(AFRICAN EXAMINER) – The management of the Lekki Deep Seaport has announced that Rimbaud has become the first transshipment vessel to berth at the port. Making this known in a series of tweets on Friday, the port management said the ship operated by CMA CGM, has a Length Overall of 270m, a breadth of 42.8m […]
(AFRICAN EXAMINER) – The sustained advocacy of the Mohammed Bello Koko- led Management of the Nigerian Ports Authority (NPA) for the decongestion of the Ports to pave way for efficient operations received a boost on 23rd June, 2023, when Permanent Secretary Federal Ministry of Transportation Dr. Magdelene Ajani led an inter-agency team consisting of the […]
(AFRICAN EXAMINER) – The naira has appreciated by 0.68 per cent against the United States dollar on the Investor & Exporter forex window. The local currency closed at N763/$ on Tuesday, compared to N768.17/$ at the close of trading on Monday. There was no trading on Wednesday owing to the two-day public holiday to mark […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) Group has approved an equity investment of €18 million in the Africa Guarantee Fund (AGF) and another €1.2 million to support youth and women entrepreneurs engaged in agricultural value chains in Kenya. AGF is a private limited liability pan-African non-bank financial institution headquartered in Nairobi, Kenya. Its objective […]
(AFRICAN EXAMINER) – The World Bank has clarified that the 800 million dollar loan from the bank was approved as of December 2021, a time when the government of Muhammadu Buhari contemplated the removal of fuel subsidy. Its Nigerian articlesCountry Director, Dr Shubham Chaudhuri, made this known on Tuesday at an event organised by the […]
(AFRICAN EXAMINER) – The Nigeria Customs Service, Adamawa/Taraba Area Command, has stated that there has been a huge reduction in the smuggling of premium motor spirits, also known as petrol, since the removal of fuel subsidy. The African Examiner recalls that President Bola Ahmed Tinubu had, during his speech on inauguration on May 29, 2023, […]
(AFRICAN EXAMINER) – President Bola Tinubu on Friday in Paris, France said that the financial system under the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele was rotten The President spoke during an interactive session with Nigerians in the Diaspora residing in France and neighboring European countries, on the sidelines of the […]
(AFRICAN EXAMINER) – The International Monetary Fund (IMF) has commended the Zambian Government for the Debt Treatment Agreement it signed with its official creditors under the Group of 20 (G20) Common Framework. The G20 is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the […]
(AFRICAN EXAMINER) – An American company previously indicted for bribery in Nigeria has again been accused of collaborating with officials of the Nigerian National Petroleum Company, NNPCL and TotalEnergies in undermining Nigeria’s local content law and award of a contract for providing a drilling ship at $142k per day higher than that originally awarded. South-South […]
(AFRICAN EXAMINER) – The Federal Government, on Monday, said six new companies have received approval to import petroleum products into Nigeria. The Managing Director of Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDRA), Farouk Ahmed made this disclosure to state correspondents at the Presidential Villa. Farouk stated that apart from the approved six, several companies […]
(AFRICAN EXAMINER) – President Bola Tinubu has assured prospective investors in Nigeria that his administration would provide a better business climate for them to thrive. A statement issued on Monday and signed by Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake, said Tinubu made the commitment on Monday during an […]
(AFRICAN EXAMINER) – Stallion Motors Nigeria has reaffirmed its leadership in the Nigerian automobile industry with the commendation of the company’s Hyundai Kona EV, Nigeria’s first locally produced electric vehicle by Vice President Kashim Shettima. Produced from its Lagos plant, the Hyundai Kona EV is projected to be the toast of Nigerian automobile enthusiasts and […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) on Wednesday informed all authorised dealers and the general public of immediate changes to operations in the Nigerian Foreign Exchange (FX) Market. This will involve the unification of all segments of the forex market collapsing all previous windows into one, said a statement by the Director […]
(AFRICAN EXAMINER) – The African Development Bank (AfDB) Group has announced the appointment of Jacques Edjangue as Vice President for People and Talent Management/ Edjangue’s appointment, which takes effect from 16th of June, was contained in a statement made available to the media on Wednesday. He is a Cameroonian national, who is an accomplished […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) has announced that it is providing $950,000 to support women’s access to finance and training and accelerate economic inclusion in the Sahel region of Africa. The $950,000 grant will be facilitated by AfDB’s Gender Equality Trust Fund to the Africa Small and Medium Enterprise Business Linkages Programme in […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has reacted to reports claiming that it has devalued the naira to about 630 naira to a dollar. The report of the currency devaluation was earlier reported by one of the national dailies. However, in a statement on Thursday, the bank’s Acting Head of Corporate Communications, […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria, CBN, has refuted claims that it devalued the Naira. It could be recalled that there are reports that the CBN devalued Naira from N631 to the dollar from N461.60 it sold at the Importers and Exporters (I&E) window the previous day. Reacting to this development, in a […]
(AFRICAN EXAMINER) – The President of the World Bank Group, David Malpass, has warned that Nigeria’s parallel exchange rate is harmful as it worsens future debt service payments and increases the risk of debt distress. Malpass said this in a blog post titled ‘Parallel Exchange Rates: The World Bank’s Approach to Helping People in Developing […]
(AFRICAN EXAMINER) – President Bola Tinubu has stated that the present 18.5 per cent interest rate of the Central Bank of Nigeria (CBN) is “too high”. Tinubu made this known on Monday in his inaugural speech as president. Addressing Nigerians, Tinubu stated that the interest rate needs to be adjusted downwards to enable investment as […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has raised the interest rate from 18 percent to 18.5 percent. The apex bank governor, Godwin Emefiele, announced the decision on Wednesday after the policy-setting committee meeting at the CBN headquarters in Abuja. The development is the third consecutive time the apex bank will be raising […]
