archiveOctober 19, 2016

Nigeria is in talks with the investment arm of Saudi Arabia-based Islamic Development Bank (IDB) about issuing the country’s first sukuk as the country looks to diversify its sources of funding. “We are engaged in discussions with Nigeria,” Khaled al-Aboodi, Chief Executive Officer of the Islamic Corporation for the Development...

First Bank Nigeria to offer loans at 20% interest to buy cars Uber plans to double driver-partners by year-end from 2,000 Uber Technologies Inc. is partnering with FBN Holdings Plc’s First Bank Nigeria to provide loans to drivers as a cash crunch in Africa’s most populous nation and a shrinking...

Chimamanda Ngozi Adichie I was 7 years old the first time I recognized political fear. My parents and their friends were talking about the government, in our living room, in our relatively big house, set on relatively wide grounds at a southeastern Nigerian university, with doors shut and no strangers...

Nigeria has been affirmed by the International Monetary Fund (IMF) as the biggest economy in Africa — ahead of South Africa and Egypt. In August 2016, Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa, following the recalculation of the country’s gross domestic product...

FITCH Ratings has projected a 2.6 percent growth in Nigeria’s Gross Domestic Product (GDP) for 2017. This was contained in a statement issued on Tuesday by the global rating agency. Though Fitch reduced its forecast for the country’s GDP growth for 2016 to 1.0 percent from 1.5 percent, citing weak...

The Central Bank of Nigeria (CBN) has amended the guidelines on transaction switching in the country. The directive towards this was contained in a circular to all banks, mobile money operators and payments services providers the CBN placed on its website on Tuesday. The circular by the apex bank was...