Emele Onu

Nigeria's Guaranty Trust Holding Co. raised 209 billion naira ($136 million) selling shares locally, completing the first phase of a recapitalization plan to meet new industry rules.

(Bloomberg) -- Africa Finance Corporation is working on a potential synthetic asset-backed securitization, as the infrastructure lender seeks to boost its capacity to fund projects from railways to renewable power plants.

A year after an eyewatering slide against the dollar, the naira is enjoying a rare run of stability and analysts expect it to last.

Nigeria's battered currency has lost 70% against the greenback since foreign exchange controls were relaxed in 2023, including a steep depreciation 12 months ago.

The zones were set up to boost exports but companies also use them to sell into the domestic market at the expense of local competitors.

New rules intended to simplify Nigeria's tax system are set to take effect in July, according to the committee charged with the reforms.

Africa’s biggest crude producer Nigeria has emerged from a years-long output slump due to improved security, creating a quandary for the government.

Nigerian Central Bank Governor Olayemi Cardoso said exchange-rate reforms that have made the naira more competitive are likely to lure investors.

The CEO of Yellow Card Financial Inc., a pan-African focused digital assets exchange, says he has received increased interest from traditional banks and expects regulators to act quicker on establishing rules for the sector following the inauguration of crypto-friendly US President Donald Trump.

‘With the US moving this way, I think that you'll see a lot more speed from various governments around Africa in terms of getting to a point regulatory clarity,' Chief Executive Officer Chris Maurice said.