Real Time Financial News Website
After a prolonged dispute between Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) over unpaid debts for the use of Unstructured Supplementary Service Data (USSD), there is now a…
Africa holds a significant economic opportunity within its grasp, owning approximately one-third of the world’s major international water basins. A comprehensive study by the UN Environment Programme (UNEP) reveals that…
Transcorp Group, under the leadership of Chairman Tony Elumelu, is emerging as a pivotal force in propelling Nigeria and Africa towards a future of sustainable energy and impactful investments. With…
Seplat Energy, an independent oil producer, has responded to controversies surrounding the ownership of the Majestic oil rig, which was involved in a recent incident in Delta State, Nigeria. The…
The Nigerian naira demonstrated strength against the US dollar, closing at 740.67/$ on the Investor & Exporter forex window. This gain follows a series of positive movements since the Central…
Nigeria’s participation in the second phase of the Guided Trade Initiative (GTI) under the African Continental Free Trade Area (AfCFTA) has been confirmed by Segun Awolowo, the Executive Secretary of…
The Central Bank of Nigeria (CBN) has officially launched its Price Verification System (PVS) portal, which will require all applications for Forms M (required for import and export transactions) to…
The Economic Community of West African States (ECOWAS) has announced its readiness to intervene militarily in Niger Republic if diplomatic efforts fail to persuade the ruling military junta, which ousted…
The Nigerian Stock Exchange (NSE) has extended its bearish performance from the previous trading session, resulting in a decline of N58 billion in market capitalization. This marks an overall cumulative…
Binance, a prominent cryptocurrency exchange, has announced the closure of its fiat-to-crypto payments platform, Binance Connect. This decision comes as the cryptocurrency market experiences fluctuations and is attributed to structural…
The number of Americans filing new claims for unemployment benefits fell by 11,000 to a seasonally adjusted 239,000 for the week ended August 12, according to the Labor Department. Economists…
China’s economy is facing challenges such as a potential property crisis and stagnation, leading to concerns over the government’s tepid response to address these issues. Investors, analysts, and diplomats are…
The local manufacturing industry in Nigeria has been hit hard by the harsh operating environment, leading to a significant decline in profitability during the first half of the year. Investors…
A Federal High Court in Lagos has adjourned a hearing on various applications related to the controlling shares of First Bank Holdings. The bank is seeking to stay the execution…
Suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele is set to be arraigned in court alongside an associate and her company for a procurement fraud amounting to N6.9 billion.…
The Nigerian Export Promotion Council (NEPC) is aiming to generate more than $5 billion in revenue from non-oil exports. In pursuit of this goal, the NEPC has intensified its training…
The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has expressed concerns about the adverse effects of the current inflationary trend on the country’s manufacturing sector. He highlighted…
The continued shutdown of operations by Nigerian Liquefied Natural Gas Ltd (NLNG) is posing a serious risk to the country’s annual gas production of 22 million tonnes. NLNG declared a…
The Nigerian National Petroleum Company Limited (NNPCL) and Afreximbank have jointly signed a commitment letter and term sheet for an emergency $3 billion crude oil repayment loan. This move is…
The Nigerian naira has rebounded against the United States dollar in the parallel market, closing at 850/dollar. This rebound comes two days after the Central Bank of Nigeria (CBN) announced…
The banking landscape in Tanzania has witnessed significant consolidation over the past five years, resulting in the disappearance of 15 banks. The number of banks in the country dropped from…
Nigeria’s annual inflation rate has surged to 24.08% in July, marking its highest level in nearly two decades and worsening the country’s cost-of-living crisis. The inflation rate was already at…
Major consumer goods companies in Nigeria, especially in the fast-moving consumer goods (FMCG) sector, have reported substantial net foreign exchange losses following the country’s move to unify its exchange rates.…
The Accelerate Disability Inclusion in Emergencies Forum (ADIE) has called on President Bola Tinubu to revert the value-added tax (VAT) from 7.5% to 5% by September 2023. The forum, which…
The proposed national carrier of Nigeria, Nigeria Air, may face further delays in commencing operations as it lacks an Airline Operator’s Certificate (AOC). The Airline Operators of Nigeria has indicated…
The Nigerian Federal Government is reportedly exploring the possibility of selling stakes in around 20 state-run companies as part of efforts to raise funds and enhance governance in these entities.…
Trade relations between Ghana and the United States of America (USA) have demonstrated remarkable resilience, with bilateral trade in goods reaching an unprecedented $3.7 billion last year. This robust trade…
In an unexpected policy reversal, the government of Kenya has reintroduced fuel subsidies in response to surging pump prices triggered by a recent influx of cheaper fuel consignments. The Energy…
Safaricom, a prominent telecommunications company in Kenya, has gained the Central Bank of Kenya’s (CBK) endorsement to significantly raise the daily transaction limits on its mobile money platform, M-Pesa. The…
Oil marketers in Kenya are engaged in discussions with the government to shield themselves from foreign exchange losses caused by the depreciation of the Kenyan shilling against the US dollar.…