African Business News

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

Nigeria’s revenue from VAT, Company Income Tax up 33 per cent to 4.92trn

By Ifunanya / March 9, 2023

The federal government’s revenue from Value Added Tax, VAT, and Company Income Tax, CIT, increased by 33 per cent annually […]

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How to plan ahead for annual holiday

By Ifunanya / March 9, 2023

All work and no play makes Jack a dull boy’, sums up the purpose of annual leave employers often grant […]

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NPA boosts TinCan ports security

By Ifunanya / March 9, 2023

The Nigerian Ports Authority has strengthened security at TinCan Island ports with the erection of a concrete fence and the […]

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26494 stock market rebounds as investors gain n107bn

Stock market rebounds as investors gain N107bn

By Ifunanya / March 9, 2023

The Nigerian Exchange Limited on Wednesday rebounded as investors gained N107bn. The market had recorded about N1bn loss on Tuesday. […]

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Cash crunch: CBN gives operational guidelines on open banking

By Ifunanya / March 8, 2023

The Central Bank of Nigeria, CBN, on Wednesday issued operational guidelines for open banking in Nigeria amid the new Naira […]

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Investment firm gets ‘BBB’ rating

By Ifunanya / March 8, 2023

A technology-driven credit rating agency, Datapro in its latest report issued LandWey Investments Limited a long-term rating of “BBB” with […]

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MTN Nigeria raises N125bn via commercial papers

By Ifunanya / March 8, 2023

MTN Nigeria has raised N125bn through issuance of commercial papers to boost its short-term working capital and funding requirements. In […]

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Naira redesign: Old, new notes are legal tender – CBN reveals

By Ifunanya / March 7, 2023

The Central Bank of Nigeria said that both old and new notes are now legal tender. The Acting Director of […]

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Collecting old naira notes from banks risky – Banker warns

By Ifunanya / March 7, 2023

Indications have emerged that customers who are accepting old N1000 and N500 notes from their banks are doing so on […]

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25899 abuja grain traders reject e payment demand cash

Abuja grain traders reject e-payment, demand cash

By Ifunanya / March 7, 2023

Grain Traders. Credits: Miller Mag Grain traders in suburban markets in the Federal Capital Territory are rejecting electronic transactions from […]

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CBN disburses N114bn under 100-for-100 policy

By Ifunanya / March 7, 2023

The Central Bank of Nigeria, CBN, said it had released N114.17 billion to beneficiaries under its 100-for-100 Policy on Production […]

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CBN faults IMF’s abysmal rating of Anchor Borrowers’ Programme

By Ifunanya / March 7, 2023

The Central Bank of Nigeria, CBN, has said N503 billion, representing 52.39 per cent, has been repaid by farmers under […]

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FCMB congratulates Babban Gona for winning the Schwab Award

By Ifunanya / March 6, 2023

First City Monument Bank (FCMB) congratulates Babban Gona, a Nigeria-based high-impact social enterprise, for winning the Schwab Award for Social […]

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Naira redesign: Buhari’s order to CBN will do magic – Etiaba

By Ifunanya / March 6, 2023

Three days after the Supreme Court verdict on the old Naira notes’ validity, a Senior Advocate of Nigeria, Emeka Etiaba, […]

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Flutterwave denies losing N2.9bn to hackers

By Ifunanya / March 6, 2023

African fintech unicorn Flutterwave has denied losing the sum of  ₦2,949,557,867 to hackers. It was earlier reported on Sunday that […]

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How BVAS, IReV failed first election’s stress test

By Ifunanya / March 6, 2023

Following the conclusion of the presidential and National Assembly elections, questions have been raised about the performance of the Bimodal […]

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FG opens up on nationwide fuel scarcity, warns against panic-buying

By Ifunanya / March 5, 2023

The federal government has disclosed why there is slight fuel scarcity nationwide. It stated that the just concluded presidential and […]

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NSIA set to open Application Portal for Maiden Edition of NSIA Innovation Prize

By Ifunanya / March 5, 2023

Following the recent launch of its US$255,000 innovation prize to be awarded as a combination of cash and equity investment […]

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Naira scarcity may affect private business in Q1 – Report

By Ifunanya / March 5, 2023

The February Purchasing Managers’ Index data released by Stanbic IBTC Bank indicated that the shortage of cash across the country […]

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IMF warns CBN, others over rising inflation

By Ifunanya / March 5, 2023

The International Monetary Fund has urged the Central Bank of Nigeria and other monetary authorities to deemphasise monetary policy as […]

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