Real Time Financial News Website
The Nigerian naira experienced depreciation at the official market, with the exchange rate reaching N1,416.57 to the dollar. Data from the FMDQ Exchange’s official trading platform revealed a significant loss…
Tunbosun Alake, the Commissioner for Innovation, Science, and Technology of Lagos State, announced at the 2024 US-Africa Business Summit in Dallas, Texas, that the state has attracted approximately $3 billion…
African Steel Limited has issued a statement debunking media reports alleging the shutdown of its Ikorodu Steel Factory by the Standards Organisation of Nigeria (SON) for standards infractions. According to…
The Managing Director and Country Chair of Shell Companies in Nigeria, Osagie Okunbor, has reaffirmed the organization’s dedication to Nigeria’s economic growth. In a briefing note for 2023, it was…
Melanie Ayoola, the Group Executive Director of Tranter IT, highlighted the potential of technology to revolutionize governance in Nigeria during the 2024 ManageEngine IT Gov Conference held in Lagos and…
The Biden administration is considering plans to regulate the export of advanced AI models, such as ChatGPT, as part of its strategy to safeguard U.S. AI technology from China. The…
U.S. stock index futures showed little movement on Wednesday following a period of strong gains that propelled the S&P 500 to over three-week highs. Investors are seeking clarity on the…
Telefonica Germany, a subsidiary of Spanish group Telefonica, plans to migrate one million 5G customers to Amazon Web Services (AWS) cloud later this month. This move, a global first, involves…
The Naira experienced depreciation against the US Dollar in both the parallel and Nigerian Foreign Exchange Market (NAFEM) on Tuesday. In the parallel market, the Naira declined to N1,415 per…
The Central Bank of Nigeria (CBN) has released an updated list of deposit money banks and other financial institutions as of April 26, 2024. The updated list includes seven commercial…
The petrol scarcity in Lagos is causing frustration among motorists, who face long commutes and struggle to find fuel for daily errands. Tunde Ayeni, a Lagos resident, describes the situation…
There are indications that Microsoft may close its African Development Centre (ADC) in Lagos, Nigeria. While there has been no official statement from Microsoft, industry sources suggest that the management…
Eight directors of Access Holdings, including the acting Group Chief Executive Officer, Bolaji Agbede, and Managing Director of Access Bank, Roosevelt Ogbonna, have been vested with approximately 23,883,790 units of…
The Nigerian government has pledged to continue its pursuit of a criminal case against cryptocurrency platform Binance and its officials following bribery allegations made by Binance CEO Richard Teng. Teng…
The Nigeria Labour Congress (NLC) has vehemently rejected the recent directive by the Central Bank of Nigeria (CBN) to impose a 0.5% Cybersecurity Levy on electronic transfers. NLC President Mr.…
Economic and Financial Crimes Commission (EFCC) operatives conducted arrests of Bureau De Change (BDC) operators at Wuse Zone 4 market on Tuesday, encountering resistance from traders. The operation, part of…
United Bank for Africa Plc (UBA) has reported a remarkable 110% Year-on-Year (YoY) increase in gross earnings to N570.2 billion for the first quarter of 2024 (Q1’24), compared to N271.1…
Stakeholders in the energy sector across Sub-Saharan Africa are gearing up to convene at the NOG Energy Week 2024, scheduled from June 30th to July 4th, 2024, at the International…
The Central Bank of Nigeria (CBN) has eased restrictions on the repatriation of oil and gas export proceeds by International Oil Companies (IOCs). In a recent circular, the CBN clarified…
Africa’s leading e-commerce group, Jumia, has significantly reduced its operating losses by 71% year over year to $8.3 million in the first quarter of 2024, compared to $28 million in…
In a collaborative effort, tech giants Microsoft and OpenAI have announced the creation of a $2 million Societal Resilience Fund aimed at addressing AI misinformation and enhancing global AI literacy.…
The African Union (AU) has highlighted the need for a $15 billion private sector investment to enhance local manufacturing of mineral fertilizers across Africa. In a statement released on May…
The Aliko Dangote Foundation (ADF) and the World Economic Forum (WEF) have unveiled the gifted individuals selected for the prestigious 2024 class of the World Economic Forum Young Global Leaders…
The Economic Community of West African States (ECOWAS) has announced plans to establish a standby counter-terrorism force with a budget of $2.4 billion. Heads of States from member countries have…
Shell has disclosed that it paid a total of $1.09 billion in corporate taxes and royalties to the Federal Government of Nigeria in 2023, demonstrating its substantial financial contribution to…
FBNBank Ghana has announced its name change to FirstBank Ghana, aligning with the identity, values, and vision of the FirstBank Group. This move aims to strengthen the bank’s commitment to…
GoSolr, a South African company, plans to increase its solar-generation capacity to 500 megawatts in the next four years, up from its current 70 megawatts. Backed by investments from African…
Apple introduced its latest chip, the M4, designed to excel in artificial intelligence tasks, in the iPad Pro model, a departure from its typical placement in Mac laptops. The move…
Walt Disney’s shares fell 8.5% in morning trading despite a surprise profit in its streaming entertainment division, as a drop in traditional TV business and weaker box office performance overshadowed…
According to data from the National Bureau of Statistics (NBS), the average prices of rice, garri, and beef experienced a 27.4 percent increases in March, the highest among selected food…