A pedestrian in the Lagos Island district of Lagos, Nigeria, on Monday, Nov. 14, 2022. Bloomberg | Bloomberg | Getty Images The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa’s largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced … Read more
Youverify, a Nigerian provider of identity verification and anti-money laundering (AML) solutions for banks and startups, secured a $2.5 million investment from Elm, which specializes in offering ready-made and customized digital solutions to public and private institutions in Saudi Arabia. The pre-Series A investment from Elm also includes a strategic partnership to help Youverify streamline … Read more
ABUJA, Nigeria — Gunmen attacked a school in Nigeria’s northwest region Thursday and abducted at least 287 students, the headteacher told authorities, marking the second mass abduction in the West African nation in less than a week. Abductions of students from schools in northern Nigeria are common and have become a source of concern since … Read more
ABUJA, Nigeria — Nigeria’s government employees and other union workers began a new nationwide strike Tuesday that threatened to shut down key services while people are angry about soaring inflation and growing economic pain. Since assuming office in Africa’s most populous country last year, President Bola Tinubu has enacted policies that include doing away with … Read more
ABUJA, Nigeria — Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across the country. The latest government statistics released Thursday showed … Read more
ABUJA, Nigeria — Nigeria’s Supreme Court on Friday overturned a lower court ruling dismissing terrorism charges against a popular separatist leader whose trial has been blamed for an outbreak of violence in the country’s southeast region. The Court said Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB) separatist group that seeks independence for … Read more
Nigeria’s leader has presented a $34.8 billion spending plan for 2024 to federal lawmakers with a focus on stabilizing Africa’s largest but ailing economy and tackling a deadly security crisis ByCHINEDU ASADU Associated Press November 29, 2023, 11:22 AM ABUJA, Nigeria — Nigeria’s leader on Wednesday presented a 27.5 trillion naira ($34.8 billion) spending plan … Read more
Authorities in north-central Nigeria’s Niger state say 25 people have been killed and dozens of others injured after a truck overloaded with food items and people crashed ByCHINEDU ASADU Associated Press November 22, 2023, 12:27 PM ABUJA, Nigeria — A truck overloaded with food items and more than 200 people crashed in north-central Nigeria’s Niger … Read more
Nigeria’s president has signed a controversial bill that earmarks $6.1 million for a presidential yacht and millions more for sport utility vehicles for his wife and other top government officials ByDYEPKAZAH SHIBAYAN Associated Press November 9, 2023, 7:34 AM ABUJA, Nigeria — Nigerian President Bola Tinubu’s approval of a supplementary budget earmarking millions of dollars … Read more
Nigerian authorities say more than 70 people were missing on Monday after their boat capsized in northern Taraba state ByCHINEDU ASADU Associated Press October 30, 2023, 9:19 AM ABUJA, Nigeria — More than 70 people were missing on Monday after a boat capsized in northern Nigeria, according to authorities who deplored the frequent deadly boat … Read more