Real Time Financial News Website
The Securities and Exchange Commission (SEC) in the United States is set to bring charges against Dozy Mmobuosi, the CEO of Tingo Group, and three subsidiaries—Tingo Mobile and Tingo Foods…
President Bola Tinubu has assured the international investment community of his administration’s commitment to position Nigeria as a top-level destination for both offshore and onshore investments. During a meeting with…
President Bola Tinubu has officially inaugurated the 11-man Board of the Nigerian National Petroleum Company Limited (NNPCL) with a stern warning against non-performance and a call for increased focus on…
The Nigerian Electricity Regulatory Commission (NERC) has released its Q3 quarterly report, revealing that Electricity Distribution Companies (Discos) collected N267.6 billion from customers during the period. Despite achieving a billing…
Standard Chartered has finalized an agreement with Coris Group for the sale of its consumer banking business in Côte d’Ivoire, marking a significant step in the bank’s strategic divestment process…
MTN Nigeria Communications Plc has announced the successful completion of its Series 10 Commercial Paper issuance, surpassing its initial target by recording a remarkable 149 percent subscription. The issuance, part…
The Nigerian Exchange (NGX) is proactively reaching out to younger investors, unveiling plans to engage and attract Gen Zs and millennials to the capital market through innovative products and initiatives.…
Mark Zuckerberg, the Founder of Meta, has surpassed Warren Buffett in riches by $7 billion, according to the Forbes Billionaire Index. Zuckerberg’s net worth has reached an impressive $125 billion,…
Oando Clean Energy (OCEL), the renewable energy subsidiary of Oando Energy Resources, is supporting the Nigerian government’s electric vehicle (EV) initiative by purchasing 100 new EVs. The announcement was made…
The Nigerian Naira faces a record low in official trading, weakening by 23% to N1,099 per dollar. Meanwhile, challenges in implementing the Petroleum Industry Act (PIA) persist, affecting the country’s…
According to the second-quarter report on financial soundness indicators released by the banking regulator, some banks with international authorization are reported to have a capital adequacy ratio below the regulatory…
The Ghana Revenue Authority (GRA) has strongly refuted claims made by MP Isaac Adongo that it accessed a US$75 million loan without parliamentary approval. Adongo had called for a parliamentary…
In July 2023, the Central Bank of Nigeria (CBN) witnessed a substantial surge in dollar inflow, marking a notable increase of 91.9 percent compared to the previous month. The apex…
Introduction:OpenAI, the artificial intelligence research laboratory, has announced an agreement to rehire Sam Altman as CEO, just three days after he was initially sacked by the board of directors. The…
Impact investor Goodwell Investments, in collaboration with Oikocredit and Global Partnerships/Eleos Social Venture Fund (GP SVF), has invested $8.5 million in equity in Zambian social enterprise Good Nature Agro (GNA).…
The Nigerian Naira has experienced a sharp decline, reaching ₦1,290 to $1 in key markets, including Abuja. This significant drop is raising concerns about the currency’s stability and the broader…
Oasis Capital Ghana, an SME growth equity investor in West Africa, has announced its successful exit from Legacy Girls College (LGC), a Ghana-based educational institution exclusively for female students. This…
The Export Expansion Grant (EEG), Nigeria’s primary incentive scheme for exporters, has faced challenges including corruption allegations and a lack of due diligence, leading to a loss of trust among…
Atiku Abubakar, the People’s Democratic Party’s presidential candidate, is scheduled to hold a press conference today, where he is expected to discuss President Bola Tinubu’s academic records. This development follows…
Over 22,000 health workers, including Nigerians, have been left stranded after a $1.5 billion COVID-19 delivery scheme, backed by the Mastercard Foundation and Africa Centres for Disease Control and Prevention,…
The Nigerian National Petroleum Company Limited (NNPCL) has allocated nearly N34.47 billion towards the repair and management of pipelines over a span of 18 months, as per the latest Oil…
Singapore-based Olam Group has strongly refuted recent reports from Nigerian media claiming its African units were involved in a multi-billion-dollar foreign exchange fraud. The company issued a statement categorically denying…
The G20, a grouping of major world economies, has reportedly agreed to grant permanent membership to the African Union, according to sources. This decision elevates the African Union, which comprises…
Foreign firms repatriated $5.86 billion from the Nigerian economy between October 2022 and March 2023, with $5.13 billion repatriated as dividends by foreign investors. This increase in dividend payments to…
Rentoza, a South African online subscription platform, has successfully secured $6 million in funding from two prominent investors, leading a funding round that includes Alitheia IDF and the Vumela Enterprise…
A.P. Moller Capital and RCL FOODS have successfully closed the acquisition deal of Vector Logistics. Vector Logistics is a leading frozen infrastructure logistics operator in South Africa, specializing in multitemperature…
The UK Ministry of Defence has reported that Ukraine and Russia are engaged in a conflict over strategic oil and gas platforms in the Black Sea. These platforms are operated…
The hopes for the Port Harcourt refinery’s resumption of fuel production by December 2023, following its Turn Around Maintenance (TAM) that began in 2019, seem to be hanging in the…
Bernard Looney, the CEO of BP, engaged in discussions today with Egypt’s President Abdel Fattah al-Sisi and Minister of Petroleum and Mineral Resources Tarek El Molla. Nader Zaki, BP’s regional…
Despite the economic growth dipping to 2.51% in the second quarter of the year, experts anticipate that a combination of reforms in the real sector and an upturn in oil…