Real Time Financial News Website
Nigeria’s oil production was significantly disrupted due to a nationwide strike by oil workers protesting the government’s minimum wage proposal. This one-day strike is estimated to have cost the country…
The International Labour Organization (ILO) predicts a small decline in global unemployment for 2024, reaching 4.9% compared to 5.0% in 2023. This revision is lower than their previous forecast of…
The Atlanta Black Chambers (ABC), a prominent organization supporting Black-owned businesses, has appointed Samuel Adeyemi to a key leadership role. Adeyemi, currently the Public Relations Officer of the Lagos chapter…
Veritas Glanvills Pensions Limited (VG Pensions) has introduced an innovative customer service solution – an AI-powered chatbot named Vicki. This 24/7 chatbot is designed to provide clients with convenient access…
Several passengers on a recent Abuja-bound Air Peace flight claim their belongings went missing during the trip. A Nigerian passenger, Lere Adams, reported that his phone, plugged into a power…
European aviation regulators are proposing a new level of cooperation with their American counterparts. The European Union Aviation Safety Agency (EASA) will ask the Federal Aviation Administration (FAA) to participate…
Illinois farmers like Mark Tuttle are planting more soybeans and less corn this year in a desperate attempt to minimize losses. This shift comes amid a slump in crop prices…
The U.S. job market appears to be cooling down, with job openings dropping to a three-year low in April. This decrease could be a positive development in the fight against…
Nuctech, a Chinese company manufacturing security scanners, is suing the European Commission after its offices were raided on suspicion of receiving illegal state subsidies. The company denies the allegations and…
Boeing’s outgoing CEO David Calhoun is stepping down by the end of the year. The board is actively searching for his replacement, with speculation centering on Stephanie Pope, head of…
Attention Toyota and Lexus owners! There’s a recall on certain 2022-2023 Tundra pickup trucks and LX 600 SUVs equipped with the V35A six-cylinder engine. The National Highway Traffic Safety Administration…
Paramount Global is undergoing a major shakeup. Facing declining revenue from traditional television and a yet-to-be-profitable streaming service, the company announced a restructuring plan with $500 million in cost cuts,…
Flour Mills of Nigeria (FMN), a leading food and agro-allied company in Nigeria, announced impressive financial results for the year ending March 31, 2024. Their revenue surged by 49% to…
The British government is eager to leverage a trade scheme designed to benefit developing countries like Nigeria. The Developing Countries Trading Scheme (DCTS) offers lower or zero tariffs on a…
The federal government has approved a new policy exempting small businesses from withholding tax. This means businesses earning N25 million or less annually will no longer need to withhold tax…
The Centre for Social and Economic Rights (CSER), a Nigerian civil society organization, has strongly condemned the recent strike by organized labor unions. They accuse the unions of engaging in…
In a move welcomed by Nigerian fintech users, the Central Bank of Nigeria (CBN) has lifted its ban on onboarding new customers for five prominent companies: OPay, Moniepoint, Kuda, Palmpay,…
In a move to improve its financial health, the Federal Mortgage Bank of Nigeria (FMBN) has launched a major loan recovery initiative. On Monday, they inaugurated seven specialized task teams…
Building strong debt management skills is crucial for West African nations, according to Nigeria’s Central Bank Governor, Olayemi Cardoso. Speaking at a training on Annual Borrowing Plans (ABPs) in Abuja,…
The Central Bank of Nigeria (CBN) has revoked the operating license of Heritage Bank due to ongoing financial struggles. The Nigeria Deposit Insurance Corporation (NDIC) has begun the process of…
Nigeria’s Presidential Fiscal Policy and Tax Reforms Committee is proposing significant changes to tax collection. The Committee Chair, Taiwo Oyedele, called for a reduction in tax collection fees for firms…
The Nigerian Stock Exchange (NGX) opened the week on a down note, with investors losing N103 billion. Sell-offs in major banking stocks and cautious trading contributed to the decline. The…
Nigerian labor unions have called off their nationwide strike after a productive meeting with the federal government. The government pledged to increase the minimum wage to a figure exceeding N60,000,…
Despite claims of subsidy removal, the landing cost of petrol in Nigeria has risen sharply over the past year. In May 2024, the cost to import petrol reached N1,026.71 per…
The Nigerian Naira appreciated against the US dollar at the official foreign exchange market on Monday, even though there was a significant decrease in dollar sales. The naira closed at…
Last week, Donald Trump became the first former president to be convicted of a felony, but Wall Street remains optimistic about his chances in the upcoming November election. Investors are…
The Nigerian equities market showed resilience in May, posting a marginal gain of N619 billion despite the Central Bank of Nigeria’s (CBN) ongoing interest rate hikes. This represents a significant…
In the first year of President Bola Tinubu’s administration, the Federal Government of Nigeria borrowed N20.1 trillion from domestic investors, marking a 117% year-on-year increase from the previous year. This…
The Central Bank of Nigeria (CBN) announced that more shariah-compliant banks are expected to emerge due to the economic benefits they have brought to the country. CBN Governor Olayemi Michael…
In May, the cryptocurrency industry faced significant losses totaling $42.6 million due to various hacking schemes, including flash loan attacks, exit scams, and exploits. Despite these successful hacks, blockchain security…