Real Time Financial News Website
A little-known digital token linked to the Cardano blockchain has just become the third-largest virtual currency in the world as network developers look to ride the boom in decentralized finance.…
China’s oil refining slumped to the lowest level in 14-months as private processors scaled back operations amid a crackdown by authorities. Daily crude processing fell below 14 million barrels a…
The risk-off sentiment from early Monday morning in Asia continued after the release of Chinese data that was lower than anticipated. The data showed the annualized July retail sales at…
Whitfield, also the president of the Association of African Automotive Manufacturers (AAAM), in a statement, lamented that fewer vehicles were owned in Africa than anywhere. According to him, while Africa…
Oil prices fell by about 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that…
The Federal Inland Revenue Service confirmed that companies with untraceable addresses evaded taxes to the tune of N17.69bn, according to a report by the Office of the Auditor General of…
Second, The consequence of oil spills and environmental damages are reflected in the wreckage and mangled landscape and tortured lives and serated psyches. In terms of the impact of oil…
Worried by the rising evasion of import duties and tariffs by some Ministries, Departments, and Agencies (MDAs) who collude with contractors, the Nigeria Customs Service (NCS) high command has since…
Nigerian President Muhammadu Buhari signed into law long-awaited legislation to overhaul the oil and gas industry in Africa’s biggest crude producer. Buhari assented to the so-called Petroleum Industry Bill on…
Nigerian stocks jumped 0.08 per cent on Friday, taking the benchmark index to 39,522.34 basis points, a height last reached on May 4 as an investment blitz on the shares…
As prevailing economic challenges undermine investments and disposable incomes, local manufacturers have expressed concerns about the loss of investments to neighbouring African countries. The Senior Partner, Delloite Nigeria, Mr. Bernard…
The British pound slipped in early trading on Monday, hurt by a fall in risk appetite globally, after economic data from the United States and China prompted concerns about their…
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International Monetary Fund has said. From 2016, Nigeria’s foreign liabilities jumped…
The Central Bank of Nigeria has said that Nigeria’s inflation rate may drop to single digit in 2022. The apex bank’s Director of Monetary Policy Department, Hassan Mahmud, said this…
A member of the President’s Economic Advisory Council and Managing Director, Financial Advisory Council, Mr. Bismarck Rewane, in this interview provides insights into steps the federal government can take to…
The foreign exchange reserves in Nigeria have started declining again after rising to $33.59bn, the highest level in more than a month. The forex reserves, which fell to a record…
From a distance, Jacqueline Suowari’s larger-than-life portraits look like monochromatic photographs overlaid with colorful graphics. Upon closer inspection, you see these dramatic images are the culmination of thousands of tiny…
Last week, the total value of transactions recorded at the Investors and Exporters (I&E) window of the foreign exchange (FX) market in Nigeria increased by 0.5 per cent or $3.6…
Finnish development finance institution Finnfund is backing Bandwidth and Cloud Services Group (BCS), a telecom infrastructure provider that operates in several African countries, with debt capital of $12 million. BCS…
Yield Uganda Investment Fund, an agribusiness impact vehicle managed by Pearl Capital Partners, has committed $2.5 million to Pura Organic Agro Tech Ltd, a Ugandan company set up by an…
Egypt-based ecommerce startup, Brimore, is preparing to raise more funding to strengthen its business in Egypt after receiving a $3.5 million investment in May 2020. The International Finance Corporation (IFC)…
Moove, Nigerian based mobility fintech startup raises $23m Series A funding to help it expand swiftly. Founded in 2019 by Ladi Delano and Jide Odunsi, who have built three other…
ULIMI Fund, a private equity fund managed by Old Mutual Investment Group Malawi, has made an undisclosed amount of investment in Gala Agriculture Company, a macadamia plantation in Malawi. Gala…
Schneider Electric, weekend, disclosed that investment in the data centre would hit $174 billion by 2023 following increasing demand. The company, which called for more investment, stated that the disruptive…
Despite the gender gap and social challenges, entrepreneurial women across the world and in the Middle East and Africa (MEA) are leading the way in tapping into the power of…
LAGOS – Investors in the nation’s economy have called on the Federal Government to consider reform for key non-oil sectors of the economy to intentionally ensure price stability and economic…
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International Monetary Fund has said. From 2016, Nigeria’s foreign liabilities jumped…
Company income tax (CIT) realised in the second quarter (Q2) stood at N1.46 billion, up from N0.39 billion realised the same period last year. This translates to a 273 per…
Securities dealers in Nigeria have concluded arrangements to review strategies to reactivate the nation’s economic growth and development at a forum scheduled to bring top- level financial experts and government…
THE equities listed on the Nigerian Exchange Limited saw its their market capitalisation rise by N370.75bn last week amid bullish sentiment. The NGX All-Share Index appreciated by 1.83 per cent…