Real Time Financial News Website
The World Bank has stated that Nigeria’s external reserves expect to decline. As a result, the Central Bank of Nigeria (CBN) expect it to clear $1.7 billion worth of FX…
Investors lost N767bn at the end of trading on the floor of the Nigerian Exchange Limited last week. The market was open for four trading days last week as the…
The World Bank has said that Nigerian states will likely lose N18.8bn in oil and gas revenues in 2022. As worsening revenue collection at the federation level increases budgetary pressures…
The Federal Government has signed a tripartite agreement with the World Bank and the French Development Agency. This is to commit an envelope to the tune of $575m for the…
The National Bureau of Statistics data says that in the past 12 months. The average airfare paid by passengers on specified routes for a single journey has increased by 52%.…
Fuel scarcity has worsened across Lagos, Ogun States, as filling stations now sell Premium Motor Spirit (PMS); popularly known as petrol, at N185 per litre or more. What they are…
The Federal Government charged all parties Nigeria, Niger and Algeria involved in the construction of the $13bn Trans-Saharan Gas Pipeline. This is to fast-track measures for the completion of the…
Fuel queues hit major cities of Lagos, Abuja and Ogun on Monday, forcing motorists to spend hours at filling stations. In Lagos and Ogun states, The PUNCH witnessed long queues…
Nigerian manufacturers reduced their investments in the economy by 61% between 2018 and 2021. This from economic reviews of the Manufacturers Association of Nigeria, MAN. The investment made by manufacturers…
The rouble jumped on Wednesday to its strongest mark in seven years against the dollar and euro. Supported by capital controls, a favourable upcoming tax period and Russia’s trade surplus.…
Bauchi State government says that it has removed no fewer than 6,418 ghost workers from its payroll. Since the inception of the Bala Mohammed administration in 2019. The government said…
Nigeria’s debt servicing bill has increased by 109% to N896.56bn, findings. As a result, the country has also spent N3.83tn on debt servicing payments in 15 months, according to data…
MarketAxess, Tradeweb and Bloomberg said o they were exploring a single price feed for corporate and government bond. The EU plans to amend its securities to require a single price…
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month. The highest rate out of the Group of Seven countries and underlining the severity…
About 70% of the UK employees will get 2,000 pounds($2,458) from British aviation engine manufacturer Rolls-Royce Holdings. To help them with high living expenses. Britain’s economy initially rebounded strongly from…
The International Air Transport Association (IATA) has said that Nigerian airlines and others across Africa will lose $700 million. This might happen in 2022 due to a combination of the…
Prestige Assurance Plc. has projected to achieve N10.500 billion gross premium written for the third quarter ending September 2022. The insurance firm also projected N1.520 billion as profit. AXA-Mansard’s projection…
The French spirits industry faces a tough year due to geopolitical constraints, soaring inflation, and COVID-19 restrictions in China. After-sales staged a partial recovery in 2021, industry group Federation Francaise…
Sales of luxury goods will rise at least 5% this year as shoppers in the United States and Europe continue to snap up high-end watches, jewelry, and shoes. This despite…
Elon Musk, CEO of Tesla (TSLA.O) says a 10% cut in salaried staff at the electric car maker will happen over three months. As the world’s richest man predicted, a…
The cost of purchasing a 12.5kg cylinder of household cooking gas in Nigeria has increased from N7,000 in September 2021 to N9,400 as of May 31, 2022. A cursory look…
AIICO Insurance Plc has declared a dividend of 2 kobos per share amounting to N732 million. This is regarding and out of the profit after taxation for the year ended…
European Union legislation targeting foreign state-backed buyers of European companies was prompted by fears of a Chinese buying spree. This may be impossible to comply with the American Chamber of…
European stocks made slim gains on Wednesday, with the dollar strengthening as investors fretted over soaring inflation. And also the hit on global growth from looming interest rate rises. Europe’s…
Wema Bank has said that it will ensure data confidentiality of its customers. The bank said, “We implore members of the public that, as a financial institution. Wema Bank takes…
Revenue collection by the 11 distribution companies increased by 47% to N757bn in 2021. The Association of Nigerian Electricity Distributors’ 2021 report on Commercial Key Performance Indicator. For its members…
To ease the increased oil costs as a result of Russia’s conflict with Ukraine, South Africa wants to extend its fuel subsidy for another two months. To make this happen,…
Cardano has also seen gains in the last seven days, with its price rising by 14%. As a result of its recent increases, ADA has surpassed both Ripple (XRP) and…
German retail sales fell by more than expected in April as consumers feel the pinch of higher prices. Especially for food, and retailers face supply problems from the China lockdowns.…
World Bank economists, Jonathan Lain and Jakob Engel, have said that rising inflation, persistent population growth, the COVID-19 pandemic, and the war in Ukraine are threatening Nigeria’s poverty reduction aspiration.…