Real Time Financial News Website
Freight services have resumed on the rehabilitated Lagos-Kano narrow gauge railway line, announced by the Minister of Transportation, Saidu Alkali, on June 6, 2024. A successful trial run saw numerous…
This article explores five of the most promising airdrop campaigns happening in June. Airdrops are a way for crypto projects to distribute free tokens to users, and can be a…
The China Civil Engineering Construction Company (CCECC) has revealed that it generated 10,000 jobs during the construction of the Abuja Rail Mass Transit project (Phase 1), valued at $823 million.…
Nigerian modular refineries, facing an unreliable domestic crude oil supply, are exploring imports from the United States. This comes as investors hesitate to fund refinery projects without a guaranteed source…
Data from the International Monetary Fund’s World Economic Outlook reveals an increase in the country’s current account balance, reaching $1.432 billion in 2024. This positive trend indicates a growing economy…
With just days left before the expiration of the ultimatum given by organized labor, negotiations on the minimum wage remain inconclusive as the federal government has yet to present its…
Airtel Africa is set to pay a total dividend of N276 billion ($224 million) for the fiscal year ending March 31, 2024. This comes despite the company reporting a net…
Despite a staggering 704% increase in pre-tax profits, a closer look reveals a need for improvement in core business operations for AXA Mansard Insurance Plc (Mansard). The substantial profit surge…
Households in Nigeria are celebrating a significant decrease in the price of Liquefied Petroleum Gas (LPG), also known as cooking gas. The price has fallen from N1,500 per kilogram to…
The Nigerian Deposit Insurance Corporation (NDIC) has begun the process of reimbursing depositors of Heritage Bank, whose license was revoked by the Central Bank of Nigeria due to financial performance…
In an effort to combat inflation, the Nigerian government is proposing a six-month suspension of import duties on essential goods. This includes staple food items, drugs, and other necessities. The…
Former Vice President Atiku Abubakar has accused President Bola Ahmed Tinubu of misleading Nigerians about the administration’s stance on petrol subsidy. Atiku claims that despite public declarations of subsidy removal,…
First City Monument Bank (FCMB) has entered into a $15 million Master Murabaha Agreement with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB)…
In response to the Central Bank of Nigeria’s revised minimum capital requirements for commercial banks introduced in March 2024, Fidelity Bank Plc has announced plans to raise ¦127.1 billion through…
The Federal Government is preparing to seek approval from the National Assembly for a N6.6 trillion supplementary budget to fund the Accelerated Stabilization and Advancement Plan (ASAP). This is aimed…
Nigeria’s current account balance has achieved a surplus of $1.432 billion in 2024, an improvement from the $1.21 billion surplus recorded in 2023, according to the International Monetary Fund’s (IMF)…
Nigeria’s 2024 national budget is under significant funding pressure due to a sustained decline in oil prices and stagnant crude oil output. With over 70% of the national budget funded…
Fidelity Bank Plc is set to raise up to N127.1 billion via a Rights Issue and Public Offer, as part of its strategy to meet the Central Bank of Nigeria’s…
The latest Nigerian Treasury Bill auction on June 5th, 2024 revealed a strong preference for longer-term investments. Investors heavily subscribed to the 364-day bills, with total offers exceeding N677 billion,…
FCMB Group Plc shareholders have approved a significant increase in the company’s capital base. This move will allow the financial institution to raise an additional N150 billion to fuel its…
Nigeria’s government is launching a Compressed Natural Gas (CNG) initiative to reduce reliance on expensive petrol imports and promote cleaner energy. This program is expected to save the country $4.4…
Foreign airlines are flocking back to Nigeria after the government cleared nearly all of their previously trapped funds. This positive development is leading to a significant increase in flight options…
Nigeria’s five-day-old labor strike protesting low wages has been called off to allow for continued negotiations between unions and the government. The NLC and TUC unions had demanded a significant…
Nigeria’s naira remained relatively stable on Tuesday across both official and unofficial foreign exchange markets. Despite a significant rise (94.46%) in dollar sales at the official market, the naira closed…
Fitch Ratings, an international credit agency, forecasts the Nigerian naira to end 2024 at 1450 per dollar. They acknowledge the recent volatility but anticipate it to decrease by Q3 due…
Nigeria’s oil and gas sector, despite boasting Africa’s largest oil reserves, is struggling to attract investment due to excessive bureaucracy. A complex web of regulations involving up to 20 government…
Nigeria’s tripartite committee tasked with negotiating a new minimum wage has temporarily halted discussions to allow for wider consultations with stakeholders. This move comes after a meeting with President Bola…
Nigerian Customs officers intercepted a large shipment of cannabis sativa worth an estimated N96 million during a patrol along the Bar Beach in Lagos. The 17 sacks containing 1,257 parcels…
Nigeria’s oil regulator, NUPRC, is stepping in to ensure international oil companies (IOCs) supply crude oil to the newly built Dangote refinery. This intervention follows complaints by Dangote Group Chairman…
Nigeria is making a strong push to transition towards Compressed Natural Gas (CNG) as a transportation fuel. The government aims to significantly reduce reliance on imported petrol and leverage the…