Real Time Financial News Website
The United Bank for Africa (UBA) is undertaking a N239.4 billion Rights Issue to fund digital transformation and business expansion efforts, reinforcing its leadership as a pan-African banking giant. The…
The Nigerian equity market soared by N704bn over six days, pushing the market capitalization above N60tn. At Monday’s close, the market added N330bn, with 740.89 million shares worth N16.88bn traded…
For conceptualising and developing actionable solutions to bridge gaps in Nigeria’s agribusiness ecosystem, winners of this year’s First City Monument Bank (FCMB) Agritech Hackathon and venture-building programme have been rewarded…
United Bank for Africa (UBA) is set to raise N239.4 billion through a rights issue to support its growth and strategic plans. The bank is offering 6.84 billion ordinary shares…
PalmPay, a leading fintech company in Nigeria, has partnered with e-commerce platform Jumia to improve the payment process for customers using the PalmPay wallet. The collaboration aims to streamline transactions…
Currency outside banks in Nigeria surged to N4.29 trillion in October 2024, accounting for 94.2% of the total currency in circulation, according to Central Bank of Nigeria (CBN) data. This…
Cash scarcity continues to trouble Nigerians despite the Central Bank of Nigeria (CBN) reporting a record high of N4.5 trillion in currency circulation by October 2024. While the money supply…
Nigeria, Africa’s largest oil producer, was conspicuously absent from the list of beneficiaries of nearly $1 billion in development financing recently approved by the OPEC Fund for International Development. During…
The Nigerian equities market ended the week of November 13, 2024, on a note, with the NGX All-Share Index (ASI) climbing by 1.19% to 99,378.06 points, nearing the landmark 100,000-point…
The Nigerian Exchange Group (NGX) has imposed 3,792 regulatory sanctions on trading license holders over the past 13 years to curb market infractions and bolster investor confidence. Through its regulatory…
Capital Express Group has officially unveiled its insurance arm, comprising two rebranded entities: Capital Express Life Assurance Limited and Capital Express Indemnity Insurance Limited. This milestone event, held in Lagos,…
The Nigerian stock market extended its bullish run last week, driven by increased investor confidence and seasonal factors like the “January effect,” which has historically influenced market trends. Domestic and…
NSIA Insurance Limited has donated furniture and school supplies to Government College, Victoria Island, Lagos, as part of its Corporate Social Responsibility (CSR) efforts. The initiative, which took place on…
Continental Reinsurance, a leading pan-African reinsurance company, has received a B+ financial strength rating and a long-term issuer credit rating of “bbb-” with a stable outlook from AM Best, a…
Access Bank, a subsidiary of Access Holdings Plc, has announced its agreement to acquire a 100% equity stake in South Africa’s Bidvest Bank Limited. This acquisition marks a significant step…
The World Bank is expected to approve a $500 million loan for Nigeria to enhance rural access and agricultural marketing under the Rural Access and Agricultural Marketing Project Scale Up…
Unified Payments, Nigeria’s leading payments, and financial technology company, has introduced its new campaign titled ‘It Starts Here’. The initiative emphasizes the ease of making transactions, which begins with just…
Nigerian banks experienced N42.33bn in fraud-related losses during the first half of 2024, according to a report by the Financial Institutions Training Centre. Fraud spiked across most channels except for…
President Bola Tinubu highlighted Nigeria’s potential for growth in the energy and solid minerals sectors during a business meeting with German investors in Abuja on December 11, 2024. He emphasized…
Shareholders of the United Bank for Africa (UBA) have seen impressive returns, with a cumulative capital gain of 375% over nearly five years. Data from the Nigerian stock market reveals…
The Nigerian naira sharply declined to N1,745 per dollar in the parallel market on Wednesday, marking a steep drop from N1,600 recorded last week. While peer-to-peer exchanges quoted rates around…
The French Agency for Development (AFD) has extended a €50 million credit line to the Development Bank of Nigeria (DBN) to bolster financial support for women entrepreneurs across Nigeria. A…
Nigeria’s money supply rose 48.3% year-on-year to N107.7 trillion in October 2024, up from N72.6 trillion in the same period in 2023, according to the Central Bank of Nigeria (CBN).…
Stanbic IBTC Pension Managers has announced plans to host its annual FUZE 3.0 Festival, a celebration of Nigerian creativity and innovation. The event, themed “Light it Up,” is scheduled for…
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSIBIFI), discussed the ongoing recapitalization process in the banking sector and its potential impact…
Nigeria’s external reserves saw a significant increase of $7.7 billion, reaching $40.3 billion by November 2024, driven by foreign portfolio investments (FPIs). The surge in FPIs was largely due to…
Edves, a leading education technology company in Africa, has partnered with Globus Bank to simplify school fee payments for parents and guardians in Nigeria. This collaboration introduces seamless payment options…
Omiye Microfinance Bank Limited has announced plans to raise its authorized share capital from N500 million to N1 billion to upgrade its operational license to Tier 1 Microfinance Bank (MFB).…
The Central Bank of Nigeria (CBN) has honored OPay with the Financial Inclusion Innovation Award at the 2024 International Financial Inclusion Conference. The award underscores OPay’s pivotal role in Nigeria’s…
The Central Bank of Nigeria (CBN) has refuted allegations of selling foreign exchange (FX) to Bureau de Change (BDC) operators at N1,301 per dollar. This clarification came after a fake…