Real Time Financial News Website
KuCoin, a prominent cryptocurrency exchange operating in Nigeria, has announced the implementation of a 7.5% Value-Added Tax (VAT) on transaction fees starting from July 8, 2024. This decision follows recent…
Students of the University of Benin (UNIBEN) staged a protest on Wednesday, blocking the Benin-Ore Highway to demand an end to weeks of power outage on their campus. The outage,…
Governor Babajide Sanwo-Olu of Lagos State announced plans to establish a Sovereign Investment Fund during a meeting with the Nigeria Sovereign Investment Authority (NSIA). This fund aims to strategically invest…
In the early morning trading session, Bitcoin faced a 3% decline in its price before recovering to trade around $58.8K during the Asian market hours. Other cryptocurrencies like Solana and…
Asian stocks rose on Wednesday following remarks by Federal Reserve Chair Jerome Powell, indicating potential upcoming U.S. rate cuts. The MSCI Asia-Pacific index, excluding Japan, increased by 0.64%, driven by…
British investors injected a record £11.4 billion into equity funds during the first six months of 2024, driven by the expectation of further central bank interest rate cuts, according to…
Nippon Steel’s Vice Chairman, Takahiro Mori, will travel to the United States next week to discuss the proposed $15 billion acquisition of U.S. Steel, the company announced on Wednesday. This…
Aliko Dangote, Chairman of the Dangote Group, criticized the Central Bank of Nigeria’s (CBN) decision to raise the interest rate to nearly 30% during a summit organized by the Manufacturers…
Access Holdings has launched a rights issue of 17.7 billion ordinary shares at N19.75 per share, totaling N351 billion, aimed at enhancing its working capital. Chairman Aigboje Aig-Imoukhuede emphasized the…
The Nigerian government has cleared a backlog of debts amounting to $850 million owed to European airlines, as announced by EU Ambassador to Nigeria and ECOWAS, Samuela Isopi, at the…
Siraj Abdullahi, executive director of the Zungeru hydroelectric dam in Niger state, refuted reports of an explosion at the facility. These reports claimed that a Chinese engineer was injured during…
Ade Adefeko, director of corporate and regulatory affairs at Olam Agri, has called for urgent measures to address Nigeria’s worsening food crisis. In an interview with Arise Television, Adefeko cited…
The Nigerian Senate has passed a bill for a second reading that proposes granting all persons, including foreigners residing in Nigeria, the right to obtain and use a National Identification…
Aliko Dangote, Chairman of the Dangote Group, strongly criticized the Central Bank of Nigeria (CBN) for increasing the interest rate to nearly 30% during his speech at a summit organized…
China’s BYD reported a 21% increase in electric vehicle (EV) sales for the second quarter, bringing its total to 426,039 EVs sold from April to June. This is just under…
Air Canada announced on Tuesday an agreement to receive eight Boeing 737 MAX 8 jets from lessor BOC Aviation. These aircraft are scheduled for delivery in 2024 and will undergo…
The South African rand continued its decline on Tuesday, trading at 18.6325 against the dollar, a 1.5% drop from the previous close. This follows a volatile start to the week…
In 2024, the Biden administration revoked eight more licenses that previously allowed U.S. companies to supply goods to Chinese telecom giant Huawei, aiming to increase pressure on the company. This…
In May, U.S. job openings increased by 221,000 to 8.140 million, indicating a modest rebound following significant declines in the previous two months. This rise, reported by the Labor Department’s…
The Nigerian government’s Nigeria Air project remains suspended as Minister of Aviation and Aerospace Development, Festus Keyamo, awaits President Bola Tinubu’s decision. This announcement was reaffirmed by Tunde Moshood, the…
In the fourth quarter of 2023, Nigeria saw a 2.62% increase in capital importation, reaching $1.09 billion, compared to the same period the previous year. This marked a 66.27% rise…
PricewaterhouseCoopers International Limited (PWC) has reported that Nigeria’s public debt soared to N121.67 trillion in the first quarter of 2024. The professional services firm emphasized that increasing debt without corresponding…
Credit to the Nigerian government experienced a substantial month-on-month increase of N8.4 trillion, rising by 42 percent to N28.4 trillion in May, up from N19.98 trillion in April, according to…
Australia has significantly increased student visa application fees from $710 to $1,600, effective July 1, 2024, marking a 225% hike. This increase makes Australia the most expensive country for student…
The Nigerian Exchange (NGX) achieved a significant growth of 33.81% in the first half of 2024, with the All-Share Index (ASI) climbing from 74,773.77 points to 100,057.49 points. This growth,…
Coronation Insurance Plc has reported an impressive year-on-year profit growth of 192% for the fiscal year 2023. According to the group’s audited financial statement, the profit after tax reached N1.82…
Nigeria’s telecommunications sector attracted $191.5 million in Foreign Direct Investments (FDIs) in Q1 2024. According to the National Bureau of Statistics (NBS), this represents a 769% increase compared to $22.05…
Nigeria’s new Dangote oil refinery is increasing gasoil exports to West Africa, capturing market share from European refiners. The $20 billion refinery, still awaiting the restart of units to produce…
The World Bank is restructuring Nigeria’s Digital Identification for Development (ID4D) project to secure the full $430 million pledged by financiers, including the French Development Agency (AFD) and the European…
Toyota Nigeria Limited (TNL) announced plans to introduce three electric vehicles in Nigeria over the next three years. This aligns with the government’s green deal initiative to promote sustainable practices.…