Real Time Financial News Website
The Nigerian Ports Authority (NPA) is implementing a new policy requiring exporters to fill out a “Nigeria Export Proceeds (NXP)” form before booking export trucks on the “Eto” platform. This…
Retail transactions on the Nigerian Exchange Limited (NGX) saw a significant drop of 54.89%, falling to N100.77 billion in April from N223.37 billion in March, as per the latest Domestic…
The World Bank, through its Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) program, has disbursed a $250,000 revolving loan to 10 vulnerable communities in Nasarawa State. This initiative aims to support…
FBN Holdings Plc. announced strong financial performance for the year ending December 2023. The company reported a record-breaking profit after tax of N310.4 billion, a significant increase from the previous…
Tony Elumelu, chairman of Transcorp Plc., urged the Nigerian government to fully privatize the power sector to enhance efficiency and innovation. He highlighted the partial privatization undertaken in 2013 as…
Dr. Ebenezer Onyeagwu, Group Managing Director/Chief Executive Officer of Zenith Bank Plc, has been recognized as the “Best Banking CEO of the Year in Africa” for the second consecutive year…
The Bank of Industry (BOI) has extended the application deadline for its Rural Area Program for Investment and Development (RAPID) program. This initiative offers loans to micro, small, and medium-sized…
The National Union of Air Transport Employees (NUATE) has strongly contested the reasons given by Turkish Airlines for dismissing seven Nigerian staff members. The union refutes the airline’s accusation that…
Soaring prices of imported vehicles are pushing Nigerian car buyers towards locally-used alternatives. The devaluation of the naira has significantly increased the cost of importing cars, making them unaffordable for…
Nigeria’s oil sector, a critical source of government revenue and foreign exchange, is experiencing a significant slowdown. The first quarter of 2024 saw oil GDP growth drop to 5.7%, a…
The Nigeria Labour Congress (NLC) is expected to present a new proposal for a minimum wage increase at a meeting of the federal government’s Tripartite Committee on Tuesday in Abuja.…
World stock markets edged higher on Monday as investors awaited key inflation data releases this week. This data could influence central bank decisions, with a potential European rate cut as…
The U.S. dollar remained stable on Monday but is poised for its first monthly decline this year. Investors are waiting on key inflation data from the U.S., Europe, and Japan…
Fiat’s owner, Stellantis, is set to unveil a hybrid version of its popular 500e electric car. Production of this new model will take place at the Mirafiori plant in Italy,…
Elon Musk’s artificial intelligence startup, xAI, has secured a massive $6 billion investment, propelling its valuation to $24 billion. This funding round reflects investor confidence in xAI’s potential to compete…
The United Bank for Africa (UBA) has appointed Emmanuel Nnorom as a new non-executive director to its board. Nnorom’s appointment, effective April 30, 2024, and approved by the Central Bank…
Nigeria’s major brewers face financial difficulties after a combined loss of N169.7 billion in the first quarter of 2024. This significant setback, compared to a total loss of N54.3 billion…
French oil giant TotalEnergies has passed over Nigeria for a second time, opting to invest $600 million in the Republic of Congo’s oil exploration and production. This decision comes after…
Royal Electronics is bringing a wave of innovation to Nigerian homes with the launch of five new product categories. These include air conditioners, refrigerators, washing machines, Google TVs, and built-in…
Nigeria’s telecommunications industry is reaping the rewards of significant investments in network infrastructure. MTN and Airtel, the country’s leading mobile network providers, have seen a substantial rise in service revenue…
The Central Bank of Nigeria (CBN) has commended Clement Oluwaranti Buari, Director of Strategy Management, for his 35 years of dedicated service upon his retirement on March 4th, 2024. CBN…
The United Bank for Africa (UBA) has announced a stellar performance for the 2023 financial year, achieving record highs in both gross revenue and profit. Gross revenue surged by an…
Nigerian stock market investors are feeling the pinch after the recent Monetary Policy Committee (MPC) meeting. Analysts predict continued asset reallocation away from equities due to the MPC’s decision to…
The Nigeria Employers’ Consultative Association (NECA) has rejected the Nigerian Labour Congress’ (NLC) demand for a N500,000 minimum wage, stating that current economic difficulties make it impossible for the private…
Nigerians are facing a new challenge in their quest for prepaid electricity meters. Following deregulation by the Nigerian Electricity Regulatory Commission, electricity distribution companies (DisCos) have significantly increased meter prices.…
Walmart is severing its partnership with Capital One, which issued its store-branded credit cards since 2019. This decision comes after a federal judge ruled in Walmart’s favor, allowing them to…
Eli Lilly is making a massive investment to address surging demand for its weight-loss and diabetes drugs, Zepbound and Mounjaro. The company announced an additional $5.3 billion for its new…
US equity funds saw a significant inflow of capital in the week ending May 22nd. This surge, totaling $9.9 billion, reflects investor optimism driven by two factors: signs of slowing…
US stocks opened higher on Friday, but the rally looks unlikely to sustain as the week draws to a close. The Dow Jones Industrial Average and the S&P 500 are…
Miles Guo, a Chinese businessman living in exile, is set to go on trial in Manhattan for allegedly defrauding investors and customers out of more than $1 billion. Prosecutors claim…