Local Nigerian businesses may confront foreign cash shortages that could endanger bank liquidity and undermine bank capital, according to a note published on Thursday by
Category: Africa
US Congress members accuse Nigeria of violating international laws and demand that the $1b arms sale be scrapped.
Following Reuters reporting on an illegal abortion program and the targeted killing of children by the Nigerian military, two members of the US House of
Nigeria’s new Naira creates a cash shortage and shuts down critical sectors of the economy.
According to experts and business associations, Nigeria’s efforts to replace its paper money with newly produced currency notes have resulted in a cash scarcity that
Nigeria’s public finances will continue to deteriorate. – Moody’s
After Moody’s downgraded Nigeria late on Friday from B3 to Caa1, warning that the government’s fiscal and debt position was expected to worsen, Nigeria’s government
Food crisis in Africa: Development partners pledge $30b over 5 years.
In his concluding remarks at a summit on food security on Friday, Akinwumi Adesina, President of the African Development Bank, announced that development partners have
Lekki Deep Seaport: Nigeria stakes its economic future on a port 75% owned by China.
President Muhammadu Buhari of Nigeria has celebrated the completion of a $1.5 billion deep seaport built by China in the commercial center of Lagos, which
Nigeria: Local and International flights were disrupted by the strike.
The ground personnel started an indefinite strike on Monday in order to seek increased wages, according to airlines in Nigeria. The largest airline in
NNPC’s expenditure of $10b on fuel subsidies in 2022, ruined public finances. – Govt
According to the most recent data from the state-owned company, which was reported on Friday, the Nigeria National Petroleum Company, or NNPC, spent $4.39 trillion
Madagascar solar company secures $21m to connect 50,000 homes.
Off-grid solar firm WeLight from Madagascar has received 19 million euros ($20.57 million) to power 50,000 homes over the next two years, the company announced
MTN Ghana may declare bankruptcy with $773m in overdue taxes.
A demand for back taxes of almost $773 million, including penalties and interest costs, has been sent to the Ghanaian subsidiary of South African mobile
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