Real Time Financial News Website
The Federal Government of Nigeria is pursuing a $500 million loan from the World Bank to enhance rural roads and agricultural marketing. This funding is part of the Nigeria Rural…
Bitwise Asset Management, a prominent investor in Bitcoin Exchange Traded Funds (ETF), has projected that the combined growth of the cryptocurrency and artificial intelligence (AI) industries could contribute an astounding…
Africa’s richest individual, Aliko Dangote, disclosed that his company secured approximately $5.5 billion in bank loans from domestic banks across Africa to build the Dangote refinery. Speaking at the ‘AfriCaribbean…
The Chartered Institute of Bankers of Nigeria (CIBN) has reassured bank customers of the stability and security of the Nigerian banking sector. This reassurance came in response to claims that…
Sixteen out of twenty-nine directors at the Central Bank of Nigeria (CBN) have been relieved of their duties, leaving only nine departmental directors in place. This restructuring follows the implementation…
Nigeria’s oil production saw a downturn in May, decreasing to 1.25 million barrels per day (mbpd) from 1.28 mbpd in April, according to OPEC. This drop marks a concerning trend…
A high court in Lagos has issued an interim order preventing ten electricity distribution companies (DisCos) and the Nigerian Electricity Regulatory Commission (NERC) from increasing tariffs. Presiding Judge Lewis Allagoa…
Nigeria’s Company Income Tax (CIT) has seen a significant decline, dropping to N984.61 billion in the first quarter of 2024, a 12.87% decrease from the N1.13 trillion collected in the…
Nigeria’s plans to issue Eurobonds this year, a key strategy to strengthen government finances, are facing significant uncertainties. Initially announced by Finance Minister Wale Edun in January, the issuance aimed…
TEXT OF PRESIDENT BOLA TINUBU’S NATIONAL BROADCAST ON THE 25TH ANNIVERSARY OF UNBROKEN DEMOCRACY IN NIGERIA, DEMOCRACY DAY 12TH JUNE 2024. 1. My fellow Nigerians, let me begin by congratulating…
Tolaram, a Singapore-based holding company, is set to acquire Diageo’s 58.02 percent stake in Guinness Nigeria for approximately N103 billion ($70 million). The acquisition agreement was signed on Tuesday. Guinness…
Competition on the popular Lagos-London route has intensified, with foreign airlines significantly reducing fares. British Airways now offers economy class return tickets at N1.6 million, a million naira less than…
Aliko Dangote, the Nigerian billionaire behind the Dangote Group, recently spoke about the challenges of constructing Africa’s largest oil refinery in Lekki, Nigeria. Despite warnings and unforeseen difficulties, Dangote persevered…
President Bola Tinubu has appointed Dr. Nkiruka Maduekwe as the interim Director-General/Chief Executive Officer of the National Council on Climate Change (NCCC). This appointment is pending confirmation by the NCCC…
Dangote Sinotruk West Africa inaugurated a completely knocked down (CKD) truck assembly plant in Ikeja, Lagos state. The event, held on Sunday, saw the presence of Senate President Godswill Akpabio…
A group of recently dismissed employees from the Central Bank of Nigeria (CBN) is challenging the manner of their termination, calling for their immediate reinstatement. They accuse the CBN management…
Zenith Bank Plc, a leader in Nigeria’s banking sector, has appointed Adaora Umeoji as its new Group Managing Director and Chief Executive Officer. Umeoji’s appointment signals a commitment to gender…
Saudi Arabia successfully sold shares in oil giant Aramco, raising over $11.2 billion. The sale, priced towards the lower end of expectations, is intended to fund government spending plans and…
Samsung Electronics’ workers’ union staged the company’s first-ever strike on Friday, demanding higher wages. While the walkout is unlikely to affect current chip production, it adds pressure to Samsung as…
The rise of artificial intelligence (AI) in banking is a double-edged sword, according to European banking executives. While AI offers exciting possibilities for fraud detection, customer service, and more, it…
Investors are analyzing US credit card spending data to understand which retailers are likely to perform well this summer. While some shoppers are being selective and prioritizing non-essential items, trends…
China’s exports grew for a second consecutive month in May, offering a glimmer of hope for the country’s economic recovery. However, concerns remain about the sustainability of this growth due…
Global markets are currently in a holding pattern, awaiting the release of the US employment report. This report, due out today, is expected to provide key information on the health…
Global stock markets are currently in a wait-and-see mode, with investors closely monitoring the upcoming US jobs report. This report is expected to influence the Federal Reserve’s decision on interest…
Two of Japan’s largest banks, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG), are reportedly planning to sell a combined $8.5 billion worth of shares in Toyota…
A recent analysis of financial statements from 20 leading Nigerian companies reveals a significant increase in their cost of sales. The year-on-year increase stands at 28.8%, attributed to sustained inflationary…
Enterprise Life Nigeria, a leading insurance provider, is calling for the industry to embrace digital adoption. Their CEO, Mrs. Funmi Omo, believes digital technologies are crucial to improving financial inclusion…
The Secretary to the Government of the Federation (SGF), Sen. George Akume, announced that the federal government will allocat N200 billion to enhance food security by supporting the cultivation of…
The Nigerian Police Force has declared Tijani, an employee of First Bank of Nigeria Limited, wanted for multiple offenses, including criminal conspiracy, breach of trust, cheating, and banking fraud involving…
Authorities in Australia have warned that new measures to limit international students could severely impact the $48 billion international education sector, potentially jeopardizing 250,000 jobs reliant on income from foreign…