Real Time Financial News Website
According to the Manufacturers Association of Nigeria and the Nigeria Employers’ Consultative Association, the Central Bank of Nigeria’s recent rise in the Monetary Policy Rate will exacerbate the impending recession…
The Permanent Secretary of the Federal Ministry of Mines and Steel Development, Dr Oluwatoyin Akinlade, has revealed that the Kano Gold Souk will not only draw international attention to Nigeria’s…
According to the Nigerian Exchange Limited (NGX), total allotments for FGN Savings Bonds increased to N5.06 billion in the first five months of 2023. Jude Chiemeka, Divisional Head, Capital Markets…
The Nigerian National Petroleum Company Limited announced the renewal of the Oil Mining Lease 130 Production Sharing Contract and conversion of the area to a Petroleum Mining Lease in compliance…
The Niger Delta Development Commission has praised the House of Representatives for clearing the commission’s N876 billion budget for the fiscal year 2023. The adoption of the budget, according to…
United Bank for Africa Plc has reported that all of its African businesses are now on solid ground, adding significantly to the group’s profit margin. In particular, the bank’s African…
The shareholders of Access Holdings Plc approved the management’s final dividend payout of N1.30 at the Pan-African banking institution’s inaugural Annual General Meeting (AGM) in Lagos yesterday. The approved payment…
Shareholders of Berger Paints of Nigeria Plc, a maker of paints and allied goods, have approved the payment of N202,876,413 in dividends for the fiscal year 2022. The shareholders approved…
The judgment debts were resolved by the issuance of promissory notes, which will subsequently be evaluated over time for conviction for the federal government or of Nigeria.” President Muhammadu Buhari…
Haitham Al Ghais, Secretary General of the Organization of Petroleum Exporting Countries, has warned that world oil production capacity is declining. In a recent interview with S&P Global Commodity Insights,…
The Central Bank of Nigeria’s Monetary Policy Committee unanimously voted to raise its monetary policy interest rates to 18.5%. The bank’s MPC voted in March to raise the benchmark interest…
Despite the Nigerian Maritime Administration and Safety Agency’s (NIMASA) acquisition of a N50 billion floating dock, Nigerian shipowners have indicated that they spend between $15 million and $20 million per…
Following the Central Bank of Nigeria’s cancellation of licenses for 179 microfinance institutions and four Primary Mortgage institutions, the Nigeria Deposit Insurance Corporation has assured depositors of the closed banks…
Cash shortages created by the Central Bank of Nigeria’s naira redesign policy have driven Nigeria’s GDP growth below worldwide predictions from the World Bank, International Monetary Fund, and African Development…
Nigerians can now request that their commercial banks issue them a debit card that also serves as their National Identity Card at no additional cost above the standard debit card…
The Nigerian National Petroleum Company Ltd has resumed an oil drilling program in Wadi-B in Borno State’s Jere Local Government Area. The NNPC restarted drilling after stopping in Wadi-B in…
AXA Mansard Insurance Plc, a member of the AXA Group and a global insurance and asset management organization, reported a 13% increase in insurance revenues to N19.4 billion in the…
The Central Bank of Nigeria (CBN) has revealed that banking industry lending to the private sector surpassed N44 trillion to N44.1 trillion in April 2023, as the economy recovers following…
Senator Hadi Sirika, Minister of Aviation and Aerospace, launched the first phase of the N2.2 billion General Aviation Terminal extension on Monday. Sirika emphasized during the inauguration that the project…
According to information received from the Central Bank of Nigeria, the country’s external reserves declined by $1.5 billion in four months. The CBN’s most recent statistic on the movement of…
The Central Bank of Nigeria has cancelled the licenses of 179 microfinance banks, four primary mortgage banks, and three financing firms in the country. This was revealed in the Federal…
The oil drilling campaign in Wadi-B potential, Chad Basin, Tuba Community, Jere Local Government Area, Borno State, was launched by the President, Major General Muhammadu Buhari (retd.). He stated that…
In April, the foreign exchange turnover of Naira against the US dollar in the Investors & Exporters market fell by 47.08 percent. Monday’s daily turnover was $106.84m, with the exchange…
Aviation stakeholders have demanded that the requirement that 40% of aviation agencies’ earnings be paid into the federation account be reviewed. This was said in a statement made during the…
Despite difficulties with foreign exchange, foreign airlines operating in Nigeria made almost $1.1 billion in 2022. The Central Bank of Nigeria was urged to release $717,478,606 in airline cash by…
Capital market specialists have warned that the securitization of the Senate’s N22.7 trillion Ways and Means advances to the Federal Government from the Central Bank of Nigeria could raise the…
The R1 billion Venture Capital Fund of Funds (VC FoF), a partnership between government and business aimed at fostering economic growth, has successfully completed its first close, according to the…
RMB Ventures announces a strategic equity investment in Mafika Engineering, a major provider of mining services. RMB Ventures has acquired a 45% share in Mafika Engineering, Africa’s largest independent rebuilder…
A group of private equity investors led by independent private equity fund manager Infinite Partners have agreed to buy e4, a prominent fintech expert in South Africa. The investment will…
According to Dike Onwuamaeze, businesspeople and economists have expressed concern that the 2023 Fiscal Policy Measures may bring about the demise of the tobacco and brewery businesses. “Segun Kadir-Ajayi, the…