Import clearance costs increase by 23% due to exchange rate volatility The cost of clearing imports went from ₦1,150.16/$ on April 23, 2024, to ₦1,412.6/$ on May 8, 2024, a 23% rise in just 16 days. Due to currency changes, import clearance fees for Nigerian manufacturers and importers have increased by 23 percent. After…
Countries affected by the regional internet blackout A severe internet outage that is now plaguing several countries in the region is interfering with e-commerce and connection in those countries. This unplanned interruption has hurt both individuals and businesses by raising questions about the reliability and consistency of the internet network in the affected countries. The…
First-ever Providus Bank sponsors The Providus Hive Providus Bank is pleased to present the highly awaited Providus Hive Fest, which will be held at The Balmoral Palace from the 31st of March to the 1st of April 2024. Meet Circo, the online networking platform that elevates African producers and content. Company Introducing Circo: the web-based…
Wigwe’s Death: Aig-Imoukhuede Emerges As New Access Holdings Chairman Access Holdings Plc (‘the Holdco’) has appointed Aigboje Aig-Imoukhuede, the former group managing director/CEO of Access Bank Plc, as its non-executive chairman. The company secretary, Sunday Ekwochi, announced that Aig-Imoukhuede will take over from Abubakar Jimoh. Jimoh will continue to serve on the Board as an…
The Francophone Africa Business Summit 2024 encourages entrepreneurship and cooperation Participants in the conference held enlightening conversations with the goal of removing obstacles and improving cooperation between African countries. The Francophone Africa Business Summit 2024 concluded on February 29, 2024, after two days of intense programming in Lagos, Nigeria. The summit, which was organized by…
Beyond Boundaries and the Ascend Studios Foundation collaborate to strengthen African women For forty high-potential tech and tech-enabled firms, the program offers a rare chance to acquire the knowledge and coaching necessary to grow their companies. The Leap Women Africa program, an accelerator aimed at supporting women leading tech-driven startups across the continent, and Ascend…
In 2023, more than 700 factories will cease operations – MAN The Tinubu administration’s naira harmonization has put a lot of strain on Nigeria’s manufacturing sector. Manufacturers in Nigeria have expressed regret over the worsening economic situation, which has caused 767 firms to cease operations and 335 to experience financial difficulties in 2023. The stopping…
AfDB Supports Food Production In Nigeria With $134 Million The African Development Bank (AfDB) has announced a significant investment of $134 million to bolster Nigeria’s agricultural sector. This interesting initiative was revealed by AfDB President, Akinwumi Adesina, during his recent visit to the Centre for Dryland Agriculture (CDA) at Bayero University, Kano. Speaking, Adesina detailed…
Dangote Cement Shareholders To Get 50% Dividend Increase Under the commitment made by Chairman Aliko Dangote at Dangote Cement’s 2022 Annual General Meeting (AGM) to provide increased returns on investments to shareholders and stakeholders, the company’s Management has proposed a 50% rise in dividend payout to N30 per share for the year ended December 31,…
Full List: US, UK, Canada, Other Countries Where Binance Have Been Banned, Restricted Recently, some countries implemented measures to block and restrict access to the websites of prominent global cryptocurrency exchanges and virtual digital asset services providers like Binance, Kucoin, OKX, and others. Notably, major economies such as China, India, Turkey, and Nigeria have imposed…
