CBN Tightens BVN Rules: 5 Changes Affecting Your Account
The Central Bank of Nigeria introduces new BVN guidelines effective May 1, 2026, to combat fraud and enhance security, including one-time phone number changes and transaction caps.
Category : Business
Afreximbank $10B Gulf Crisis Relief for Africa, Caribbean
Afreximbank approves a $10 billion Gulf Crisis Response Programme to shield African and Caribbean economies from Middle East conflict disruptions, offering support for essential imports and infrastructure.
Oyo, FCMB Give N1.5bn to Youth Farmers
Oyo State Government and First City Monument Bank have disbursed N1.5 billion in collateral-free loans to 1,000 young agripreneurs through the Easylift programme, aiming to boost food production and support youth-led businesses in agriculture.
NCC Orders Telecoms to Pay for Poor Network from 2026
The Nigerian Communications Commission has directed major telecom operators like MTN and Airtel to automatically compensate subscribers for poor service quality, effective April 2026, under new consumer protection rules.
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Eterna's Profit Soars 52.9%, Revenue Hits N302 Billion
Eterna Plc announced a robust financial turnaround for 2025, with profit before tax rising to N7.27 billion and revenue reaching N302.37 billion, driven by operational efficiency and strategic growth.
NGX Crosses N130 Trillion Amid Corporate Actions
The Nigerian Exchange Limited (NGX) surged past N130 trillion in market capitalisation, gaining N209 billion in a single trading session. Key stocks like Cadbury Nigeria and GTCO drove the upturn, while market breadth remained negative with more decliners
Nigeria Resilient to Global Shocks, Gains from Oil Prices - Edun
Finance Minister Wale Edun states Nigeria is positioned to benefit from rising oil prices amid Middle East tensions while managing economic risks. The World Bank projects growth but warns of inflation and poverty challenges.
NCC Details QoS Compensation Eligibility for Subscribers
The Nigerian Communications Commission has outlined specific eligibility criteria for subscribers to receive compensation for poor quality of service, effective this month, covering voice, data, and SMS failures.
CIT Revenue Drops 49.81% in Q4 2025, NBS Reports
The National Bureau of Statistics reveals a sharp 49.81% decline in Company Income Tax revenue for Q4 2025, with VAT also falling 3.78% quarter-on-quarter amid economic hardship.
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Dangote Cuts Petrol Price by N75 After Global Oil Drop
Dangote Petroleum Refinery has reversed its N75 per litre petrol price increase, lowering the ex-gantry price to N1,200. The move follows a sharp decline in global crude oil prices, triggered by eased geopolitical tensions involving Iran.
NNPC Discovers Rare Crude, Exports Cawthorne to Europe
Nigeria's NNPC has started exporting the newly discovered Cawthorne crude oil grade to Europe, aiming to diversify exports and boost revenue during high global oil prices.
FG Waives Demurrage on 10,000 Containers, Reviews NSW
The Federal Government has granted demurrage waivers for over 10,000 containers stuck at Lagos ports due to regulatory bottlenecks. Officials from NRS, NCS, and PEBEC reviewed the National Single Window system to address operational challenges.
Why Nigeria's Electricity Fails in February: Seasonal Scissor
Nigeria's electricity grid faces its worst performance annually from February to April due to a predictable convergence of peak demand from heat and reduced supply from hydro, exacerbated by a lack of reserve capacity and governance failures.
Zenith Bank Hits N1 Trillion Profit Again, Tops Nigerian Banking
Zenith Bank Plc reports over N1 trillion profit after tax for 2025, with improved asset quality and a doubled dividend payout, reinforcing its status as Nigeria's most profitable bank.
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3XG Shop Targets Retail Consolidation in Nigeria
3XG Shop, an omnichannel commerce platform, unveils a strategy to tackle logistics and merchant challenges in Nigeria's growing retail sector, emphasizing infrastructure over promotions.
Nigeria, Africa's Trade Vulnerable to Global Shocks
A new Afreximbank report reveals Africa's trade structure is concentrated, externally dependent, and fragile, with Nigeria and others facing persistent vulnerabilities despite policy reforms.
African Manufacturers Urge SEZ Reform for Industrial Growth
African manufacturers and stakeholders call for urgent redesign of special economic zones, citing structural flaws and global shifts. PAMA President Mansur Ahmed outlines a six-point reform agenda to boost integration and competitiveness under AfCFTA.
Nigeria's Electricity Crisis: Failure of Execution, Not Ideas
Nigeria's electricity crisis persists due to poor execution, not lack of ideas. Despite proposed reforms like GAMCO, systemic issues in gas supply, transmission, and tariffs remain unaddressed, leaving millions in darkness.
Unions Protest Dismissal of 75 Workers in Lagos Over Union Membership
Labour unions picketed Global Plus Publishing Company in Lagos, alleging the dismissal of 75 workers for joining trade unions, citing violations of labour laws and constitutional rights.
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Africa Urged to Speed Up Energy Transition Amid Renewables Record
Global renewable energy capacity reached a record 5,149 GW in 2025, with Africa showing growth but lagging behind. IRENA calls for accelerated transition to enhance energy security and resilience.
Human Capital Gap Threatens Africa's Energy Security
Africa's push for energy security through new refineries and plants is hampered by a critical shortage of skilled local talent, risking long-term operational failures and investment losses without urgent workforce development.
Renaissance Chair Urges Stricter Mining, Energy Regulation
Dr Layi Fatona, Chairman of Renaissance Africa Energy, advocates for firmer oversight in Nigeria's mining and energy sectors to support economic growth and avoid environmental risks.
Denmark Eyes Investment in Nigeria's Shipbuilding, Digitalisation
Denmark's Consul General identifies maritime transport, shipbuilding, digitalisation, and green tech as key areas for strengthening bilateral relations and advancing Nigeria's blue economy.
NAICOM Issues Policyholder Fund Guidelines, May 31 Deadline
The National Insurance Commission has released guidelines for the Insurance Policyholders' Protection Fund, with a compliance deadline of May 31, 2026, to safeguard policyholders from insurer insolvency.
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Shipowners: High Duties Cause $8.5bn Yearly Capital Flight
Indigenous shipowners warn that Nigeria's high import duties on vessels and preferential treatment for foreign operators are crippling the shipping industry, leading to an estimated $8.5 billion in yearly capital flight.
Port Proliferation Without Cargo Traffic Puts Investments at High Risk
Maritime stakeholders warn that Nigeria's proliferation of deep seaport projects, driven by political motives rather than cargo demand, risks economic unviability and huge financial losses.
Airtel Hits 650M Global Users, Grows Nigerian Sites to 17,200
Bharti Airtel has achieved a global milestone with over 650 million mobile subscribers, becoming the world's second-largest telecom operator. In Nigeria, the company expanded its site count to 17,200, enhancing high-speed coverage and infrastructure.
Nigeria-UK £746M Ports MoU: Strategic Challenges and Opportunities
The landmark £746 million Nigeria-UK MoU aims to modernize key ports but faces hurdles like regional imbalances, tied financing favoring UK suppliers, and governance risks. Success requires inclusive investment across ports like Onne and Calabar to boost
ICTN Procurement Starts After Presidential Nod
The Federal Government has begun implementing the International Cargo Tracking Note following presidential approval, aiming for rollout by 2026 to enhance maritime security and trade transparency.
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SON Urges Manufacturers to Adopt Standards for Global Competitiveness
The Standards Organisation of Nigeria (SON) has called on local manufacturers to prioritize producing standard products to enhance the competitiveness of Nigerian goods in international markets, reduce import reliance, and boost exports.
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