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News
President Bola Tinubu has terminated the appointment of Saidu Mohammed as the Chief Executive Officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). In a statement released on Tuesday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, announced that Tinubu has nominated Rabiu Abdullahi Umar as the new ...
Oil & Gas
Oando Plc has announced restrictions on share transfers between its Nigerian and South African registers as it advances its capital raising efforts. In a corporate disclosure signed by the company’s Chief Compliance Officer and Company Secretary, Mrs. Folasade Ibidapo-Obe, the company confirmed it is seeking approval to list a rights issue of 4,415,867,342 ordinary shares ...
News
The 2023 vice-presidential candidate of the Labour Party, Yusuf Datti Baba-Ahmed has announced his intention to defect to the Peoples Redemption Party (PRP). Speaking on Channels Television’s Politics Today on Tuesday, the former senator cited internal disagreements and a shift in the party's original ideals as his reasons for leaving. Baba-Ahmed accused the current administration ...
News
The Federal High Court in Abuja has affirmed the powers of the Federal Competition and Consumer Protection Commission (FCCPC) to investigate complaints arising from medical services. Delivering judgment on April 15, Justice Emeka Nwite dismissed a suit filed by Lifebridge Medical Diagnostic Centre Ltd, which challenged the Commission’s jurisdiction to probe alleged medical negligence. Justice ...
Money market
Nigeria’s exchange rate dynamics reflected a mix of mild stability and persistent pressure on Tuesday, as the naira closed at N1,380.71 per dollar at the Nigerian Foreign Exchange Market (NFEM). According to official figures for April 28, 2026, the currency traded within a band of N1,367.50 to N1,385.00 during the session, before settling at a ...
Money market
Ecobank Group has posted $195 million in profit before tax for the first quarter of 2026, up 21% compared to the preceding year. The pan-African bank disclosed this in its unaudited Q1 2026 results obtained on Monday on the Nigerian Exchange Limited. According to the results, attributable profit to shareholders of ETI rose 11% to ...
Telecoms
The Federal High Court in Abuja and Lagos have restrained telecommunications companies from embarking on enforcement actions tied to new digital lending regulations introduced by the Federal Competition and Consumer Protection Commission (FCCPC), signaling potential restoration of the airtime and data credit services. In a ruling delivered on April 24, 2026, the Federal High Court ...
Judiciary
In a landmark judgment that redefines patient rights in Nigeria, the Federal High Court in Abuja has affirmed the Federal Competition and Consumer Protection Commission’s (FCCPC) jurisdiction to investigate complaints within the healthcare sector, including cases of medical negligence. The ruling, delivered by Justice Emeka Nwite, dismissed a suit by Lifebridge Medical Diagnostic Centre Ltd, ...
Economy
Shareholders of Transcorp Power Plc have approved a final dividend of N4.00 per share for the 2025 financial year, bringing the total payout to N5.50 per share after adding the N1.50 interim dividend paid last August. This was part of the resolutions that were passed at the company’s 13th Annual General Meeting held on Monday, ...
News
Nigeria has recorded the highest level of crude oil production in the last five years, rising to 1.71 million barrels per day between April 2025 and April 2026. This was disclosed in the One-Year Mandate Report Summary, which was posted on X by the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) ...
Business
Shareholders of United Capital Plc have approved a final dividend of ₦12.6 billion for the 2025 financial year. The approval was part of the corporate governance resolutions passed at the company’s Annual General Meeting (AGM) held last Friday in Abuja. According to the resolutions, signed by the Group Company Secretary, Dr. Leo Okafor, investors will ...
Money market
The Joint Revenue Board (JRB) has called for the accelerated harmonization of taxes across Nigeria, warning that fragmented systems are undermining efficiency and constraining revenue mobilization across all tiers of government. This call was detailed in a communiqué issued at the conclusion of the Board’s 159th meeting, held from April 20 to 22, 2026, in ...
Money market
The Joint Revenue Board (JRB) has called for the accelerated harmonization of taxes across Nigeria, warning that fragmented systems are undermining efficiency and constraining revenue mobilization across all tiers of government. This call was detailed in a communiqué issued at the conclusion of the Board’s 159th meeting, held from April 20 to 22, 2026, in ...
Finance
Coronation Insurance Plc has announced plans to raise up to N9.26 billion in fresh capital through a private placement, as part of strategic moves to strengthen its balance sheet and meet regulatory and growth objectives. The approval was granted at an Extraordinary General Meeting (EGM) held virtually on April 24, 2026, where shareholders passed a ...
Economy
The Nigerian Exchange Limited (NGX) has extended daily market hours from the previous 9:30 a.m. - 2:30 p.m. window to a new 9:00 a.m. - 4:00 p.m. The change, which adds two more hours of trading time, officially took effect on Monday, April 27, 2026. Confirming in a statement on its X handle, NGX wrote: ...
Aviation
Management of Ibom Air has raised concerns over the escalating cost of aviation fuel, disclosing that it now spends about N7.6 million to power a single flight. The airline said the surge in fuel prices is placing significant financial strain on operators, expressing concerns about the sustainability of current operations if the trend persists. In ...
Economy
President of the Dangote Group, Aliko Dangote, has hinted that the planned expansion of the Dangote Refinery to a production capacity of 1.4 million barrels per day will create employment for at least 95,000 skilled workers at the peak of construction. In a statement issued by the company, Dangote made the disclosure at the weekend ...
CRIME
Operatives of the National Drug Law Enforcement Agency (NDLEA) have again intercepted a consignment of deadly terror drug known as Captagon in Kwara State. The first seizure of such an amphetamine substance in Africa was recorded nearly five years ago when it was intercepted at the Apapa seaport in Lagos. According to a statement released ...
security
The Ogun State Police Command has dismissed as false and misleading a viral video claiming to show bandits in a forest within the state. A statement issued on Sunday by the state police public relations officer, Oluseyi Babaseyi, clarified that the video does not originate from Ogun or any part of Nigeria. “The video is ...
Business
Shareholders of Nigerian Breweries Plc have approved the appointment of three new directors and set the board's total remuneration at N233.7 million for the 2026 financial year. These were parts of resolutions passed at the company’s 80th Annual General Meeting (AGM) held in Victoria Island, Lagos, on April 23, 2026, where shareholders endorsed a consolidated ...
