Real Time Financial News Website
OpenAI has informed investors that it plans to significantly reduce the share of its revenue going to Microsoft as part of a broader corporate restructuring. Initially, OpenAI had considered a…
After weeks of speculation, it’s official: top U.S. and Chinese trade officials will meet this weekend in Geneva. But let’s not kid ourselves, this is more about starting a dialogue…
To fully harness the potential of Artificial Intelligence (AI), Nigeria needs to establish a robust regulatory framework, according to Ola Williams, Managing Director of Microsoft Nigeria and Ghana. Williams emphasized…
The first quarter of 2025 has brought significant financial relief for several fast-moving consumer goods (FMCG) firms in Nigeria, as the relative stability of the naira boosts their profitability. Many…
Internet usage in Nigeria saw a slight drop following a 50% increase in telecom tariffs approved by the Nigerian Communications Commission (NCC) in January 2025. According to data from the…
Microsoft has officially ended support for Skype after 22 years of service, signaling a shift toward its more modern collaboration platform, Teams. The company had previously announced the shutdown would…
The Nigerian naira maintained relative stability in the parallel market on Tuesday, trading around ₦1,608–₦1,610 per dollar amid a rebound in Brent crude prices. Despite a month-on-month drop of over…
The Ghana Union of Traders’ Associations (GUTA) has expressed strong approval of the Bank of Ghana’s management of the forex market, crediting it for the recent appreciation of the cedi…
Taraba State is rapidly becoming a magnet for investment in Nigeria’s North-East, with its rich agricultural base, vast mineral deposits, and youthful population playing key roles. The Commissioner for Information…
Electricity generation companies (Gencos) are pressing for an immediate meeting with President Bola Tinubu over the massive ₦4.7 trillion debt owed by the Federal Government to operators in the power…
MTN Nigeria recorded a significant 57.9% year-on-year jump in its fintech revenue, reaching ₦36.1 billion in Q1 2025, largely fueled by the success of its airtime lending service, Xtratime, and…
African start-ups raised a remarkable $803 million in Q1 2025 across 163 deals, marking a 43% increase from the same period last year, according to data from Africa: The Big…
The Federal Ministry of Finance has strongly denied allegations of corruption tied to a N13 billion contract related to the Presidential Initiative on Compressed Natural Gas (Pi-CNG). In an official…
Despite the International Monetary Fund (IMF) projecting Nigeria’s economy to grow by 3.0% in 2025—a slight revision from its earlier 3.2% forecast—market analysts believe the country may outperform this estimate.…
In a strategic move to expand its influence in the AI-powered software development market, OpenAI has entered an agreement to acquire coding tool Windsurf for approximately $3 billion. If completed,…
The Nigerian equities market began the week on a positive note, with investors gaining N412 billion, driven by impressive performances from 35 stocks. The All-Share Index climbed by 655.93 points,…
The Federal Government has tasked the Economic Management Team (EMT) with designing a strategic roadmap aimed at achieving a 7% medium-term economic growth rate. At a strategic session in Abuja,…
At a time when economic uncertainty looms large over Nigeria’s startup ecosystem, several industry leaders have come forward with pragmatic strategies to help young businesses survive and thrive. During an…
Nigeria has officially become a full member of the Asian Infrastructure Investment Bank (AIIB), following the Federal Executive Council’s (FEC) approval during a meeting in Abuja. This strategic move aligns…
The Nigerian naira appreciated to ₦1,600 per U.S. dollar in the parallel market as of Monday, May 6, 2025, marking a ₦10 gain from ₦1,610 at the close of last…
Nigeria’s top payment terminal service providers, Accelerex and ITEX, have announced their integration into Zone’s regulated blockchain network to enhance payment efficiency and enable real-time settlements. This move signifies a…
Nigeria made a powerful statement at the Dubai AI Week 2025, underscoring its rising influence in the global digital economy. The event, held under the patronage of Sheikh Hamdan bin…
Oil prices took a sharp dive on Monday, slumping to levels not seen since early 2021. Both Brent crude and West Texas Intermediate (WTI) closed lower, dropping over $1 each…
Nigeria’s foreign exchange market took a hit in April as total FX inflows fell by 5.7% month-on-month, dragged down by global trade tensions and persistent macroeconomic uncertainty. According to the…
The U.S. Department of Justice has taken a bold step by seeking a breakup of Google’s ad-tech business after a federal judge found the tech giant to have unlawfully monopolized…
Global markets remained largely flat on Tuesday as investors treaded carefully ahead of Wednesday’s U.S. Federal Reserve policy decision and ongoing trade policy uncertainty from Washington. The U.S. dollar recovered…
In the wake of U.S. President Donald Trump’s announcement of new tariffs, investors are increasingly turning to emerging market local currency bonds as an alternative to U.S. Treasurys. Historically considered…
The Nigerian Exchange (NGX) kicked off the week with solid momentum as investor confidence fueled a 0.62% surge in the All-Share Index (ASI), pushing it to 106,698.50 points. This upbeat…
In a bid to steady the cedi and keep fuel prices in check, the Bank of Ghana (BoG) has pumped $20 million into the foreign exchange market. This move is…
Nigeria’s external sector is going through a serious transformation, with the Central Bank’s foreign exchange reforms at the center of it all. Since mid-2023, the CBN has shifted away from…