Real Time Financial News Website
The federal executive council (FEC) has approved N621.2 billion for the Nigerian National Petroleum Corporation, (NNPC) to take over the reconstruction of 21 federal roads across the six geopolitical zones…
There are indications that the Federal Government may, in the coming weeks, take punitive measure over the operating licences of some power distribution (DisCos) and generation (GenCos) companies. The Guardian…
The Nigerian Exchange Limited (NGX) has queried FBN Holdings Plc, the holding company of First Bank of Nigeria, for classifying the shareholdings of Tunde Hassan-Odukale and his related parties into…
MultiChoice Africa Holdings, the parent company of MultiChoice Nigeria, has rejected the ruling of the Tax Appeal Tribunal, which dismissed its appeal against the $342m Value Added Tax bill imposed…
The Chinese Ambassador to Nigeria, Mr Cui Jianchun, has said Nigerian banks will soon commence operations in China, adding that he is working hard to make this a reality. Jianchun…
FBN Holdings Plc has confirmed that Mr Tunde Hassan-Odukale is the single-largest shareholder in the company. A statement signed by the company secretary, Seye Kosoko, on Wednesday confirmed that Hassan-Odukale…
Blockchain development platform QuickNode has raised $35 million in a Series A funding round, the company said Wednesday. The round was led by Tiger Global with participation from Alexis Ohanian’s…
Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of electric-vehicle batteries and a key supplier to Tesla Inc., reported profit that beat analysts’ estimates as rocketing sales overshadowed a…
Twitter said Tuesday it had posted a $537 million net loss in the third quarter after settling a lawsuit alleging investors were misled about slowing user growth. Despite revenue rising…
Guaranty Trust Holding Company Plc has reported a profit before tax of N151.91bn for the third quarter of 2021, down 9.23 per cent from N167.35bn in the same period of…
Major Tesla investor Ron Baron on Wednesday said that he’s made $6 billion on his investment into the electric automaker and plans to remain a shareholder for at least another…
Amazon said Wednesday it’s investing in three more start-ups as part of its $2 billion Climate Pledge Fund. The Climate Pledge Fund, launched by Amazon last June, is designed to…
The Federal Government has begun the process for the valuation of property belonging to several politically exposed persons, including the embattled former Minister of Petroleum Resources, Diezani Alison-Madueke. The Diezani…
Tesla shares jumped for a fourth straight session on Monday, bringing the market capitalization for the electric-vehicle maker above $1 trillion for the first-time ever. The stock rose as much…
Nigerians displayed massive interest in the Central Bank’s eNaira initiative downloading over 200,000 wallets in 24 hours. This is according to information from sources in the Apex Bank with knowledge…
Honor, the smartphone brand Huawei spun off last year, has launched its first smartphone overseas since becoming an independent company, complete with access to Google software and Qualcomm chips. The…
The volume of activities on the shares of FBN Holdings Plc, the parent company of First Bank Nigeria Limited rose sharply by 127 per cent to 350,541,662 on the Nigerian…
The National Pension Commission says it has recovered N19.29bn monthly pensions deducted by employers from employees’ monthly emoluments but not remitted to the Retirement Savings Accounts with their respective Pension…
Vendease, an agri-tech startup that lets restaurants and other food businesses buy supplies directly from manufacturers and farms, has secured a $3.2 million seed round. The funding round was led…
United Bank for Africa, UBA Plc has recorded N490.3 billion gross earnings for the third quarter ended September 30, 2021 (Q3’21), representing eight percent increase over N454.4 billion posted in…
On Monday, President Muhammadu Buhari unveiled eNaira, Nigeria’s digital currency. At the launch, Buhari said the adoption of the Central Bank Digital Currency (CBDC) and its underlying technology, blockchain, will…
Ecosia, the search engine that uses its ad revenue no to plant trees, has launched a 350 million euro ($405 million) venture capital fund focused on the climate crisis. The…
The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year. Its Country Director…
The President, Major General Muhammadu Buhari (retd.), on Monday, launched the eNaira platform. The eNaira is a culmination of several years of research work by the Central Bank of Nigeria…
The Central Bank of Nigeria has finally launched its Central Bank Digital Currency called eNaira on Monday. The eNaira was scheduled to be launched on October 1, 2021, but was…
Newly listed Nigerian Exchange Group Plc traded high at the end of last week’s transaction on the equities sector of the Nigerian Exchange Limited (NGX). It led the gainers’ chart…
The Asset Management Corporation of Nigeria “AMCON” has refused to pay to the aviation agencies N9.6 billion and $2.3 million (totalling N10.5 billion), being five per cent ticket and cargo…
The Federal Government has said it plans to spend about N7.53bn on digitisation and computerisation projects in 2022. According to the 2020 Appropriation Bill, the amount will be expended on…
HSBC on Monday reported third-quarter earnings that handily beat expectations and announced plans for a share buyback of up to $2 billion. The bank’s reported pre-tax profit for the third…
To bridge the nation’s power needs and reduce environmental pollution, the Agence Francaise de Developement (AFD) has staked about $70m to fund renewable energy and efficient energy projects in the…