Author: Newsroom Operations

Nigeria’s New Cash Withdrawal Caps Signal a Stronger Push Toward Cashless Economy

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Nigeria’s New Cash Withdrawal Caps Signal a Stronger Push Toward Cashless Economy

Abuja — The Central Bank of Nigeria has introduced new cash withdrawal limits that will take effect on 1 January 2026, marking one of the most significant shifts in the nation’s cash management policy in recent years. The revised framework limits individual account holders to weekly cash withdrawals of up to six hundred thousand naira, while corporate organisations will be capped at five million naira per week. Withdrawals that exceed these thresholds will attract processing…

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Nigeria Clears $128 Million Gas Debts to Reinforce Power-Supply Chain

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Nigeria Clears $128 Million Gas Debts to Reinforce Power-Supply Chain

Abuja — In a major move aimed at stabilising Nigeria’s troubled electricity sector, the federal government has approved payment of 185 billion naira (approximately USD 128 million) to settle long-standing debts owed to natural gas producers supplying power generation companies (GenCos). The decision, endorsed by the National Economic Council (NEC), chaired by the Vice President, follows a directive from Bola Tinubu to clear legacy arrears that have undermined investment, strained cash flow, and restricted gas…

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South African Consumer Confidence Nears 2025 Peaks This Holiday Season

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South African Consumer Confidence Nears 2025 Peaks This Holiday Season

Consumer confidence in South Africa has climbed to its highest level in 2025, as households and businesses prepare for the holiday season amid signs of easing economic pressure, according to a quarterly survey released Tuesday by First National Bank (FNB) and conducted by the Bureau for Economic Research (BER). The FNB / BER Consumer Confidence Index improved to –9 in the fourth quarter, up from –13 in the previous quarter, marking the strongest reading of…

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African Nations Call for Realistic Energy Transition Amid Climate Finance Gaps

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African Nations Call for Realistic Energy Transition Amid Climate Finance Gaps

Belém, Brazil – As global climate finance talks ramp up at COP30 in Belém, Brazil, African countries are pressing for greater flexibility in energy transition demands — warning that a severe shortfall in funding threatens both climate goals and development priorities. At a high-level gathering under the banner of “Africa at the Forefront of Climate Action”, ministers, regional leaders and development bodies called for a new financing architecture that aligns climate ambitions with the continent’s…

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As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

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As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

Nairobi, Kenya – African economies are entering what analysts describe as a critical juncture, as a wave of withdrawals by foreign banks prompts an urgent reassessment of competitiveness, regulation and financial sector strategy across the continent. Recent years have seen a growing exodus of major global banking institutions from Africa. European and UK-based banks that for decades operated in multiple African markets are now scaling down or completely exiting. According to latest reports, Africa’s overall…

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