Nigerian President Muhammadu Buhari on Thursday directed the central bank to stop issuing foreign exchange for food and fertiliser imports, according to a statement by his spokesman.
Coronavirus-related bad debts have set South African banks’ profits back by around a decade or more and they are unlikely to recover for at least three years, two top executives told Reuters, as the economy struggles with recession.
Uganda’s central bank has introduced a new lending window for commercial banks that might encounter short-term liquidity challenges, it said on Tuesday, unveiling another tool to complement its main monetary policy instrument.
The banks: Eco, Zenith and Fidelity; are among six banks in Ghana that initiated services to allow the public pay for goods and services through the universal Ghana Quick Response (Gh QR) code. The Ghana banks are GCB Bank, Bank of Africa, and the Agriculture Development Bank.
According to the Principal Lead MasterCard Advisors for Sub-Saharan Africa, Bola Asiru, “POS transaction volume along with mobile transactions (Interscheme) value, reached four years high with N416 billion and N275 billion transactions in July respectively.
After taking a critical look at security challenges ravaging the country, a professional economist, Dr Felix Amieye-Ofori, has suggested that economic development will continue to elude Nigeria if the situation is not urgently addressed.
The Federal Inland Revenue Service (FIRS) says it has inaugurated a new Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for the use of financial institutions in the country.
The Central Bank of Nigeria has instructed banks to place a post-no-debit on the bank accounts of 38 companies.
Over 40 million Nigerian farmers under the auspices of All Farmers Association of Nigeria, AFAN, Saturday, hailed Dr Akinwunmi Adesina, over re-election and subsequent inauguration as African Development Bank’s President for a second tenure.
The Association of Bureau de Change Operators of Nigeria (ABCON) has declared that the new exchange rate for the operators to sell forex at N386 cannot sustain their operations.
The Director-General, Debt Management Office, Patience Oniha, on Wednesday, defended the nation’s debt profile, saying there is nothing wrong with borrowing.
The Federal Government has congratulated Dr Akinwumi Adesina, President of African Development Bank (AfDB) Group on his re-election as the eighth president of the bank for a second term.
Dr Akinwumi Adesina, President of African Development Bank (AfDB) Group, says he will build a much stronger and resilient bank to deliver greater quality impacts on African people.
The Central Bank of Nigeria (CBN) has ordered banks to henceforth pay 10% of it’s Monetary Policy Rate (MPR) as the minimum interest rate on savings deposit.
Business morgul and the Africa’s richest man Aliko Dangote has called on member states of the World Trade Organisation (WTO) to vote for former Finance Minister Dr Ngozi Okonjo Iweala fore the director-general of the organisation.
The nation’s external reserves, last week, rose (though slightly) for the first time in 12 weeks, to $35.66 billion.
The Lagos State government said it would investigate reports of shootings at the Lekki Toll plaza, which followed the 24-hour curfew imposed to stop criminals hiding under the #ENDSARS protests to unleash mayhem on innocent citizens.
Former United States presidential candidate, Hillary Clinton, has made a public appeal to Nigeria's President Muhammadu Buhari to end the killing of peaceful protesters.
Manchester United's victory against PSG in the Champions League has seen the club win 10 consecutive away games for the first time in their history.
Netflix seems to be on a cancelation streak as of late, and the science fiction space drama Away is the streaming service’s latest victim.
The Kano State Government, says it has begun the distribution of instructional materials worth over N1.5 billion to primary and junior secondary schools in the 44 Local Government Areas of the state.
The Senate on Tuesday at plenary passed for second reading the Petroleum Industry Bill (PIB).
Soldiers and policemen were in the early hours of Tuesday deployed in some communities near the Nnamdi Azikiwe International Airport, Abuja, apparently to forestall further breakdown of law and order as the protests against the scrapped Special Anti-Robbery Squad of the Nigeria Police Force continues.
No fewer than 800 youths on Tuesday blocked the entrance to the Imo State Government House for over two hours in the ongoing nationwide protest against police violation of human rights.
The leaders of the #EndSARS protesters along the Lagos-Ibadan Expressway have said they will lift the blockage along the expressway for vehicles to be able to move into Lagos by 2pm (today).
Manchester United boss Ole gunner Solskjaer says Odion Ighalo is still very much part of his plan and remains an important member of the squad.