The Federal Government of Nigeria is seeking to place a windfall tax on the profits from all foreign exchange transactions of banks in 2023 financial year.
Escalating tensions between the United States and Iran have significantly heightened instability in the Middle East in late February and early March 2026.
The current war involving Iran, Israel, and the U.S. has triggered a series of economic shockwaves across Africa.
When the Strait of Hormuz effectively closed in late February 2026, the global energy system experienced its most significant single shock since Russia’s invasion of Ukraine. The conflict suspended roughly a fifth of global crude oil and natural gas supply.
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