LemFi Enters US Market with Innovative International Payment Services
LemFi, a prominent fintech company specializing in international payments, has officially launched its services in the United States. Leveraging its…
Day: August 23, 2023
Founder of Collapsed Cryptocurrency Exchange Faces Challenges in Prison Ahead of Trial
Sam Bankman-Fried, the founder of the now-collapsed cryptocurrency exchange FTX, is reportedly facing difficulties in preparing for his upcoming fraud…
Equinor’s Milestone Floating Wind Power Project Amidst Industry Challenges
Equinor, a leading energy company from Norway, has achieved a groundbreaking feat by unveiling the world’s largest floating wind power…
African State-Owned Oil Companies Report $27.95 Billion Earnings in 2023 Amid Fluctuating Crude Prices
An analysis of financial reports from three major state-owned oil and gas companies in Africa has revealed combined earnings of…
War Risk Premiums Surge for Shipping in Russia’s Black Sea Ports Amid Escalating Tensions
Insurance companies have informed ship charterers operating in Russia’s Black Sea ports of a significant increase in “war risk premiums,”…
Shift in US Bond Yields Indicates Changing Market Dynamics Amid Economic Resilience and High Supply”
The recent surge in U.S. bond yields has been accompanied by subdued inflation expectations, suggesting that economic resilience and increased…
Nigeria’s Excess Crude Account Stands at $473.8 Million; FAAC Highlights Revenue Allocation for July 2023
As of August 22, 2023, Nigeria’s Excess Crude Account (ECA) holds a balance of $473,754.57. The Federation Account Allocation Committee…
African Union Suspends Niger Republic Following Coup; Diplomacy Urged to Solve Political Crisis”
The African Union (AU) Commission has imposed sanctions by suspending Niger Republic from the organization due to the recent military…
Former Nigerian Petroleum Minister to Face Fresh Bribery Trial in the UK
Former Nigerian Petroleum Minister, Mrs. Diezani Alison-Madueke, is set to stand trial in the United Kingdom on a new bribery…
Nigeria’s New Minister of Power Outlines Priorities to Address Power Sector Challenges
Nigeria’s newly appointed Minister of Power, Chief Adebayo Adelabu, has taken office with a focus on addressing the country’s longstanding…
Federal Government Renews Leased Port Terminal Agreements Despite Operator Debts and Violations
The Federal Government of Nigeria has reportedly renewed agreements with operators of leased port terminals, disregarding their outstanding debts and…
FAAC Shares N966.11 Billion Among Federal, State, and Local Governments in July Amid Revenue Decline
In July, the Federation Account Allocation Committee (FAAC) distributed a total of N966.11 billion to the Federal, State, and local…
Over 20 Listed Nigerian Companies Penalized for Late Filing of 2022 Audited Financial Statements
According to the X-Compliance Report, a transparency initiative by The Nigerian Exchange Limited (NGX), over 20 listed companies paid a…
Naira Depreciates on Parallel Market, CBN Directs Banks to Stop FCY Secured Naira Overdrafts
The Nigerian naira experienced depreciation to N910 to a dollar on the parallel market, compared to N850 on the previous…
Nigerian Equities Market Reopens on Positive Note, Market Capitalization Rises by N262 Billion
The Nigerian equities market started on a positive note as it reopened, with gains recorded in BuaFoods, Stanbic IBTC, and…