Real Time Financial News Website
Bboxx, a manufacturer and distributor of plug-and-play solar systems with a focus on Africa, and its partner EDF, a world authority on low-carbon energy sources, have obtained a loan from…
Chief executive officer of American Business Council (ABC) Margaret Olele has said the data protection bill before the National Assembly will foster innovations and energize Nigeria’s economic growth if it…
The Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL), announced that $1. 4 billion in financing has been secured to pay for the joint venture’s infill drilling program…
The final composite S&P Global Purchasing Managers’ Index (PMI) for the euro zone, which is regarded as a reliable indicator of economic health, increased from October’s 23-month low of 47.…
The federal government plans to issue new green bond in 2023 as government explores widely diversified, alternative funding sources to finance its N10.78 trillion budget deficit. The government had raised…
Oikocredit has teamed up with the Facility for Energy Inclusion (FEI) and AfricaGoGreen (AGG), two funds run by the Lion’s Head Group, to invest US$ 7 million in a US$…
South African early-stage venture capital firm 4Di Capital has announced the second closing of its new US$25 million seed fund – created in partnership with DotExe Ventures in Mauritius –…
According to Deputy Finance Minister Ahmed Kouchock, Egypt plans to issue its first panda bonds by the end of this fiscal year. At a gathering at the American University in…
Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between them last month. The U.S. Federal Reserve, the Bank of…
Ghana will begin trading domestic debt, according to its finance minister Ken Ofori-Atta, who expressed optimism that the action will assist restore macroeconomic stability and put an end to the…
Britain’s economy is on course to shrink 0. 4% in 2023 as inflation remains high and companies put investment on hold, with gloomy implications for longer-term growth, the Confederation of…
Nigeria currently has a competitive advantage to become the global talent factory in the tech sector with the capacity to earn over $40bn annually.” Abdullahi observed that there was currently…
In October, there were 214. 34 million active telecommunications subscribers. Since the country’s subscriber base peaked at 207. 58 million in October 2020, months before the SIM-NIN linkage, this is…
Foreign remittance into Nigeria is estimated to hit $20. 9 billion by the end of 2022, compared to $19. 5 billion in remittances inflow recorded in 2021. This represents a…
Minister of Communications and Digital Economy, Ali Pantami, said the federal government has generated over $500 million from the 5G spectrum licence auction. Mr Pantami stated this at a news…
The total debts of nine oil-producing states rose from N2.04tn in December 2015 to N3. 35tn as of June 2022, according to sub-national debt reports of the Debt Management Office.…
Deposit Money Banks increased their holdings in Nigerian Treasury Bills by N1. 55 trillion between July 2021 and June 2022 to stand at N2.28 trillion. The increase in banks’ exposure…
The Northern Hydrocarbon Funding Limited has a $1. 4 billion external project finance arrangement, according to the Nigerian National Petroleum Company (NNPC) Limited. The deal, known as Project Panther (under…
The South African president, Cyril Ramaphosa, may be removed from office due to allegations of corruption. The focus of the study was the alleged $580,000 cash theft from Ramaphosa’s farm…
Finance Minister Zainab Ahmed claims that the 2022 finance bill has a provision to tax cryptocurrencies and other digital assets, despite Nigerian laws restricting the use of cryptocurrencies there. The…
According to the Federal Inland Revenue Service (FIRS), until December 31, 2022, all unpaid interest and penalties imposed on established tax liabilities by the TaxPro Max would be waived once.…
In the first six months of 2022, the Central Bank of Nigeria sold $9.4 billion worth of forex in the foreign exchange market. However, increased foreign exchange interventions by the…
At the end of October 2022, Nigeria’s total pension fund assets reached a record high of N14.59 trillion, up 1.14% (or N164.4 billion) from the N14.42 trillion totaled the previous…
The Research and Development of Satellite Internet Broadband Project, which would bring in N28 billion over a 15-year period, has been granted a concession by the Nigerian government. Additionally, the…
The House of Representatives has authorized the payment of a variety of sums totaling N308. 458 billion to 194 companies that submitted claims under the Federal Government’s promissory notes program.…
Nigerians would no longer be able to register businesses without the National Identification Number (NIN), according to the federal government. At the monthly reform seminar hosted by the Bureau of…
Nigerian National Petroleum Company Ltd, the country’s state oil company, flared 100% of its gas output in September and received no money from it during this time, despite the federal…
Due to a decline in food and fuel prices as well as rate increases to control the cost of living, inflation has slowed down for the first time in nine…
As part of the 13% backlog in oil derivation payments to oil-producing states, the Federal Government has paid out a total of N1.98 trillion. Despite some of the funds being…
The third quarter that ended on September 30, 2022, saw a 19% increase in Gross Written Premium for AXA Mansard Insurance Plc, a subsidiary of the AXA Group and a…