Real Time Financial News Website
South Korean President Yoon Suk Yeol has announced a major investment of 9.4 trillion won ($6.94 billion) in artificial intelligence (AI) by 2027. Additionally, a separate 1.4 trillion won fund…
On Tuesday, global shares showed a mixed performance as investors awaited this week’s U.S. inflation report and an important European Central Bank meeting. While industrial metals prices continued to rise,…
Despite a slowdown in funding across the African continent, Nigerian startups have raised an impressive $160 million in the first three months of this year, as revealed by a new…
Moji Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), has overcome numerous challenges throughout her life. With a background in pharmaceutics and manufacturing…
Renowned Nigerian billionaire Tony Elumelu has shown interest in acquiring a club in the Nigeria Premier Football League (NPFL) following discussions with Sports Development Minister, Senator John Owan Enoh. Elumelu,…
Premium Pension Limited, a leading Pension Fund Administrator (PFA) in Nigeria, achieved significant growth in its Assets Under Management (AUM), reaching N1.134 trillion by the end of the 2023 financial…
Microsoft has forecasted that Artificial Intelligence (AI) will contribute approximately $1.2 trillion to Africa’s economy by the year 2030. This projection is part of a larger estimate of $15.7 trillion…
Despite the long holiday declared for the Eid-el-Fitri celebration, airports across the country experienced low turnout of passengers, as observed by Daily Trust. Despite the three-day holiday, many flights were…
The Corporate Affairs Commission (CAC) has taken action amid the crisis rocking the board of First Bank of Nigeria (FBN) Holdings by placing its records on caveat pending the resolution…
Nigeria’s flag carrier, Air Peace, has refuted claims that it abandoned passengers at Gatwick Airport, London, and closed its counter before closing time due to overbooking on April 8, 2024.…
FBN Holdings, a financial holding company, has announced its intention to seek shareholders’ approval to raise an additional N300 billion in capital. The decision was disclosed in a notice of…
Nigeria is set to receive a $1.05 billion syndicated loan backed by oil from the African Import Export Bank next month. This loan is part of a larger $3.3 billion…
Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development, has announced that United Arab Emirates (UAE) airlines might restart flight operations to Nigeria before June. He revealed this during…
The Nigeria National Petroleum Company Limited (NNPCL) reportedly owes approximately $3 billion to fuel traders for imported petrol, according to three sources informed by Reuters. The devaluation of the naira…
The Murtala Muhammed Airport Command (MMA) of the Nigeria Customs Service (NCS) announced that it generated N45.23 billion from importers at the airport in the first quarter of 2024. This…
Zenith Bank Plc released its 2023FY results, demonstrating continued strong performance throughout the year. The group’s profit before tax surged by 202.3% year-on-year (y/y) to NGN795.96 billion, with profit after…
The Nigerian Society of Engineers (NSE) has urged for strict penalties on electricity distribution companies (DisCos) that fail to provide a minimum of 20 hours of power supply to customers…
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has soared to N14,150 for a 12.5kg cylinder, marking a significant 38% increase year-on-year compared to N10,323.33 in…
The federal government has finalized arrangements to receive a $1.05 billion syndicated loan backed by oil by the end of May 2024. This loan is part of a $3.3 billion…
The World Bank has projected a lower inflation rate compared to February 2024, which stood at 31.7 percent. In its Africa’s Pulse Report, April 2024 edition, released recently, the World…
Currency dealers expressed concern over mounting losses and decreasing demand for the dollar as the naira continued to appreciate in both the official and parallel markets. The Central Bank of…
Last week, stock market investors in Nigeria experienced losses amounting to N623 billion as fund managers adjusted their portfolios in anticipation of first quarter results. The Nigerian capital market saw…
The Federal Government has announced the commencement of testing on the 700 megawatts Zungeru Hydroelectric Power Plant, located in Niger State. Contrary to some claims, the $1.3 billion project has…
As the Nigerian National Petroleum Company, NNPC Limited, works to alleviate petrol scarcity in Lagos and its surroundings, Dangote Refinery and oil marketers are actively finalizing decisions on pricing and…
The Lagos State Government has issued a notice to demolish the $200 million Landmark Beach Resort, citing obstruction to the planned route of a 700-kilometer coastal road connecting Lagos with…
The Nigerian equities market faced its third consecutive weekly loss as investors grappled with the potential impact of the Central Bank of Nigeria’s (CBN) bank recapitalization plans. Notably, Tier-1 banking…
First City Monument Bank (FCMB) has reiterated its dedication to sustainable manufacturing practices aimed at reducing negative environmental impacts and conserving energy and natural resources. This commitment was showcased at…
The manufacturing sector’s contribution to Nigeria’s non-oil exports has experienced a significant decline of 62% over the past four years. Data from the latest foreign trade report reveals that manufacturing…
Cashew farmers in Nigeria anticipate a slight decrease in output for the 2024 season due to the severe harmattan season experienced in key growing areas. The harsh harmattan conditions have…
The Central Bank of Nigeria (CBN) has successfully implemented most of its long-awaited monetary policy reforms, providing a window of opportunity for the government to secure sustainable dollar inflows. The…