finance

Tech billionaire, Elon Musk has toppled over Amazon CEO, Jeff Bezos to become world’s richest man after a single-day gain of $9.81 billion on Wednesday, February 24. It would be recalled that Musk reigned in the position for about 6 week…

National Bureau of Statistics (NBS) has on Thursday said Nigeria’s Gross Domestic Product recorded a slight growth of 0.11 per cent grew in Quarter Four (Q4) 2020, from the 6.11 per cent contraction in Q3, signaling a gradual recovery…

Amazon CEO, Jeff Bezos has reclaimed his title of world's richest person, bringing Tesla chief Elon Musk’s reign to an end just after six weeks. On Tuesday, Musk, 49, lost about $4.5 billion on after Tesla’s shares fell 2.4%, putting…

Senate has summoned the Governor of the Central Bank of Nigeria, Godwin Emefiele and Director-General of Security and Exchange Commission, Lamido Yuguda over the CBN’s order restraining banks and financial institutions in the country from…

Electric car manufacturer, Tesla has disclosed that it has acquired $1.5 billion in bitcoin cryptocurrency, adding it could in the near future accept the coin as payment for its luxury cars. Tesla filed its annual financial report with…

Central Bank of Nigeria’s directive ordering banks and other financial institutions to close customer accounts used in trading cryptocurrencies and other related transactions has been greeted with harsh criticism from many Nigerians. The…

Central Bank of Nigeria has ordered banks and other financial institutions to close customer accounts used in trading cryptocurrencies and other related transactions. This was stated in a letter dated February 5 as seen by MDB and signed…

Federal Government has confirmed that it will sell some government-owned properties to fund the 2021 budget. The government also said it will sell some non-oil assets to serve as additional source of finance for the year’s budget.…

A computer programmer who lost his Bitcoin password has just two guesses left to figure out his passcode before he is locked out of his £180million worth account forever. Stefan Thomas lost a slip of paper he wrote the information to…

Aliko Dangote, President/Chief Executive, Dangote Industries Limited, reportedly lost a total of $900 million within 24 hours, after his company emerged the biggest loser at the end of trading on Nigerian Stock Exchange on Friday, January…

Elon Musk, founder of Tesla electric carmaker and Space Exploration Technologies Corp, has overtaken Amazon boss, Jeff Bezos to become the world’s wealthiest person. A 4.8% surge in the electric carmaker’s share price at Thursday’s…

Owing to the rising default in loan repayment forced by the COVID-19 pandemic and the declining economy that affected borrowers’ revenue inflow, First City Monument Bank (FCMB) faced an upsurge in credit loss expenses in the third quarter…

First City Monument Bank (FCMB) has again proved its mettle as a customer-centric financial institution that cares for the comfort of its customers by opening a world class Cash Centre at Ikorodu, Lagos State. The ultra-modern Cash…

Central Bank of Nigeria has revoked the operating licences of 42 microfinance banks in the country. Nigeria Deposit Insurance Corporation disclosed this on Friday in an announcement on its website titled ‘Notice of closure of 42…