Sub-Saharan African nations are at growing risk of debt distress because of heavy borrowing and gaping deficits, despite an overall uptick in economic growth, the International Monetary Fund warned on Tuesday. The sober assessment comes as African countries continue to tap international debt markets and issue record levels of debt in foreign currencies, spurred on […]
Nigerian migrants who survived a deadly sea crossing last year filed a lawsuit against Italy for violating their rights by supporting Libya’s efforts to return them to North Africa, their lawyers said on Tuesday. Seventeen plaintiffs petitioned the European Court of Human Rights last week, Violeta Moreno-Lax, a legal advisor for the Global Legal Action […]
A Nigerian civil rights group launched a legal case on Tuesday aimed at forcing the government to revoke a disputed 2011 oilfield deal at the centre of a string of international corruption investigations. The case, heard at a court in the commercial hub Lagos, relates to the purchase of the offshore OPL 245 oilfield in […]
Nigeria’s authorities have shut down three leading drugs companies after a BBC investigation into addiction to cough syrup containing codeine. The National Agency for Food and Drug Administration and Control (Nafdac) said it shut the firms for failing to fully co-operate with its inspectors. The companies have not yet commented. The BBC investigation showed that […]
The President of the Association of Psychiatrists in Nigeria (APN), Dr Taiwo Sheikh, says that youths account for up to 85 per cent of psychiatric cases in Nigeria, due to drug and substance abuse. Sheikh made the disclosure in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday. According to him, […]
Experts at the ongoing Civil Society Organisation (CSOs) Forum on Monday in Abidjan said that renewable energy remained the best way to consolidate Africa’s industrialisation revolution. The experts spoke on the topic “Bridging the energy access gap for Africa industrialisation: challenges and Opportunities .Mr Augustine Njamnshi, Executive Secretary Bioresources Development and Conservation Programme Cameroon, said […]
The Nigerian Communications Commission (NCC) says active mobile phone lines in the country rose from the 148 million in February to 149 million in March. The NCC stated this in its monthly Subscribers Operator Data posted on its website. It said active mobile lines increased from 147,961,791 in February to 148, 854,338 in March. The […]
Equities market closed today on a negative note, as NSEASI depreciated by -0.11% to close at 41,172.82. basis points as against +0.27% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.66%. Market breadth closed positive as ETERNA led 21 Gainers as against 18 Losers topped by UNITYBNK at the end of today’s session- […]
Nigeria’s securities regulator is preparing for record bond issuance from companies seeking to benefit from lower interest rates and an economy on the mend. The bond bonanza comes as Africa’s biggest oil producer recovers from a 2016 contraction, with the International Monetary Fund predicting an expansion of 2.1 percent this year. It will also mark […]
The African Development Bank (AfDB) has called on various Civil Society Orgainisations (CSOs) working in continent to drive every effort to ensure Africa’s Industrialisation. Mr Celestin Monga, the Bank’s Vice President and Chief Economist made the call at the opening ceremony of the Civil Society Forum on Monday in Abidjan. The Theme of the Forum […]