Real Time Financial News Website
The Federal Government has identified 78 priority measures that, when completed, will overhaul the entire food system, from farm to table and waste management. The Permanent Secretary of the Ministry…
The naira is trading higher on the black market for the first time since 2015, exactly one week after the Central Bank of Nigeria (CBN) shut down the foreign currency…
In the first four months of this year (January to April), the Federal Government (FG), 36 States, and 774 Local Governments (LG) in Nigeria split N2.84 trillion as statutory allocation…
In December 2022, Prof. Benedict Oramah, the chairman of the African Export-Import Bank (Afrixembank), revealed that Nigeria lost an estimated $700 million annually due to rejected agricultural products. He claims…
Despite the limited access to petroleum products that Nigerians had in the first quarter of 2023 (Q1’23), With a total of 827,080 metric tons of fuel imported during the period,…
In comparison to the same period in 2022, the value of listed Federal Government of Nigeria bonds on the Nigerian Exchange Limited, or NGX, has dropped dramatically by 93.2 percent…
There are significant signs that the state governments, which are considered to be federating units under the constitution, may have started the process of setting up their respective utility commissions…
Despite the criticism to the action, the Federal Government shouldn’t reverse its decision to end subsidies on Premium Motor Spirit, also known as gasoline, the Nigeria Extractive Industries Transparency Initiative…
After the Central Bank of Nigeria floated the naira, the value of Nigeria’s exports might increase to at least N41.99 trillion annually. To close the gap between the official and…
The UK has stated that it is prepared to lower tariffs on goods coming from Nigeria and other emerging nations. The British High Commission in Abuja issued a statement on…
The recent increase in airfares was caused by a paucity of foreign currency and aviation fuel, according to the Airline Operators of Nigeria. JetA1, often known as aviation fuel, is…
Eze, a B2B electronic goods marketplace, raises $3.7 million. Right Side Capital Management headed the investment round, which also included venture capitalists and angel investors. The business intends to use…
To aid in the expansion of the Egyptian logistics sector, private equity firm Avanz Capital Egypt has invested $3.5 million in the logistics start-up Trella. The business hopes to further…
In a historic financing for a Zambian private equity firm, Monter Capital Partners in Port Louis successfully closed the first close of $40 million for its flagship $100 million fund.…
French energy company Schneider Electric Kenya will discontinue its manufacturing activities there, indicating challenges with local value-addition. Schneider Electric Kenya said in a statement that it had decided to transfer…
Over the following two months, it is expected that Ghana’s inflation rate will increase. This is mostly caused by the three new taxes’ adverse pricing effects as well as the…
In Nigeria, Esso Exploration and Production Nigeria Limited, Mobil Producing Nigeria Unlimited, have appointed Shane Harris as their new chairman and managing director. The announcement said that Harris would take…
In Nigeria, access to fifth-generation technology (5G) is expanding significantly, especially since Airtel Nigeria inaugurated the network on Monday in Lagos. With the addition of this operator, there are now…
In order to save businesses and consumers millions of pounds annually, the United Kingdom (UK) stated that it has drastically streamlined trading regulations and reduced tariffs on goods from Nigeria…
According to the most recent data made available by the Nigerian electrical Regulatory Commission (NERC), the collection efficiency of the electrical Distribution Companies (Discos) operating in the nation increased throughout…
Banks, telecommunications corporations, and other organizations might face fines of up to 2% of their annual turnover for data breaches, according to Dr. Vincent Olatunji, the National Commissioner/CEO of the…
After ending Monday’s trading in the investor & exporter FX market at 770.38/$, the naira fell even further against the dollar. The trade rates had ended at N686.96/$ on Friday,…
The payment of the 7.5% Value Added Tax on Automotive Gas Oil, also known as diesel, was officially announced by the Federal Government on Monday. Representatives of the Federal Inland…
The government anticipates receiving around $6.2 billion from its multilateral partners between 2023 and 2026, according to Ken Ofori-Atta, minister of finance. On Sunday, June 18, the Minister of Finance…
TransCentury Plc was placed under administration after Equity Bank Kenya turned down a request to cancel more than Sh2.8 billion ($20 million) in debt due by the company. This was…
According to a statement from TrustBanc Holdings Limited, the extra N1.5 billion capital injection into TrustBanc Microfinance Bank Limited has been approved by the company’s shareholders. Additionally, it stated that…
The second phase of the African Exchanges Linkage Project (AELP), which was successfully launched in phase one, is expected to begin by the third quarter (Q3) of this year, according…
Four Memorandums of Understanding for the $30 billion Nigeria-Morocco Gas Pipeline Project were signed on Friday at the ECWAS headquarters in Abuja by Nigeria, Morocco, Cote d’Ivoire, Liberia, Benin, and…
The Central Bank of Nigeria (CBN) has maintained its position about the 43 prohibited commodities that were presented by its suspended Governor, Godwin Emefiele, as eligible for foreign exchange. This…
On June 9, 2023, the loan with project ID P174622 received approval, becoming the first World Bank loan to do so under President Bola Tinubu’s new administration. International Bank for…