Real Time Financial News Website
Short sellers are reaping huge profits this year, as the stock market’s brutal bloodbath fuel their bearish bets. The short-selling cohort has gained $114 billion in January mark-to-market profits as…
In 2020, Africa50, an infrastructure financier backed by the Africa Development Bank (AfDB) Group and a good number of African governments, hosted an innovation challenge that sought affordable and reliable…
The country recorded a foreign exchange inflow of $55.5bn in seven months, data obtained from the Central Bank of Nigeria have shown. The rise in forex inflow was attributed to…
The value of the cryptocurrency market stood at $1.61 trillion on Saturday, representing 11.8 percent decline over the last day, according to data on CoinMarketCap. The price crash culminated in…
Tesla Inc on Monday fought back against JPMorgan Chase & Co over a disputed bond contract, countersuing the bank for seeking a “windfall” following Elon Musk’s notorious 2018 tweet that…
On the 28th of September, 2021, the Afreximbank in conjunction with the African Continental Free Trade Area (AfCFTA) secretariat officially made the Pan-African Payment and Settlement System (PAPSS) available to…
Alhaji Aliko Dangote, President of Dangote Group, says the Dangote Refinery and Fertiliser projects will come on stream before the end of third quarter of this year. He said this…
The world’s largest Non Fungible Token marketplace, OpenSea, has reportedly lost 332 Etherium to hackers on Monday. This amounts to $2,350 per Ether and $780,000, based on the current market…
Additional 78,929,849 ordinary shares of 50 kobo each of Nigerian Breweries Plc (Nigerian Breweries or the Company) were today, Monday, 24 January 2022, listed on the Daily Official List of…
Adiwale Partners, a private equity firm focused on Francophone West Africa, picked up a minority stake in Maintenance Climatisation Technique in its maiden deal. Adiwale Fund I’s investment will accelerate…
Toshiba Corp said on Monday that it had suspended operations at a plant in Oita, southern Japan that makes semiconductors used in cars and industrial machinery, after a strong earthquake…
China’s State Administration for Market Regulation has called to strengthen protection of minors against food products containing hints of pornography marketed as ‘internet celebrity snacks,’ according to a notice from…
The Eko Electricity Distribution Company (EKEDC) has announced the appointment of Oritsedere Otubu as its new Chairman, to consolidate on its N11 billion monthly revenue. Otubu replaced the pioneer Chair…
QED an investment firm based in Alexandra, Virginia in the United States of America announced that it has recruited two Nigerians, Gbenga Ajayi as Partner in charge of African investments…
Investors in the Nigerian stock market saw the worth of their shares rise by N840bn last week as 47 firms recorded price appreciation. The All-Share Index of the Nigerian Exchange…
The World Bank and the African Development Bank approved a total sum of $2.83bn to Nigeria in 2021, It has been learnt. However, the financing is not limited to the…
The deployment of fifth generation technology has got a boost from the Federal Government. Federal government through the Central Bank of Nigeria has placed the telecommunication sector on the priority…
Aliko Dangote recorded a boost of as much as $1.3 billion in his fortune in the year to January 21, a period that was a blessing to investment for shareholders…
The Lagos State Internal Revenue Service has given firms based in the state till January 31, 2022, to file their annual tax returns or risk penalties for late payment. The…
Nigeria’s total import bill for jan-sep 2021 rose to $8.92bn from $4.29bn in the same period of 2020. Dr Biodun Adedipe an economist and Chief Consultant, disclosed this while presenting…
MTN Nigeria Plc said it is waiting for approval from Securities and Exchange companies SEC to announce the offer result and share allotments. Uto Ukpanah MTN secretary said the announcement…
Foreign direct investment (FDI) into Africa showed a strong rebound in growth of 147 percent to an estimated $97 billion compared with $39 billion in 2020. The United Nations Conference…
The Federal Government has called on the Nigerian private sector to maximize the African Continental Free Trade Agreement. The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, made the…
The International Monetary Fund is set to launch a $50bn trust fund for low-income and vulnerable middle-income countries. The initiative is to help them build resilience to balance off payments…
Nigeria’s Federal Government bond issuance for the month of January 2021, by the Debt Management Office (DMO) recorded an oversubscription of N139 billion to stand at N214.1 billion despite only…
The Central Bank of Nigeria has said that all import and export operations will require the submission of an electronic invoice authenticated by the authorised-dealer banks on the Nigeria single…
The Federal Government has revoked oil mining licences awarded to Chinese firm, Addax Petroleum, for the second time in less than 12 months. Oil Mining Licences (OMLs) 123, 124, 126…
In a blog post published in the early hours of Thursday morning, cryptocurrency exchange Crypto.com acknowledged that the company had lost well over $30 million in Bitcoin and Ethereum after…
A U.S. Senate panel is set on Thursday to debate a bill that aims to rein in app stores of companies that some lawmakers say exert too much market control,…
Touch and Pay (TAP), a cowry card payment system, has now been listed in the W22 Y Combinator batch, bringing the number of tech startups with Nigerian origin on the…