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Nigeria fines 12 banks for failing to meet loan deadline

The Central Bank of Nigeria has fined 12 commercial banks, including the local subsidiary of US Citigroup, a total of 500 billion Naira ($1.4 billion), for failing to increase loans to meet a regulatory target. According to the central bank, the banks failed to comply with the minimum loan-to-deposit ratio of 60% set at the […]

World’s most dangerous, unfriendly places through expatriates’ eyes

A recent research published by InterNations has named Nigeria, South Africa, Kenya and Egypt among the world’s most dangerous places to live and work in, for expatriates. The report polled 20,259 expats representing 182 nationalities and living in 187 countries or territories, covering topics such as quality of life, cost of living, personal finance, safety […]

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South Africa: Nigerians fly back to Lagos after xenophobic attacks

Almost 200 Nigerians have left South Africa and returned to Lagos amid xenophobic violence in the southern African nation. The repatriation came after a cycle of violence burst out in Johannesburg leading to attacks on hundreds of foreigners-owned businesses. Videos circulating online purportedly showing Nigerians being killed triggered outrage online, although Nigeria’s foreign ministry said […]

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 Nigeria debunks reports of explosion at South African High Commission in Abuja

The Nigerian government has branded “fake” reports of an alleged explosion at South Africa High Commission in capital Abuja, in wake of xenophobic attacks on foreigners including Nigerians in South Africa, Africa News reports. Information minister, Lai Mohammed, Saturday brushed aside the reports of explosion while accusing the opposition for wanting to cause panic and […]

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Nigeria, DRC boycott World Economic Forum taking place in Cape Town

Leaders of Nigeria and the Democratic Republic of Congo, DRC, have reviewed their plans to attend the World Economic Forum, held in Cape Town, in the wake of xenophobic attacks on foreigners, including Nigerians in South Africa. A top advisor of President Muhammadu Buhari twitted that President Yemi Osinbajo will no longer attend the four-day […]

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South Africa: ‘xenophobic’ attacks against foreigners’ property

The police in Johannesburg Monday said they have detained over 70 people believed to have attacked shops and cars owned by foreigners. Police managed to disperse dozens of people who looted shops and burned down cars believed owned by foreigners among whom several Nigerians. Events started earlier in the day as hundreds of people staged […]

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Nigeria: Buhari appoints cabinet amid dwindling revenues

Nigeria’s President Muhammadu Buhari swore members of his cabinet into office on Wednesday with Zainab Ahmed returning to the Finance Ministry and newcomer Timipre Sylva heading up the key Petroleum Ministry as junior minister. According to local media, Buhari will continue as petroleum minister, but Timipre Sylva, former governor of the oil-rich Bayelsa State, will […]

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Nigeria: Bahrain-based Lamar Holding to inject investment into Fintech startup TechAdvance

Bahrain-based energy investment Lamar Holding will invest $1 million into TechAdvance, one of Nigeria’s Fintech startups. The investment will help TechAdvance carry out its expansion program across emerging markets, Zawya media reports citing a statement of the Nigeria firm. Created in 2009, TechAdvance develops payments applications and transformation softwares. “The payments space in emerging markets […]

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Nigeria’s Buhari to pay visit to South Africa in October

Nigerian President Muhammadu Buhari and South African President, Cyril Ramaphosa, have agreed to meet in October to discuss trade relations between the two largest African economies. According to Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, the two leaders will consider recurrent issues concerning the wellbeing of the Nigerian […]

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Nigerian NNPC highlights benefits of Nigeria-Morocco gas pipeline

The Nigeria-Morocco Gas Pipeline (NMGP) project will open new vistas for Nigeria’s gas aspirations, the Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, has said. Mallam Kyari disclosed this Tuesday in Abuja at a stakeholders’ engagement involving the corporation, its Moroccan partner on the Gas Project, the Morocco National Office for […]

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