Real Time Financial News Website
Dangote Oil Refinery’s much-anticipated entry into the petrol supply market in July might face delays due to a shortage of crude oil, according to industry sources. The refinery, with a…
The Central Bank of Nigeria (CBN) has announced new measures aimed at enhancing naira liquidity and increasing diaspora remittances. According to a recent circular, eligible International Money Transfer Operators (IMTOs)…
Bureau De Change (BDC) operators in Nigeria have yet to comply with the new operational guidelines issued by the Central Bank of Nigeria (CBN) three weeks ago, according to findings…
The Corporate Affairs Commission (CAC) has introduced a Special Registration Portal (SRP) that enables business registration within 24 hours, according to CAC ambassador Michael Nwabufo. Speaking in Lagos, Nwabufo highlighted…
U.S. prosecutors are urging the Justice Department to bring criminal charges against Boeing, alleging the company breached a 2021 settlement related to two fatal 737 MAX crashes, insiders told Reuters.…
Japan is prepared to intervene against excessive market movements as the yen approaches 160 to the dollar, top currency diplomat Masato Kanda said. Finance Minister Shunichi Suzuki also stressed the…
The EU has charged Apple with breaching tech rules by preventing app developers from steering consumers to alternative offers. This charge, based on the Digital Markets Act (DMA), could lead…
A fire broke out at a lithium battery manufacturing plant in Hwaseong, South Korea, on Monday, resulting in multiple fatalities. The blaze, largely extinguished, started around 10:30 a.m. following a…
Ahmed Dangiwa, the Minister of Housing and Urban Development, has been elected as the first chairman of the Financial Caucus of African Ministers of Housing and Urban Development. The election…
FBN Holdings reported a significant 181.43% increase in gross earnings to N1.60 trillion for Q1 2024. Interest income contributed 60% of total earnings, while non-interest income surged by 153.67% to…
Caverton Offshore Support Group’s losses after tax worsened by 146.79% to N12.75 billion at the end of 2023, compared to N5.17 billion in the previous year. This marks the third…
Farmers and stakeholders have criticized the rising food prices in Nigeria, despite the federal government allocating over N1.25 trillion to the Ministry of Agriculture and Food Security over the past…
Forex turnover in Nigeria’s official market surged to $23.29 billion over six months, driven by Central Bank of Nigeria reforms. The naira traded between N980 and N1,500 per dollar from…
NOVA Merchant Bank Limited has obtained approval to transition into a national commercial bank, announced Phillips Oduoza, the Board Chairman. Full commercial operations are set to commence in July, starting…
Aiteo Eastern Exploration and Production Company (AEEPCO) has resumed production at Oil Mining License (OML 29) in the Nembe swamp field, Bayelsa State, following a shutdown due to an oil…
The Minister of Aviation and Aerospace Development, Festus Keyamo, acknowledged that the problem of extortion by officials at Nigeria’s airports is beyond the ministry’s control. He assured the public that…
The Nigerian National Petroleum Company Limited (NNPC) has postponed the completion date of the $700 million Obiafu-Obrikom-Oben (OB3) gas pipeline project from March 2024 to August 2024. This update follows…
The Federal Government of Nigeria spent $15.55 billion on debt servicing between 2019 and 2024, according to data from the Central Bank of Nigeria. Payments rose significantly from $588.33 million…
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, has accused International Oil Companies (IOCs) in Nigeria of attempting to undermine the Dangote Oil Refinery and Petrochemicals.…
Protests have erupted across Kenya following the approval of significant tax increases by lawmakers, which have proven unpopular even among supporters of President William Ruto. The tax on petroleum products…
China is advocating for Visa and Mastercard to decrease their bank card transaction fees in the country, aiming to boost spending by foreign visitors, Bloomberg News reported, citing a source…
Electric vehicle (EV) sales in Southeast Asia have more than doubled in the January to March quarter compared to the previous year, with Chinese manufacturer BYD and Vietnamese company VinFast…
Mary Erdoes, CEO of asset and wealth management at JPMorgan Chase, expressed optimism about the bank’s business prospects in China following a challenging period, citing signs of an improving economy.…
In a significant move to enhance Nigeria’s oil and gas production, NNPC and TotalEnergies have announced a $550 million Final Investment Decision (FID) on the Ubeta Field Development Project. Discovered…
First Bank of Nigeria Limited has officially named Olusegun Alebiosu as its new Managing Director and Chief Executive Officer. Alebiosu had been serving in an acting capacity since April 2024,…
Toyota has introduced the 2025 Toyota Crown Signia, a new addition to the Crown family that promises “effortless elegance” and versatility for modern car enthusiasts. This new hybrid-powered crossover, positioned…
The average retail price for refilling a 5kg Liquefied Petroleum Gas (LPG) cylinder, commonly known as cooking gas, has surged by 70.12% year-on-year, reaching N7,418.45 in May 2024 compared to…
The Federal Government of Nigeria’s deficit spending rose by 8.0% year-on-year (YoY) to N1.07 trillion in January 2024, up from N980 billion in January 2023, according to the Central Bank…
Nigeria LNG Limited has announced that its $4.3 billion Train-7 project is now 67% complete. The project has achieved 45 million man-hours without any Lost Time Injury (LTI) and has…
The Federal Government of Nigeria aims to raise at least N450 billion through its June 2024 bond offer, as announced by the Debt Management Office (DMO). The bond auction, scheduled…