Real Time Financial News Website
Exxon Mobil Corp on Friday signaled that skyrocketing margins from fuel. So as, crude sales could generate a record quarterly profit, according to a securities filing. Energy prices have shot…
It’s not news that the cryptocurrency market is having a very tough year. This is with the market capitalization losing over $2 trillion. Ultimately, losing its trillion-dollar status. Bitcoin, which…
KongaPay, a frontline mobile money platform and a member of the Konga Group, Nigeria’s leading composite e-commerce giant; has signed a landmark deal with Bibimoney, a UK-based industry leader to…
No fewer than 2,084 retirees cannot be on monthly pension payments. And have left the Contributory Pension Scheme in the first quarter of 2022. The National Pension Commission disclosed this…
The Nigerian equities market closed bullish during the week as the All-Share index gained; 0.24% in the week ended 2nd July 2022. This is following the 0.14% decline recorded in…
The number of Nigerians with accounts at regulated institutions such as a bank; credit union, microfinance institution, post office, or mobile money service provider, increased by 16% to 45% in…
Due to crude oil theft, Nigeria lost a staggering $1 billion in revenue in the first quarter of 2022. Therefore, endangering the economy of Africa’s top producer. This disclosed by…
Lekki Gardens Estates Limited has signed the N25bn commercial paper approved for the company by the FMDQ Security Exchange Limited. The signing ceremony was at the company’s head office in…
Amidst rising inflation and a gloomy economic outlook, tech startups across the globe bit the bullet in June. As a result, laid off a total of 15,781 staff in the…
Lagos State Government has paid N42bn accrued pension rights to 11,349 retirees in the state. The Commissioner for Establishments, Training And Pensions, disclosed this during the 95th retirement bond presentation…
Heirs Insurance and Heirs Life Assurance, the insurance subsidiaries of the pan-African investment group. Heirs Holdings, have said they will provide African creatives with $30,000 under the Tony Elumelu Storytellers…
The Nigeria Solidarity Support Fund says Nigeria’s healthcare system is in crisis as it currently receives only 50% of its investment; in the training of health workers, especially doctors. The…
The Cabotage Vessel Financing Fund has risen from $195m to $350m in 2022, representing 79.4 % increase. It will be known that the Federal Government, in 2003; set up the…
The Organisation of Petroleum Exporting Countries (OPEC) will in August decide whether to continue its current measured oil supply. Which is to the global market or set a new quota…
Listed firms are facing higher finance costs as a result of the weakening of the shilling against the dollar. Exposing the risk carried by foreign currency loans to local firms.…
The Central Bank of Nigeria announced banks guaranteed 28,830 loans valued at N3.6 billion to farmers. This is under its Agricultural Credit Guarantee Scheme Fund (ACGSF) from January to October…
The Nigerian National Petroleum Company Limited said it had sold over $1bn worth of natural gas to Portugal this year. It disclosed this during the Nigeria-Portugal Business and Trade Forum,…
The Nigeria Customs Service (NCS) yesterday began collection on carbonated and sweetened drinks as contained in the Finance Act 2020. It has taken off across the country and expect to…
Oil marketers on Thursday warned Nigeria could witness “the mother of all queues” from next week. This is if the Federal Government cannot pay the 12 months bridging claim that…
Shell Group says it has suspended the divestment of its interest in its Nigeria subsidiary-Shell Petroleum Development Company. The IOC in a statement signed by its Managing Director of SPDC…
Stocks fell and the dollar rose on Friday, beginning the second half of the year much as the first one had ende. S&P 500 futures fell 1%. MSCI’s index of…
The Federal Government on Wednesday said it paid N74bn as bridging claims to oil marketer. This is for the transportation of petroleum products across the country in seven months. It…
The Federal Government has signed a deal for the concession of the Onitsha port with the Universal Elysium Consortium. Therefore, stating that the concession will generate over N23 billion in…
Equity trading on the floor of the Nigerian Exchange Limited (NGX) recorded a gain of N5.639 trillion during the half-year ended June 30. As investors continue to increase their buying…
Thursday, 30th June 2022: The exchange rate between the naira and the US dollar closed at N425.05/$1 at the Investors and Exporters (I&E) window, representing the lowest level recorded year-to-date.…
Italy’s state-owned bad loan specialist AMCO had signed an agreement with lender Intesa Sanpaolo (ISP.MI) to purchase a portfolio of non-performing leasing credits with a gross value of around 1.4…
Alphabet Inc’s Google has agreed to pay $90 million to settle a legal fight with app developers. Thi is over the money they earned through creating apps for Android smartphones.…
Italy’s manufacturing sector grew at the slowest pace in two years in June, as firms reported weak demand and increasingly downbeat expectations. The S&P Global Purchasing Managers’ Index (PMI) for…
A sharp fall in new orders weighed on German manufacturing activity in June. This darkens the outlook for Europe’s largest economy, a survey showed on Friday. S&P Global’s final Purchasing…
The head of data at the London Stock Exchange Group (LSEG.L) has stepped down after a year in the job; with the closely-watched integration of Refinitiv still underway. Andrea Remyn…