Real Time Financial News Website
According to data from the Nigeria Inter-Bank Settlement System Plc, the total number of issued Bank Verification Numbers (BVNs) in Nigeria has reached 57.96 million as of July 3, 2023.…
A new gas pricing template for the power sector and gas-based industries in Nigeria is awaiting approval from President Bola Tinubu, according to the Nigerian Midstream and Downstream Petroleum Regulatory…
The recent surge in passenger-operator clashes in Nigerian airports has raised concerns about the friendliness and efficiency of the country’s aviation industry. Incidents involving travellers and airlines have highlighted the…
Flour Mill of Nigeria Plc, a prominent consumer conglomerate in Nigeria, has reaffirmed its commitment to utilizing its impressive credit rating to raise funds from the capital market. With a…
The Nigerian Federal Government expressed alarm over the country’s underperforming Value Added Tax (VAT) compared to other nations in the West African region. The government highlighted the need for policy…
The Nigerian National Petroleum Company Limited (NNPCL) has stated that the Federal Government of Nigeria plans to renegotiate the country’s OPEC+ production quota by November. According to the Group Chief…
The Treasury is set to float the second tranche of a bond worth Ksh 28 billion this week to clear the pending bill from the fuel subsidy owed to oil…
The value of unused Safaricom customer loyalty awards, known as Bonga points, has reached its lowest point in 12 years. This signals a rise in customer redemptions after the introduction…
The Bank of Ghana has announced plans to sell $120 million to Bulk Oil Distribution Companies (BDCs) in the third quarter of 2023. The funds will be allocated through the…
Kenya experienced a turnaround in foreign direct investment (FDI) in 2022, with FDI inflows rising by 63.93% to $759 million. The increase in investment was driven by renewable energy projects,…
The abolition of multiple forex rates by the Central Bank of Nigeria (CBN) has contributed to a 23.8% increase in total foreign exchange (forex) inflows into the Investors and Exporters…
Ecobank Plc has filed a petition to FBN Holdings, urging them to suspend the approval of Oba Otudeko’s bid for 4 billion shares of the bank. The petition is based…
Nigeria’s gas reserves have positioned the country as a dominant player in Africa’s gas market, accounting for 33 percent of the continent’s total gas reserves. With reserves that could last…
The Nigerian insurance industry recently experienced an unexpected setback, witnessing a negative growth of eight percent in the second quarter of 2023. This decline comes as a surprise, especially considering…
The recent report released by the National Bureau of Statistics (NBS) on capital importation in Nigeria reveals a significant decline of 28% in Q1 2023 compared to the previous year.…
: The Nigerian government recently announced that the volume of Premium Motor Spirit (PMS), commonly known as petrol, consumed in the first half of 2023 amounted to 11.26 billion litres.…
Equity Bank, Kenya’s most profitable bank, has announced an increase in loan prices following the Central Bank of Kenya’s (CBK) announcement of a new benchmark rate. Starting from Monday, customers…
Kenya has secured a syndicated loan of Sh70.4 billion ($500 million) from a consortium of international lenders, including Citi Group, Standard Chartered Bank, Afrexim Bank, Standard Bank, and Rand Merchant…
The family of Peter Mukuha Kago, the founder of Naivas, plans to sell an additional 11% stake in the company for an estimated $41.7 million (Sh5.8 billion). The deal would…
In an effort to boost manufacturing and improve the ease of doing business, President Bola Ahmed Tinubu of Nigeria has signed four executive orders (EOs). The EOs aim to reduce…
Nigerian Exchange Limited (NGX) has announced its commitment to reducing the settlement cycle from T+3 to T+1 in collaboration with the Central Securities Clearing System (CSCS) Plc and other stakeholders.…
In June 2023, the Nigerian economy experienced a decline in productivity following the removal of fuel subsidies, resulting in heightened price inflation and negative consequences for wholesale and retail traders.…
The Central Bank of Nigeria (CBN) has issued a circular instructing banks and other financial institutions in the country to increase their monitoring of transactions involving businesses and individuals from…
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to construct another international gas pipeline valued at approximately $8 billion. This pipeline will traverse Niger Republic and Algeria before…
The first half of 2023 saw a decline in trading and liquidity at the Dar es Salaam Stock Exchange (DSE) in Tanzania, with total turnover falling by 34.5 percent compared…
Société Générale Ghana Plc has reported a profit after tax of GHS 109 million for the year 2022, representing a decrease compared to the GHS 184 million recorded in 2021.…
Nearly half of the water supplied in Kenya is unmetered, resulting in a significant loss of revenue for water companies and exacerbating the funding challenges in the sector. The Ministry…
The World Bank has expressed its support for Kenya’s efforts to expand the reach of taxation in the digital marketplace. These measures aim to broaden the tax base and boost…
Safaricom, the leading telecommunications company in Kenya, plans to establish two venture capital firms in order to invest in promising tech startups and support its future growth. The company has…
Ayo Akinola, a Technical Expert to the Federal Ministry of Industry, Trade, and Investment on the National Cocoa Plan, has highlighted that inter-agency rivalry among government departments and agencies is…