Real Time Financial News Website
Payment of salaries by about 33 states of the federation is uncertain as the decision of the federal government to debit local government accounts in commencement of a payment of…
President Muhammadu Buhari will unveil the Central Bank Digital Currency, known as the eNaira, today at the State House, Abuja. The Central Bank of Nigeria had in February barred banks…
The total amount of pension funds invested in banks by Pension Fund Administrators rose to N2.05tn at the end of July from N1.48tn in January. The National Pension Commission disclosed…
U.S. payments giant PayPal said that it is not currently interested in buying social media platform Pinterest. Responding to what it called “market rumors,” the financial technology company said in…
The World Bank has blacklisted 18 Nigerian individuals and firms for engaging in corrupt practices, fraud and collusive practices in its 2021 fiscal year 2021, a new report has revealed.…
Australian renewable power producer Frazium Energy has inked a deal with the government of Eswatini, also known as Swaziland, to build a 100-MW solar park in the South African Kingdom.…
Nigerian startup Eden Life, a home services app for scheduling food, laundry and cleaning services, has raised a US$1.4 million seed funding round to help it build out its service…
MFS Africa, the largest pan-African digital payments hub, announced that it had signed an agreement to acquire Baxi, one of Nigeria’s leading super-agent networks. The deal, which is subject to…
The £1.5bn financing set aside for Nigeria by the UK Export Finance, the United Kingdom government’s export credit agency, has remained largely untouched, the UK Government Department for International Trade,…
Thirty-four foreign and indigenous oil companies disbursed $896.891 million as social expenditure in the 12 months culminating in December 2019, the latest audit report by the Nigeria Extractive Industries Transparency…
Tesco’s online grocery store website and app have been removed by hacking attempts, retail giants said. The supermarket chain said it was experiencing “great turmoil” after “trying to interfere with…
FBN Holdings Plc, a major beneficiary of Airtel Africa’s buy-back of the unquoted shares of Airtel Nigeria, could rake in as much as over N200billion from the deal. This amount…
There is a struggle for the control of Nigeria’s premier banking institution, FBN Holdings Plc. The fight is between the current chairman of the Bank, Mr. Tunde Hassan-Odukale, who is…
FBN Holdings Plc, the holding company of First Bank of Nigeria, says it has received notification that Femi Otedola, billionaire businessman, has acquired 5% stake in the company. In what…
Dangote Cement Plc built an after-tax profit of N191.6 billion at the end of its half-year trading in June 2021. This represents a year-on-year increase of 52 per cent, stepping…
Facebook said Thursday it had reached an agreement with some French newspapers to pay for news content shared by its users, months after Google announced plans to renumerate them for…
At the hearing in Lagos on Wednesday, the administrative court said it was satisfied that MultiChoice had complied with the directive by depositing N8 billion — as instructed on the…
Elon Musk, the world’s most renowned entrepreneur and the CEO of two of the world’s largest companies, SpaceX and Tesla, is set to become the world’s first trillionaire. According to…
Muhammad Nami, executive chairman of the Federal Inland Revenue Service (FIRS), says the agency is proposing road infrastructure tax in Nigeria to make the informal sector contribute to building a…
From having a humongous loan portfolio of N192 billion in 2012 via his then Zenon Petroleum and Gas Ltd which was eventually passed on to the Asset Management Company of…
Transactions on the equities sector of the Nigerian Exchange Limited (NGX) sustained a rising profile yesterday, occasioned by gains in many highly capitalised stocks, causing investors’ wealth to soar by…
Shares of Facebook and Twitter and other social media and digital advertising companies are sharply down in after-hours trading, after Snap reported it missed revenue expectations in the third quarter…
The International Monetary Fund, IMF, has projected a 2.7 per economic growth for Nigeria in 2022 and 2.6 per cent growth for this year citing a recovery in non-oil sectors…
Nigeria’s external reserves gained $3.98bn in three weeks, rising above the $40bn mark, according to data obtained from the Central Bank of Nigeria. The CBN data showed that the reserves…
The Prime Minister of Antigua and Barbuda Gaston Browne has ordered the arrest of Bamise and Elizabeth Ajetunmobi, the couple who fled Nigeria after duping investors of over N22 billion.…
Exxon Mobil said on Wednesday it had temporarily cut back production at its unit in Chad and reduced staffing in the country to essential personnel following worker protests against a…
Price Water House Coopers (PwC) and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to support a technology-enabled approach to the transformation of the nation’s…
German software giant SAP on Thursday posted a jump in revenue at its fast-growing cloud unit, which helped boost the company’s earnings performance in the third quarter. SAP’s third-quarter cloud…
The federal government is negotiating with the International Monetary Fund (IMF) on repayment terms for the $3.4 billion extended to Nigeria under the Fund’s global $650 billion Special Drawing Right…
The African Development Bank initiative, the Africa Digital Financial Inclusion Facility (ADFI), and Y’ello Digital Financial Services (YDFS), the fintech subsidiary of MTN Nigeria, have signed an agreement for a…