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Iran's rial has sharply depreciated as a result of U.S. President Donald Trump's decision in 2018 to pull out of a landmark nuclear deal between Tehran and world powers and reimpose sanctions.

Iran moves to cut four zeroes from struggling currency

Iranian President Hassan Rohani has sent a bill to parliament that would cut four zeroes from the value of the country's battered currency, the rial.
[FILE] US President Donald Trump chairs a Cabinet meeting at the White House in Washington, DC, on January 2, 2019. – President Donald Trump warned Wednesday the US federal government may not reopen any time soon, as he stood firm on his demand for billions of dollars in funding for a border wall with Mexico.Addressing a cabinet meeting on the 12th day of the shutdown, Trump warned it “could be a long time” before the impasse is resolved.”It’s too important a subject to walk away from,” said the president, who was to meet later with Democratic and Republican lawmakers. (Photo by NICHOLAS KAMM / AFP)

Donald Trump orders freeze on all Venezuelan government assets

President Donald Trump on Monday ordered a freeze on all Venezuelan government assets in the United States and barred transactions with its authorities, in Washington’s latest move against President Nicolas Maduro.

Nigeria considers new 5% tax for online purchases

The Federal Inland Revenue Service (FIRS) may, from next year, ask banks to charge customers five per cent Value Added Tax for online purchases when using bank cards, its Chairman, Tunde Fowler, has said.
Zimbabwe banks ordered to ring-fence foreign currency accounts

Zimbabwe holds first public T-bill auction in seven years

The Reserve Bank of Zimbabwe said in Harare that it had invited bids for 91-day treasury bills worth 30 million Zimbabwe dollars, which would be allotted to successful bidders on Thursday.

IMF executive board begins selection process for next managing director

The Executive Board of the International Monetary Fund (IMF) has adopted an open, merit-based, and transparent process for the selection of the next managing director, the organisation has said.

MTN appoints ex-minister, ex-revenue chief, ex-NBA president as board members

Telecommunications firm, MTN, has notified the Nigeria Stock Exchange of a substantial change in its board structure. Pioneer board chair, Pascal Dozie, is stepping down along with five other directors.

France to lead EU talks on new IMF chief

French Economy Minister, Bruno Le-Maire, will lead informal talks to produce a European candidate to head the International Monetary Fund (IMF), a European official at G7 talks near Paris said on Thursday.
Anti-Brexit activists hold placards and wave Union and EU flags as they demonstrate near the Houses of Parliament in central London on January 28, 2019. – Despite the humiliating rejection of Prime Minister Theresa May’s Brexit deal, Britain is no closer to knowing the end result of its vote to leave the European Union. A raft of amendments to be voted on by MPs on Tuesday threaten to further muddy the waters as the clock ticks down to Britain’s scheduled departure from the EU on March 29. (Photo by Tolga AKMEN / AFP)

Britain may be entering full-blown recession – watchdog

The Office for Budget Responsibility (OBR) said the world’s fifth-biggest economy appeared to have flat-lined or possibly contracted in the second quarter, some of which was probably “pay-back” after Brexit-related stock building in early 2019.

Former ECOWAS president passes on at 65

Alain Marcel de Souza, the former president of the ECOWAS Commission, died on Tuesday in Paris after suffering a heart attack, Beninese television reported on Wednesday.

Christine Lagarde resigns as IMF chief

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, announced in a statement on Tuesday that she had submitted her resignation from the IMF and it will go into effect in September.

Zambia dollar bonds soar after president sacks finance minister

Zambia’s dollar-denominated government bonds jumped on Monday after the country’s president sacked Finance Minister Margaret Mwanakatwe and appointed central bank deputy governor Bwalya Ng’andu to replace her.

Ghana named AfCFTA headquarters as AU targets $3.4 trillion economic bloc

African leaders last weekend named Ghana as the host of the future headquarters of the continental free trade zone which is expected to unite 1.3 billion people, and create a $3.4 trillion economic bloc that would usher in a new era of development.

Official: EU working to replace Christine Lagarde at IMF

The EU wants to have an agreed European candidate to replace Christine Lagarde at the helm of the International Monetary Fund (IMF), a senior EU official on Monday said.
President Buhari signs New National Minimum Wage Bill into Law in State House on 18th April 2019 2

AfCFTA: Free trade must be fair – President Buhari

With the signing of the African Continental Free Trade Area (AfCFTA) agreement by President Muhammadu Buhari at the opening of the African Union (AU) Summit yesterday in Miami, Niger, Nigeria has joined the AfCFTA.
Tibor Nagy

US warns Africa countries not to expect debt relief

The U.S. top Africa diplomat, Tibor Nagy, warned in Pretoria, South Africa on Monday that African countries running up debt they cannot pay back, including China, should not expect to be bailed out by western-sponsored debt relief.
Zimbabwe Dollar

Zimbabwe’s currency hits new low, firms demanding payment in US dollars

Zimbabwe’s interim currency fell to a new low on the black market on Thursday and local firms were demanding payment in U.S. dollars as a hedge against inflation, which is running at its highest in a decade.

IMF: Social investment key to stronger global economy

Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has said that investment in social insurance was a key to achieving a stronger global economy, saying societies across the world must begin by strengthening social programmes.

Central bank quashes talk of change to exchange rate policy

Nigeria’s central bank said it made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates.

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Nigerian Stock Exchange NSE

NSE: Investors react positively to ministers’ inauguration, assignment

Investors on the Nigerian Stock Exchange (NSE) on Wednesday reacted positively to the inauguration and assignment of ministers to various portfolios by President Muhammadu Buhari.
Presidential media aide, Malam Garba Shehu, says the Buhari administration is working with state governments across the Northwest to pursue an urgent revamp of the national security apparatus in the subregion.

President Buhari warns cabinet members against unnecessary altercation

President Muhammadu Buhari on Wednesday in Abuja, cautioned new cabinet Ministers against unnecessary altercation while discharging their responsibilities.
Senator Shehu Sani (APC-Kaduna)

Kaduna election: Tribunal dismisses Shehu Sani’s petition for lack of merit

The National Assembly Election Petitions Tribunal in Kaduna has dismissed the petition challenging the election of Senator Uba Sani as the lawmaker representing Kaduna Central Senatorial District at the National Assembly.
President Muhammadu Buhari on Monday appointed his wife, Aisha, and the wife of the Vice-President, Mrs Dolapo Osinbajo, to serve on the Presidential Advisory Committee on the Elimination of Drug Abuse in the country.

President Buhari approves appointment of aides for First Lady

President Muhammadu Buhari has approved the appointment of aides for the Office of the First Lady, occupied by Hajia Aisha Buhari.
Rwanda's President Paul Kagame and Uganda's Yoweri Museveni were once close allies but their relations have turned deeply hostile in a dispute that damaged trade between the neighbours.

Ugandan, Rwandan leaders sign pact to end months-long standoff

The presidents of Rwanda and Uganda on Wednesday signed an agreement in Angola to end months of tensions after the two leaders exchanged accusations of spying, political assassinations and meddling.