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South Africa’s rand firmed against the dollar early on Wednesday after President Cyril Ramaphosa announced a 500 billion rand ($26.41 billion) rescue package on Tuesday evening to cushion the economic blow of the COVID-19 pandemic.

Rand firms as South Africa announces coronavirus rescue package

South Africa’s rand firmed against the dollar early on Wednesday after President Cyril Ramaphosa announced a 500 billion rand ($26.41 billion) rescue package on Tuesday evening to cushion the economic blow of the COVID-19 pandemic.
Chief of Staff to the President, Mallam Abba Kyari, laid to rest at Gudu Cemetery Abuja on 18 April 2020 4

I am saddened by Abba Kyari’s death – AfDB chief

The President of African Development Bank (AfDB), Dr Akinwumi Adesina, says he is saddened by the death of Malam Abba Kyari, Chief of Staff to President Muhammadu Buhari.
Former Credit Suisse head Tidjane Thiam is one of a number of senior financiers appointed as envoys by the African Union to negotiate for funding to help the continent overcome the economic impact of the coronavirus outbreak. Reuters.

African Union appoints ex-Credit Suisse boss as envoy for virus support

The African Union (AU) has appointed former Credit Suisse boss Tidjane Thiam and several other dignitaries as a special envoys to solicit international support to help the continent deal with the economic impact of the coronavirus.

African Union appoints special envoys to mobilise international economic support for continental fight against...

The Chairperson of the African Union, President of the Republic of South Africa His Excellency Cyril Ramaphosa has appointed Dr Ngozi Okonjo-Iweala, Dr Donald Kaberuka, Mr Tidjane Thiam and Mr Trevor Manuel as Special Envoys of the African Union to mobilise international support for Africa’s efforts to address the economic challenges African countries will face as a result of the COVID-19 pandemic.
South African president Cyril Ramaphosa has declared a national state of disaster as he announced a range of extraordinary measures to contain the coronavirus outbreak that has infected 61 people so far.

South Africa’s Cyril Ramaphosa appoints Ngozi Okonjo-Iweala, Trevor Manuel as special envoys

The Chairperson of the African Union, AU, President of South Africa, Cyril Ramaphosa, has appointed ex-Nigerian Finance Minister, Dr. Ngozi Okonjo-Iweala, Dr. Donald Kaberuka, Mr. Tidjane Thiam and Mr. Trevor Manuel as Special Envoys of AU.

AfDB unveils $10 billion response facility to curb coronavirus

The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic.
The African Development Bank Group, AfDB, has appointed Nourredine Lafhel as acting Chief Risk Officer, effective 6th April 2020.

AfDB appoints Nourredine Lafhel as acting chief risk officer

The African Development Bank Group, AfDB, has appointed Nourredine Lafhel as acting Chief Risk Officer, effective 6th April 2020.
AFDB President Akinwumi Adesina.

AfDB chief Akinwumi Adesina accused of multiple violations

The head of the African Development Bank, Akinwumi Adesina, has been accused by bank staff of multiple abuses and breaches of the bank's code of ethics, charges he flatly denied.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday met with the leadership of the National Assembly to intimate it with an Executive proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

Minister: Nigeria seeks $3.5 billion loan from IMF, AfDB

Nigeria’s finance minister Zainab Ahmed said the country has applied to the International Monetary Fund (IMF) and African Development Bank (AfDB) to access $3.5 billion in concessional funding to support the 2020 Budget.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday met with the leadership of the National Assembly to intimate it with an Executive proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

Nigeria provides N102 billion intervention in healthcare sector – minister

The Federal Government has provided N102.5 billion in resources for direct interventions in the country’s healthcare sector, Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning, has said.
The Minister of Power, Mr Saleh Mamman, has assured Nigerians that effective metering will tackle the challenges of liquidity and energy theft in the power sector.

Minister: Why we suspended electricity tariff hike

The Minister of Power, Engr. Saleh Mamman, has explained that the suspension of take-off of the new electricity tariff hike till next three months was in line with President Muhammadu Buhari’s announcement of March 29 granting a moratorium for certain Federal Government’s funded facilities to the Nigerian public.

