Finance

Tinubu's Cabinet on Niger Delta Affairs Paid ₦2.7bn To Private Account As 'Bulk Stipends' Violating Public Sector Regulations
FinanceNews

Nigeria’s Public Debt Soars to N121.67 Trillion Due to Naira Devaluation

Nigeria’s Debt Management Office (DMO) has announced a significant rise in the nation’s total public debt, which now stands at N121.67 trillion (approximately...

Femi Otedola
FinanceNews

Femi Otedola Increases Stake By N18.9bn, Becomes First Bank’s Largest Shareholder

Nigerian billionaire Femi Otedola has emerged as the largest shareholder of FBN Holdings, increasing his stake to 9.41%. This move came after Otedola...

FinanceNews

German Govt. Agency Transfers Bitcoin Worth Over $400 Million, Sends Some To Crypto Exchanges – Arkham 

A German government agency has transferred a significant amount of Bitcoin, valued at $425 million, to another wallet and various crypto exchange deposit...

FinanceNews

Swiss Central Bank Cuts Interest Rates For Second Time This Year 

The Swiss National Bank (SNB) has cut its key interest rate for the second time this year, reducing it by 25 basis points...

FinanceNews

UK’s Inflation Hits 2% Target for First Time in Three Years

The UK’s inflation rate has reached the Bank of England’s target of 2% for the first time in nearly three years, according to...

FinanceNews

Public Pressure Makes Kenyan Govt. Drop Proposed Taxes On Bread, FX, More

Kenya’s government has amended the controversial Finance Bill 2024 and retracted several proposed tax hikes. This was in response to widespread opposition and...

President Bola Tinubu has approved a new minimum wage of N70,000. The President also committed to periodically reviewing the national minimum wage law every three years.
FinanceNews

Nigeria’s FG Debt To World Bank Soars By $4.95bn In 12 Months, Total Debt Reaches N101tn

Nigeria’s public debt has surged by $4.95 billion in loans from the World Bank over the past 12 months, escalating the nation’s total...

FinanceNews

Ghana’s GDP Growth Hits 4.7% In Q1 2024, Fastest In Two Years

Ghana’s economy experienced its fastest growth in over two years, with GDP increasing by 4.7% in the first quarter of 2024. This marked...

South Africa Inflation
FinanceNews

South Africa Expected To Maintain Interest Rate As Inflation Holds Steady In May

South Africa’s inflation rate remained steady in May, increasing the likelihood that the central bank will maintain its current interest rate. According to...

FinanceNews

Sultan Of Sokoto Urges Nigerians To Embrace Farming To Alleviate Economic Hardship

The Sultan of Sokoto and president general of the Nigeria Supreme Council for Islamic Affairs (NSCIA), Sa’ad Abubakar, has called on Nigerians to...

FinanceNews

AfDB Launches Debt Managers’ Initiative as 13 African Nations Face Debt Distress

‍The African Development Bank (AfDB) has inaugurated the African Debt Managers Initiative Network (ADMIN) to address growing debt challenges in Africa. This move...

Nigeria's Inflation is Not Looking Good, NBS 2024 Report Shows
FinanceNews

Nigeria’s Inflation Soars to 33.95% in May 2024 – NBS

Nigeria’s inflation rate has surged to 33.95% in May 2024, up from 33.69% in April, according to the latest data from the National...