(AFRICAN EXAMINER) – The Senate has enjoined the Central Bank of Nigeria (CBN) to extend its deadline for the phasing out of the old N1,000, N500 and N200 notes. African Examiner recalls that the CBN had initially stated that from January 31st the old notes will fizzle out. However, the senate wants the date to […]
(AFRICAN EXAMINER) – The Nigerian Naira fell to all-time low of N456.33 per dollar despite increased liquidity at the official market. Foreign exchange (FX) activity levels, which is reflected in the daily turnover rose significantly by 181.62 percent but failed to shore up the value of Naira. The FX daily turnover increased to $377.48 million […]
(AFRICAN EXAMINER) – CBN Deputy Governor Aisha Ahmad, the Deputy Governor of the Central Bank of Nigeria (CBN), has stated that she does not know the quantities of new notes the CBN printed and released for circulation. Ahmad stated this as she responded to questions when she appeared before the House of Representatives to talk […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has stated that Individuals can now withdraw N500,000 cash weekly after it reviewed its cash withdrawal limits. African Examiner writes that this policy was reviewed two weeks after the CBN initially announced the withdrawal limits policy. Announcing the development in a circular signed by the Director […]
(AFRICAN EXAMINER) – African Development Fund (ADF), the concessional window of the African Development Bank (AfDB) Group, has approved grants worth $20.56 million to finance the fourth expansion of Banjul Port in The Gambia. The funding comprises an ADF grant of $13.71 million and another $6.85 million grant from the Transition Support Facility window. The […]
(AFRICAN EXAMINER) – The Sudanese Government has secured $73.81 million grant from the African Development Bank (AfDB) to finance its emergency wheat production project under the Bank’s African Emergency Food Production Facility. The project which is tagged, “Sudan Emergency Wheat Production Project (SEWPP)”, is aimed at improving the production of wheat in the country. Agriculture […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) and its partners have announced that the newly launched African Pharmaceutical Technology Foundation (APTF) will be unveiled on Thursday in Kigali, Rwanda. The APTF will be unveiled during a forum holding at the 2nd International Conference on Public Health in Africa which runs from December 12 to 15. […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) Group has announced the appointment of Prof. Padmashree Gehl Sampath as the new Special Advisor on Pharmaceuticals and Health Infrastructure to the president of the bank, Dr. Akinwumi Adesina. Prof. Sampath will also be leading the technical work related to the setting up of the African Pharmaceutical Technology […]
(AFRICAN EXAMINER) – The African Development Bank (AfDB) Group has approved a loan of $179.66 million to support government reforms to restore post-pandemic fiscal stability and economic recovery in Botswana. The funds for phase II of the programme will build on the successes of the first phase by supporting policy measures designed to boost economic […]
(AFRICAN EXAMINER) – The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the newly redesigned Naira notes are already in banks and ready for issuance. According to multiple tweets on CBN’s official handle, Emefiele made the statement at Daura while on a visit to brief President Muhammadu Buhari on the Naira […]
(AFRICAN EXAMINER) – The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has disclosed that the new naira notes have already been disbursed to the various commercial banks and expect that banks would begin distribution to the public. Emefiele made the declaration on Thursday after a visit to President Muhammadu Buhari in his […]
(AFRICAN EXAMINER) – Development partners of the African Development Fund (ADF) have agreed to commit a total package of $8.9 billion to its 2023 to 2025 financing cycle. This is coming after a year of intense negotiations and a difficult global economic outlook. It is the largest replenishment in the history of the Fund. ADF […]
(AFRICAN EXAMINER) – Business, finance experts and other stakeholders were sharply divided on the implications and timing of the new cash withdrawal limits by the Central Bank of Nigeria (CBN). They are concerned that the new policy might worsen the tight economic environment. The Senate has scheduled a debate on the matter for next Tuesday. […]
(AFRICAN EXAMINER) – A frontline multinational commercial bank in Nigeria, Access Bank Plc has lauded the impact of women on the national economy and reiterated the need for corporate organisations to support the female entrepreneurs. Owned by Access Bank Group, the bank is proactively deepening its commitment to inspire, connect and empower women through the […]
(AFRICAN EXAMINER) – A new cash withdrawal limit which is a follow-up policy to the Naira Redesign Policy has been announced by the Central Bank of Nigeria. In a statement signed by the Supervising Director of the CBN, Haruna B. Mustapha, the maximum cash withdrawal over the counter (OTC) by individuals and corporate organizations per […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) Group has approved $301 million grant to overhaul the Kampala-Malaba Meter Gauge Railway (MGR) in Uganda. The railway line is part of the East African Community’s Northern Corridor linking the capital, Kampala, to Kenya’s coastal city of Mombasa. The East African Community Railway Rehabilitation Support Project will bolster […]
(AFRICAN EXAMINER) – President of the African Development Bank (AfDB), Dr. Akinwumi Adesina has said that the African Diaspora has become the largest financier of the continent. Dr. Adesina made the observation in his opening remarks at the hybrid Forum, hosted by the bank in partnership with the African Union (AU) Commission, the International Organisation […]
(AFRICAN EXAMINER) – The African Financial Alliance on Climate Change (AFAC) unveiled a new strategy vision for 2030, which is aimed at catalyzing private financing for climate action across Africa. This inauguration of the vision was held during AFAC strategy session that took place on the sidelines of global climate summit (COP27), prioritizing mobilizing capital […]
(AFRICAN EXAMINER) – Major players in the soft drink market have pleaded with the national assembly to protect businesses from collapsing over the N10/litre excise duty tax imposed on the industry. They made this known on Wednesday in Abuja in a meeting with the leadership of the national assembly. African Examiner recalls that in January, […]
(AFRICAN EXAMINER) – Despite the increasing fuel scarcity across the country, the Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that it has two billion litres of Premium Motor Spirit (PMS), aka petrol, in stock. In a statement on Thursday, Adeyemi Adetunji, Executive Vice President, Downstream, NNPC Limited, disclosed that with enough fuel in […]
