Real Time Financial News Website
The Board of Directors of the African Development Fund (ADF) has approved a technical assistance grant of $2 million to fund research. That will contribute to electricity reforms across members…
The Chief Executive Officer, The Centre for the Promotion of Private Enterprise , Dr. Muda Yusuf, said there should be policies and legislation of interesting large enterprises and foreign companies…
African Export-Import Bank has signed a financing deal with UTM Offshore Limited. This deal was signed at its 29th Annual Meetings in Cairo, Egypt recently. The bank will partly finance…
The regulator of the insurance industry, the National Insurance Commission, has cancelled the certificates of registration of Niger Insurance Plc and Standard Alliance Insurance Plc. However, In a statement issued…
In April 2022, the Central African Republic became the first African country to adopt Bitcoin as a legal tender. The nation’s parliament recognised Bitcoin and other forms of cryptocurrency as…
Sterling Alternative Finance has launched an ethical investment platform called Altinvest. During the launch in Lagos, Sterling Alternative Finance, which is the non-interest arm of Sterling Bank. Disclosed that AltInvest…
Revenue allocation to federal, state and local governments has declined from a peak of N970.57bn in July 2021 to N680.783bn in May 2022. This representing a 30 per cent reduction…
Revenues accruable to Nigeria from the sale of crude oil crashed by about N500.6bn between January and May this year. Findings from various oil and gas, as well as statistical…
The Federal Government through the Federal Executive Council (FEC) has approved reforms to boost Nigeria’s non-oil revenue; to N3.8 trillion and oil revenue to N160 billion annually. This was presented…
The NGX closed on a flat note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 0.3 basis points. The NGX ASI closed at 51,802.48 points to…
The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that rising inflation; among other challenges, are compounding naira volatility. In a statement, Gwadabe said…
Italy’s De Nora family is relieved that the electrode manufacturer made it onto the Milan Stock Exchange. After previous attempts to list businesses thwarted by external crises.” At the beginning…
In a bid to boost the deep blue project, the Federal Government of Nigeria has signed a $2.78m exchange of note agreement with; the Japanese government for an economic and…
Unity Bank has said it will commence the eight edition of its flagship Entrepreneurial Development Initiative; Corpreneurship Challenge across 10 locations in Nigeria. With new entrance in Delta and Rivers…
Asian shares were ending a rough quarter in a sombre mood. Amid fears central banks’ cure for inflation will end up sickening the global economy. It is proving to be…
More than 20% of Toshiba Corp (6502.T) shareholders voted against a dissident external director and two board directors from activist hedge fund investors. Such a level of opposition to company-backed…
Russia’s economy shrank by 4.3% in May year on year after falling by a revised 2.8% in April; the economy ministry said on Thursday. In January through May, the economic…
French inflation climbed further from the previous month to a record high of 6.5%, according to official preliminary figures; adding headwinds to the euro zone’s second-biggest economy. The INSEE statistics…
Gartner forecast global mobile phone sales to fall 7.1% this year, revising its earlier estimate of a growth of 2.2%, citing inflation; Russia’s invasion of Ukraine and lockdowns in China.…
European Union negotiators on Wednesday reached a provisional agreement on anti-money laundering rules for cryptocurrencies that would spur crypto firms to check their customers’ identities; in the latest regulatory tightening…
World shares rose on and it pinned the dollar near five-week lows on hopes of an eventual slowdown in U.S. monetary tightening following sharp interest rate hikes in June and…
The Security and Exchange Commission (SEC) has stated that the commission is working to ensure it reduces the level of unclaimed dividends to zero. This effective in the Nigeria financial…
Speaking at the National Economic Dialogue on ‘Critical Challenges Confronting the Nigerian Economy’ organized by the Nigerian Economic Summit Group (NESG) in Abuja. Resident Representative of IMF, Mr Ari Aisen…
The Central Bank of Nigeria on Tuesday raised the interest rate to 13% for the first time in two years. The interest rate was raised from 11.% to 13.5%. Thereafter,…
The global body of mobile network operators, GSM Association (GSMA), has said that online service providers such as Google, Facebook (Meta), and Netflix, among others. Currently, they are generating more…
Telecommunications companies’ voice revenue could jump by at least N442.57bn to N1.55tn in a year. If the price floor of calls raised by the operators is from N6.4 to N8.95.…
Oil prices fell on Wednesday after rising in the previous three sessions, but it a limited loss on the view that global supply tightness will continue. Limited room for major…
Stocks fell across Asia on Wednesday morning, extending overnight losses on Wall Street amid concerns over recession, inflation and high oil prices. Which also boosted the safe-haven dollar. Japan’s Nikkei…
The amount spent on petrol subsidy monthly has been depleting the revenues accruable to the Federation Account. Thus limiting the funds being shared by the three tiers of government. It…
The African Export-Import Bank has created a payment solution platform, the Pan-African Payment and Settlement System. This is to facilitate instant cross-border payments in local African currencies. They expect this…