Real Time Financial News Website
Stocks fell sharply on Monday as fears about the worsening coronavirus as well as uncertainty on further fiscal stimulus rattled traders. The Dow Jones Industrial Average dropped 626 points, or…
Sterling was under pressure on Monday as rising COVID-19 cases prompted Britain to consider a second national lockdown. The pound was down 0.3% against the dollar at $1.2876 by 0805…
Gov. Nasir El-Rufai of Kaduna state, said his administration has attracted 25 new businesses worth over $500 million as it continues to open up the state for business. El-Rufai made…
The Federal Government saw its crude oil sales revenue plunge by 74.89 per cent in July to a record low of $55.29m, according to the Nigerian National Petroleum Corporation. The…
Growth rate in the manufacturing sector is projected to suffer further decline in September and third quarter of 2020 as operators come under a renewed wave of inflation and foreign…
Securities and Exchange Commission (SEC) has explained that the recently-released statement on digital assets and their classification and treatment is aimed at boosting investor protection in the capital market. The…
The CBN has been inexcusably weak in enforcing its own rules, reflecting how politics, sectionalism and elite interests fuel corruption and prevent the emergence of strong development-enhancing institutions. The freezing…
In order to ensure that the country’s forex resources are prudently managed and used for the importation of priority goods, the Central Bank of Nigeria (CBN) has further beamed its…
Nigerian National Petroleum Corporation (NNPC) would in the first quarter of 2021 unveil the list of successful bidders among the 78 companies that submitted bids to rehabilitate its critical downstream…
Oil prices slid on Monday, as production looked set to resume in Libya and gloom spread over the outlook for global demand as the pandemic continues to rage. Traders fretted…
Nigeria’s exchange rate at the NAFEX window remained stable for the fifth consecutive trading day to still close at N386/$1 during intraday trading on Thursday, September 18. Also, the naira…
A former member of the House of Representatives, Abimbola Daramola, has revealed that many entrepreneurs fail in businesses as a result of various reasons that are often neglected. Daramola attributed…
One of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the country’s Securities and Exchange Commission (SEC) deemed its activities illegal.…
Africa’s top currencies have been hit greatly this year as a result of the coronavirus pandemic, but the Egyptian pound stands out as the best performer among peers. The Egyptian…
Nigeria’s currency reversed Thursday’s gain as it weakened by N1.50k, exchanging with the dollar at an average rate of N465 on Friday, from N463.50k traded on the previous day on…
The Nigeria Customs Service (NCS) has called on Nigerians to embrace the recently Federal Executive Council (FEC) approved e-Customs project as it will revolutionise trade facilitation, improve national security, save…
The European Central Bank’s ultra-cheap liquidity injections next week may raise the amount of excess cash sloshing around the euro area above 3 trillion euros ($3.6 trillion) for the first…
Nigerian non-oil exporters are tapping sea transport to reach the neighbouring west and central African markets as President Muhammadu Buhari’s government continues to hold back on border re-opening. Nigeria-Benin border…
Saudi Arabia’s warning to OPEC+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite a grim start to the week as industry heavyweights painted…
Global Economy The U.S. Federal Open Market Committee (FOMC), in its latest Monetary Policy Meeting, elected to leave the key interest rate near zero (0%-0.25%) and signalled they would stay…
Ghana’s cedi has weakened every year since at least 1994. Now the central bank appears to have drawn a line in the sand, ready to intervene should the currency slip…
Nigeria’s gross revenues inched up 0.8% in August to 682.1 billion naira ($1.79 billion) from the previous month as a rise in VAT and corporate tax receipts helped offset a…
Bitcoin, BTC to USD, slipped by 0.02% on Friday. Following on from a 0.11% decline on Thursday, Bitcoin ended the day at $10,957.2. It was a mixed start to the…
The U.S. dollar lost ground to the Japan’s yen for the fifth straight day and the yen was at a seven-week high against the greenback on Friday as investors sought…
The Department of Petroleum Resources has said more investors are showing interest in establishing modular refineries in the country following the deregulation of petrol. The Director, DPR, Mr Sarki Auwalu,…
Nigeria is counting on gas-powered vehicles to help it reduce reliance on gasoline and improve its climate credentials while easing the pangs of ending decades of an expensive fuel-subsidy regime.…
The dollar extended overnight losses on Friday after data on Thursday pointed to a slowdown in the U.S. economic recovery, while riskier currencies gained, with the Aussie and Kiwi dollars…
The Defence Headquarters says military has intensified its aggressive fight against crude oil theft, pipeline vandalism, bunkering, economic saboteurs and other criminal activities in the country. The Coordinator, Defence Media…
The dollar was down on Friday morning in Asia, with disappointing U.S. employment data dampening both the economic outlook and investor sentiment. The U.S. Dollar Index, which tracks the greenback…
Oil prices rose back to above $40 a barrel, after U.S. government data showed a crude stockpile draw more than twice above expectations. On the New York Mercantile Exchange, WTI…