Akinwumi Adesina hails Victor Oladokun as he retires as AfDB’s communications chief

President of African Development Bank (AfDB), Dr Akinwumi Adesina, has commended the outgoing Director of Communication and External Relations Department of the bank, Dr. Victor Oladokun, for his exceptional leadership.

200,000 farmers benefit from $2.2 million fertilizer project

The Africa Fertilizer Financing Mechanism (AFFM) has kick-started a $2.2 million project to provide fertilizer suppliers in Nigeria with financial support to improve supply for 200,000 smallholder farmers.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AfDB signs first private sector loan in Sudan

The African Development Bank has signed an agreement with DAL Group, one of Sudan’s largest conglomerates, for the provision of up to $75 million to improve food security and household incomes in the country. The agreement is the Bank’s first private sector loan to the East African nation.
The Vice-Chancellor, University of Calabar, Prof. Zanna Akpagu, says the university will confer an honorary doctorate degree on the Liberian Vice President, Dr Jewel-Howard Taylor, during its convocation on Saturday.

University of Calabar to honour Liberian Vice President

The Vice-Chancellor, University of Calabar, Prof. Zanna Akpagu, says the university will confer an honorary doctorate degree on the Liberian Vice President, Dr Jewel-Haward Taylor, during its convocation on Saturday.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AFDB to invest $200 million on mini-grids roll out

The African Development Bank (AfDB) has disclosed plans to invest $200 million on roll-out of mini-grids to boost power supply in Nigeria.
The state Commissioner for Information and Communication, Mr Kingsley Fanwo, confirmed this to newsmen in Lokoja on Thursday.

National Assembly approves Kogi’s $100 million loan request

The Kogi State government says it has received the approval of the National Assembly to obtain a foreign loan of $100 million (N36 billion).

Abia governor seeks partnership with AfDB to transform state into industrial hub

Abia State Governor, Okezie Ikpeazu, Wednesday, told the African Development Bank that a thriving entrepreneurship industry and agricultural base in the State are the foundation for the creation of a potentially viable industrial hub.

Recent Stories

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE market indicators resume week with 0.01% growth

The market indicators of the Nigerian Stock Exchange (NSE) resumed transactions for the week on Monday with a marginal growth of 0.01 per cent, amid cautious trading.
EDITORS NOTE: Graphic content / The container ship MSC Samantha of the Meriterranean Shipping Company is docked at the Apapa Port Complex in Lagos, Nigeria's economy hub, on April 8, 2019. - The Nigerian port is congested with hundreds of ships, idly queueing for days to offload containers with goods. Lagos port congestion is affecting port operations and creating a severe backlog at ports, causing carriers’ containers to be held in port for extra days, as well as creating several miles of truck traffic at roads that links to port gates. (Photo by PIUS UTOMI EKPEI / AFP)

NPA: 20 ships discharging petrol other items at Lagos port

The Nigerian Ports Authority (NPA) on Monday said that 20 ships at the Lagos ports were discharging petroleum products and food stuff.
The Petroleum Products Pricing Regulatory Agency (PPPRA) is set to commence a comprehensive audit and survey of downstream oil and gas logistic facilities, with a view to identifying the infrastructure gap in the sector

PPPRA: Previous administrations spent N8.9 trillion on subsidy in 10 years

The Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, disclosed that N8.9 trillion was spent on fuel subsidy by the Federal Government, mainly by previous administrations, between 2006 and 2015.
Chairman of the Presidential Taskforce on Covid-19 and Secretary to the Government of the Federation, Mr Boss Mustapha, who stated this yesterday during the daily briefing of the Taskforce, added that the federal government would also put in place measures to control the movement of nomadic herdsmen who go across the border in search of greener pastures for their cattle.

PTF warns against neglect of virus protocols

The Presidential Task Force (PTF) on COVID-19 has warned against perceived neglect of the non-pharmaceutical protocols and other measures aimed at tackling the spread of the coronavirus (COVID-19) pandemic in the country.
Governor Yahaya Bello of Kogi has expressed his administration’s commitment to the development of the education sector as the key to high-level human capital development needed for emancipation of the people.

Kogi governor sacks revenue board

The board of Kogi State Internal Revenue Service (KGIRS) has been sacked with immediate effect.