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TROUBLE FOR NIGERIA OVER RISING DEBT, SAYS BUDGET OFFICE

Nigeria, according to the Budget Office of the Federation, now has "limited borrowing space" because of its subpar debt-to-revenue ratio. The Budget Office says...

BILATERAL RELATIONS: NIGERIA PLANS DIRECT FLIGHT TO PAKISTAN

The Federal Government of Nigeria has revealed that plans to begin a direct flight from Nigeria to Pakistan has commenced, stressing that such move...

CBN SETS 15M NAIRA LICENSING FEES FOR FOREIGN BANKS OPERATING IN NIGERIA

The Central Bank of Nigeria (CBN) has issued revised guidelines titled ‘Guidelines for the Regulation of Representative Offices of Foreign Banks in Nigeria.’ According to...

RWANDA BANK LOSES $10.3 MILLION TO FRAUDULENT CLIENT WITHDRAWALS

The I&M Bank Rwanda affiliate lost $10.3 million due to fraudulent client withdrawals in less than three months. This loss prompted investigations to recover...

KENYANS PREPARE FOR MORE TAXES AS THE GOVERNMENT TARGETS WIGS, CELLPHONES, AND DIGITAL ASSETS

Kenyans are prepared for a financial blow as the government proposes new taxes in the 2023 Finance Bill. While the planned taxes are meant...

CBN TO INTRODUCE CONTACTLESS PAYMENT; PHONES, WATCHES TO BE USED LIKE POS, ATM

The Central Bank of Nigeria (CBN) has begun plans to release guidelines that will make contactless payment stress free and safe for all. This...

IMF CALLS IN SUPPORT OF UNIFIED ACTION ON AFRICAN DEBT

African nations are reportedly facing their worst financial problems in 20 years, according to the International Monetary Fund (IMF), which is calling for effective...

OFFICIAL MARKET IN NIGERIA IMPROVES TO N462/$1

The exchange rate between the Naira and the US dollar at the Investors and Exporters (I&E) window depreciated to N462.33/$1 on May 2, 2023....

AFRICA TO SET-UP ITS OWN OIL BANK TO ELIMINATE DEPENDENCE ON FOREIGN FINANCIERS

Finishing touches have been put in place by the African Petroleum Producers Organization (APPO) to set up the Africa Energy Bank. The aim of...
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