African Business News

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

Betta Edu scandal EFCC grills CEOs of Zenith Providus Jaiz

EFCC Cracks Down on Illegal Forex Traders in Abuja as Naira Strengthens

By Ifunanya / February 22, 2024

Economic and Financial Crime Commission (EFCC) officials stormed the illegal Bureau de Change (BDC) market in Wuse Zone 4, Abuja, […]

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Nigerian Govt to boost food production through mechanisation

Nigerian Government Vows to Generate 100,000 Jobs for MSMEs

By Ifunanya / February 22, 2024

The Nigerian government has unveiled an ambitious plan to create over 100,000 new jobs by May 29, aiming to address […]

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GDP grows by 3.46% in Q3 2023

By IDBM Consult / February 22, 2024

February 22, 2024 The National Bureau of Statistics (NBS) on Thursday, February 22, said the country’s Gross Domestic Product (GDP) grew by […]

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gas

FG stops export of cooking gas to reduce price

By IDBM Consult / February 22, 2024

February 22, 2024 The federal government on Thursday, February 23, announced that it has stopped the exportation of Liquefied Petroleum […]

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Naira records first gain in 2024 against US dollar at

Surge in US Dollar Supply Boosts Naira at Official Forex Market

By Ifunanya / February 22, 2024

The US Dollar supply turnover at Wednesday’s official foreign exchange market witnessed a remarkable 51% surge, reaching $240.72 million, ultimately […]

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Nigeria/CBN: Ask dollar/naira billionaires for a $50b loan

By IDBM Consult / February 22, 2024

February 21, 2024 The African Development Bank under its determined president, Akinwumi Adesina is lifting Africa up with hope for the future. […]

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Nigeria’s Naira Devaluation: Expert Urges Government to Rethink EFCC Crackdown on BDCs

By Ifunanya / February 22, 2024

Bismarck Rewane, CEO of Financial Derivatives Company, has advised President Bola Tinubu to reconsider the recent clampdown by the Economic […]

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Fuel Shortage Sparks Queues in Lagos and Abuja

By Ifunanya / February 22, 2024

The reappearance of long queues at fuel stations in Lagos and the Federal Capital Territory has been attributed to supply […]

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Cement Price hike Nigerian Senate mulls probe

Nigerian Senate Launches Probe into Soaring Cement Prices

By Ifunanya / February 22, 2024

Amid concerns over the steep increase in cement prices, the Nigerian Senate has announced plans to investigate the matter. The […]

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Naira tumbles against US dollar at foreign exchange market

Naira Surges on Binance Amidst Nigerian Cyberspace Restriction Concerns

By Ifunanya / February 22, 2024

Nigeria’s local currency, Naira, witnessed a significant surge on the cryptocurrency platform Binance, coinciding with reports of potential access restrictions […]

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US seeks to expand bilateral trade with Nigeria

US Prioritizes Strengthening Trade Relations with Nigeria

By Ifunanya / February 22, 2024

The United States Consulate in Nigeria is committed to enhancing bilateral trade and investment for mutual prosperity between the United […]

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tincan road

Repair of Tincan road eases doing business, ends gridlock -Blue Economy Minister

By IDBM Consult / February 21, 2024

Feb 21, 2024 The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said the completion of the Tincan Port […]

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Tinubu signs Electricity Act 2024

Tinubu Names Ibrahim Gaga NEXIM Bank’s New Executive Director

By Ifunanya / February 21, 2024

In a recent announcement, President Bola Tinubu has selected Ibrahim Gaga to serve as the Executive Director of Corporate Services […]

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paris show

Nigeria to attend first Paris International Agricultural Show

By IDBM Consult / February 21, 2024

Feb 21, 2024 Nigeria will be attending its first Paris International Agricultural Show, which will be held from February 24 […]

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CBN lifts ban on cryptocurrency transactions

Central Bank of Nigeria Raises Cargo Clearance Exchange Rate to N1,605 per US Dollar Amidst Foreign Exchange Crisis

By Ifunanya / February 21, 2024

The Central Bank of Nigeria (CBN) has implemented its sixth exchange rate increase of 2024, setting the new rate for […]

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Hardship Federal govt announces plan to restart direct cash transfer

Government Plans to Restart Cash Transfers to Alleviate Hardship Amid Economic Crisis

By Ifunanya / February 21, 2024

The federal government of Nigeria has announced its intention to reinstate direct cash transfers to assist the country’s poorest and […]

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CBN’s Monetary Policy Committee Nominees Address FX and Food Crisis

By Ifunanya / February 21, 2024

The Central Bank of Nigeria’s Monetary Policy Committee (MPC) nominees have pledged to resolve the country’s foreign exchange and food […]

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binance

Forex Crisis: Binance and Other Crypto Firms Face Ban in Nigeria

By IDBM Consult / February 21, 2024

Forex Crisis: Binance, other crypto firms face ban in Nigeria February 21, 2024 The special adviser to the president on […]

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Senate Urges Government to Halt Removal of Electricity Subsidy

By IDBM Consult / February 21, 2024

February 21, 2024 – By Reporter The Senate on Wednesday, February 21, resolved to call on the federal government not […]

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JUST IN FG raises exchange rate for cargo clearance to

Government Raises Cargo Clearance Exchange Rate to N1,605/$

By Ifunanya / February 21, 2024

Image of cargo ship for illustrative purposes The Central Bank of Nigeria has once again adjusted the exchange rate for […]

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