The Dawn Project Celebrates Environmental Advocacy with 2024 Award Ceremony

Over 25 winners and student ambassadors were celebrated at the prestigious 2024 The Dawn Project Competition Award and Prize Giving Ceremony, recently held at the British Deputy High Commission in Lagos. The event recognized exceptional student contributions in art and awarded the first-ever School Ambassador with The Dawn Project’s Badges of Recognition.

Nike to Wind Down RTFKT, Its Digital Fashion Brand, by January 2025

Nike is set to shut down RTFKT, the Web3-focused sneaker brand it acquired in 2021, with plans to wind down operations by January 2025. The brand will transition to an archived website to showcase its previous creations.

Nigeria: Banks Set to Implement New Policy on Inactive Savings Accounts

Nigerian deposit money banks (DMBs) have started informing customers about a new policy regarding inactive savings accounts, following a directive from the Central Bank of Nigeria (CBN). 

Africa Finance Corporation Leads Historic €2 Billion Loan Syndication for Nigeria’s Bank of Industry

Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, has successfully led the syndication of a groundbreaking €2 billion facility for Nigeria’s Bank of Industry (BOI). As Global Coordinator, Lead Co-Arranger, Underwriter, Bookrunner, and Guarantor, AFC spearheaded the largest capital raise in BOI’s history, marking a significant milestone in Africa’s developmental finance landscape.

Stellantis CEO Carlos Tavares Resigns; Interim Leadership Announced

Stellantis N.V. has announced the immediate resignation of Chief Executive Officer Carlos Tavares, as accepted by the company’s Board of Directors, chaired by John Elkann.

UK Businesses File $1.27 Billion Lawsuit Against Microsoft

Microsoft is facing a €1 billion ($1.27 billion) collective lawsuit from UK businesses, accusing the tech giant of overcharging for access to its products.

MTN Group Welcomes Sandile Gwala as Independent Non-Executive Director

MTN Group has appointed Sandile Gwala as an independent non-executive director, with his tenure set to begin on January 1.

ICIEC and MEXIM Forge Partnership to Expand Global Trade Credit Takaful

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer under the Islamic Development Bank (IsDB) Group, has signed a strategic Quota Share Retakaful Agreement with Export-Import Bank of Malaysia Berhad (MEXIM). This partnership aims to enhance the provision of Export Trade Credit Risk Takaful services globally.

Afreximbank signs a $100 million Trade Finance Facility with JE Energy for the execution of Guyana crude oil export contracts

African Export-Import Bank (Afreximbank) on November 5 in Cape Town, South Africa, signed an agreement for a US$ 100-million Revolving Trade Finance Facility in favour of oil trader JE Energy Limited to support its contract implementation in the Republic of Guyana.

Benson Ogundeji Officially Becomes New MD/CEO of Greenwich Merchant Bank

Greenwich Merchant Bank Limited has appointed Mr. Benson Ogundeji as its Managing Director and Chief Executive Officer, following approval from the Central Bank of Nigeria (CBN).

ALX Startup Accelerator Hosts Inspiring Pitch Session Showcasing Innovative Solutions

ALX, Africa’s leading startup and career accelerator, recently hosted a dynamic online pitch session, spotlighting 10 groundbreaking startups from its ecosystem. This event reinforced ALX's mission to address global challenges through entrepreneurship by providing a platform for startups to present their innovative solutions and business models.

CBN's New ATM Cash Rules: Will Penalties Solve Nigeria's Banking Woes?

The Central Bank of Nigeria (CBN) is taking a firm stance to address the persistent cash shortages that have disrupted lives and businesses across the country. Starting December 1, 2024, commercial banks failing to provide adequate cash at ATMs and branches will face strict penalties. The directive, announced by CBN Governor Olayemi Cardoso at the 2024 Annual Bankers Dinner in Lagos, signals a renewed push to stabilize Nigeria’s banking system and restore public trust.

9PSB Celebrates 4th Anniversary with Financial Literacy Campaign and Donation of 10,000 Books

To mark its 4th anniversary, 9 Payment Service Bank (9PSB), Nigeria's leading digital payment service provider, has distributed 10,000 branded exercise books to students across various regions in the country. Beneficiary schools include Crown Jewel College, Lagos; LEA Primary School, Abuja; Kano Capital School, Kano; and Shokwari Junior Secondary School, Maiduguri, Borno State.

MTN Extends CEO Ralph Mupita’s Tenure Until 2030

MTN Group’s board of directors has extended CEO Ralph Mupita’s contract by five years, ensuring his leadership until August 2030. Initially set to expire in September 2024, the renewed agreement reinforces Mupita's role during a period of global and regional uncertainties.

Dr. Ngozi Okonjo-Iweala Reappointed for Second Term as WTO Director-General

The World Trade Organization (WTO) has reappointed Dr. Ngozi Okonjo-Iweala as Director-General for a second four-year term, set to begin on September 1, 2025. She continues to make history as the first woman and first African to lead the global trade body.