Real Time Financial News Website
The National Economic Summit Group (NESG) has raised concerns about the timing of the cybersecurity levy directive issued by the Central Bank of Nigeria (CBN), emphasizing that it should target…
The International Monetary Fund (IMF) has advised the Nigerian government against proposed amendments to the Act establishing the Central Bank of Nigeria (CBN), emphasizing the need to strengthen the apex…
The Nigerian Ports Authority (NPA), in partnership with Truck Transit Parks Limited (TTP), has initiated the implementation of Electronic tags (E-tags) to enhance cargo delivery and streamline operations at ports.…
The International Monetary Fund (IMF) has advised against proposed amendments to the Act establishing the Central Bank of Nigeria (CBN), emphasizing the need to enhance the apex bank’s strength. This…
The House of Representatives has called on Vice President Kashim Shettima, who chairs the Board of the Niger Delta Power Holding Company (NDPHC), to convene an emergency meeting aimed at…
Data from the Central Bank of Nigeria (CBN) reveals that Nigeria spent approximately 70% of its dollar payments in the first quarter of 2024 to service external debts. Out of…
The Securities and Exchange Commission (SEC) has proposed new rules governing the issuance and allotment of securities by private companies, introducing strict penalties for violations. According to the proposed rules,…
At Guaranty Trust Holding Company (GTCO) Plc’s third Annual General Meeting, shareholders approved the establishment of a capital raising programme totaling $750 million through various means such as public offerings,…
President Bola Tinubu, represented by Sen. George Akume, has directed the swift completion of all unfinished inland dry ports across Nigeria to enhance commerce, international trade, and job creation. This…
At the Annual Investment Meeting (AIM) in Abu Dhabi, Uganda was awarded the top investment destination in Africa, attracting over $1 billion in Foreign Direct Investment (FDI) from the United…
Nigeria is contemplating reinstating a previously suspended telecom tax and other fiscal measures to secure a new $750 million loan from the World Bank. The Stakeholder Engagement Plan for Nigeria’s…
Canada’s anti-money laundering agency, FINTRAC, has imposed a fine of almost C$6 million on cryptocurrency exchange Binance for breaching money laundering and terrorist financing laws. Binance, which ceased operations in…
The Nigerian Communications Commission (NCC) has entered into a Memorandum of Understanding with Nokia Solutions and Networks Nigeria to provide training on the latest 4G/5G radio and transmission technologies to…
The Securities and Exchange Commission (SEC) has introduced new regulations governing the issuance and allotment of securities by private companies. According to a press statement, violators of these rules face…
FBN Holdings has confirmed the departure of Mr. Tunde Hassan-Odukale as Chairman of First Bank of Nigeria Limited following the expiration of his tenure. Mr. Ebenezer Olufowose, who previously served…
TikTok announced plans to implement “Content Credentials,” a technology developed by Adobe, to label images and videos created by artificial intelligence (AI) on its platform. This move aims to increase…
Airbnb shares (ABNB.O) plummeted more than 8% in pre-market trading on Thursday following disappointing second-quarter forecasts, sparking concerns among investors about slowing growth at the vacation rental firm despite a…
According to Reuters’ calculations based on official data from the German statistics office, the United States has surpassed China as Germany’s most important trading partner in the first quarter of…
The Australian Tax Office (ATO) is making moves to ensure people trading cryptocurrencies pay their taxes. They’ve asked crypto exchanges in the country to share details of over 1.2 million…
A Nigerian biotech startup called Syndicate Bio has teamed up with SophiaGenetics, a company specializing in advanced medical software, to bring state-of-the-art genomic testing to Africa for the first time.…
The PwC Annual Global CEO survey for West Africa reveals that over half of CEOs in the region expect their local economies to decline in 2024. This contrasts with their…
President Bola Tinubu, represented by Minister Yusuf Maitama Tuggar, has pledged improved power supply in Nigeria, leveraging the country’s abundant gas resources. This commitment was made at the U.S.-Africa Business…
The Africans in Diaspora Development Union (AFRIDU) has approached Nigeria’s Ministry of Interior seeking assistance in securing citizenship rights and visas on arrival for its members. During a visit to…
Disney and Warner Bros. Discovery have announced plans to introduce a streaming bundle featuring Disney+, Hulu, and Max, set to debut this summer. This marks a significant development in the…
The Association of Capital Market Academics of Nigeria (ACMAN) has voiced apprehension regarding the timing of the Central Bank of Nigeria’s (CBN) proposed 0.5% cybersecurity levy. ACMAN President, Professor Uche…
The Central Bank of Nigeria (CBN) has prolonged the suspension of processing fees on significant cash deposits until September 30, 2024. This decision affects deposits exceeding ₦500,000 for individuals and…
Airtel Africa’s fiscal year 2024 financial report reflects a $1.7 billion loss attributed to currency devaluations in Nigeria and Malawi. Despite a strong 20.9% growth in service revenues when measured…
The presidential committee on fiscal policy and tax reforms has recommended an increase in the value-added tax (VAT) rate and a review of the revenue-sharing formula. Committee chairman Taiwo Oyedele…
Senator Ifeanyi Ubah, Chairman of the Senate Committee on Petroleum (Downstream), announced plans for two Nigerian refineries – Port Harcourt and Warri – to be fully operational by the end…
Transnational Corporation Plc (Transcorp Group) announced a remarkable 1,475 percent growth in Profit Before Tax (PBT) for the first quarter ended March 31, 2024, reaching N45.7 billion compared to N2.9…