Bandits have reportedly abducted over 100 persons in an attack on Mutunji, a community in Maru Local Government Area, Zamfara State. The bandits attacked the community on 24 November during Isha prayers. The attack came after a bandit kingpin identified as Damina gave residents of the community a one-week ultimatum…

The Igbo socio-cultural organisation, Ohanaeze Ndi Igbo, has urged ethnic Igbos residing in Lagos State to relocate their investments to the Southeast geopolitical zone. Ohanaeze said cities like Aba, Abakiliki and Onitsha have immense growth potential; hence, Igbos should consider investing in these areas. …

According to the Monetary Policy Report of the Bank of Ghana, banks continue to deploy their resources towards short-term investments as credit to the private sector contracted in October 2023 and September 2023. This is in response to the increased risks associated with lending following the deteriorating macroeconomic conditions and…

The Central Bank of Nigeria (CBN) has announced its intention to carry out a fresh round of recapitalisation for the Deposit Money Banks (DMBs). Olayemi Cardoso, the CBN governor, announced this at the Annual Bankers’ Dinner in Lagos. Cardoso highlighted the crucial need for banks to be recapitalised, considering the…

Nigeria has revised its 2024 budget upwards by ₦1.5 trillion to ₦27.5 trillion ($32.76 billion), Budget Minister Atiku Bagudu said, after increasing the oil price benchmark to $77.96 and lowering the naira exchange rate assumption to ₦750 per dollar. Also, the government is seeking to borrow $8.6 billion and €100…

President Bola Tinubu has appointed a new 9-member Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL), with Mele Kyari retained as the Group’s Chief Executive Officer. The new Board and Management team includes Pius Akinyelure as Non-Executive Chairman, Mele Kyari as Group Chief Executive Officer (GCEO)…

Ghana’s Central Bank has barred eight Money Transfer Organisations (MTOs) from offering remittance services without regulatory approval. According to a notice seen by TechCabal, these companies include LemFi, Wise, Transfer Go, PayPal’s Xoom, SendValu, Boss Revolution, Aza Finance and Supersonicz. The Central Bank warned the public, commercial banks, Dedicated Electronic…

Israel recalled its Ambassador to South Africa, Eli Belotserkovsky, for “consultations”, due to “recent comments” from South Africa, the Ministry for Foreign Affairs said. Earlier this month, South Africa recalled its ambassador and diplomatic mission to Israel and described the war against Hamas in Gaza as “genocide.” South Africa’s ruling…

More than 60 people are feared to have been killed in a fierce fight between Boko Haram fighters and another jihadist group affiliated with the Islamic State in the Lake Chad region. Sources said the fighting took place when the Islamic State’s West Africa Province (ISWAP) fighters ambushed a fleet…