African Business News

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

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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NSIA opens application portal for $255,000 maiden innovation prize

By Ifunanya / March 4, 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 loses further at official market amid currency scarcity

By Ifunanya / March 4, 2023

On Friday, Naira fell marginally against the US dollar at the Investors’ and Exporters’ window. The development further extended Naira […]

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Naira redesign: CPPE lauds Supreme Court ruling on old currency notes validity

By Ifunanya / March 4, 2023

The Centre for the Promotion of Private Enterprise, CPPE, has commended the ruling of the Supreme Court on the use […]

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Labour threatens to shut seaports over salary review

By Ifunanya / March 4, 2023

The Nigeria Labour Congress has threatened to shut down the country’s seaports over the government’s refusal to address some of […]

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