Economy

A new payment platform, the Pan-African Payment and Settlement System (PAPSS), now removes legacy complexities, including the cost of cross-border payments, bolsters operational efficiencies and sets a new path to more stable and stronger African currency....

By Emmanuel Nduka The Central Bank of Nigeria (CBN) has informed that it will commence an electronic invoice (e-invoice) for all import and export operations from February 1. An e-invoice is a digitally-delivered invoice issued, transmitted,...

By Emele Onu (Bloomberg) Nigeria’s giant new Dangote oil refinery will start processing crude in the third quarter of this year. Mechanical work on the refinery is complete and “hopefully before the end of the third...

By Emmanuel Nduka Nigeria’s Vice President, Yemi Osinbajo has warned multilateral finance institutions against defunding oil and gas projects in Africa. His warning comes as developed countries continue their drive to phase out polluting fuels, saying...

By Emmanuel Nduka Nigeria’s President, Muhammadu Buhari has superintended the draining of Nigeria’s Excess Crude Account (ECA) to $35.8 million from over $2 billion left by former President Goodluck Jonathan in 2015. This statistics were read...

By John Ikani  Data obtained from the Central Bank of Nigeria (CBN) have shown that Nigeria recorded a foreign exchange inflow of $55.5bn in seven months. The data contained in CBN’s economic reports attributed the rise...