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FX Turnover Drops By 25% in August as Naira Struggles
The Nigerian official foreign exchange (FX) market experienced a sharp decline in activity in August 2024. Data from FMDQ reveals that FX turnover...
FinanceNews
Air Travellers Condemn N2000 Vehicle Entry Fee at Lagos Airpor
Nigerians have lamented the N2000 fee imposed on vehicles picking up passengers at the Murtala Muhammed International Airport (MMIA) in Lagos. Vehicle owners...
FinanceNews
NDIC Plans to Dissolve 87 Banks Following a 30-day Notice
The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to dissolve 87 microfinance and primary mortgage banks across Nigeria. This comes after...
FinanceNews
Despite Persisting Inflation, Naira Volatility, Federal Agency Gives Traders One Month to Reduce Prices or Face Penalties
The Federal Competition and Consumer Protection Commission (FCCPC) has given traders and market stakeholders across Nigeria a one-month deadline to reduce the prices...
FinanceNews
Burkina Faso Government Nationalises Two Gold Mines To End Legal Dispute Between Competing Companies
Burkina Faso has taken control of two major gold mines after reaching an agreement with mining companies Endeavour Mining and Lilium Mining. The...
FinanceWorld
Liberia, Ghana Central Banks Clarify $20 Million Cash Transfer Saga, Dismiss Rumours Of Money Laundering
The Central Bank of Liberia (CBL) and the Bank of Ghana (BoG) have issued statements clarifying the legality of a recent $20 million...
FinanceNews
S’African Johann Rupert Overtakes Dangote To Become Africa’s Richest Man
South African billionaire Johann Rupert has overtaken Nigeria’s Aliko Dangote to become Africa’s richest person. This is according to the latest Bloomberg Billionaires...
FinanceNews
South Africa Probes $7 Billion Corruption in State-Owned Companies
The Special Investigative Unit (SIU) on Tuesday revealed that it is investigating over $7 billion in alleged corruption across major state-owned companies in...
FinanceWorld
Liberian Government Denies Defaulting On Payments After World Bank Suspends Funding
The Liberian government has denied defaulting on payments after the World Bank suspended the country’s access to funding. The World Bank told FrontPage...
FinanceNews
For Economic Recovery, Nigerian Govt. Must Stop Inconsistent Policies and Weaponising Insecurity- Okonjo-Iweala
Nigeria’s economic growth has been on a downward trend since 2014, according to the World Trade Organisation Director-General Ngozi Okonjo-Iweala. Speaking at the...
FinanceWorld
Senegal Begins Review Of Oil And Gas Contracts With Foreign Companies To Regain Control Of Resources
Senegalese Prime Minister Ousmane Sonko announced the creation of a commission tasked with reviewing and renegotiating contracts with foreign companies, which critics argue...
FinanceNews
NNPC Denies Tinubu’s Involvement In OVH Acquisition Deal
Nigerian National Petroleum Company Limited (NNPCL) has denied the involvement of President Bola Tinubu in the controversial acquisition deal of NNPC retail by...