Real Time Financial News Website
Shareholders of NOVA Merchant Bank have given their unanimous approval to transition the bank into commercial banking during its 6th Annual General Meeting in Lagos. The decision to transition aims…
On Wednesday, the Nigerian naira appreciated against the US dollar on the Investor & Exporter forex window, closing at 793.70/$. This was a significant improvement compared to the previous week…
Ecobank Nigeria Limited has appealed the ruling of the Federal High Court in Lagos, which ordered the bank to pay Honeywell Flour Mills Plc N72 billion. The appeal, filed on…
The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to formulate and implement implementable economic and industrial policies to enhance the country’s economic performance. NECA emphasized the need…
The Nigeria Data Protection Bureau (NDPB) has stated that Nigeria will require more than 400,000 Data Protection Officers (DPOs) to ensure compliance with the Data Protection Act by the 500,000…
The Manufacturers Association of Nigeria Export Promotion Group (MANEG) has announced its collaboration with key stakeholders from the public and private sectors to promote and protect the interests of non-oil…
The International Monetary Fund (IMF) revealed that a 10% appreciation in the US dollar, driven by global financial market forces, resulted in a 1.9% decrease in economic output for emerging…
The International Monetary Fund (IMF) predicts that Kenya’s official foreign exchange reserves will continue to face challenges despite recent inflows, including the disbursement of Sh58.8 billion from the multilateral lender.…
The African Securities Exchange Association (ASEA) and the United Nations Economic Commission for Africa (ECA) have signed a significant Memorandum of Understanding (MOU) to strengthen cooperation and advance financial market…
The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Olumide Adeosun, revealed that fluctuations in the foreign exchange rate have led to an increase of N100 per…
The acting Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, announced that the service would seek a review of the 15 percent National Automobile Council (NAC) levy imposed on…
The first batch of petrol, consisting of 27 million litres, has been imported by an independent marketer, ending the longstanding downstream monopoly market previously held by the Nigerian National Petroleum…
The Federal High Court in Lagos has issued a ruling ordering Ecobank Nigeria to pay Honeywell Flour Mills the sum of N72.2 billion in damages. The legal battle between the…
The United Kingdom (UK) will include the Nigerian naira in its list of “pre-approved currencies” for financing transactions, allowing the UK’s export finance agency to provide funding for deals with…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that Nigerians should anticipate fluctuations in the price of Premium Motor Spirit (PMS) due to the deregulation of the petroleum…
The Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC), is taking measures to address anti-competitive practices and unjustified food price hikes in Nigeria. The Chief Executive Officer…
The Nigeria Labour Congress (NLC) issued a warning, stating that it might withdraw from talks with the federal government over the removal of petrol subsidies, which has led to a…
The Nigerian Government announced that fuel consumption in the country has significantly dropped to 46.38 million litres per day after the removal of fuel subsidies. This represents a 35% reduction…
The official exchange rate of the Nigerian Naira improved from N803.9 per dollar, but at N820/$1, the parallel market rate is weaker than the average of N815/$1 recorded last Friday,…
The Nigerian Ports Authority (NPA) has announced a total revenue of N191,430,093,501.00 generated from its operations in the first half of 2023. During the same period, NPA remitted N55,712,565,027.46 to…
The Central Bank of Nigeria (CBN) has published an updated list of approved Bureau de Change (BDC) dealers in the country, revealing a significant reduction in the total number of…
The Nigerian Ports Authority (NPA) reported robust performance in the first half of 2023, with 1,852 vessels completing operations, leading to a significant revenue of N191.4 billion. Out of this…
The Nigerian House of Representatives has announced its intention to conduct an investigation into the Nigerian National Petroleum Company Limited (NNPC) for the non-remittance of revenues to the federation account.…
Paraphrased Paragraphs: The International Monetary Fund’s executive board has granted Kenya nearly $1 billion in funding to alleviate financial pressures in the country. The board completed the fifth reviews under…
Paraphrased Paragraphs: Afrinvest analysts have projected that capital importation in Nigeria for the fiscal year 2023 could reach $6.2 billion, contingent on crucial reforms, including unification of foreign exchange rates…
Paraphrased Paragraphs: The Nigeria Customs Service (NCS) Kwara State Command reported a revenue of N6.2 billion between April and June 2023, representing a 9.14% increase compared to the same period…
Point of Sale (PoS) operators in Nigeria are protesting the implementation of increased service charges, which took effect on Monday. The Association of Mobile Money and Bank Agents in Nigeria…
Petroleum export revenues from the Organization of the Petroleum Exporting Countries (OPEC) reached their highest level in almost a decade in 2022, totaling $873.6 billion, a 54% increase from the…
The International Gas Union (IGU) reported that Nigeria’s Liquefied Natural Gas (LNG) export declined by 1.8 million metric tonnes (MT) in 2022 due to force majeure declarations caused by massive…
The Nigerian Ports Authority (NPA), in collaboration with the Lagos State Government, has initiated a joint operation to demolish shanties and extortion points surrounding the Lagos ports. The aim is…