Top 10 Failed Nigerian Banks: Why They Collapsed
Explore the collapse of 10 notable Nigerian banks, including Savannah Bank and Heritage Bank, due to governance failures, capital issues, and regulatory actions by the CBN.
Category : Business
Leverage and Margin Settings Transform Nigerian Trader Psychology
In Nigeria's online trading scene, broker leverage and margin settings significantly influence trader psychology, risk perception, and decision-making processes, often determining success more than market analysis alone.
FAAN Responds to MMIA Filming Incident, Denies Detention
FAAN addresses a viral claim of detention for filming at MMIA, stating the passenger was in a restricted area and not detained, but guided on privacy and security rules.
CBN Grants 82 BDCs $150,000 Weekly FX Access
The Central Bank of Nigeria has approved 82 recapitalised BDC operators to access up to $150,000 weekly from the NFEM to improve dollar supply in the retail market and support naira stability.
Banks Clear N300bn USSD Debt, End 4-Year Telecom Crisis
Commercial banks and telecom operators in Nigeria have resolved their four-year dispute over unpaid USSD charges, clearing nearly N300 billion in debt and transitioning to a new end-user billing model.
Trump Enacts 10% Global Tariff Post-Supreme Court Decision
Former US President Donald Trump announces a temporary 10% global tariff under Section 122 of the Trade Act, lasting 150 days, following the Supreme Court's invalidation of previous emergency duties.
Cameroonian Man Moves to Nigeria for Affordability and Freedom
Daniel Unah, born and raised in Cameroon, has relocated to Calabar, Nigeria, after a visit revealed life was easier and more affordable there. He shared his story on TikTok, receiving widespread support from Nigerians.
Supreme Court Strikes Down Trump's Global Tariffs
The US Supreme Court has ruled 6-3 that President Trump's global tariffs were unlawful, marking a rare setback for his administration. The decision affects billions in tariffs but leaves some measures intact.
Nigeria's Public Debt Hits N153.29 Trillion in Q3 2025
Nigeria's total public debt increased to N153.29 trillion as of September 30, 2025, according to the Debt Management Office, with domestic debt at N81.81 trillion and external debt at N71.47 trillion.
Khalifa Rabiu Set to Inherit $15bn BUA Group Empire
Khalifa Rabiu emerges as the heir to the $15 billion BUA Group, marking a pivotal generational transition in Nigeria's industrial landscape. His global education and operational experience position him to steer the conglomerate's future growth and economi
Oil Prices Rise Above Budget Benchmark, Naira Gains Momentum
Brent crude exceeds Nigeria's 2026 budget benchmark, while the naira appreciates below N1,400/$1 and external reserves hit an eight-year high, signaling economic recovery.
UI Student Bags First Class in Agriculture Despite Mockery
Florence Adejole, a University of Ibadan graduate, celebrates earning a first-class honours degree in agriculture after facing criticism for her course choice, inspiring netizens with her resilience.
Naira Hits 3-Year High, Nigerians Sell Dollars in Rush
The Nigerian naira strengthens sharply to N1,345 per dollar in the parallel market, forcing speculators to offload dollars. The gap with the official rate narrows to just 0.29%, marking a significant convergence.
Niger Delta Group Demands Review of Tompolo's Pipeline Contract
Niger Delta Safety Watch has written an open letter to President Bola Ahmed Tinubu, calling for urgent review of the pipeline surveillance contract held by Government Ekpemupolo (Tompolo). The group cites significant oil production losses and accuses Tomp
Naira Falls as Nigeria's Reserves Hit $48.5 Billion
Nigeria's currency depreciated at the official forex window, closing at ₦1,341.35 per dollar, despite external reserves rising to $48.5 billion. High demand for foreign currency and reduced central bank intervention contributed to the decline.
BDC Operators Yet to Access CBN's $150,000 Weekly Forex Window
Bureau de Change operators report they have not been able to access the Central Bank of Nigeria's official foreign exchange window despite policy approval. Operational challenges including settlement account requirements and banking processes are creating
Nigeria Mourns Ex-UBA Chairman Israel Ogbue's Death at 99
Nigeria grieves the loss of Chief Israel C. Ogbue, former UBA chairman, who passed away peacefully at 99. He leaves a legacy of over 60 years in public and private service, with tributes pouring in from colleagues and citizens.
Lagos Petrol Prices Surge as Dangote Halts Gantry Sales
Petrol prices at Lagos private depots have risen sharply, with Dangote-linked fuel now selling at N800 per litre. The increase follows Dangote Refinery's suspension of gantry sales and global crude oil prices climbing above $72 per barrel.
Naira Climbs to Two-Year Peak at 1,347/$ on FX Inflows
The Nigerian naira has surged to one of its strongest levels in nearly two years, closing at 1,347.78 per dollar in the official market, driven by improved liquidity and Central Bank interventions.
Grid Collapse Causes Blackout in Five Eastern States
A partial collapse of Nigeria's national electricity grid has left five South-East states without power, with restoration efforts ongoing amid concerns over upcoming gas facility maintenance that could reduce supply by 20%.
Woman Ships Nigerian Food to Canada, Shares Expense Breakdown
A Nigerian woman in Calgary, Canada, shared her experience shipping 120kg of foodstuffs and clothing from Nigeria, detailing the costs involved and sparking reactions from the diaspora community.
Aviation Experts Reveal Key Warning Signs for Air Disasters
Aviation safety experts outline critical early indicators, such as equipment malfunctions and adverse weather, that may precede air crashes, emphasizing the chain-of-events theory in accident prevention.
Dangote Refinery Slashes Cooking Gas Price to N760/kg
Nigeria's cooking gas prices have fallen significantly, with Dangote Refinery reducing its ex-depot rate to N760 per kilogram. Improved forex stability and local production are driving the downward trend, offering relief to households.
Nigerian Tax Law: No Double Tax on Diaspora Income
Nigeria's new tax reforms clarify that Nigerians abroad are not taxed on foreign income or remittances, addressing fears of double taxation with DTAs and residency rules.
Nigeria's Forex Reserves Hit $48.5B, Highest in 13 Years
Nigeria's foreign exchange reserves have surged to $48.5 billion, reaching their highest level in nearly 13 years, providing significant support for the naira and signaling economic strength amid ongoing reforms.
Stock Market Rally Continues, Investors Gain N1.71 Trillion
The Nigerian equities market sustained its bullish momentum on Thursday, with the All-Share Index rising 1.40% as investors gained N1.71 trillion. Banking, consumer goods, and industrial stocks led the rally.
Dangote Refinery to Boost Energy Security, Reduce Fuel Imports
The Managing Director of Dangote Refinery announced that the facility is operating in phases to optimize efficiency, aiming to meet domestic petroleum demand before expanding exports across Africa.
Azikel Group Denies N1B Lawsuit Over Aviation Training
Azikel Group refutes a N1 billion lawsuit claim, stating it's a blackmail attempt by a failed trainee. The company defends its philanthropic aviation programme for Bayelsa youths.
Naira vs CAD: Diaspora Woman's Exchange Rate Concern
A Nigerian-Canadian cybersecurity coach expresses conflicted emotions over the naira's appreciation against the Canadian dollar, highlighting impacts on exchange power and life in Nigeria.
Nigeria's Power Generators: Unpaid Bills Hit N6 Trillion
Power generation companies in Nigeria reveal unpaid electricity invoices have reached N6 trillion, attributing it to revenue shortfalls and weak remittances. The Association of Power Generation Companies rejects Nigeria Labour Congress allegations of exto
Page 4 of 137