Nigeria unveiled another set of measures aimed at forcing lenders to extend more credit in an effort to revive economic growth, this time cutting the amount of money companies can keep in interest-bearing accounts at the central bank. Banks will … read more
Armed bandits killed at least 18 people in raids in rural northern Nigeria, where attacks by kidnappers and cattle rustlers have been on the rise, residents said Friday. Gunmen on motorbikes stormed into four villages in Kankara and Danmusa districts … read more
A Nigerian court has ordered the imminent seizure of $40 million worth of jewellery and a customised gold iPhone belonging to former oil minister Diezani Alison-Madueke, the country’s anti-graft agency said on Friday. The items, including hundreds of bangles, rings, … read more
The UN Inter-agency Standing Committee (IASC) says the humanitarian crisis in Borno, Adamawa and Yobe needs renewed support in the face of the recent upsurge in violence and growing humanitarian needs. IASC, made up of senior officials from UN agencies … read more
The National Agency for Food and Drug Administration and Control (NAFDAC) has directed the Nigerian Bottling Company Limited to recall batches of one of its popular products (Eva Premium Table Water) due to public complaints of impurity in the water. … read more
In an effort to boost economic growth in Africa’s most-populous country, Nigeria is giving its banks a choice: lend more money, or hand it over to the central bank and earn nothing on it. Banks should use at least 60% … read more
Gunmen have kidnapped two Chinese citizens and killed their police guard in southern Nigeria, police said on Friday, the latest such incident targeting workers from the country. The abduction took place Wednesday at the town of Utesi in the southern … read more
When Africa’s free trade area launches on 7 July, a key player will be missing. However, Victor Adetula, head of research at Nordic Africa Institute (NAI) in Sweden, predicts that Africa’s largest economy, Nigeria, will gradually open up and join … read more
Two people have died after an oil pipeline exploded in an area of Lagos, Nigeria’s commercial hub, according to the Lagos State Emergency Management Agency. The fire began in the early hours of the morning, the emergency agency said by … read more
Nigeria, the country with the largest economy in Africa, was one of the last holdouts to signing the Africa free trade agreement but it has committed to signing the document at the upcoming African Union Summit. Africa free trade agreement … read more