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JP Morgan to convert Lagos office into full business branch
JP Morgan Chase & Co., an American multinational bank, is strengthening its African expansion by converting its Lagos office into a full-fledged business branch. According to African Intelligence, JP Morgan plans to apply for a merchant banking license from the Central Bank of Nigeria (CBN) in the coming months. The license would enable the bank to diversify its services beyond…
World Bank and Raxio Group to boost Africa’s Digital Infrastructure with new $100 million investment
The International Finance Corporation (IFC), the private investment arm of the World Bank, has announced a $100 million investment in Raxio Group, a data center developer and operator in Africa to support the construction and expansion of data centers in Africa.Africa currently accounts for less than 1% of the world's data center capacity, even though its mobile data usage is…
US slams new trade tariffs on Nigeria, others
U.S. President Donald Trump has declared a standard 10% tariff on all imports into the United States, in addition to more stringent, country-specific reciprocal tariffs targeting nations that levy higher duties on American products.In line with this, Nigerian exports to the U.S. will incur a 14% tariff, in contrast to the 27% tariff that the U.S. government says it faces…
Mali, others impose 0.5% levy on imported goods from ECOWAS
Mali, Burkina Faso, and Niger have introduced a 0.5% levy on goods…
Ripple, Chipper Cash to boost cross border payments in Africa
Ripple, a top crypto-enabled payment solution, has announced a new partnership with…
Nigeria’s money market liquidity hits 2.2 trillion
Liquidity in the Nigerian money market experienced a significant increase of 62.3…
SEC announces new measures to protect investors in Nigeria
The Security and Exchange Commission, SEC, has unveiled new measures to protect…
FIRS partners with Flutterwave to digitise tax collection
Nigeria's tax regulatory body, FIRS, has integrated Flutterwave's new payment technology to…
DMO offers N300 billion in new bond re-opening
The Debt Management Office has announced a new bond offering pegged at…
Dangote may halt petrol supply to Nigeria over failure of new crude swap deal
There are growing concerns over the possible disruption of petrol supply in…
FIRS commits to enhancing tax policy in West Africa
The Federal Revenue Service has set out to strengthen tax policy formulation…
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3 years after, payment system uncertainty plagues AFCFTA deal
The African Continental Free Trade Agreement was brokered by the African Union…
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Ripple, Chipper Cash to boost cross border payments in Africa
Ripple, a top crypto-enabled payment solution, has announced a new partnership with Chipper Cash, to enhance seamless payments across Africa.With this partnership, both payment platforms will facilitate faster, more affordable,…
