Real Time Financial News Website
Economist Paul Alaje criticized the Nigerian government’s simultaneous removal of petroleum subsidies and devaluation of the naira, calling these actions detrimental to the economy. Speaking at the 3rd Annual Mohammed…
Net foreign exchange inflows in Nigeria rose to $25.4 billion from January to June 2024, a 55 percent increase compared to the same period last year. This boost is attributed…
Nigeria’s revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas supply issues. In 2023, the federal government’s revenue from NLNG was N46.2 billion,…
The Bank Directors Association of Nigeria (BDAN) has expressed disagreement with the views of FBN Holdings Chairman Femi Otedola and Heirs Holdings Chairman Tony Elumelu regarding the proposed foreign exchange…
Nigeria’s Finance and Coordinating Minister of the Economy, Wale Edun, announced that the Federal Government’s revenue for the first half of 2024 has exceeded budgetary targets. At a press briefing…
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the United States. The Japanese automaker’s net profit for the first quarter dropped…
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the deficit down to N2.83 trillion from N3.99 trillion in the same…
Transcorp Hotels posted a profit before tax of N10.5 billion in the first half of 2024, a remarkable 188% increase from N3.6 billion in the same period of 2023. According…
Energy Absolute (EA.BK), a leading Thai renewable energy firm, saw its share prices plummet by nearly 30% during Tuesday morning trading following the lifting of a trade suspension imposed after…
Nigerians reduction in purchasing power have led to a decline in electronic payment transactions and this has been reflected in a broader cut in consumer spending. The Financial Vanguard reports…
The Nigerian Exchange (NGX) experienced continued declines last week due to profit-taking and sell pressure on highly priced stocks and blue-chip companies. Investors are cautious, waiting for inflation data and…
Zenith Bank Plc is preparing to finalize its capital raising efforts to meet the Central Bank of Nigeria’s new banking sector capital requirements. Additionally, the bank is transitioning to a…
The Nigeria Infrastructure Debt Fund (NIDF) reported a 15.8% increase in post-tax profit for the first half of 2024, reaching N8.37 billion, up from N7.23 billion in the same period…
Investors are preparing for various scenarios in case former President Donald Trump wins back the White House in November, with a focus on Latin America. During his previous administration, Trump…
Asia’s wealthy and their bankers are optimistic about a recovery in China, betting that exposure to the region, even amidst a slowdown, will be beneficial in the long run. Piyush…
Nigeria’s Treasury Bills (T-Bills) debt has surged to a record N10.4 trillion, marking a 60% increase in just three months, according to the Debt Management Office (DMO). This significant rise,…
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32% increase in revenue to N15.7 billion from N11.9 billion in 2022. At the…
Kogi State’s internally generated revenue (IGR) has increased from N6.5 billion to N23.5 billion annually over eight years, according to Alhaji Salihu Enehe, the executive chairman of the Kogi State…
FBN Holdings reported a significant 181.43% increase in gross earnings to N1.60 trillion for Q1 2024. Interest income contributed 60% of total earnings, while non-interest income surged by 153.67% to…
China is advocating for Visa and Mastercard to decrease their bank card transaction fees in the country, aiming to boost spending by foreign visitors, Bloomberg News reported, citing a source…
Citigroup (C.N) is poised to expand its business in Europe despite the continent’s political volatility, which has deterred investors, according to Ignacio Gutierrez-Orrantia, the bank’s new head for the region.…
Nigerian businesses are likely to welcome a new proposal that could make planning and budgeting easier. The Presidential Committee on Fiscal Policy and Tax Reforms has recommended setting a fixed…
Walmart is severing its partnership with Capital One, which issued its store-branded credit cards since 2019. This decision comes after a federal judge ruled in Walmart’s favor, allowing them to…
The African Development Bank (AfDB) is stepping up its support for Nigeria’s infrastructure needs with a significant investment of $1.44 billion. This announcement was made during the Nasarawa Investment Summit…
An analysis of the 2024 budgets of the National Assembly, state assemblies, and their agencies reveals a total expenditure of approximately N724 billion. This includes an estimated N50 billion allocated…
The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the initial four months of 2024. This amount is a significant…
In the first three months of 2024, pension fund managers in Nigeria purchased Nigerian stocks worth N550 billion, reaching a historic total exposure of N2.32 trillion in equities by the…
The Federal Government of Nigeria anticipates receiving a $2.2 billion single-digit interest loan from the World Bank and additional budget support from the African Development Bank (AfDB). Minister of Finance,…
Transcorp Hotel Plc has revealed a notable increase of 36.2% in its revenue for the year 2023. During a presentation to analysts and investors, the Managing Director/CEO, Dupe Olusola, disclosed…
The Nigeria Deposit Insurance Corporation (NDIC) has urged the Economic and Financial Crimes Commission (EFCC) to return recovered funds to its coffers. NDIC Managing Director, Bello Hassan, emphasized the importance…