Real Time Financial News Website
Olufemi Otedola, chairman of FBN Holdings, has acquired an additional 546,674,034 shares through Calvados Global Services Limited at N21.97 per share, totaling N12.01 billion. This purchase on June 20 raises…
Africa Global Logistics (AGL), formerly Bolloré Africa Logistics, has officially launched in Nigeria, aiming to revolutionize the country’s logistics landscape and drive economic growth. At the unveiling ceremony in Lagos,…
Fidelity Bank Plc has announced a capital-raising initiative of N127.10 billion to enhance its market position and expand its international presence. This initiative was highlighted at an event held at…
The West Indian Ocean Cable Company (WIOCC) has secured $41 million in debt funding led by IFC and Proparco to expand its data centre infrastructure in Nigeria, South Africa, and…
The Nigerian government’s cash transfer program, supported by an $800 million World Bank loan, has reached over three million poor and vulnerable households as of May 2024. However, a significant…
Switzerland’s financial regulations need strengthening after UBS’s takeover of Credit Suisse, according to the Swiss National Bank (SNB). The SNB emphasized the need for tougher capital and liquidity requirements to…
Honeywell has agreed to purchase aerospace and defense technology firm CAES Systems from Advent International for $1.9 billion in an all-cash deal. This acquisition, Honeywell’s second recent move to strengthen…
WestJet Airlines is working to return to normal operations following the rescindment of a strike notice by the union representing its maintenance engineers. Both parties have agreed to return to…
Guzman Y Gomez (GYG.AX), a Mexican food chain, delivered Australia’s best initial public offering (IPO) debut in three years, with shares surging over one-third on their first trading day. The…
Citigroup (C.N) is poised to expand its business in Europe despite the continent’s political volatility, which has deterred investors, according to Ignacio Gutierrez-Orrantia, the bank’s new head for the region.…
Month-on-month, the price increased by 9.75%, up from N701.24 in April 2024. The report highlights that the national average retail price for petrol in May 2024 was N769.62, a significant…
The combined profit of Presco Plc and Okomu Oil Palm Company Plc soared by 94.32% in the first quarter of 2024 amidst economic fluctuations. The surge is attributed to inflationary…
The World Bank has disbursed an $800 million palliative loan to assist poor and vulnerable households affected by recent government policies, such as the removal of fuel subsidies. According to…
During the CRC Finance and Credit Conference 2024 in Lagos, CRC Credit Bureau Limited revealed that Nigeria’s credit penetration has risen to 14%, largely due to its efforts. Despite this…
The Nigeria Customs Service (NCS) has reported a significant 74% growth in revenue collection, reaching N4.49 trillion between June 2023 and May 2024, compared to N2.58 trillion in the previous…
Aradel Holdings Plc, an indigenous energy company, has announced a remarkable increase in its crude oil and gas production during the first quarter of 2024. Crude oil production surged by…
Investors on the Nigerian Exchange faced losses totaling approximately N47 billion as trading resumed after the two-day Eid al-Fitr holiday. The All-Share Index and market capitalization both experienced a decline…
Over the past year, the Federal Government of Nigeria has borrowed a total of $4.95 billion in loans from the World Bank, leading to a rise in the nation’s public…
The Sustainable Energy for All (SEforALL) Governance Board has approved the reappointment of Ms. Damilola Ogunbiyi for a second term of five years as Chief Executive Officer. Under her leadership,…
In collaboration with Information Technology (IT) firms, the World Bank and the federal government have trained 496 young Nigerians in Web and Mobile App Development, comprising 218 males and 278…
Nigeria’s total trade with the United Kingdom declined by 25% in the first quarter of 2024, despite higher values from the naira devaluation, according to the National Bureau of Statistics…
The Lagos State Government will create an Aviation Unit within the Ministry of Transportation to enhance oversight of the aviation sector as part of the new Lagos State Transport Policy.…
President Biden has granted legal status and a streamlined pathway to U.S. residency and citizenship for about half a million undocumented immigrants married to American citizens. This new policy, set…
The Lagos State Government has set an ambitious target to significantly reduce carbon emissions in public transportation, aiming for 52% of buses in the Bus Rapid Transit (BRT) system to…
The United Nations World Food Program (WFP) has partnered with Nigeria and other West and Central African countries to launch this year’s food assistance program for the lean season, which…
The Board of Champion Breweries Plc has announced the completion of an 86.5% stake acquisition by EnjoyCorp Limited. This acquisition was achieved through the purchase of 100% shareholding in The…
Nigeria’s Dangote Refinery is set to dispatch its first shipment of low-sulfur straight-run fuel oil (LSSR) to Singapore, marking its debut into the Asian market. According to ship tracking data…
As major multinationals from the US and Europe exit Nigeria, Asian and local companies are stepping in to fill the void. Recently, Diageo Plc sold its controlling stake in Guinness…
The increase in electric vehicle (EV) sales in major importers of Nigerian crude oil, such as France, Spain, India, and the United States, is posing a significant threat to Nigeria’s…
Nigeria has improved its standing in the World Bank Logistics Performance Index (LPI), rising from 91st position in 2022 to 88th in 2023 out of 141 countries. The LPI serves…