THE Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorization at N500 billion. A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasized that […]
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Nigeria’s Federal Capital Territory (FCT) minister, Nyesom Wike, has wooed Indian businessmen to increase their presence in the nation’s capital. The Minister made this observation on Tuesday in Abuja, when he received, in courtesy, the Indian High Commissioner to Nigeria, His Excellency, Balasubramanian Shri. Wike said that Indians’ commitment to keeping their cordial relationship with […]
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AFTER weeks of political unrest, people in Senegal are voting for a new president. Seventeen candidates are on the ballot, each hoping to replace President Macky Sall who is barred from running again after reaching the two-term limit. The election had been due to take place last month, but Mr Sall postponed it, triggering […]
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A MASS grave containing the bodies of at least 65 migrants has been found in Libya, the International Organization for Migration (IOM) has said. The IOM said the circumstances of their deaths and their nationalities are still unknown but they believe they died being smuggled through the desert towards the Mediterranean. The organisation, part of […]
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The Islamic State on Saturday claimed responsibility for an attack Wednesday on Niger’s army that it said had killed 30 soldiers. The group said in a statement carried by its Amaq news agency and posted on its Telegram channel that the soldiers were killed in an ambush on a convoy near the town of Teguey […]
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The Charge d’ Affairs and Deputy head of Mission of the US embassy in Nigeria, Mr David Greene has said that, “The U.S. government is providing broad assistance across Nigeria to support agriculture development and boost food production in Nigeria noting that, “The USAID invested almost $200 million in agriculture for the last five years […]
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The Consul-General, Consulate General of People’s Republic of China, Ms. Yan Yuqing, has described Nigeria as a pilot country for China-Africa cooperation in building the BRI and revealed that the trade volume between Nigeria and China was $22.6 billion in 2023. He also said Nigeria’s export to China increased by 50 percent during the year. […]
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With the full implementation of the African Continental Free Trade Area (AFCFTA) agreement still being awaited, Nigeria and other African countries have been charged to look beyond removal of trade tariffs and start addressing the critical issue of infrastructure deficit in the continent. Rwanda High Commission to Nigeria, High Commissioner Christophe Bazivamo, made this […]
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Nigeria’s House of Representatives has asked the Federal Ministry of Industry, Trade and Investment, to immediately halt the signing and implementation of a trade partnership with the United Kingdom (UK), which allows UK lawyers to practice within Nigeria. A motion by 49 lawmakers, pointed to recent reports and public outcry, over an alleged economic and […]
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Nigeria’s relations with Saudi Arabia are progressing well, according to outgoing Ambassador Yahaya Lawal. In an emotional message, Lawal told told newsmen recently that he would always consider Saudi Arabia his “second home.” “My assignment in Saudi Arabia has been extremely fruitful. I must say that it was very fulfilling as a career diplomat. I […]
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