Real Time Financial News Website
In its latest Treasury bills auction on May 21, 2025, the Central Bank of Nigeria (CBN) raised N615.8 billion, surpassing the N598.3 billion raised earlier in the month. Despite tough…
The Nigerian Exchange Limited (NGX) closed on a bullish note last week, delivering a significant gain of N1.14tn. The All-Share Index (ASI) rose by 1.80%, ending at 105,451.06 points, while…
The Nigerian stock market maintained its upward trend, fueled by price gains in Aradel Holdings Plc and 41 other stocks. The Nigerian Exchange Limited All Share Index (NGX-ASI) rose by…
Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), says the organisation is strongly in support of the economic reforms introduced in Nigeria under President Bola Tinubu. Speaking…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the recent approvals for Nigerian Agip Oil Company’s (NAOC) divestment to Oando Petroleum and Equinor’s divestment to Chappal were in…
Investors in Nigeria’s modular refinery sector have initiated discussions with the African Export-Import Bank (Afreximbank) to access part of the $18 billion fund aimed at developing refineries across Africa. This…
Nigeria’s oil and gas sector, despite boasting Africa’s largest oil reserves, is struggling to attract investment due to excessive bureaucracy. A complex web of regulations involving up to 20 government…
There’s good news for Nigeria’s steel industry! The government has reportedly secured potential investments totaling $10 billion to revitalize the Ajaokuta Steel Complex and National Iron Ore Mining Company (NIOMCO).…
In 2023, investors in six Nigerian financial institutions reaped significant rewards, with final dividends totaling approximately N366.93 billion, as reported by The PUNCH. This amount marks a substantial increase of…
The Central Bank of Nigeria’s Intervention Funds Programme, totaling N10.3 trillion, has shown a repayment rate of 75.8%. However, concerns arise as N193 billion of the disbursed loans have been…
Italy’s Agnelli family, through its investment arm Exor, has acquired a 10.1% stake in Clarivate, a New York-listed information services provider. The companies announced on Monday that Exor has the…
As Britain anticipates its Spring budget set for the upcoming Wednesday, investors closely monitor Finance Minister Jeremy Hunt’s balancing act between economic stimulus and fiscal prudence against the backdrop of…
President Bola Tinubu announced plans to secure $10 billion to bolster foreign exchange liquidity, stabilize the naira, and foster economic growth. Speaking at the public wealth management conference in Abuja…
A recent report titled “Finding Rain in Drought.” by Comercio Partners, a prominent research and investment firm, suggests that foreign investors might delay investing in Nigeria due to the ongoing…
At a General Meeting held in Lagos, shareholders of Cadbury Nigeria Plc endorsed the conversion of an outstanding intercompany loan of $7.718 million (N7.036 billion) owed to its majority shareholder,…
Benin Republic successfully issued its first-ever dollar-denominated bond, raising a substantial $750 million. The bond offering witnessed overwhelming investor interest, being oversubscribed by an impressive $5 billion. The Finance Minister…
Cadbury Nigeria Plc has disclosed a remarkable operating profit of N8.397 billion for the full year ending December 31, 2023. This figure, as per the company’s audited financial statement filed…
Airtel Africa Plc has unveiled its intention to repurchase up to $100 million worth of its shares, underscoring confidence in its financial performance despite ongoing foreign exchange challenges. In its…
Sergio Pimenta, the Regional Vice President for Africa at the International Finance Corporation (IFC), revealed that the institution’s investments in Nigeria amount to $2 billion and are diversified across various…
Anna Bjerde, the Managing Director of Operations at the World Bank, is poised to undertake a pivotal two-day engagement in Nigeria, marking her inaugural trip to the country in her…
The Minister of Works, David Umahi, has highlighted the need for N146 billion to repair the deteriorating Marina shorelines during a joint inspection of lagoon sections including the Third Mainland,…
Neveah Limited, a commodity trading company specializing in solid minerals and agricultural products, has fulfilled its obligation by redeeming the N2.92 billion Series 7, 8, and 11 commercial papers issued…
Shell Plc, in a statement released by its Chief Executive Officer, Wael Sawan, announced that it returned $23 billion to shareholders in 2023. The company’s cash flow from operations (CFFO)…
The stock market experienced a bullish resurgence on Thursday, resulting in a substantial gain of N902 billion. The All-Share Index and market capitalisation of the domestic bourse rose by 1.63…
GlaxoSmithKline Consumer Nigeria Plc witnessed a significant 33.76% decline in profit, dropping to N510.80 million in 2023 from N771.15 million in the previous financial year. The company’s separate financial statements,…
The Nigerian National Petroleum Company Limited (NNPCL) has initiated discussions with a South Korean consortium led by Daewoo E & C regarding the development of gas projects in Nigeria. The…
The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in the first six months. They express concern about the sector’s challenges, emphasizing the need…
The latest treasury bill auction in Nigeria on August 9, 2023, saw investors submitting bids worth N808 billion for one-year bills at an interest rate of 9.8% per annum. However,…
Investors bid N384 billion worth of one-year treasury bills at a rate of 12.15%, but only N255 billion was allotted due to oversubscription in the latest auction on 26th July…
MIC has invested R25 million in the firm, which is revolutionizing the way healthcare is delivered in South Africa, through its venture capital initiative, Khulisani Ventures. Quro Medical was founded…