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News - Page 777

Renaissance Taps 13 Banks for $4.1 Billion Nigerian Oil Contractor Funding

October 16, 2026

Renaissance Africa Energy has secured financing commitments from 13 banks for a $4.1 billion dollar-denominated portfolio and a separate ₦435 billion facility to support indigenous oil and gas contractors as the company

Africa·News·Top Stories

Kenya Bolsters Lamu Security as Dangote Refinery Project Advances

October 16, 2026

Kenya’s military has called for heightened vigilance to protect strategic infrastructure in coastal Lamu as a proposed $16 billion refinery by Nigerian industrialist Aliko Dangote advances, following a court ruling that lifted

NGX stock market. Photo credit: TheCable

Business News·Markets·News

NGX Investors Witness N220bn Loss Amidst Market Volatility

NGX Investors in the Nigerian equities market found themselves grappling with a loss of N220 billion as trading came to a close on Monday. This downturn was underscored by the dip in the share value of several entities, including Abbey Mortgage Bank,

April 9, 2024

Energy, Exchange Rate, Transportation Top Three Drivers Of Inflation In Nigeria - CBN Survey

Business News·Currency·Finance & Economy·News

Why CBN Banned Use Of Foreign Currency Collaterals For Naira Loans

The Central Bank of Nigeria (CBN) has tightened regulations surrounding loan collaterals, specifically targeting the use of foreign currencies.

April 9, 2024

News·Politics

EFCC Recovers N30 Billion, Investigates 50 Bank Accounts In Betta Edu Probe

The Economic and Financial Crimes Commission (EFCC) has recovered N30 Billion and is investigating 50 Bank Accounts in the ongoing investigation involving the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu. According to Mr. Ola Olukoyede, the Chairman of EFCC,

April 9, 2024

Africa·Business News·News

Nigeria To Receive $1bn Afreximbank Loan In May For Bolstering Economy

Nigeria is gearing up to receive a significant financial injection of $1.05 billion from Afreximbank, set to be unleashed next month. This syndicated loan, intricately linked to the nation’s oil reserves, aims to breathe new life into Nigeria’s economy, which has been

April 9, 2024

Nigerian Govt Spends ₦380bn On Electricity Subsidy In Q2 2024 — NERC

Business News·News

DisCos Blame Technical Glitches For Inability To Maintain 20-Hour Power Supply

Several electricity distribution companies, commonly known as DisCos, are facing challenges in providing the mandated 20-hour power supply to customers on Band A feeders. This failure has led to apologies and explanations from DisCos across various regions of Nigeria. The Benin Electricity

April 9, 2024

Africa

Zimbabwe’s ZiG Currency To Go Into Circulation April 30

The Reserve Bank of Zimbabwe (RBZ) has announced the introduction of a new currency, Zimbabwe Gold (ZiG), which will replace the Zimbabwean Dollar.

April 8, 2024

Kenya On The Risk Of Losing Billions To Its Financial System- United States Warns

Africa·News·World News

Kenya At Risk Of Losing Billions To Its Financial System- United States Warns

The United States has issued a stark warning to Kenya, cautioning that its major financial system, the Integrated Financial Management Information System (Ifmis), is at risk of losing billions of shillings. According to a report from the Office of the United States

April 8, 2024

$2bn Stolen In Cryptocurrencies In 2023 - Report

Business News·Markets·News·World News

Cryptocurrency Market Set To Double To $5bn By End Of 2024, Ripple CEO Predicts

Ripple CEO Brad Garlinghouse made a bold prediction, foreseeing the cryptocurrency market’s capitalization reaching a whopping $5 trillion by the year’s end. This forecast, he says, is underpinned by two significant developments: the introduction of the first US spot Bitcoin ETF and

April 8, 2024

NNPC: Petrol Import To Stop As Port Harcourt Refinery Begins Operations Soon

Business News·News·Oil & Gas

NNPCL Slow To Settle $3bn Debt To Oil Traders, Cites Rising Global Prices, Refinery Progress

The Nigerian National Petroleum Company Limited (NNPCL) is facing scrutiny over its sluggish repayment of $3 billion debt owed to oil traders for imported petrol. Despite making progress in clearing the overdue payments, the pace of repayment remains a cause for concern.

April 8, 2024

World News

Nicaragua Drags Germany To ICJ Over Alleged Role In Gaza Genocide

The Republic of Nicaragua has taken Germany to the International Court of Justice (ICJ) in The Hague, accusing it of aiding genocide in Gaza by supplying arms to Israel.

April 8, 2024

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China, North Korea Open Long-Delayed Bridge to Facilitate Trade

China and North Korea opened a long-delayed border bridge on

Worries As Oil Price Crash, Low Production Threaten Nigeria’s 2025 Budget

Iran Conflict Pushes South African Fuel Prices Sharply Higher

South Africa will raise petrol prices by more than 11%

India-New Zealand Free Trade Agreement to Take Effect on Oct. 20

India and New Zealand’s free trade agreement (FTA) will take

UBA Opens Subscription Channel for Dangote Refinery IPO, Invites Investors to Participate

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has

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News - Page 777

Renaissance Taps 13 Banks for $4.1 Billion Nigerian Oil Contractor Funding

Kenya Bolsters Lamu Security as Dangote Refinery Project Advances

NGX Investors Witness N220bn Loss Amidst Market Volatility

Why CBN Banned Use Of Foreign Currency Collaterals For Naira Loans

EFCC Recovers N30 Billion, Investigates 50 Bank Accounts In Betta Edu Probe

Nigeria To Receive $1bn Afreximbank Loan In May For Bolstering Economy

DisCos Blame Technical Glitches For Inability To Maintain 20-Hour Power Supply

Zimbabwe’s ZiG Currency To Go Into Circulation April 30

Kenya At Risk Of Losing Billions To Its Financial System- United States Warns

Cryptocurrency Market Set To Double To $5bn By End Of 2024, Ripple CEO Predicts

NNPCL Slow To Settle $3bn Debt To Oil Traders, Cites Rising Global Prices, Refinery Progress

Nicaragua Drags Germany To ICJ Over Alleged Role In Gaza Genocide

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Renaissance Taps 13 Banks for $4.1 Billion Nigerian Oil Contractor Funding

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China, North Korea Open Long-Delayed Bridge to Facilitate Trade

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UBA Opens Subscription Channel for Dangote Refinery IPO, Invites Investors to Participate

Renaissance Taps 13 Banks for $4.1 Billion Nigerian Oil Contractor Funding

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