Nigeria’s annual inflation jumped to 29.90% in January from 28.92% in December, the Bureau of Statistics announced on Thursday. According to the statistics agency, increases
Category: Africa
Green energy projects in Africa are hindered by IMF loan constraints.
Renewable energy investments in Africa are being hobbled by insufficient government loan guarantees, as the International Monetary Fund keeps a tight leash on country indebtedness,
California helicopter disaster claims the life of the CEO of a leading Nigerian bank and 5 others.
The CEO of one of the biggest banks in Nigeria, together with his wife and son, perished on Friday when the helicopter they were traveling
Nigeria’s central bank to punish entities involved in $2.4b fraudulent forex claims.
Olayemi Cardoso, the governor of Nigeria’s central bank, announced on Friday that organizations engaged in fraudulent foreign exchange transactions would face consequences. This came after
MultiChoice Nigeria agrees to back duty taxes of $37.3 million.
The largest pay TV firm in Africa, MultiChoice Group, announced on Thursday that its subsidiaries had settled with Nigerian tax authorities and agreed to pay
Nigeria’s Central Bank declines payment of the $2.4 billion FX backlog after a failed audit.
The governor of Nigeria’s central bank announced on Monday that errors totaling $2.4 billion had been found in a forensic examination of $7 billion in
Nigeria restricts bank FX holdings as the naira hits a record low of 1,531 to the dollar on the official market.
Following a decline in the value of the local currency relative to the US dollar, Nigeria’s central bank placed restrictions on the amount of foreign
The Nigerian naira fluctuated widely to hit a record low of N1,421 per US dollar on the official market. – FMDQ
As the currency fluctuated significantly to overshoot the unofficial parallel market rate, Nigeria’s naira fell to a new low against the dollar on Friday on
China to pay 1.2% royalties and spend $7b on infrastructure in exchange for ownership of Congo mines.
Chinese construction companies said on Saturday that they have reached a deal over their Sicomines copper and cobalt joint venture in the Democratic Republic of
The $1.3b Chinese-funded Zungeru power plant comes on stream with Nigerian managers.
Almost a year after securing the concession, Nigeria’s Mainstream Energy, which now manages two of the largest hydroelectric plants in the nation, has started to