A Chinese crane manufacturing company stunned 7,000 employees by stacking $26 million in cash at its annual celebration, inviting them to take home as much as they could physically carry. The firm's billionaire owner explained his unconventional bonus met
The Nigerian naira has declined slightly after weeks of gains, with the Central Bank purchasing dollars to stabilize the currency and prevent rapid appreciation, impacting market strategies.
Morocco leads Africa with a $374 monthly minimum wage in 2026, followed by Mauritius and Algeria, as inflation continues to erode purchasing power despite wage increases across the continent.
The Nigerian naira extended its losing streak, falling against the US dollar, British pound, and euro in both official and parallel foreign exchange markets. The Central Bank of Nigeria's recent dollar purchases and interest rate cut contributed to the cu
The Niger Delta Power Holding Company has urged the federal government to phase out electricity subsidies and introduce fully cost-reflective tariffs to address liquidity challenges and stabilize Nigeria's power sector.
The EFCC has informed a Lagos court that the CBN board approved AMCON's takeover of Arik Air after the airline faced severe financial distress, with testimony revealing alleged fund diversion.
Union Bank of Nigeria has issued a strong statement assuring customers of deposit security and operational stability following recent comments by the Central Bank of Nigeria governor on recapitalisation timelines for banks under regulatory intervention.
With the March 31, 2026 deadline approaching, 13 Nigerian banks are racing to meet the Central Bank's new capital requirements, sparking potential mergers and acquisitions in the industry.
President Bola Tinubu has approved a one-year extension of the ban on raw shea nut exports, aiming to boost domestic processing and value addition under the Renewed Hope Agenda.
President Bola Tinubu has approved a one-year extension of the raw shea nut export ban and established a new national framework to boost local processing and value-added exports.
The Rural Electrification Agency and ECOWAS sign a $700,000 grant agreement to power 15 health and education facilities with solar energy in FCT, Niger, and Nasarawa states, aiming to combat energy poverty.
The Nigerian stock market extended its bearish run on Wednesday, with the All-Share Index dropping 0.06% and investors losing N73.45 billion in market value. Trading activity improved despite the decline.
Stock markets across Asia and Europe reached unprecedented levels on Wednesday as investor fears about artificial intelligence overvaluation subsided. Positive corporate earnings and a calming presentation from AI firm Anthropic boosted technology shares.
British luxury carmaker Aston Martin announces plans to slash up to 20% of its workforce, affecting 600 employees, after reporting widened annual losses linked to US tariffs and weak demand in China.
United Nigeria Airlines has prohibited the use and charging of power banks during flights, following NCAA regulations. Passengers must carry them in hand luggage only, with strict capacity limits.
The Nigerian Ports Authority announces 33 vessels, including 17 with containerised cargo, are scheduled to berth at Lagos ports from February 22 to 27, carrying fuel, food, and other goods to support supply chains.
The Nigerian naira strengthened by N10 in the parallel foreign exchange market after the Central Bank reduced its benchmark interest rate by 50 basis points. Analysts provide insights on the monetary policy shift and its potential economic impacts.
The House Committee on Renewable Energy has ordered the Rural Electrification Agency MD to appear within 24 hours to account for N151 billion in government funds and international grants received between 2015 and 2024.
Bill Gates has publicly admitted to having affairs with two Russian women and apologized for his association with Jeffrey Epstein during a Gates Foundation town hall meeting.
Aliko Dangote and Abdul Samad Rabiu outperform other African billionaires with significant net worth increases, according to the Bloomberg Billionaires Index for 2026.
Nigeria's NNPC will begin exporting its new light, sweet Cawthorne crude oil grade in March 2026, aiming to boost production capacity and strengthen its position as Africa's leading crude exporter.
The Lagos Chamber of Commerce and Industry has welcomed the Central Bank of Nigeria's decision to cut the Monetary Policy Rate by 50 basis points to 26.50%. While praising the move as positive for investor confidence, the chamber cautioned that structural
Ojaja Pan Africa Limited has fully redeemed ₦9.2 billion in commercial paper from Nigeria's debt market, demonstrating financial resilience amid high borrowing costs. The repayment, sourced internally, highlights strategic planning and investor confidence
The Central Bank of Nigeria withdraws $190 million to curb the naira's rapid appreciation, causing the currency to weaken as external reserves surpass $50 billion.
A Federal High Court in Nigeria has ruled that Oriental Energy must pay $43.51 million to billionaire Muhammadu Indimi's twin daughters over unpaid dividends, highlighting governance issues in family-owned businesses.
FCMB Group Plc shares are rising on the Nigerian Exchange, trading at ₦12.35, up from a 52-week low of ₦8.35, driven by investor confidence in its strategy and valuation upside.
Sir Chijioke Nwachukwu, owner of LIV Restaurant in Lagos, has commissioned a modern chapel in Imo State and been appointed Deputy Coordinator of the 'Relax Tinubu is Fixing Nigeria' initiative, marking his rise as a socio-political figure.
Dangote Petroleum Refinery has secured an agreement with 12 major petroleum marketing companies to distribute up to 65 million litres of petrol daily across Nigeria, aiming to reduce fuel imports and stabilize prices.
Discover the leading insurance brokers in Nigeria for 2026, offering reliable protection, risk management, and seamless claims processing for individuals and businesses.
The Central Bank of Nigeria announces 20 out of 33 banks have met new capital requirements, raising N4.05 trillion with strong domestic investor participation ahead of March 31 deadline.