Real Time Financial News Website
Nigeria yearly imports roughly 2.4 million metric tonnes of frozen fish.Which is putting a strain on its foreign exchange reserves. Nigeria’s annual fish demand was 3.6 million metric tonnes, but…
The Shell Petroleum Development Company (SPDC) has asked the Federal High Court in Yenagoa to stay. Proceeding in the N700 billion oil spill compensation suit filed by members of Aghoro…
Investors’ shares in the Nigerian stock market rose by N158bn last week as 29 firms recorded price appreciation. The All-Share Index of the Nigerian Exchange Limited and market capitalisation increased…
Fitch Ratings said it has decided to withdraw its rating on embattled property developer China Evergrande Group (3333.HK) and two of its subsidiaries as the firms have stopped participating in…
Sterling Bank Plc has launched a new and innovative digital product, known as the Imperium Platform. To connect consumers and providers of renewable energy (solar solutions) as a viable solution…
In anticipation of a report on private payrolls, U.S. stock index futures increased as the price of oil declined. Brent crude prices fell by more than 2% before a meeting…
The exchange rate between the naira and the US dollar closed at N421.25/$1 at the Investors and Exporters (I&E) window.Naira recorded a marginal gain against the USD on Friday, closing…
Russian aluminium producer Rusal (RUAL.MM) has sued the global miner Rio Tinto (RIO.AX), seeking to win back access to its 20% share of the alumina produced at a jointly owned…
Apple Inc (AAPL.O) on Monday announced it would more deeply integrate its software into the core driving systems of cars. While the iPhone maker rolled out new features for payments…
Amid increasing calls for diversification of the economy, Nigeria’s crude oil exports jumped to N5.6trn. This is the first quarter of 2022, reflects a nearly 200% increase when compared to…
President Muhammadu Buhari visited Spain where he met the Spanish President, Pedro Sanchez, King of Spain. He gave a speech at the headquarters of the World Tourism Organization, WTO, in…
Flour Mills of Nigeria (FMN) Plc has proposed a total dividend of N8.8 billion for the 2022 financial year. As against N6.8 billion recorded in 2021. The dividend represents N2.15…
Taser-maker Axon Enterprise Inc (AXON.O) says it’s halting work on a project to equip drones with stun guns to combat mass shootings. A prospect that a member of its AI…
According to reports, the Nigeria Customs Service’s Western Marine Command confiscated 828 bags of imported parboiled rice. This occured between the Benin Republic and Lagos State during February and March…
In yesterday’s trading session, Wapco (LaFarge) Plc share price depreciated by 1.07%. This too close at N27.70 per share, taking the market capitalization to N446.19 billion.The decline in share prices…
Dollar exchanged at N603 (average) at Lagos and Abuja parallel markets. Indicating a worsening liquidity crisis in the foreign exchange market of Africa’s biggest oil producer. At the Importers and…
Dangote Cement Plc has disclosed that fuel and power consumed by the company increased by 34.4%. That is, to N196.634 billion in 2021 and from N146.342 billion in 2020.The Group…
According to the World Bank, Nigeria’s government spends more on gasoline subsidies than on social security, health care, and education. It therefore said that removing fuel subsidy would help the…
Aluminium Extrusion Plc has announced a final dividend payment of N0.05 kobo per 50 kobo. This dividend payment will be subject to shareholders’ approval at the Annual General Meeting (AGM)…
Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it. And spurring a sharp fall in crypto markets sparked by crypto lender Celsius freezing customer…
The CBN has announced that it has established a comprehensive Non-Oil Export Optimisation framework. Mr Osita Nwanisobi, Director, CBN Corporate Communications Department, disclosed this in a statement seen by the…
Binance CEO Changpeng Zhao has stated that potential crypto winter is good for business. When asked how Binance would fare during the current crypto winter, following reports of recruitment freezes…
The cost of diesel per litre is expected to increase from N800 to N1,500 within the next two weeks. This was disclosed by the Natural Oil and Gas Suppliers Association…
Bill Gates, a co-founder of Microsoft, claimed that the greater fool hypothesis underlies investments in cryptocurrencies like nonfungible tokens (NFTs). At a climate conference, a billionaire speaker expressed skepticism about…
The world’s wealthiest woman is now $2.5 billion richer than Mark Zuckerberg, the founder of Facebook. According to the Bloomberg billionaire index, Francoise Bettencourt Meyers has a net worth of…
Airbus Helicopters Company has signed a partnership deal with EAN Aviation Limited. Making the Nigerian company a distributor for Airbus Helicopters in West Africa. According to a statement, the strategic…
Many Nigerian Bitcoin traders are lamenting their losses because of the continued drop in the market value of Bitcoin. Since the turn of the year, BTC has lost 52.84% of…
According to the CEO of BaoBab Nigeria, the company provides loans of roughly N40 billion to its clients in order to help them expand. He spoke during a customers’ forum…
The total value of domestic transactions on the Nigerian Exchange Limited (NGX) for the first four months of 2022 was N742.09 billion. This is as against N156.09 billion, which was…
The exchange rate between the naira and the US dollar closed at N419.75/$1 at the Investors and Exporters window. The Naira depreciated further at N419.75/$1 from the N419.5/$1 recorded in…