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Nigeria tightens regulation on money laundering, tax evasion

The President Muhammadu Buhari has stepped up the regulations on money laundering and tax evasion by releasing a new Executive Order No.8, tagged Voluntary Offshore Assets Regularisation...

Looting kills South African ...

  Investigation shows that scores of people and companies in South Africa looted $130 million over three years, causing the collapse of VBS Mutual bank. Reports on the...

Africa requires $600b for development...

Africa requires between $600 billion and $700 billion annually finance development annually. The Africa Development Bank (AfDB) unveiled in its “African Economic Outlook 2018’’ that the...

Commonwealth finance ministers meet

Finance Ministers from the 53 member countries of the Commonwealth, many of who are Africans, are converging at the margins of the International Monetary...

South African finance minister resigns

In the heart of corruption scandal in the government of Presidenty Cyril Ramaphosa, South African Finance minister Nhlanhla Nene has resigned.   Nene considered a very close ally...

MTN getting soft landing over $8.1b crisis

The crisis over the inappropriate repatriation of $8.1 billion by telecom giant, MTN, is heading for amicable settlement. The Central Bank of Nigeria (CBN) has...

Swiss bank, collaborators face tax fraud charge

Swiss bank, UBS Group AG, its French unit and six executives have been charged for alleged aggravated tax fraud and money laundering. Their charge on...

MTN shares up 2% on possibility of reduced repatriation demand

South Africa’s MTN Group shares rose as much as 2.55 per cent after the Central Bank of Nigerian (CBN) reduced the $8.1 billion it ordered the...

Finance minister, CBN governor...

Nigeria finance minister Zainab Ahmed and the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, will join other economic experts to discuss issues affecting...

First Bank seeks to reward youths

In alignment with its financial inclusion drive, First Bank of Nigeria has declared a campaign aimed at rewarding its youth customers for using their...

Nigeria wants prosecution of collapsed bank’s directors

Nigeria’s finance minister Zainab Ahmed has asked the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to investigate and prosecute directors...

Saudi Arabia eyes $600b in Sovereign Wealth Fund

The Sovereign Wealth Fund of Saudi Arabia will surpass its target of increasing its financial clout to $600 billion by 2020, as part of...

Nigeria generates $12b from taxes in 10 months

Nigeria has generated more than $12.8 billion in taxes between January and September this year.   This amount is $3.3 billion higher than the amount realised the...

Ex-Rwanda development bank’s chief arrested

Former Chief Executive Officer, Development Bank of Rwanda, Alex Kanyankore, has been arrested on charges of favouritism and receiving illegal benefits while in office.   The Rwanda Investigation...

World Bank cuts sub-Saharan Africa’s growth forecasts to 2.7%

The World Bank has cut its forecast for growth of sub-Saharan Africa in 2018 to 2.7 per cent, down from an earlier 3.1 per cent, partly...

Nigeria slashes business name registration fee by half

Nigeria’s Vice President Yemi Osinbajo has announced approval of a 90-day special window to register businesses at a reduced rate of US$16.4 (N5,000 )...

Saudi Arabia gives $200m lifeline to Yemen

Saudi Arabia has approved a grant of $200 million to Yemen’s Central Bank to stem the riyal’s slide.   “The aid was aimed at stabilising the...

World Bank withholds grant for Tanzania

The World Bank has confirmed it was withholding 50 million dollars of grant for Tanzania because the bank was deeply concerned about restrictions that...

Liberia’s apex bank denies losing $100m

Amidst outrage that sparked investigation, Liberia’s Central Bank has denied losing more than $100 million in newly printed notes. The Information minister said last month...

UK firm gets final nod for...

British firm has received the nod to commence work on the $2 billion contract to construct the High Grand Falls Dam in Kenya.   London-based GBM...
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