline for issuance of credit letters amid forex

Forex Crisis: CBN issues fresh guidelines to banks against foreign currency speculation, hoarding

By Ifunanya / February 24, 2024

Amid the free fall of the Naira in the foreign exchange market, the Central Bank of Nigeria has issued fresh […]

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Banks to disconnect non deposit financial institutions from transfer

Support grows for relocation of CBN departments  to Lagos

By Ifunanya / February 24, 2024

Finance and economy analysts have shared perspectives on the relocation of some units and departments of the Central Bank of […]

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Nigerian Govt records N619trn from taxes in 2023s Q3

FCT-IRS extends deadline for tax filing

By Ifunanya / February 24, 2024

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has extended the deadline for annual tax return filings from January 31 […]

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First Bank announces appointment of Otedola as board chairman

First Bank announces appointment of Otedola as board chairman

By Ifunanya / February 24, 2024

First Bank of Nigeria, FBN, has announced the appointment of Mr Olufemi Peter Otedola as its new Chairman of the […]

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First Bank Holdings appoints Otedola board chairman

First Bank Holdings appoints Otedola board chairman

By Ifunanya / February 24, 2024

The First Bank of Nigeria Holdings has appointed Nigerian billionaire and businessman, Femi Otedola, as the new chairman of its […]

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PHarcourt refinery test run ongoing marketers project fuel price

P’Harcourt refinery test-run ongoing, marketers project fuel price

By Ifunanya / February 24, 2024

The Federal Government, on Wednesday, said the Port Harcourt Refining Company was still being test-run, adding that refined petroleum products […]

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Bureaux de change operators seek reversal of ban on forex

Bureau de Change operators shut down offices in Abuja as forex crisis worsens

By Ifunanya / February 24, 2024

Amid the foreign exchange crisis in Nigeria, Bureau de Change operators have announced the indefinite closure of their business premises […]

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FG spends N177bn on wage awards in four months

Government’s N177 Billion Spending on Civil Servants’ Wage Awards Sparks Protest and Promise

By Ifunanya / February 24, 2024

The Federal Government has disbursed N177.4 billion in just four months to fulfill its pledge of wage awards for civil […]

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CBN Contemplating Raising Minimum Capital for Bureau De Change Operators

By IDBM Consult / February 24, 2024

February 24, 2024 The Central Bank of Nigeria (CBN) is considering raising the minimum capital requirements for Bureau De Change […]

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CBN issues fresh guidelines to Customs on import clearance exchange

Central Bank of Nigeria Sets New Guidelines for Customs Exchange Rates

By Ifunanya / February 24, 2024

In response to multiple customs exchange rate adjustments, the Central Bank of Nigeria has directed the Nigerian Customs Service to […]

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Naira tumbles against US dollar at foreign exchange market

Nigeria’s Central Bank Targets Eliminating Street Trading and Sets New Rules for Currency Exchange

By Ifunanya / February 24, 2024

As Nigeria grapples with the fluctuating value of its currency, the Naira, against the US dollar, the Central Bank of […]

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Safety engineers join fight against building collapse

Safety Advocates Unite to Combat Building Collapse Crisis in Nigeria

By Ifunanya / February 24, 2024

In a bid to tackle the prevalent issue of building collapses in Nigeria, the Nigerian Institution of Safety Engineers has […]

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