Finance
Nigeria Approves ExxonMobil’s $1.28 Billion Asset Sale to Seplat
Nigeria has approved the sale of ExxonMobil’s onshore assets to Seplat Energy, according to Reuters. The $1.28 billion deal had been under regulatory...
Nigeria’s FG Proposes 5% Excise Duty on Telecoms, Gambling, and Gaming Activities
The Nigerian government has proposed a 5 per cent excise duty on telecommunications, gambling, and gaming services. This proposal is included in the...
Mali To Settle Internal Debt To Stabilise Economy, Attract Investors
Mali is set to begin settling its internal debt next week, with plans to complete payments by December 31, 2024. The announcement was...
De-dollarization: BRICS Unveils Demo Card for New Payment System Ahead of 2024 Summit
BRICS nations have unveiled a demo version of their new BRICS Pay payment system at the BRICS Business Forum in Moscow. Participants received...
Naira Listed Among Worst Performing Currencies in Africa – World Bank
The naira has been listed as one of the worst-performing currencies in Sub-Saharan Africa for 2024. This is according to the World Bank’s...
Nigeria’s Inflation Surges to 32.70% in September, as Petrol Prices Rise
Nigeria’s inflation rate in September 2024 rose to 32.70 per cent, an increase from 32.15 per cent in August. This is according to...
Kenya to Begin Real-Time Monitoring of Crypto Transactions for Tax Collection
The Kenya Revenue Authority (KRA) is set to introduce a new tax system that will enable it to track cryptocurrency transactions in real-time....
DR Congo Halts Licensing Process for 27 Oil Blocks
The Democratic Republic of Congo (DRC) has halted the licensing process for 27 oil blocks, launched in 2022. This was announced through a...
National Assembly Proposes Increase in VAT to 10% by 2025, 12.5% from 2026
The Nigerian National Assembly is considering a bill to increase the Value-Added Tax (VAT) from 7.5 per cent to 10 per cent by...
Court Orders CBN to Pay Kasmal Services N579bn Over Unpaid Stamp Duty Commission
A Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to pay Kasmal International Services N579.1 billion. The sum...
Courts Rejects Bail for Detained Binance Executive, Says Nigeria Can Handle His Health
Tigran Gambaryan, Binance’s head of financial compliance, has been denied bail for the second time as he faces money laundering charges in Nigeria....
Nigerian Govt. Demands Arrest of Dana Air MD Over Failure to Appear in Court in N1.3 Billion Fraud Case
The Nigerian government has called for the arrest of Hathiramani Ranesh, Managing Director of Dana Air, over his failure to appear in court...