Real Time Financial News Website
Wema Bank Plc, one of Nigeria’s oldest commercial banks, plans to seek shareholders’ approval to raise N200 billion in capital at its upcoming annual general meeting (AGM) scheduled for May…
The Competition and Consumer Protection Tribunal in Abuja has directed MultiChoice Nigeria Limited to halt its planned increase in DSTV tariff. This order came in response to an application by…
Amos Prince Okey Ezemma, a Nigerian national, admitted guilt in a transnational inheritance fraud scheme that preyed on elderly and vulnerable individuals across the United States. Court documents revealed that…
As Nigerians grapple with fuel scarcity, over 9,000 oil marketers are at risk of losing their operating licenses. The Independent Petroleum Marketers Association of Nigeria (IPMAN) is urging the Nigerian…
The Federal Government has instructed Deposit Money Banks to commence the deduction of a 0.375 per cent stamp duty charge on all mortgage-backed loans and bonds. This directive, conveyed to…
The current petrol supply crisis in Nigeria has been attributed to seven daughter vessels, collectively carrying 150 million litres of petrol, being trapped at the Escravos channel in the Niger…
The Central Bank of Nigeria (CBN) has expressed worry over the recent decline in economic activities in the country. According to Bala Bello, the CBN’s deputy governor of Corporate Services,…
The Lagos State Government has announced that its Gross Domestic Product (GDP) has increased from N27 trillion to N41 trillion in just four years of Governor Babajide Sanwo-Olu’s administration. The…
Oil prices saw a rebound on Thursday after three consecutive days of decline, reaching their lowest levels since mid-March. Brent crude futures for July rose by 58 cents to $84.02…
The U.S. government is set to present its antitrust case against Alphabet’s Google in closing arguments on Thursday, concluding a trial that commenced on September 12. In this trial, Google,…
Peloton CEO Barry McCarthy is stepping down over a 15% reduction in the company’s global workforce due to decreased demand for its connected fitness equipment in the post-pandemic era. McCarthy,…
U.S. stock index futures rose on Thursday following the Federal Reserve’s decision to leave interest rates unchanged, easing concerns of imminent rate hikes. While Fed Chair Jerome Powell acknowledged persistent…
Landmark Beach management has deactivated its app and issued a statement addressing its customers regarding the current developments surrounding plans for demolition. The organization expressed understanding for the inconvenience caused…
President Bola Tinubu has affirmed that hardworking Nigerians deserve fair wages and better welfare. This message was conveyed in his Workers Day address on May 1, 2024, by his spokesperson,…
Tanzania and Kenya have finally resolved a trade dispute regarding the export of poultry and poultry products between the two countries, as announced by the East African Community (EAC). The…
The National President of the National Labour Congress (NLC), Joe Ajaero, has criticized the federal government’s increase of civil servants’ salaries by 35%, deeming it mischievous. Ajaero emphasized that the…
The Federal Government has approved a salary increase ranging from 25% to 35% across various salary structures, aiming to enhance the welfare of civil servants. This increment will benefit personnel…
The International Criminal Police Organization for Africa (INTERPOL Africa) has finalized the extradition papers for Nadeem Anjarwalla, a Binance executive who fled detention in Nigeria. Garba Umar, INTERPOL Africa’s Vice…
The Lagos State government has uncovered a network of makeshift apartments beneath the Dolphin Estate Bridge in Ikoyi, where tenants reportedly paid N250,000 per annum for a room. Commissioner for…
The Economic Community of West African States (ECOWAS) Council of the Wise, chaired by former Nigerian president Goodluck Jonathan, has issued a warning to West African governments regarding the dangers…
FCMB Group Plc has announced a remarkable increase in profit before tax, reaching N104.4 billion, marking a substantial 186 percent Year-on-Year (YoY) rise compared to N36.6 billion recorded in 2022.…
Commercial banks in Nigeria closed more than 2 million bank accounts in the first quarter of 2024 to adhere to regulatory directives regarding the linkage of bank accounts to the…
In the first three months of 2024, pension fund managers in Nigeria purchased Nigerian stocks worth N550 billion, reaching a historic total exposure of N2.32 trillion in equities by the…
During a meeting at Eko Hotel and Suites in Lagos, David Umahi, the Minister of Works, announced that the Nigerian government has paid N2.75 billion in compensation to property owners…
Uganda has recently finalized a deal with the Islamic Development Bank (IDB) in Saudi Arabia, obtaining a loan of $295 million. The loan aims to support various projects, notably road…
Elon Musk, the CEO of Tesla, has removed two senior executives from their positions and intends to lay off hundreds more employees, citing frustration over declining sales and the slow…
HSBC, a global banking giant, announced the retirement of its Chief Executive, Noel Quinn, after five years of leading the company through significant changes. Quinn, known for his decisive actions,…
Despite the challenges, Mercedes-Benz expects improved sales volumes in the second quarter, with a focus on defending current pricing levels, which the company considers to be at a high point.…
Sharif emphasized the importance of the standby arrangement in safeguarding Pakistan from defaulting on its external obligations. The IMF’s executive board approved the disbursement following discussions between Sharif and IMF…
MTN Nigeria Communications Plc has reported a loss after tax of N392.7 billion for the first quarter of 2024, marking its second successive loss since being listed on the Nigerian…