To reposition Nigeria’s economy and tackle insecurity at its roots, the National Economic Council (NEC) has approved the establishment of a Cotton, Textile, and Garment Development Board, alongside new strategies for agribusiness expansion and livestock transformation initiatives. The initiative is…
A report by S&P Global has revealed that the price of a 50kg bag of rice has reduced significantly to N58,000 in parts of Nigeria, following an influx of imported rice through the Republic of Benin. The report noted that…
The Nigeria Deposit Insurance Corporation (NDIC) has commenced payment of N46.6 billion as the first tranche of liquidation dividends to depositors of the defunct Heritage Bank, whose funds exceeded the maximum insured limit of N5 million. The corporation announced the…
Fitch Ratings has upgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings of Lagos, Kaduna, Kogi, and Oyo states from ‘B-’ to ‘B. The agency announced the development on its website on Saturday. According to Fitch, the rating action follows…
A traditional ruler from Osun State, Nigeria, and a pastor have pleaded guilty to charges linked to a $4.2 million COVID-19 relief fund fraud in the United States. Joseph Oloyede, the Apetu of Ipetumodu and Edward Oluwasanmi – a clergyman,…
The Economic and Financial Crimes Commission (EFCC) has declared four persons wanted over the alleged fraud perpetrated on crypto bridge exchange (CBEX), a trading platform. In a public notice issued by the Commission on Friday, the suspects include Seyi Oloyede,…
We have read the alarming claims of disgruntled opposition figures, some partisan human rights crusaders and emergency defenders of democracy over recent defections of key members of opposition parties into the governing All Progressives Congress. The seismic shift caused by…
Transcorp Power Plc, one of the power subsidiaries of Africa’s leading and listed conglomerate, Transnational Corporation Plc, has announced its unaudited results for the first quarter ended March 31, 2025. Key Highlights: • Robust Revenue Growth The company recorded an impressive…
In line with its bold diversification strategy and commitment to innovation and global best practices, Tantalizers PLC has announced the appointment of Mr. Charles (Charlie) Quinn as a Non-Executive Director on the Company’s Board, effective Tuesday, 15th April 2025. According…
The Central Bank of Nigeria (CBN) has raised a total of N1.008 trillion at its Open Market Operations (OMO) auction held on Friday. The development followed an overwhelming investor demand that led to a 102% oversubscription, affirming CBN’s aggressive monetary…
The Chairman of the Board of Directors, United Bank for Africa Plc (UBA), Tony Elumelu, on Friday assured stakeholders that the bank will meet the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement for international commercial banks by…
Dangote Cement Plc has released its unaudited financial results, reporting a pre-tax profit of N311.974 billion for the first quarter ended March 31, 2025. The figure represents an 87.48% year-on-year (YoY) growth compared to N166.404 billion recorded in Q1 2024.…
The Competition and Consumer Protection Tribunal has upheld the $220 million fine imposed on Meta Platforms Incorporated by the Federal Competition and Consumer Protection Commission (FCCPC). In a statement on Friday, the FCCPC’s Director for Corporate Affairs, Ondaje Ijagwu, announced…
Flight activities, including those of Air Peace, are being disrupted at local airports as workers of the Nigerian Meteorological Agency (NiMET) stage protests over poor working conditions. The strike, which has lingered into day 2, sees passengers on scheduled local…
The Federal Bureau of Investigation (FBI) has revealed that investment scams accounted for $5.8 billion, more than 50% of all reported crypto losses in 2024. The report from the FBI’s Internet Crime Complaint Center (IC3), which highlights the alarming findings…