Taking a resolute step to protect consumers, the Federal Government has cracked down on illegal loan apps, delisting a total of 37 of these unscrupulous platforms. This development signifies the government’s commitment to safeguard its citizens on the significant increase in the number of fully approved loan apps, which has now grown to 164 from […]
Debt-for-Nature swaps to finance Climate Action In Africa
At the event, top African experts call for more innovation, partnerships and government reforms to unlock billions in climate finance. With Africa requiring over $300 billion annually for climate adaptation, policymakers and government officials meeting at a high-level event on the sidelines of the Africa Climate Summit in Nairobi, have called for the implementation of […]
Ahead of COP28: Africa Still Lagging Behind in Climate Finance Inflow
Climate change is increasingly becoming a subject that can no longer be ignored. More than ever before, the world is feeling its impact and in a more localized context, Nigeria has experienced some of the worst effects of climate change such as heavy flooding which has translated to the loss of lives, destruction of public infrastructure […]
CBN Reduces Number of BDC operators from 5689 TO 2991
LIDA Network had conducted an investigation regarding how Bureau De Change operators in Nigeria had formed a cartel under the watch of the Central Bank of Nigeria. LIDA Network can now confirm that a previously inexistent link on the homepage of CBN’s website now shows that the CBN has taken the necessary action in cleaning […]
WATER NIGHTMARE CLAIM LIVES IN ZAMFARA STATE AS STATE DITHERS OVER N100 Million WATER PROJECT
The people of Zamfara State are counting their losses in millions of Naira, and dozens of deaths after the mysterious disappearance of cash meant for a life-saving water supply project. The money allocated by the government to alleviate water problems in the Northwestern Nigerian state cannot be accounted for, five years after the project was […]
LEKKI DEEP SEA PORT PROMOTES AFCFTA GAINS BUT LOCAL COMMUNITY SEEK SHARED PROSPERITY AND ENVIRONMENTAL PROTECTION
The Lekki Deep Sea Port holds the promise to position Nigeria for the big gains of the AFCFTA, competitive transshipment, and status upgrade as the maritime hub of West Africa, but the neighboring local communities also want a share of this prosperity and protection against any adverse sustainability and human rights issues following the development. […]
NIGERIA’S GROWING FX CARTEL UNDER CBN’S WATCH
Musa, a Bureau De Change (BDC) operator, bailed out his elder brother after operatives of the Economic and Financial Crimes Commission (EFCC) raided a popular BDC hub in Zone 4, Abuja. He says BDC’s are filling the foreign exchange demand of citizens which CBN has failed to process fast enough. During my conversation with Musa, […]