Real Time Financial News Website
President Bola Tinubu has praised Tantita Security Services Limited and other security agencies for their effective collaboration in combating oil theft. The commendation was delivered by Chief of Defence Staff,…
Senator Atiku Bagudu, the Minister of Budget and Economic Planning, has emphasized the need for a minimum of $100 billion in investments to realize Nigeria Agenda 2050, with over 80%…
The equity market witnessed an upswing, gaining N874 billion at the close of trading on Monday, propelled by notable performances from Chams Holdings Plc (+10%), PZ Cussons (+10%), and 66…
As inflation continues its upward trajectory, analysts are advising equity market investors to remain resilient by focusing on stocks with robust fundamentals. The recent release of the Consumer Price Index…
Transcorp Hotels Plc, a key player in the hospitality industry, has achieved a significant milestone by entering the club of companies with a market capitalization of N1 trillion on the…
In a statement filed with the Nigerian Exchange Limited on Monday, Access Holdings Plc has successfully acquired Megatech Insurance Brokers Ltd, a move that enhances its portfolio in the financial…
The Bill & Melinda Gates Foundation has unveiled its annual budget of $8.6 billion for the year 2024, allocating a significant portion to propel advancements in global health innovations. In…
The African Export-Import Bank and the United Bank for Africa have successfully disbursed $2.25 billion from the $3.3 billion oil-for-cash loan facility arranged by the Nigerian National Petroleum Company Limited.…
According to World Bank data, Nigeria is not as import-dependent as perceived by many people. Nigeria, despite being an oil-producing nation with a population of 200 million, struggles to dispel…
Despite being an emblem of Nigeria’s industrial aspirations since its initiation in 1979, the Ajaokuta Steel Mill continues to face challenges with poor performance and substantial overheads. Every administration since…
Nigeria’s Socio-Economic Rights and Accountability Project (SERAP) has called for a significant reduction of 70% to the National Assembly’s budget, which they deem “excessive and out of touch” with the…
The Economic and Financial Crimes Commission (EFCC) has revived high-profile corruption cases involving former governors and ministers. The renewed investigations span alleged misappropriation of billions of naira and millions of…
The Minister of Budget and Economic Planning, Atiku Bagudu, anticipates an improvement in the exchange rate, citing the ongoing exchange reforms led by President Bola Tinubu and the Central Bank…
Less than a month into the New Year, the Nigerian Exchange Limited has achieved double-digit year-to-date gains, signaling a sustained bullish trend. At the close of trading on Friday, the…
In the first quarter of 2024, Nigeria is set to launch the National Broadband Alliance for Nigeria, an initiative aimed at enhancing broadband development and adoption in Edo, Ogun, Kwara,…
Adesola Adeduntan, the Chief Executive Officer of First Bank of Nigeria, emphasized the presence of opportunities in the 2024 budget for serious players in the Nigerian economy. Speaking at the…
Stakeholders in the hospitality industry have highlighted the potential for a substantial 400% increase in revenue within six months through harnessing Foreign Direct Investment (FDI). In an exclusive interview with…
NOVA Merchant Bank Limited has implemented a substantial 50% salary increase for its staff effective November 1, 2023. The bank, which has received shareholders’ approval to transition to a commercial…
The Federal Government has announced an investigation into the non-functioning Ajaokuta Steel Company Limited, which accumulated a staggering N33bn in electricity debt. This debt led to the Transmission Company of…
With the aim of ensuring stability in the 2024 Appropriation Act, the Federal Government disclosed on Thursday that it settled for an exchange rate of N800 to the dollar. The…
The International Labour Organisation (ILO) has issued a projection, stating that approximately two million workers could lose their jobs in 2024. This prediction accompanies an expected increase in the global…
A recent report by financial solutions firm Cardinal Stone suggests that multinational firms in the Fast Moving Consumer Goods (FMCG) subsector may consider exiting the country in 2024 if the…
Wema Bank has showcased remarkable financial performance in the third quarter of 2023, as its Profit Before Tax surged by over 130% to N21.76bn compared to N9.46bn during the same…
Emerging Africa Capital Limited, an Investment Banking and Financial Services company, announced the successful redemption of its Series 3 commercial paper valued at N1.655bn. The Commercial Paper was issued in…
The Nigerian Exchange Limited closed on a positive note on Thursday, with investors gaining approximately N313bn. The All-Share Index rebounded by 0.70%, closing at 82,597.08, while the market capitalisation, appreciating…
International Breweries Plc’s Board of Directors is set to deliberate on a Rights Issue and an increase in its share capital, according to a corporate update filed with the Nigerian…
As the Central Bank of Nigeria (CBN) prepares to introduce cNGN, its stablecoin, through commercial banks and fintech companies, challenges emerge, notably from its predecessor, the eNaira. While the official…
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) successfully recovered N50bn that was on the brink of embezzlement. This substantial amount, designated for vulnerable citizens during the tenure…
The Nigerian Naira has experienced a significant 26.36% depreciation against the US Dollar in the official Investor and Exporter window of the foreign exchange market. This decline follows the Central…
The Central Bank of Nigeria (CBN) appointed Hassan Imam as the new Chief Executive Officer and Managing Director of Keystone Bank, succeeding Olaniran Olayinka. Olayinka had served as CEO since…