Real Time Financial News Website
In a significant diplomatic breakthrough, the United Arab Emirates (UAE) has officially lifted the visa ban imposed on Nigerian travelers, marking a turning point in bilateral relations. This decision comes…
The Central Bank of Nigeria (CBN) issued a directive on Monday instructing commercial banks not to utilize their foreign exchange revaluation gains for dividends and operational expenditures. This directive, effective…
Indian fintech firm Perfios has successfully secured $229 million in a recent Series D funding round, a move aimed at furthering its expansion into North America and Europe. Kedaara Capital,…
India is reevaluating the possibility of permitting domestic companies to list on foreign exchanges, including the London Stock Exchange, according to Finance Minister Nirmala Sitharaman. This move could provide Indian…
Coinbase has clarified that it disabled new user sign-ups on its exchange platform in India back in June due to updated standards. This decision was misrepresented in recent reports. While…
Raymond Ndong Sima, Gabon’s recently appointed Prime Minister, has announced the military government’s commitment to organizing free elections within the next two years. This assurance comes in the wake of…
In the first half of 2023, Nigeria’s top insurance companies witnessed a substantial surge in net claims payments, reaching N49.158 billion. This marks a significant 25.47% increase compared to the…
Singapore-based Olam Group has strongly refuted recent reports from Nigerian media claiming its African units were involved in a multi-billion-dollar foreign exchange fraud. The company issued a statement categorically denying…
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, assured that President Bola Tinubu’s administration does not intend to increase tax rates on Nigerians. He…
The nationwide strike planned by the Medical and Dental Consultants Association of Nigeria (MDCAN) has been postponed for a period of three months. This decision follows an appeal by the…
Nigeria’s President Bola Tinubu engaged in discussions with German Chancellor Olaf Scholz, South Korean President Yoon Suk Yeol, and Indian Prime Minister Narendra Modi during the G20 summit. The meetings…
Fitch Ratings has raised alarms over Nigeria’s precarious external reserves, stating that it underscores the country’s susceptibility to external risks and policy difficulties. This vulnerability is attributed to recent setbacks…
Vodafone has unveiled ambitious plans to utilize Amazon’s forthcoming satellite initiative, Project Kuiper, for extending 4G and 5G coverage to remote regions across Europe and Africa. Project Kuiper, an endeavor…
Rentoza has successfully raised $6 million in funding to broaden the reach of its pay-per-use subscription model for renting electronic devices beyond South Africa. These funds will also facilitate the…
BFA Global’s Catalyst Fund has achieved its initial funding milestone, garnering $8.6 million out of the targeted $40 million for investments in climate-focused startups across Africa. Participation in this initiative…
Google has named Alex Okosi as the Managing Director for its operations in Africa. Prior to this, Okosi held the position of Managing Director for YouTube’s Emerging Markets in Europe,…
Announced at the Africa Climate Summit in Nairobi, a groundbreaking initiative will bring grid power to nearly 70% of Burundi’s population. Weza Power, a newly established privately-owned electricity distribution company,…
The British University in Egypt (BUE), a leading private British institution, has entered into a strategic collaboration with AfricInvest, a pan-African private equity firm, for an investment of approximately $40…
Globeducate, a leading K12 education group, has acquired a stake in International Education Group (IEG) following regulatory clearance in Morocco, taking over from investment fund Tana Africa Capital. IEG, established…
UK house prices have experienced their most significant annual decline in 14 years, with August seeing a 4.6% drop, the largest year-on-year decrease since 2009. This translates to an approximate…
The UK property market is experiencing a dip in house sales due to high mortgage rates deterring potential buyers. In contrast, the rental market is witnessing a surge in demand,…
In August, the world price index of the United Nations food agency dropped to a new low for the past two years, reversing a slight recovery seen in the previous…
Employees at Chevron’s liquefied natural gas (LNG) ventures in Australia initiated a strike on Friday as negotiations failed, potentially disrupting production from facilities that constitute over 5% of the world’s…
During the India G-20 Summit, President Tinubu addressed Nigerians in India, emphasizing that Nigeria’s future is dynamic and abundant in resources. He urged citizens to utilize the nation’s diversity as…
The Federal Airports Authority of Nigeria (FAAN) has commenced the process of relocating international airlines to the new international terminal at the Murtala Muhammed Airport (MMA), Lagos. This directive from…
The dollar has stabilized near six-month highs, as ongoing signs of inflation in the United States continue to fuel concerns about the Federal Reserve’s hawkish stance. In the unofficial foreign…
Between January and August 2023, Nigeria suffered an estimated loss of N335 million due to oil spills, according to data released by the National Oil Spill Detection and Response Agency…
In the first half of 2023, Nigeria’s foreign exchange earnings experienced growth, resulting in a foreign trade surplus of N2.22 trillion. The National Bureau of Statistics reported that Nigeria’s total…
The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, has emphasized that the N120 billion Unstructured Supplementary Service Data (USSD) debt owed by banks to telecommunication firms…
The Nigerian stock market experienced another downturn on Thursday, resulting in a loss of N112 billion in market capitalization. This comes after a previous loss of N27 billion on Wednesday,…