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News
The Supreme Court has overturned the order made by Court of Appeal that froze the assets and operations of oil firms Nestoil Limited and Neconde Energy Limited over an alleged $1.1 billion debt dispute involving FBNQuest Merchant Bank Limited and First Trustees Limited. In a judgment delivered on Monday, a five-member panel of the apex ...
Business
Nigeria’s premier non-interest bank, Jaiz Bank Plc, has announced plans to seek shareholders’ approval to raise up to N150 billion in fresh capital as part of efforts to strengthen its financial position and support future growth. The proposed capital raise is one of the key items for consideration at the bank’s 14th Annual General Meeting, ...
Capital Market
The Nigerian stock market has commenced a faster T+1 settlement cycle as of June 1, 2026. In a notice issued in May 2026, the Securities and Exchange Commission (SEC) announced that the country’s capital market would kick off the transition to a T+1 settlement cycle. The implication is that if capital market investors buy or ...
Business
…as Kostianis steps down PZ Cussons Nigeria Plc has announced the appointment of a new Managing Director/Chief Executive Officer and an Executive Director/Chief Financial Officer, following the resignation of its current CEO, Dimitrios Kostianis. The company disclosed these leadership changes in a notice to shareholders and the Nigerian Exchange Limited on Monday, June 1, stating ...
News
The Inspector-General of Police, Olatunji Disu, has approved the promotion of 17,952 junior officers nationwide in a move to boost morale, reward diligence, and strengthen institutional capacity in the police force. According to a statement issued by the Force Public Relations Officer, Anthony Okon Placid, the exercise, which cuts across commands and formations nationwide, involves ...
Politics
Former Minister of Foreign Affairs, Yusuf Tuggar, has dismissed reports suggesting he criticised President Bola Tinubu in a recent interview, affirming his loyalty and support for the administration of the All Progressives Congress (APC). This was disclosed in a statement issued on Sunday by his media aide, Abdulkadir Alkassim. The former minister clarified that his ...
Politics
The Minister of Aviation and Aerospace Development, Festus Keyamo, has urged former President Goodluck Jonathan to openly distance himself from the presidential nomination offered to him by a faction of the Peoples Democratic Party (PDP). Keyamo’s remark follows the announcement by a PDP camp led by former Minister of Special Duties, Tanimu Turaki, which adopted ...
Money market
The Central Bank of Nigeria (CBN) has extended the enforcement deadline for its Point-of-Sale (PoS) geo-fencing policy to August 1, 2026. This extension comes as the apex bank increased the permitted geo-fence radius from 10 meters to 70 meters as part of efforts to ease industry compliance. The directive was contained in a circular dated ...
Capital Market
Nigeria’s banking sector recorded a significant increase in personal lending at the start of 2026, with outstanding personal loans climbing to N1.96 trillion in January and accounting for more than half of all consumer credit in the country. Data contained in the latest Economic Report released by the Central Bank of Nigeria (CBN) showed that ...
Money market
Nigeria’s major flour milling and food manufacturing company, Honeywell Flour Mills Plc has posted a profit after tax (PAT) of N16.49 billion for the year ended March 31, 2026, with profit after tax rising by 13 per cent to N16.49 billion. According to the company’s audited annual report filed on the NGX on Saturday, its revenue stood ...
News
The Inspector-General of Police, Olatunji Disu, has approved the promotion of 17,952 junior officers nationwide in a move to boost morale, reward diligence and strengthen institutional capacity in the police force. According to a statement issued by the Force Public Relations Officer, Anthony Okon Placid, the exercise, which cuts across Commands and Formations nationwide, involves ...
Digital Economy
Nigeria’s leading food manufacturing company, BUA Foods Plc, has fixed its 5th Annual General Meeting (AGM) for July 15, 2026, as shareholders prepare to consider the company’s 2025 financial statements, dividend proposal, and the re-election of directors, among other matters. The meeting will hold at the Transcorp Hilton Hotel in Abuja, according to a notice ...
News
Stanbic IBTC Holdings PLC has announced plans to begin a closed period ahead of the release of its half-year audited financial statements for the period ending June 30, 2026. This was disclosed this in a notice issued on Friday to the Nigerian Exchange Limited and shareholders by the company secretary, Chidi Okezie. The company stated ...
News
Nigeria’s integrated agro-industrial company, Presco Plc, has announced the appointment of Belgian agribusiness executive François Van Hoydonck as a non-executive director to its board. In a notice issued on Friday to the Nigerian Exchange Limited and company shareholders, Board Secretary Frederick Ichekwai stated that the appointment was made to fill a casual vacancy. Presco added ...
Business
The Centre for the Promotion of Private Enterprise (CPPE) has called for urgent and accelerated reforms in Nigeria’s electricity sector following what it described as a disturbing contraction in power supply performance captured in the country’s Q1 2026 Gross Domestic Product report. In a statement released on Thursday and signed by its Chief Executive Officer, ...
Business
Former International Monetary Fund Managing Director and President of the European Central Bank, Christine Lagarde, has harped on the need for central banks across the world to maintain their independence in order to withstand political pressure from governments. Lagarde made the remarks on Thursday while speaking at a conference of francophone central bankers in Phnom ...
Digital Economy
Technology giant Meta has unveiled paid subscription services for its major social media platforms, including Instagram, Facebook, and WhatsApp, a shift aimed at reducing its dependence on advertising revenue. The company announced on Wednesday that it would begin rolling out premium plans known as Facebook Plus, Instagram Plus, and WhatsApp Plus to users globally, with ...
Digital Economy
The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has criticised the economic policies of President Bola Ahmed Tinubu’s administration, alleging that the government had accumulated about $30 billion in external loans within three years while Nigerians continue to grapple with severe economic hardship. Atiku stated this on Wednesday, shortly after emerging as ...
Issues of the Moment
It has become an annual tradition to recognize the importance of children in Nigeria on May 27. The yearly celebration aims to raise awareness about children’s rights and promote their well-being and development in society. This year’s celebration, however, is being observed with a heavy heart, grief, and anxiety, as over 80 children abducted from ...
Aviation
The African Development Bank Group (AfDB) has appointed Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo as the Champion of its Integrated Aviation Transformation Program for Africa (IATP). In a letter dated May 26, 2026 and signed by the Director of the Infrastructure and Urban Development Department, the AfDB said Nigeria had shown outstanding ...
