Reporter
2,051 stories
Business Direct
The Federal Government on Wednesday announced that it had collected a record ₦20.59 trillion in revenue between January and August 2025, marking a significant milestone in Nigeria’s push to reduce reliance on oil income and strengthen non-oil revenue streams. The disclosure was contained in a statement issued by Bayo Onanuga, Special Adviser to the President ...
News
The Nigeria Customs Service (NCS), Federal Operations Unit, Zone A (FOU A), has announced a series of high-profile interceptions involving firearms, ammunition, and two industrial drones, following coordinated enforcement operations across the Southwest region. A statement signed by Comptroller Mohammed Shuaibu described the seizures as part of a sustained crackdown on smuggling syndicates that pose ...
Energy
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the appointment of Mr Andy Odeh and Mrs Morenike Adewunmi to strategic leadership positions, strengthening its corporate communications and stakeholder engagement teams. A statement issued by the company’s management on Tuesday confirmed that Odeh has been named Chief Corporate Communications Officer, while Adewunmi will serve ...
Business Direct
The Central Bank of Nigeria (CBN) has announced plans to deploy fresh Open Market Operations (OMO) this week to absorb an estimated ₦784 billion expected to flow into the banking system. A schedule of the inflows shows that OMO maturities worth ₦459.60 billion are due today, while Nigerian Treasury Bill (NTB) maturities totalling ₦324.41 billion ...
Business
President Bola Ahmed Tinubu has declared that Nigeria will no longer rely on domestic borrowing to finance its operations after his administration surpassed its projected non-oil revenue target for 2025. Addressing a delegation of the Buhari Group on Tuesday at the Presidential Villa, the President announced that non-oil tax revenue for the first seven months ...
Business
The Nigeria Customs Service (NCS), Federal Operations Unit, Zone A (FOU A), has announced major interceptions of firearms, ammunition, and two industrial drones in coordinated enforcement operations across the Southwest region. According to a statement signed by Comptroller Mohammed Shuaibu, the seizures were part of an ongoing offensive against smuggling networks threatening national security. On ...
News
The Nigerian Deposit Insurance Corporation (NDIC) has received the prestigious “Institutional Leadership in Risk Advocacy” award from the Chartered Risk Management Institute (CRMI), recognising its efforts in championing sound risk management practices within Nigeria’s financial system. The award was presented at the 2025 CRMI Annual International Conference, held at Eko Hotel & Suites, Victoria Island, ...
News
President Bola Tinubu has reaffirmed his administration’s commitment to delivering nationwide development, insisting that current policies and infrastructure projects are designed to spur economic growth and create opportunities across all regions of Nigeria. Responding to criticism over perceived favouritism in federal initiatives, Tinubu, in a post on his X handle early Monday, said his government ...
Business Direct
The Securities and Exchange Commission (SEC) Nigeria has rolled out a fully redesigned website, describing it as a major milestone in its drive to boost digital engagement, strengthen regulatory transparency, and enhance investor protection. Announcing the development on Monday, the Commission said the upgraded platform features a sleek, mobile-responsive interface, improved navigation, and streamlined resources ...
Capital Market
The Debt Management Office (DMO) has launched the September 2025 Federal Government of Nigeria (FGN) savings bonds, offering investors attractive interest rates of up to 16.541 per cent per annum. Subscriptions opened on Monday, September 1, 2025, and will close on Friday, September 5, with settlement scheduled for September 10. Interest payments will be made ...
Capital Market
…Expand nationwide presence Union Bank of Nigeria, one of the country’s longest-established financial institutions, has successfully completed its merger with Titan Trust Bank Limited following final approval from the Central Bank of Nigeria (CBN). Olufunmilola Aluko, Head of Brand and Marketing, said the milestone concludes a process that began with the signing of a Share ...
Capital Market
...Records zero bad loans in six years Globus Bank has exceeded the Central Bank of Nigeria’s (CBN) recapitalisation mandate by raising more than ₦200 billion in fresh capital ahead of the first-quarter 2026 deadline. Managing Director and Chief Executive Officer Elias Igbinakenzua disclosed this during an interview with journalists, explaining that the six-year-old lender, which ...
Capital Market
Trading on the Nigerian Exchange Limited (NGX) started the new month on a negative trajectory, with profit-taking in banking, industrial, and oil & gas stocks pulling the market down by 0.41 percent on Monday. The All-Share Index (ASI) closed at 139,722.19 points, down from 140,557.24 points, while market capitalisation declined by N528 billion to N88.406 ...
Business Direct
President Bola Ahmed Tinubu has announced plans to replicate with Colombia the agreements recently signed with Brazil on aviation and economic cooperation, as part of a wider strategy to deepen Nigeria’s international partnerships. The President made the declaration on Monday while hosting Colombia’s Vice President, Francia Márquez, at the State House in Abuja. He noted ...
Business
The Nigerian Maritime Administration and Safety Agency (NIMASA) has concluded a high-level strategic retreat aimed at aligning its operations with both Presidential and Ministerial priorities for the maritime and blue economy sector. The retreat, which brought together departmental and unit heads, culminated in the signing of Performance Bonds with the Agency’s Executive Management. The move ...
Capital Market
The Nigerian equities market ended the week on a downward trajectory, with a noticeable slowdown in trading activity as investors exchanged 3.199 billion shares worth ₦85.399 billion in 142,477 transactions. This represented a 25.8 per cent fall in value compared with the ₦107.426 billion traded across 152,965 deals in the previous week. The Financial Services ...
Capital Market
Insurance and industrial stocks drove a strong August rally on the Nigerian Exchange (NGX), extending gains and leaving the sector leaders as the month’s standout performers. The benchmark NGX All-Share Index (ASI) rose to 145,754.91 points in the week ending 8 August, a weekly increase of 3.18 per cent. Market capitalisation climbed to ₦92.2 trillion, ...
Politics
...Why Lagos, Abuja deserve more investments, cannot be ignored – Dare The Federal Government has reaffirmed that President Bola Ahmed Tinubu’s administration has been equitable in allocating projects, appointments, and opportunities across Nigeria’s six geopolitical zones. Minister of Information and National Orientation, Mohammed Idris, said in a statement on Sunday that speculation and misinformation about ...
News
The Federal Government of Nigeria has secured Tanzania’s official backing for its candidacy into Category C of the International Maritime Organization (IMO) Council, a key step in the country’s efforts to strengthen its voice in global maritime policy. Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, made the disclosure in a statement released on ...
News
…Issues over 867 mining licenses in 2025 The Minister of Solid Minerals Development, Dr Dele Alake, has underscored the critical role of Nigeria’s capital market in unlocking the nation’s estimated $700 billion worth of untapped solid mineral assets. Speaking at a webinar organised by NASD Plc and the Solid Minerals Development Fund (SMDF), themed “Unlocking ...
