Nigeria
Nigeria: CBN Approves Sterling HoldCo’s N75bn Capital Injection
The Central Bank of Nigeria (CBN) has granted approval for the N75 billion additional capital raised by Sterling Financial Holdings Company (Sterling HoldCo), ...
Nigeria
Nigeria, Others Lose $1.6bn Daily to Illicit Financial Flows – AfDB
Africa is losing approximately $1.6 billion daily due to illicit financial flows (IFFs) and profit shifting by multinational corporations operating on the continent, ...
Nigeria
Nigeria: MTN, NTEL Spectrum Lease Extension to Enhance Nigeria’s 3G and 4G Coverage
The Nigerian Communications Commission (NCC) has approved the renewal and expansion of the spectrum lease agreement between MTN Nigeria Communications Plc and Natcom ...
News
Nigeria: Telecom Operators Suffer N35.4bn Loss Due to Fibre Cable Cuts in 2023
The Nigerian telecommunications sector faced significant challenges in 2023, with operators reporting losses of at least ₦35.4 billion (approximately $23 million) due to ...
News
Nigeria: Stanbic IBTC Facilitates $2 Billion FX Inflows into Nigeria
Stanbic IBTC Bank has reinforced its position as Nigeria’s leading bank for capital importation, accounting for a significant 28.30% of total foreign capital ...
News
Togo Secures Additional $58 Million Loan from IMF
Togo has gained access to a $58.7 million loan from the International Monetary Fund (IMF) following the completion of the first review under ...
Nigeria
Nigeria: Naira Strengthens to N1537 after CBN Sells $40m to Banks
The naira appreciated to N1,537 per US dollar in the official foreign exchange market on Tuesday following the Central Bank of Nigeria’s (CBN) ...
Nigeria
Nigeria: Access Bank Surpasses Recapitalisation Deadline, Exceeds New Capital Requirement
Access Bank, a subsidiary of Access Holdings Plc and Nigeria’s largest lender by total assets, has successfully exceeded the Central Bank of Nigeria’s ...
Nigeria
Nigeria: CBN Disqualifies 41.65 Million Shares in Access Holdings Rights Issue
The Central Bank of Nigeria (CBN) has disqualified 41.65 million shares valued at ₦822.60 million in Access Holdings Plc’s recently concluded rights issue. ...
Nigeria
Nigeria Receives $285m in Foreign Capital from African Investors – NBS
The National Bureau of Statistics (NBS) has reported that African investors, excluding Nigeria, contributed a substantial $285.11 million foreign capital to Nigeria during ...