Real Time Financial News Website
During an Extraordinary General Meeting, shareholders of International Breweries endorsed a $379.9 million loan from its majority shareholder, AB InBev Nigeria Holdings BV. The loan aims to facilitate the repayment…
The recent strengthening of the naira against the dollar has brought relief to consumers, with the price of a 50-kilogram bag of rice decreasing significantly. In major cities like Lagos,…
Yolo Group’s Sportsbet.io has expanded its team of ambassadors with three new additions, joining the likes of Nwankwo Kanu, Brett Lee, and King Kaka. The latest recruits include Brian Dennis,…
While big banks grabbed attention for foreign exchange gains last year, Sterling Financial Holdings Plc, FCMB Group Plc, and Stanbic IBTC Holdings Plc topped the list with remarkable increases in…
Ndiame Diop, a Senegalese national, is set to assume the position of World Bank Country Director for Nigeria, replacing Shubham Chaudhuri, a U.S. national with roots in India. The news…
The Central Bank of Nigeria (CBN) has initiated another round of discounted dollar sales directly to Bureau De Change (BDC) operators, offering the currency at N1,021 per dollar. In February…
Point-of-Sale (POS) transaction values in Nigeria experienced a notable downturn in the first quarter of 2024, witnessing a decline of N225.73 billion compared to the same period in the previous…
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner, Newcross Exploration and Production Ltd., have restarted crude oil production at the Awoba Field in Rivers State,…
The World Bank has suspended funding for a $150 million tourism project in Tanzania following allegations of severe harm inflicted on local villagers, as reported by a U.S.-based rights group.…
Somalia has announced that Turkey will begin oil drilling operations along the country’s extensive coastline starting next year, as confirmed by Mohamed Hashi Abdi ‘Arabey’, Director General of the Somali…
Microsoft (MSFT.O) unveiled Phi-3-mini, a cost-effective small language artificial intelligence model aimed at performing tasks like content creation and social media posts using smaller data sets. The new model outperforms…
The resurgence of the US dollar has caught global financial markets off guard in 2024, with the US dollar index reaching its highest level since early November, closing at 106.26…
The Joint Admissions and Matriculation Board (JAMB) has announced plans to reimburse fees paid for forms by visually-impaired candidates of the Unified Tertiary Matriculation Examination (UTME), subject to specific criteria.…
Nigeria is getting ready to borrow money from international investors by selling its first foreign currency bond. The country hopes to raise around $30 billion in June. This amount is…
Segun Alebiosun, currently the Executive Director and Chief Risk Officer, is likely to become the acting Managing Director and Chief Executive of Nigeria’s oldest bank, First Bank. He will step…
Analysts predict that the recent stability in Nigeria’s foreign exchange market, along with the strengthening of the naira, will help to lower the country’s high inflation rate. Umaru Mustapha, a…
BusinessDay’s investigation reveals that the Dangote oil refinery’s diesel supply is set to replace the importation of the product from European refiners, which amounts to about 2.5 billion litres annually.…
The Presidential Enabling Business Environment Council (PEBEC) has revealed that only 10 out of 39 government Ministries, Departments, and Agencies (MDAs) scored above 50% in compliance with the Business Facilitation…
The Federal Government of Nigeria anticipates receiving a $2.2 billion single-digit interest loan from the World Bank and additional budget support from the African Development Bank (AfDB). Minister of Finance,…
Transcorp Hotel Plc has revealed a notable increase of 36.2% in its revenue for the year 2023. During a presentation to analysts and investors, the Managing Director/CEO, Dupe Olusola, disclosed…
Dana Air, a prominent Nigerian airline plans to host health talks and screenings for staff and regular customers, scheduled to take place in Lagos on April 25, 26, and 29,…
The banking sector witnessed a significant sell-off last week ahead of the Central Bank of Nigeria’s (CBN) recapitalization exercise, resulting in a staggering N1.57 trillion loss for investors. Market capitalization…
The Federal Government says it is reviewing loans and projects estimated at $500m executed by the Nigerian Content Development and Monitoring Board. The Minister of State for Petroleum Resources (Oil),…
The Federal Government is conducting a review of loans and projects totaling $500 million executed by the Nigerian Content Development and Monitoring Board (NCDMB). Minister of State for Petroleum Resources…
The Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) has issued a threat of industrial action if the Federal Government does not exempt aviation agencies from the directive to…
Afriland Properties Plc, a property management, investment, and development company, has reported a profit before tax of N2.41 billion for the financial year 2023, marking a 34 percent increase from…
The International Monetary Fund (IMF) has highlighted that incomes in Sub-Saharan Africa are falling further behind the rest of the world amidst a “tepid” economic recovery. Despite an anticipated growth…
South Africa’s rand experienced volatility in early Friday trading following reports of an Israeli attack on Iran, which dampened risk sentiment and triggered a sell-off in currency markets. The rand…
An IMF official stated that Ghana reaching a restructuring agreement with holders of its international bonds is more a matter of time than facing insurmountable obstacles. Abebe Selassie, African Department…
Nigeria is taking steps to make it a crime to damage broadband fiber cables following complaints from major telecommunications companies like MTN Nigeria Communications Plc. The Works Ministry, overseeing federal…