Real Time Financial News Website
The Nigerian House of Representatives has launched an investigation into the Central Bank of Nigeria (CBN) following a widespread cash shortage affecting commercial banks and causing hardship for citizens. During…
Access Holdings Plc has announced the launch of The Access Bank Malta Limited, a fully owned subsidiary of The Access Bank UK Limited. Approved by the European Central Bank (ECB)…
Tier-1 banks in Nigeria have significantly contributed to the year-to-date (YTD) growth of the Nigerian Exchange Limited (NGX) market capitalization, which reached N5.93 trillion as of December 6, 2024. These…
African Alliance Insurance has commenced the payment of N780 million in claims and annuities as part of its efforts to restore public trust and reposition the company for sustainable growth.…
The Naira appreciated in the parallel market to N1,550 per dollar, a slight improvement from N1,555 last weekend. This comes amid ongoing volatility in Nigeria’s foreign exchange landscape, influenced by…
The Nigeria Employers’ Consultative Association (NECA) has commended the Federal Government’s recent issuance of a $2.2 billion Eurobond, which aims to finance the 2024 fiscal deficit, fund infrastructure projects, and…
The International Air Transport Association (IATA) has highlighted Algeria, Angola, and Eritrea as countries that still owe foreign airlines a combined total of $1.7 billion in blocked funds, as of…
Donald Trump’s proposed tax reforms and tariffs, including a corporate tax cut from 21% to 15%, could disrupt Nigeria’s financial sector and economy. Similar measures in 2017 prompted U.S. companies…
Through its Finance Committee, the Nigerian Senate has warned government agencies of zero allocation in the 2025 budget if they fail to account for funds allocated in 2024. During an…
The Nigerian equity market started the week on a downturn, losing N63bn in market capitalization as the total value dropped from N59.53tn to N59.47tn. The All-Share Index (ASI) decreased by…
The naira has experienced a dramatic surge, rising 8.9% in one week, as it rallied from N1,672 to N1,535 per dollar in the official market. This appreciation, driven by the…
Coronation Group has announced its role as a Gold Sponsor at the Africa Financial Summit (AFIS), set to take place this week in Casablanca, Morocco. The event brings together over…
PalmPay, a leading Nigerian fintech company, has reaffirmed its commitment to tackling financial fraud through advanced technology. During a recent courtesy visit to the Nigerian Financial Intelligence Unit (NFIU), PalmPay’s…
In 2024, the Nigerian Exchange Limited (NGX) saw a remarkable surge of N8.1 trillion in its market capitalization, despite Nigeria’s economic downturn and rising interest rates. The market capitalization, which…
The naira strengthened significantly against the dollar, gaining N137 within a week following the Central Bank of Nigeria’s (CBN) introduction of a new foreign exchange (FX) trading platform. Official data…
In his first year as Central Bank of Nigeria (CBN) governor, Olayemi Cardoso implemented significant monetary reforms aimed at stabilizing the naira and addressing inflation. His tenure began with ambitious…
United Bank for Africa (UBA) has delivered an impressive 375% capital gain to its investors over the past five years, significantly outperforming the Nigerian stock market and the financial services…
Foreign investments in Nigeria’s telecommunications sector dropped significantly in the third quarter of 2024, falling to $14.4 million, an 87% decline from the $113.42 million recorded in the second quarter.…
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total inflows rising by 32.9% month-on-month to $4.05 billion, up from $3.04 billion in October, according to…
FCMB Group Plc has announced a 67% growth in Profit Before Tax (PBT) to ₦91.8 billion for the nine months ended September 30, 2024, reflecting robust financial and operational performance…
The finance and insurance sector recorded a 30.83% growth in real GDP in Q3 2024, driven by the Central Bank of Nigeria’s (CBN) aggressive monetary tightening policies. This growth marks…
Singapore’s Monetary Authority (MAS) has fined JPMorgan Chase S$2.4 million (USD 1.79 million) for failing to prevent misconduct by its relationship managers during over-the-counter bond transactions. The managers reportedly provided…
Robert Giles, Senior Banking Advisor at Access Bank Plc, highlights the bank’s strides in digital innovation and financial inclusion. With over 60 million customers, Access Bank has transitioned from a…
In 2024, the Central Bank of Nigeria (CBN) successfully raised N11.29 trillion through Nigerian Treasury Bills (NTBs), marking a 106.4% increase from the N5.47 trillion raised in 2023. This surge…
Stanbic IBTC Bank has introduced the Senior Citizens Account, a specialized banking service tailored for Nigerians aged 50 and older. This initiative aims to meet the unique financial needs of…
The Securities and Exchange Commission (SEC) has reassured investors about the safety of their investments as financial technology (Fintech) continues to reshape Nigeria’s investment landscape. Speaking during a capacity training…
The naira appreciated in the parallel market on Tuesday, strengthening to N1,755 per dollar from Monday’s rate of N1,770 per dollar. Similarly, the currency gained value in the Nigerian Autonomous…
State governments in Nigeria fail to execute 40% of their capital expenditure (CAPEX) budgets, according to the Fitch Ratings report. The global credit ratings firm revealed that debt servicing, driven…
Foreign investors are increasingly withdrawing from the Nigerian Exchange (NGX), with year-to-date foreign outflows reaching N400.04 billion by October 2024, surpassing inflows of N344.30 billion. This marks a net withdrawal…
The Central Bank of Nigeria (CBN) has extended the recapitalization deadline for Bureau De Change (BDC) operators by six months, moving it from December 3, 2024, to June 3, 2025.…