Real Time Financial News Website
The Central Bank of Nigeria and the Securities and Exchange Commission have sanctioned five major banks for committing over 20 various infractions, including the violation of foreign exchange market and…
The 650,000bpd Dangote Petroleum Refinery, Nigerian National Petroleum Corporation (NNPC) and other modular refineries are expected to be the major drivers of Nigeria’s demand for petroleum products, which is projected…
The House of Representatives’ Committee on Finance has vowed to block allocation to Nigerian Sovereign Investment Authority if it fails to present its 2022 budget proposal to the National Assembly…
Tesla Inc is recalling nearly 12,000 U.S. vehicles sold since 2017 because a communication error may cause a false forward-collision warning or unexpected activation of the emergency brakes, the National…
Elon Musk is now worth more than $300 billion, and he’s apparently ready to start spending. The Tesla and SpaceX CEO — whose net worth has ballooned by more than…
Apple has cut back production of iPad tablets to allocate more components to the iPhone 13, a sign the global chip supply crunch is hitting Apple harder than previously indicated,…
Dangote Cement Plc, the largest Cement producer with nearly 48.6Mta capacity across Africa, published nine-month results, showing a strong 34.2 percent and 49.1 percent year-on-year growth in revenue and profit…
International Breweries recorded a revenue growth of 32.1% to N46.43 billion in the third quarter of 2021. This is contained in its Q3 2021 financial report, released on the website…
Electric vehicle start-up Rivian Automotive is targeting a market valuation of as much as $54.6 billion in its upcoming initial public offering, according to its amended prospectus filed Monday. The…
The Chief Executive Officer of Bitt Inc., Brian Popelka, has said a phone application for people without bank accounts will be rolling out soon. He said the present version of…
The federal government, through the National Atomic Energy Commission (NAEC), has underscored the need to ensure the reduction of insider abuse of its nuclear assets, saying that aside the deployment…
Facebook has announced the launch of the 2021 edition of a digital literacy programme aimed at equipping young people and the general public with the skills needed to navigate digital…
The volume of imports into Nigeria through its neighbor, Benin Republic, has continued on a downward slide through July and October 2021, falling by as much as 95 percent due…
Fiscal Responsibility Commission has vowed to engage the services of the Independent Corrupt Practices and Other Related Offences Commission and the Economic and Financial Crimes Commission to deal with banks…
Power generation in Nigeria dropped from a peak of 4,224.9MW on Sunday to 3,844.3MW by 6am on Monday, data obtained from the Federal Ministry of Power show. Coincidentally, November 1,…
The Securities and Exchange Commission (SEC) has urged operators to create innovative financial products that would support businesses, boost market liquidity and enable the market to play its role of…
The lingering shortage of foreign exchange in Nigeria has forced the naira to crash against the United States dollar on the air ticket pricing template of the International Air Transport…
The equities market resumed trading for the month of November on a downturn note yesterday, as market capitalisation declined by N32 billion, following profit taking by investors. Market activities were…
Transnational Corporation of Nigeria Plc has said its profit before tax rose by 671 per cent in the third quarter ended September 30, 2021. The firm disclosed this in its…
Tesla CEO Elon Musk said on Monday night that his electric vehicle company has yet to sign a contract with rental car company Hertz. The tweet from Musk seemingly contradicted…
TikTok owner ByteDance’s finance chief will step down to focus on his role as CEO of the short video app, according to an internal memo obtained by CNBC. Shou Zi…
The Canadian dollar barely moved against its U.S. counterpart on Monday as data showed speculators turning bullish on the currency for the first time in two months and attention turned…
The spate of security crises, a tough business climate, and policy inconsistency are among the factors that cut Nigeria’s Foreign Direct Investment (FDI) to $875 million in the second quarter…
Oil fell as pressure mounted on OPEC+ to boost production when it meets this week and China released reserves of diesel and gasoline. Global benchmark Brent lost 0.6% in early…
Oil prices fell on Monday after China said it released reserves of gasoline and diesel to boost supply, while investors unwound long positions ahead of an OPEC+ meeting on Nov.…
Manufacturers have lamented the impact of foreign exchange (forex) crisis on importing raw materials. Speaking during the tour of Hayat Kimya Nigeria factory in Agbara, Ogun State, its Sales Director,…
The volatility of the dollar in the forex market is taking its toll on micro, small and medium enterprises (MSMEs), especially those that source for raw materials abroad, LEADERSHIP learnt.…
Roblox restored its services Sunday following a major outage that lasted for three days. Roblox, an online platform which lets users play and create games, began experiencing issues at around…
The Central Bank of Nigeria has commenced the 100 for 100 Policy on Production and Productivity with the unveiling of an operational framework to guide interested companies in participating in…
China’s yuan steadied against the dollar on Monday after posting it biggest monthly rise in five in October, as investors largely stood sidelined ahead of the U.S. Federal Reserve’s policy…