African Business News

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

Nigerian govt announces commencement of ban on sackets alcoholic drinks

Nigeria To Prohibit Sale of Small-Sized Sachet Alcoholic Drinks

By Ifunanya / February 5, 2024

Nigeria’s government has declared its intention to implement a ban on the sale of alcoholic beverages in sachets smaller than […]

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Illegal loan apps use PSSPs to executive transactions FCCPC

Federal Agency Cracks Down on Violating Digital Money Lenders in Nigeria

By Ifunanya / February 5, 2024

The Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria is taking action against Digital Money Lenders (DMLs) who are […]

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swimsuit

Bikini Company Receives Backlash for Using Male Model to Showcase Women’s Swimsuit

By IDBM Consult / February 5, 2024

Feb 5th, 2024 … I’m sorry you support whatever you like but I don’t agree with men in women’s swimsuits […]

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Nigerias outstanding forex backlog drops to 22bn from 45bn

Nigeria’s Forex Backlog Decreases to $2.2 Billion, Central Bank Reports

By Ifunanya / February 5, 2024

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has announced that the country’s outstanding foreign exchange (forex) backlog […]

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23bn of 7bn forex backlog not valid CBN governor

Nigeria’s CBN Governor Reveals $2.3bn of $7bn Forex Backlog Invalid

By Ifunanya / February 5, 2024

Olayemi Cardoso, the Governor of the Central Bank of Nigeria, has revealed that $2.3 billion of the $7 billion foreign […]

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budget

2023 National budget foreclosed economic growth and jobs – Presidency 

By IDBM Consult / February 5, 2024

Feb 5, 2024 – with nairamatric report Mr. Bayo Onanuga, the Special Adviser to the President on Information and Strategy, […]

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Naira Sees Surge in Dollar Supply: CBN Intervention Impact

By Ifunanya / February 5, 2024

Last Friday, the official foreign exchange market witnessed a significant surge in US dollar supply, soaring by 180.59% to reach […]

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CBN reviews timeline for issuance of credit letters amid forex

Central Bank of Nigeria Introduces 50% Cash Reserve Requirement for Banks

By Ifunanya / February 5, 2024

The Central Bank of Nigeria (CBN) has implemented a new policy imposing a 50% Cash Reserve Requirement (CRR) levy on […]

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Adewole resigns as MD of LivingTrust Mortgage Bank

Adewole Steps Down as Managing Director of LivingTrust Mortgage Bank

By Ifunanya / February 5, 2024

Adekunle Adewole has tendered his resignation as the Managing Director of LivingTrust Mortgage Bank, according to a corporate notice filed […]

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kenye ai

Rural Kenyans power West’s AI revolution. Now they want more

By IDBM Consult / February 4, 2024

Labelling data for international AI companies has become a widespread hustle for young people in Kenya. Now, they dream of […]

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Insecurity Nigerian govt to convert Police vehicles to clean energy

Nigeria Plans to Convert Police Vehicles to Clean Energy for National Security

By Ifunanya / February 4, 2024

The Nigerian government has announced its intention to convert police vehicles to cleaner energy across the country as part of […]

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1707026611 Norway seeks stronger ties with Nigeria on energy

Norway and Nigeria Forge Energy Partnership for Mutual Gain

By Ifunanya / February 4, 2024

Norway’s Ambassador to Nigeria, Svein Baera, advocates for a stronger partnership between Nigeria and Norway to bolster energy production. The […]

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Nigerian government plans to kickstart Ajaokuta Steel plant with N30bn

Nigeria Sets Sights on Ajaokuta Steel Plant Revitalization with N30 Billion Investment

By Ifunanya / February 4, 2024

The Nigerian government has unveiled plans to jumpstart the commencement of the Light Steel Mill segment of the Ajaokuta Steel […]

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gurasa

Women bread (gurasa) makers protest high cost of flour in Kano

By IDBM Consult / February 3, 2024

February 2, 2024 The women producers of a local bread brand, known as gurasa, took to the streets of Kano […]

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CBN lifts ban on cryptocurrency transactions

Central Bank of Nigeria Refutes Alleged Plan to Convert $30 Billion Domiciliary Deposits to Naira

By Ifunanya / February 3, 2024

The Central Bank of Nigeria (CBN) has refuted claims circulating in the media about its intention to convert $30 billion […]

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Naira fall 425 import duty hike will impoverish more Nigerians

Naira Devaluation Sparks Concern as Import Duty Hike Threatens Nigerian Economy

By Ifunanya / February 3, 2024

The Centre for the Promotion of Private Enterprise (CPPE) has condemned the recent 42.5% increase in import duty exchange rate […]

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Illegal loan apps use PSSPs to executive transactions FCCPC

FCCPC Vows to Regulate Digital Money Lenders, Collaborates with Government Agencies for Consumer Protection

By Ifunanya / February 3, 2024

The Federal Competition and Consumer Protection Commission (FCCPC) is resolute in its commitment to regulating digital money lenders in Nigeria, […]

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Naira free fall Finance Minister CBN governor EFCC chairman meet

Economic Stakeholders Unite to Tackle Naira Free Fall

By Ifunanya / February 3, 2024

In a significant move to address the declining value of the Naira, the Finance Minister and Coordinating Minister for the […]

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1706936549 ICAN appoints new registrarCEO

ICAN Announces Appointment of Dr. Musibau Olasunkanmi as New Registrar/CEO

By Ifunanya / February 3, 2024

The Institute of Chartered Accountants of Nigeria (ICAN) has named Dr. Musibau Olasunkanmi as its new Registrar/Chief Executive. This decision […]

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Naira Free Fall Nigerias crude oil sales should be in

Nigeria Urged to Invoice Crude Oil Sales in Foreign Currency to Curb Naira Free Fall

By Ifunanya / February 2, 2024

Amid the recent volatility of the Naira at the foreign exchange market, economist Paul Alaje has advised the Nigerian government […]

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