African countries pay more to borrow than comparable economies in other regions, and the way their risks are assessed is a major reason, the Director-General of the West African Institute for Financial and Economic Management (WAIFEM), Baba Musa, has said. Speaking at a panel on the Debt Sustainability Framework, credit ratings and Africa’s risk premium, …
The United Kingdom and Nigeria have agreed follow-up actions across eight areas of cooperation, including a three-year programme against organised immigration crime, returns of irregular migrants, extradition and drug trafficking. No funding amounts or numerical targets were disclosed. Senior officials from Nigeria’s Ministry of Foreign Affairs and the UK Home Office co-chaired the annual Migration, …
Shelter Afrique Development Bank (ShafDB) and Vista Group Holding SA (VGH SA) have signed a Memorandum of Understanding (MoU) to channel more long-term capital into affordable housing across West Africa, the two institutions said. The agreement was signed on the sidelines of the IMF-World Bank Group Annual Meetings. Under its terms, the two lenders will …
The Central Bank of Nigeria (CBN) Governor Olayemi Cardoso and senior African financiers met major Asian banks in Bangkok, in talks that organisers say have moved towards a financing deal worth more than $1 billion. Singapore-based Global Markets, which co-convened the closed-door West Africa–Asia Capital Dialogue with the ECOWAS Bank for Investment and Development (EBID), …
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has said Nigeria will pursue improved cross-border payment arrangements with China during a planned visit to Beijing, as both countries seek to deepen financial cooperation and facilitate bilateral trade and investment. Cardoso disclosed this at a briefing following Nigeria’s participation in the 2026 Annual Meetings of …
Former chairman of Fidelity Bank, Mustafa Chike-Obi, has said maintaining Nigeria’s $52 billion to $53 billion foreign reserves does not translate into better living standards for Nigerians and, in fact, costs the country more than $10 billion annually. Chike-Obi disclosed this while taking questions at an episode of Policy Without Politics, a podcast he hosts …
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the federal government will not restore petrol subsidy or return to a multiple exchange rate system, despite rising fuel prices and calls for policy changes. Oyedele spoke on Saturday at a press briefing to debrief a Nigerian journalist on the sidelines of …
Africa Finance Corporation (AFC) has announced the appointment of Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), as Chairman of its Board of Directors, succeeding the immediate-past Chair, Ireti Samuel-Ogbu. Mr Cardoso brings extensive experience spanning international banking, investment management, economic policy and public sector leadership. Since assuming office as Governor of …
Finance minister promises reforms in power, agriculture and regulation as CBN governor says stability is setting the stage for growth Nigeria has unveiled 65 investment opportunities across key sectors to attract domestic and foreign capital, create jobs and accelerate economic growth, as senior officials made the case to global investors on the sidelines of the …
The International Monetary Fund (IMF) has said improvements in inflation suggest a less restrictive monetary policy stance could be appropriate for Nigeria. It added that the Central Bank of Nigeria (CBN) must remain data-driven and explain its decisions clearly to protect its credibility. Jason Wu, Assistant Director in the IMF’s Monetary and Capital Markets Department, …
