business
Customs Hands Over Sealed Badagry Petrol Station to NMDPRA for Sanction Over Alleged Fuel Smuggling The Nigeria Customs Service (NCS), through its anti-smuggling task force, Operation Whirlwind, has officially transferred a sealed filling station in Lagos to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for necessary regulatory sanctions. The handover, which took place […]
FCT Minister Wike Arrives in Dubai to Lead High-Level Panel on Urban Development at Global Asia Pacific Cities Summit The Minister of the Federal Capital Territory (FCT), Nyesom Wike, arrived in Dubai, United Arab Emirates, early Monday, October 27, 2025, to attend the 2025 Asia Pacific Cities Summit (2025APCS) and Mayors’ Forum. The global event, […]
Debt Drive: FG Lists N260 Billion FGN Bonds for October Auction, Targeting 5 and 7-Year Maturities The Federal Government of Nigeria (FG), via the Debt Management Office (DMO), has announced the listing of N260 billion in FGN Bonds for subscription at its October 2025 auction. This is the government’s latest effort to raise domestic financing and manage […]
EFCC Warns CBEX Probe is ‘Complex and Multinational,’ Confirms Arrests but Cautions Full One Point Three Trillion Naira Recovery May Be Impossible The Economic and Financial Crimes Commission (EFCC) has described its ongoing probe into the alleged One Point Three Trillion Naira (over One Billion US Dollars) crypto fraud linked to the collapsed CryptoBank Exchange […]
NMDPRA Orders ‘Time-Out’ and Spill Mitigation Measures for Oil and Gas Operators as Imminent Flood Threatens 15 Lagos/Ogun Communities The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued a critical flood warning to oil and gas operators across Ogun and Lagos states, urging them to implement proactive measures, including a complete suspension of […]
Customs Unveils New Verification Platform to Empower Nigerians and Decisively Curb Vehicle Smuggling and Duty Fraud The Nigeria Customs Service (NCS) has launched a significant digital solution, the Customs Verification Management System (CVMS), aimed at decisively curbing vehicle smuggling, customs duty evasion, and fraud across the nation. The platform, which marks a major step in […]
Okomu Oil’s Profit Skyrockets 113% to N60.33Billion in Nine Months on Revenue Surge Okomu Oil Palm Company Plc, a major player in Nigeria’s agro-industrial sector, has reported a spectacular financial performance for the nine months ended September 30, 2025, with its Profit After Tax (PAT) soaring by a massive 113% year-on-year to N60.33 billion. This […]
Enugu Residents to Endure 10-Day Power Outage Starting Wednesday Due to TCN Repairs Residents of the Enugu metropolis are set to experience a 10-day power outage as MainPower Electricity Distribution Limited (MEDL) has announced a significant supply interruption to allow for major maintenance work on the transmission network. The planned power cut, announced yesterday, Monday, […]
Great Nigeria Insurance Reverses N736M Loss to Post N2B Profit, Fueled by Massive Investment Income Great Nigeria Insurance Plc (GNI) has announced a dramatic financial reversal, moving from a loss position of N736 million in 2022 to record a robust Profit After Tax (PAT) of N2 billion for the 2023 financial year. The company’s chairman, […]
‘Professional’ Thieves Steal Priceless Napoleonic Jewels From Louvre’s Crown Gallery in 7-Minute Daylight Raid In a daring and meticulously planned operation, a team of masked thieves successfully executed a daylight robbery at the world-famous Louvre Museum on Sunday morning, making off with eight pieces of the priceless French Crown Jewels collection. The audacious heist, which […]
Soaring Gas Cylinder Costs Force Households Back to Firewood, Undermining Clean Cooking Goals The Managing Director of Eterna Plc, Mr. Olumide Adeosun, has issued a sharp warning that Nigeria’s aspiration for clean cooking may be derailed due to the prohibitive cost of Liquefied Petroleum Gas (LPG) cylinders for consumers. This high barrier to entry, he […]
Ex-Executive Director Recants, Tells Court Arik Air’s Multi-Billion-Naira Loan Was ‘Non-Performing’ Before His 2015 Exit The ongoing N76 billion fraud trial involving former Asset Management Corporation of Nigeria (AMCON) Managing Director, Ahmed Kuru, took a new turn after a key prosecution witness, Mr. Muhammed Abbas Jega, an ex-Executive Director of Credits at AMCON, recanted his […]
RMB Nigeria Asset Management Clinches ‘Fastest Growing Asset Manager of the Year’ at Prestigious 2025 BAFI Awards RMB Nigeria Asset Management Limited, the wealth and asset investment management arm of the FirstRand Group, has been honoured as the Fastest Growing Asset Manager of the Year at the highly coveted 2025 Banks and Other Financial Institutions […]
Global Surveyors Body Lauds Governor Oyebanji for Launching Ekiti’s Geospatial Revolution in Land Administration Ekiti State Governor, Mr. Biodun Oyebanji, has been distinguished on the international stage, receiving effusive praise from the International Federation of Surveyors (FIG) for his visionary approach to reforming land administration in the state. The commendation was delivered by the Chairman […]
EU Greenlights €190 Million Credit Line to Nigeria to Boost Climate-Smart Agriculture and Agri-Business Lending Nigeria’s critical agricultural sector is set for a substantial financial injection, as the European Union (EU) has approved a €190 million (approximately N320.5 billion) credit line through the European Investment Bank (EIB). This financing is specifically designed to expand lending […]
Dangote Cement Unveils Massive $160M, 3 Million Tonne Plant in Côte d’Ivoire, Bolstering West African Industrial Footprint Dangote Cement, a subsidiary of the pan-African conglomerate Dangote Group, has officially commenced operations at its new, state-of-the-art production plant in Attingué, Côte d’Ivoire. The launch of the facility, which represents a strategic investment of approximately $160 million […]
FX Floodgates Open: Naira Surges to 10-Month High as CBN Reforms Trigger Massive Investor Confidence The Nigerian Naira has hit a significant milestone, strengthening to a 10-month high against the US dollar in the official Nigerian Foreign Exchange Market (NFEM). This latest surge is a direct consequence of sustained and strong foreign exchange (FX) inflows, […]
First Lady Oluremi Tinubu Delivers 21 Brand-New Shuttle Buses to OAU in Fulfilment of Key Campus Safety Pledge The Obafemi Awolowo University (OAU), Ile-Ife, is celebrating a major upgrade to its internal transportation system following the delivery of 21 brand-new shuttle buses donated by the First Lady, Senator Oluremi Tinubu. The donation, which was announced […]
Nigeria’s Total Public Debt Hits Record ₦152.4 Trillion, Driven by Naira Depreciation and Massive Fiscal Deficits The Nigerian Economic Summit Group (NESG) has issued a sobering assessment of the nation’s fiscal health, revealing that Nigeria’s debt stress has reached its highest level on record. According to findings from the group’s newly introduced Debt Burden Index […]
FG, MOFI Finalize Roadmap with Flutterwave to Power Trade and Financial Inclusion Nigeria has taken a significant step toward accelerating its digital economy, with the Federal Government (FG) and the Ministry of Finance Incorporated (MOFI) concluding a strategic meeting with Flutterwave Technology Solutions Limited. The high-level talks focused on forging a robust partnership to expand […]