CBN revokes licence of Heritage Bank

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By Kadiri Abdulrahman The Central Bank of Nigeria (CBN), has announced revocation of the licence of Heritage Bank Plc with immediate effect. This is according to a statement issued by Hakama Sidi-Ali, the Acting Director, Corporate Communications Department of CBN on Monday in Abuja. Sidi-Ali said that the action wasContinue Reading

Africa needs 2.2bn annually to boost structural transformation by 2030 – AfDB

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By Lucy Ogalue Africa needs to close a financing gap of about 402.2 billion dollars annually by 2030 to fast-track its structural transformation. Dr Akinwumi Adesina, President, African Development Bank (AfDB), said this during the presentation of the African Economic Outlook (AEO) 2024 at the ongoing AfDB Annual Meetings inContinue Reading

AfDB affirms commitment to promote mutual reliance on continent

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By Lucy Ogalue The African Development Bank (AFDB) has reiterated its commitment to promote mutual reliance on the continent in procurement diagnostic tools and social environment safeguards. The AfDB’s Senior Vice-President, Swazi Tshabalala, said this at the Annual Development Effectiveness Report held on the sidelines of the 2024 AfDB AnnualContinue Reading

African leaders highlight investment opportunities to broaden BRICS alliance

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By Lucy Ogalue Some African leaders say the continent will benefit from increasing its alliance with Brazil, Russia, India, China, and South Africa (BRICS) group because of the many investment opportunities. They spoke during a BRICS Business Breakfast in Nairobi, Kenya, on the sidelines of the ongoing African Development BankContinue Reading

African leaders advocate financial architecture to tackle climate, public finance

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By Lucy Ogalue African Leaders have advocated for a reform of the financial architecture that integrates climate change and public finance to liberate Africa. They spoke on Wednesday at the official opening of the ongoing 2024 African Development Bank (AfDB) Group meetings in Nairobi, Kenya. The News Agency of NigeriaContinue Reading

Experts urge Africa on private sector financing for tertiary education

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By Lucy Ogalue Business Development experts have urged African nations to intensify efforts to attract private-sector financing to enhance tertiary education in order to equip the continent’s youth with competitive skills. The experts spoke at a panel discussion in Nairobi, Kenya, on the sidelines of the 2024 African Development BankContinue Reading