African Business News

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

FCMB Group Plc's 12th AGM affirms dividend, closes FY 2024 with ₦7.1 trillion in total assets

FCMB Group Plc’s 12th AGM affirms dividend, closes FY 2024 with ₦7.1 trillion in total assets

By Ifunanya / April 30, 2025

FCMB Group Plc convened its 12th Annual General Meeting (AGM) in Lagos on April 29, 2025, where shareholders endorsed the […]

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European Reconstruction Bank sites first West African office In Lagos

European Reconstruction Bank sites first West African office In Lagos

By Ifunanya / April 29, 2025

The Nigerian government has reiterated its firm commitment to a strategic partnership with the European Union, as the European Bank […]

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Fidelity Bank's FY 2024 performance praised by shareholders

Fidelity Bank’s FY 2024 performance praised by shareholders

By Ifunanya / April 29, 2025

Shareholders of tier one lender, Fidelity Bank, have applauded the board and management of the bank for delivering an outstanding […]

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China defiant as Trump escalates trade war

Trump fumes at Jeff Bezos over Amazon’s tariffs move

By Ifunanya / April 29, 2025

President Donald Trump has been left fuming at Amazon owner Jeff Bezos after the retailer revealed plans to include the […]

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Turkey, Italy to strengthen defence cooperation, boost trade

Turkey, Italy to strengthen defence cooperation, boost trade

By Ifunanya / April 29, 2025

The leaders of Italy and Turkey have announced plans to enhance cooperation in the defence industry through new projects, while […]

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CAC disowns Kogi Central group sponsoring Natasha's recall

CAC gives businesses in Nigeria 6-week ultimatum to register or face prosecution

By Ifunanya / April 29, 2025

The Corporate Affairs Commission, CAC, a Nigerian government agency, has issued a six-week notice to unregistered businesses in the country […]

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DMO releases results of April 2025 FGN Bond auction

DMO releases results of April 2025 FGN Bond auction

By Ifunanya / April 29, 2025

The Debt Management Office (DMO) has released the results of the April 2025 Federal Government of Nigeria (FGN) Bond Auction. […]

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FIRS orders immediate closure of unauthorised tax collection accounts

FIRS orders immediate closure of unauthorised tax collection accounts

By Ifunanya / April 29, 2025

The Federal Inland Revenue Service (FIRS) has issued a directive to all banks in Nigeria to immediately identify and shut […]

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Petrol price drop pushing cooking gas costs downwards - IPMAN

Petrol price drop pushing cooking gas costs downwards – IPMAN

By Ifunanya / April 29, 2025

The Independent Petroleum Marketers Association of Nigeria has explained how the reduction in the price of Premium Motor Spirit pushed […]

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Nigeria's non-oil exports climbed by 24.7% to $1.79 billion in Q1 - NEPC

Nigeria’s non-oil exports climbed by 24.7% to $1.79 billion in Q1 – NEPC

By Ifunanya / April 29, 2025

The Nigerian Export Promotion Council, NEPC, has said Africa’s most populous country’s non-oil exports increased by 24.75 percent to $1.791 […]

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Nigeria's naira continues to appreciate against dollar in black market

Nigeria’s naira continues to appreciate against dollar in black market

By Ifunanya / April 29, 2025

Nigeria’s currency, the naira, continued its appreciation against the dollar at the parallel foreign exchange market on Monday. Exchange rate […]

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CBN announces fresh date for first MPC meeting in 2025

AfCFTA: CBN reviews requirements for PAPSS transactions in Nigeria

By Ifunanya / April 28, 2025

The Central Bank of Nigeria, CBN, has announced a significant revision of the documentation requirements for transactions conducted through the […]

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Price of 50kg bag of rice drops — Report

Price of 50kg bag of rice drops — Report

By Ifunanya / April 28, 2025

The price of 50 kilogrammes of rice has reduced by 27 percent to N58,000 from N80,000 in some remote areas […]

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Paris Club Refund: Consultant slams contempt charges against CBN gov

CBN focusing on bringing down inflation — Cardoso

By Ifunanya / April 28, 2025

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has reiterated that the focus of the apex bank is […]

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Fitch upgrades four Nigerian states' investment rating

Fitch upgrades four Nigerian states’ investment rating

By Ifunanya / April 28, 2025

Fitch Ratings has upgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings of Kaduna, Kogi, Lagos, and Oyo states from […]

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NDIC to pay first tranche of liquidation dividends to Heritage Bank depositors in April

HERITAGE Bank: NDIC begins payment of ₦46.6bn liquidation dividends to depositors above insured limit

By Ifunanya / April 27, 2025

The Nigeria Deposit Insurance Corporation, NDIC, has commenced payment of ₦46.6 billion as the first tranche of liquidation dividends to […]

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Insecurity: Alia calls for calm in Benue community

Benue Govt targets N3bn monthly IGR to cover salaries, pensions

By Ifunanya / April 27, 2025

The Benue State Government has unveiled plans to increase its internally generated revenue (IGR) to N3 billion per month by […]

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CBN announces fresh date for first MPC meeting in 2025

CBN raises over N1tn in fresh OMO auction

By Ifunanya / April 27, 2025

The Central Bank of Nigeria (CBN) raised a total of N1.008 trillion at its Open Market Operations (OMO) auction held […]

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Tinubu's reforms not easy, delivering results - Cardoso

Tinubu’s reforms not easy, delivering results – Cardoso

By Ifunanya / April 27, 2025

The governor of the Central Bank of Nigeria has said the reforms implemented by President Bola Ahmed Tinubu’s government in […]

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Dangote Cement, other stocks lose N202bn as NGX records first dip in three days

Dangote Cement, other stocks lose N202bn as NGX records first dip in three days

By Ifunanya / April 26, 2025

Dangote Cement and other stocks pushed the Nigeria Exchange Limited to N202 billion in losses after three days of gains. […]

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