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 as Naira Plummets: 50 Arrested in Abuja

By Ifunanya / February 19, 2024

The Economic and Financial Crime Commission (EFCC) conducted a raid in Wuse Zone 4, Abuja, resulting in the arrest of […]

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Nigerias unemployment rate hits 08 in 2023 Q3 — NBS

Nigeria’s Unemployment Rate Surges to 5.0% in Q3 2023, NBS Reports

By Ifunanya / February 19, 2024

In the third quarter of 2023, Nigeria’s unemployment rate climbed by 0.8%, reaching 5.0% as per the National Bureau of […]

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Tinubus presidential villa 85 other MDAs owe AEDC N47195bn

Tinubu’s Presidential Villa and 85 Other MDAs Owe AEDC N47,195 Billion

By Ifunanya / February 19, 2024

A recent disclosure by the Abuja Electricity Distribution Company (AEDC) revealed that President Bola Tinubu’s Presidential villa and 85 other […]

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JUST IN: Naira falls to N2,000/1£ at parallel market

By IDBM Consult / February 19, 2024

February 19, 2024 The local currency in Nigeria (naira) is currently trading at over 2,000 against the British pound in […]

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Manufacturers fear 55 million job loss

Manufacturers Face Imminent Job Loss Amid Alcohol Packaging Ban

By Ifunanya / February 19, 2024

The Distillers and Blenders Association of Nigeria (DIBAN) has issued a stark warning, declaring that the recent ban on the […]

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Jigawa to convert Dutse airfield to cargo airport to boost

Jigawa State Plans to Transform Dutse Airfield into Cargo Airport to Drive International Trade

By Ifunanya / February 19, 2024

The Governor of Jigawa State, Alhaji Umar Namadi, has unveiled a strategic initiative to convert Dutse Airport into a cargo […]

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Hardship Unrest imminent in Nigeria three other African countries

Warning: Economic Hardship Sparks Potential Unrest in Nigeria and 3 Other African Nations

By Ifunanya / February 19, 2024

The African Development Bank has raised concerns about the possibility of social unrest in Nigeria, Ethiopia, Angola, and Kenya due […]

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NBA criticizes Gombe govts demolition of hotels businesses

NBA Condemns Gombe Government’s Demolition of Businesses

By Ifunanya / February 19, 2024

The Nigerian Bar Association (NBA) in Gombe State has criticized the actions of the Task Force on Gala Houses and […]

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Good Deeds Speak for Herbert Wigwe By Olusegun Philips

Remembering Herbert Wigwe: A Visionary Leader’s Enduring Legacy

By Ifunanya / February 19, 2024

The world mourns the tragic loss of Herbert Wigwe, former CEO of Access Corporation, alongside his wife, son, and friend, […]

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FBI director warns China’s computer attacks are now at a ‘scale greater than we’d seen before’ as vulnerable critical infrastructure remains at high-risk to be targeted

By IDBM Consult / February 18, 2024

February 18, 2024 China’s cyber attacks have grown to a ‘scale greater than we’d seen before’, the FBI director has advised amid […]

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Foreign exchange crisis: Atiku got it wrong again – Presidency

By IDBM Consult / February 18, 2024

February 18, 2024 The presidency on Sunday, February 18, faulted former vice president Atiku Abubakar’s criticism of President Bola Tinubu’s […]

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Tinubu approves upgrade of hospitals other health infrastructure in Nigeria

Nigeria Offers to Host Africa Central Bank, President Tinubu Announces at AU Summit

By Ifunanya / February 18, 2024

During the 37th Ordinary Session of the African Union in Addis Ababa, President Bola Tinubu pledged Nigeria’s readiness to host […]

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Intervene in Rivers crisis APC chieftain urges Tinubu

Controversy Surrounds N24bn Foreign Exchange Subsidy Approval for Muslim Pilgrimage Amid Nigerian Hardships

By Ifunanya / February 18, 2024

A storm of confusion has erupted as allegations surface of President Bola Ahmed Tinubu’s approval of N24.143 billion as a […]

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NBS names three countries with highest capital investment in Nigeria

Nigeria Attracts Strong Capital Investments from UK, Mauritius, and Netherlands

By Ifunanya / February 18, 2024

The National Bureau of Statistics revealed that Nigeria welcomed substantial capital investments from the United Kingdom, Mauritius, and the Netherlands […]

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Nigeria should be number one palm oil producer – Okitipupa

Nigeria’s Ambition to Lead Global Palm Oil Production

By Ifunanya / February 18, 2024

As the clamor for establishing commodities boards intensifies to manage soaring food prices in Nigeria, the Managing Director of Okitipupa […]

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Naomi Campbell teases a glimpse of her cleavage-enhancing bustier beneath a chic suit as she promotes new BOSS collection at Selfridges

By IDBM Consult / February 17, 2024

February 17, 2024 Naomi Campell oozed sophistication as she attended a Naomi x BOSS pop-up event at Selfridges in London […]

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CIBN seeks Senate passage of Act Bill

CIBN Advocates for Senate Approval of Proposed Act Bill

By Ifunanya / February 17, 2024

The Chartered Institute of Bankers of Nigeria (CIBN) has urged the Senate to pass its proposed Act Bill, as President […]

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Lagos govt paid N1381bn pensions in seven years

Lagos State Government Disburses N138.1 Billion in Pensions Over Seven Years

By Ifunanya / February 17, 2024

The Lagos State Government has revealed that it has paid out a total of N138.1 billion in accrued pension rights […]

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CBN reviews timeline for issuance of credit letters amid forex

Central Bank of Nigeria Lowers Import Duty Exchange Rate by 2.8% in 2024

By Ifunanya / February 17, 2024

The Central Bank of Nigeria (CBN) has announced a 2.8% reduction in the exchange rate for computing customs duties following […]

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Naira records first gain in 2024 against US dollar at

Naira’s Depreciation Against US Dollar Continues Amid CBN’s Interventions

By Ifunanya / February 17, 2024

The Naira experienced a significant depreciation against the US dollar at the end of last week, with the foreign exchange […]

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