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Digital Economy
The Securities and Exchange Commission (SEC) has raised alarm over the rising wave of Artificial Intelligence (AI)-driven scams. According to SEC, AI-driven manipulated videos of politicians, celebrities, and TV hosts are now being shared widely through Facebook advertisements, Instagram reels, and Telegram groups. In a statement on Sunday, SEC said fraudsters are exploiting AI tools ...
Story behind the figures
Transnational Corporation Plc (Transcorp) delivered a robust financial performance in the first half of 2025 (H1 2025), showcasing significant resilience despite ongoing domestic and global economic turbulence. The conglomerate’s strategy of an integrated management structure and cost optimization helped it achieve remarkable top-line growth, primarily fueled by its Power and Hospitality segments. Group financial highlights ...
Business
The Central Bank of Nigeria (CBN) has swung from a ₦1.3 trillion deficit in 2023 to a ₦165 billion surplus in 2024 while raising the nation’s foreign reserves to $38.8 billion, according to an independent assessment by the Transparency Advocacy for Development Initiative (TADI). The policy think-thank commended Governor Yemi Cardoso’s reforms in transparency, governance, ...
Capital Market
Investors in the Nigerian equities market gained N155bn at the close of trading on Monday, driven by renewed interest in select stocks. The market upturn was buoyed by price appreciation in Thomas Wyatt Nigeria, Skye Shelter Fund Plc, and LivingTrust Mortgage Bank, among others, lifting the benchmark All-Share Index (ASI) to 142,377.56 points from 142,133.02 ...
Business Direct
The Centre for the Promotion of Private Enterprise (CPPE) has strongly advised the Federal Government to swiftly capitalize on recent major economic policy shifts, specifically the unification of the exchange rate and the removal of the fuel subsidy, to chart a definite path toward economic diversification, stability, and inclusive growth. Sixty five years after independence, ...
Capital Market
Despite experiencing a three-day losing streak, the Nigerian equities market closed the just-ended trading week with a net gain of N216 billion, as market capitalisation rose to N89.9 trillion from N89.7 trillion the previous week. Similarly, the All-Share Index (ASI) appreciated by 0.20 per cent, settling at 142,133.03 points compared to 141,845.35 points recorded the ...
Capital Market
The Securities and Exchange Commission (SEC) has raised alarm over the rising wave of Artificial Intelligence (AI)-driven scams. According to SEC, AI-driven manipulated videos of politicians, celebrities, and TV hosts are now being shared widely through Facebook advertisements, Instagram reels, and Telegram groups. In a statement on Sunday, SEC said fraudsters are exploiting AI tools ...
Business Direct
The Centre for the Promotion of Private Enterprise (CPPE) has stated that Nigeria's economy is not only on a recovery path but also gaining traction despite lingering structural and macroeconomic challenges. This is as the Policy think-thank hailed the recent growth fugures released by the National Bureau Statustics (NBS) highlighting that Nigeria's real Gross Domestic Product (GDP) ...
Business
Unity Bank Plc has clarified that the 34 percent equity stake previously held by the Asset Management Corporation of Nigeria (AMCON) was acquired by an existing shareholder of the bank, not by Providus Bank Limited. In a statement over the weekend, the Bank explained that the stake, representing over 4.004 billion shares, was purchased by ...
Story behind the figures
Transnational Corporation Plc (Transcorp) delivered a robust financial performance in the first half of 2025 (H1 2025), showcasing significant resilience despite ongoing domestic and global economic turbulence. The conglomerate’s strategy of an integrated management structure and cost optimization helped it achieve remarkable top-line growth, primarily fueled by its Power and Hospitality segments. Group financial highlightsTranscorp’s ...
Maritime
The Founder and Group Managing Director/Chief Executive Officer of Solewant Group, Mr. Solomon Ewanehi has urged the formalization of maritime cooperation frameworks as a key step toward unlocking the vast energy, oil and gas, and maritime opportunities in the Gulf of Guinea. Ewanehi made this call while delivering a goodwill message at the High-Level Roundtable ...
Maritime and Blue Economy
...harps on increased private sector investment to unlock growth The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has issued a strong call for greater private sector participation to unlock the vast, underfunded opportunities within Nigeria’s blue economy. Speaking in Lagos on Thursday at the 2025 World Maritime Day celebration, ...
Business
The Independent Media and Policy Initiative (IMPI) has applauded the Central Bank of Nigeria’s (CBN) decision to reduce the Monetary Policy Rate (MPR) to 27 per cent, describing it as a bold step towards stimulating economic growth. On Wednesday, Dr. Omoniyi Akinsiju, the Chairman of IMPI, announced in a statement that the group's recent move ...
Transport
The Minister of Transportation, Senator Sa'idu Ahmed Alkali, and his Marine and Blue Economy counterpart, Adegboyega Oyetola have reaffirmed the Federal Government’s commitment to transforming the country’s transport and Marine sectors through massive infrastructure investment, manpower development, and policy reforms. Speaking at the 2025 Nigeria Transport Sector Summit organized by the Transport Correspondents Association of ...
Maritime and Blue Economy
The Federal government through the Minister of Marine and Blue Economy, Adegboyega Oyetola, has unveiled a new National Marine and Blue Economy Policy designed to cut logistics costs, boost trade competitiveness, and attract private sector investment into the transport and maritime sectors. Oyetola, who was represented by the Director Maritime Services Department of Federal of ...
Money market
President Bola Ahmed Tinubu and Kola Adesina, Group Managing Director of Sahara Power Group are set to headline the Chartered Institute of Directors (CIoD) Nigeria's 2025 Annual Directors' Conference. The prestigious event, which is the largest gathering of directors and boardroom executives in Africa, will bring together industry leaders, entrepreneurs, and corporate governance enthusiasts to ...
Money market
In a move to improve accessibility, First Bank of Nigeria Limited has announced the rollout of specialized banking services for customers with visual and physical disabilities. The initiative, according to the bank, underscores its commitment to financial inclusion and diversity, reinforcing its position as a leading service provider in West Africa. Patrick Akhidenor, Chief Risk ...
Money market
Guaranty Trust Holding Company Plc (GTCO) has released its audited results for the half year ended June 30, 2025, crossing the ₦1 trillion gross earnings milestone while sustaining its interim dividend payout of ₦1.00 per share, despite a sharp profit decline. The group posted a pre-tax profit of ₦601 billion, compared with ₦1 trillion in ...
News
...Credit easing a timely boost for growth — CPPE In a historic policy shift, the Central Bank of Nigeria (CBN) on Tuesday reduced its benchmark interest rate the Monetary Policy Rate (MPR) for the first time in five years, lowering it by 50 basis points to 27 per cent. The apex bank also adjusted key ...
Maritime and Blue Economy
West Africa Container Terminal (WACT) APM Terminals Nigeria and the Nigerian Ports Authority (NPA) have signed a memorandum of understanding (MoU) to advance decarbonisation in Nigeria’s port and transport ecosystem through container freight electrification. The agreement, signed in New York at the Dutch Consulate during the Global African Business Initiative week, provides a framework to ...
