Latest in
The Africa Finance Corporation (AFC) has announced a significant expansion of its sovereign shareholder base following an equity investment by the Bank of Tanzania (BOT). This strategic move reinforces the Corporation's pan-African ownership structure and underscores growing continental confidence in AFC’s capacity to mobilize long-term capital for critical infrastructure and industrial development. The investment follows ...
Abia State is poised to ink a $200m Palm Oil investment deal aimed at reclaiming the State's historical status as an agricultural powerhouse. Receiving a delegation from Presco PLC, Abia State Governor, Alex Otti expressed the state’s readiness to sign a Memorandum of Understanding (MoU) with the market-leading oil palm producer to formalize a $200 million investment in palm oil ...
The Nigerian Ports Authority (NPA) has revealed that the twin pillars of port modernization and the National Single Window (NSW) initiative could eliminate an estimated ₦1 trillion in annual losses currently caused by obsolete infrastructure and a lack of automation. According to the NPA Managing Director Dr. Abubakar Dantsoho, the full implementation of the NSW ...
In a decisive move to bolster its financial standing and meet the rigorous new capital requirements set by the National Insurance Commission (NAICOM), Guinea Insurance Plc has formally executed the signing ceremony for its ₦5.8 billion Rights Issue. This action, finalized in March 2026, marks a critical milestone in the company’s broader strategy to raise ...
The Nigerian Exchange (NGX) extended its positive trajectory on Tuesday, with the All-Share Index (ASI) climbing by 54 basis points to close at a historic 202,559.57. This upward momentum was largely propelled by intense bargain hunting in medium and large-cap stocks, particularly within the industrial and financial services sectors. Equity market capitalization reflected this surge, ...
In line with its long-standing commitment to regulatory compliance, financial security, and customer protection in Nigeria, OPay has launched XtraCova, a funds protection product that reimburses customers for verified unauthorised transactions. The product reinforces OPay’s focus on strengthening consumer confidence in digital financial services while supporting Nigeria’s transition toward a secure cashless economy. XtraCova offers reimbursement of up to ₦5,000,000 per ...
Nigeria and the United Kingdom are set to formalize a landmark £746 million financing agreement between UK Export Finance (UKEF), the Nigerian Ports Authority (NPA), and the Federal Ministry of Finance. This massive investment is specifically earmarked for the comprehensive modernisation of Nigeria’s primary maritime gateways, the Lagos Port Complex at Apapa Quays and the Tin ...
By Paul James, Abuja The House of Representatives Committee on Finance has queried the National Sugar Development Council (NSDC) over discrepancies in its sugar importation data. The Chairman of the panel, Hon. James Faleke, issued the query during a revenue monitoring exercise covering the 2023–2025 fiscal years, held at the National Assembly Complex in Abuja. ...
The Supreme Court of Nigeria has brought an end to a protracted legal battle over the ownership and sale of the Lagos Continental Hotel, ruling in favor of the Asset Management Corporation of Nigeria (AMCON). In its judgment delivered on Friday, February 20, 2026, the apex court set aside an earlier decision by the Court ...
The Chartered Institute of Bankers of Nigeria (CIBN) on Saturday inducted 2,020 professionals as chartered bankers, urging them to leverage Artificial Intelligence (AI) to drive innovation and strengthen Nigeria’s financial system. Speaking at the ceremony in Lagos, CIBN President, Prof. Pius Olanrewaju, said that the induction marked a defining moment in the careers of the ...
A sharp 38.3% decline in Value Added Tax (VAT) collections has significantly impacted the federation's distributable pool, as the three tiers of government shared N1.894 trillion for February 2026. The steep drop saw gross VAT revenue plummet from N1.083 trillion in January to just N668.450 billion in February, representing a loss of over one-third of ...
The Federal Government has called for a deepened strategic partnership with the United Nations Development Programme (UNDP) to address critical developmental gaps, specifically focusing on poverty alleviation and the enhancement of female participation in politics and governance. The Chief of Staff to the President, Hon. Femi Gbajabiamila, made this appeal on Thursday at the Presidential ...
United Bank for Africa (UBA) Plc hosted a high-profile edition of its quarterly Business Series on Thursday, gathering accomplished female leaders and entrepreneurs to explore the shifting paradigms of leadership under the theme “Gen.W: The Evolved Woman.” The hybrid event, held at the UBA House in Marina, Lagos, and broadcast to a global audience, served ...
United Bank for Africa (UBA) Plc hosted a high-profile edition of its quarterly Business Series on Thursday, gathering accomplished female leaders and entrepreneurs to explore the shifting paradigms of leadership under the theme “Gen.W: The Evolved Woman.” The hybrid event, held at the UBA House in Marina, Lagos, and broadcast to a global audience, served as a cornerstone of ...
The Nigerian Senate has confirmed the appointment of Taiwo Oyedele as Minister of State for Finance. During the cplenary session on Wednesday, Senate President Godswill Akpabio announced the confirmation after a voice vote at the Committee of the Whole. Oyedele, a renowned public policy expert and economist, is slated to step into the role of Minister of State for ...
The Chief Justice of Nigeria (CJN), Hon. Justice Kudirat M. O. Kekere-Ekun, has underscored the vital role of the Federal Competition and Consumer Protection Commission (FCCPC) in maintaining the integrity of the Nigerian marketplace.Speaking at the opening of a three-day Competition and Consumer Protection Law Conference held at the National Judicial Institute (NJI) in Abuja ...
The Group Chief Executive Officer (GCEO) of Guaranty Trust Holding Company (GTCO), Mr Segun Agbaje, has been named the winner of the 2025 Banking Pioneer Award by the Texcellence Conference Awards. The awards was organised by CWG Plc and now positioned as the definitive gathering for Africa’s technology leaders and an enterprise community that sets ...
United Bank for Africa (UBA) Plc is bringing together a powerhouse panel of female leaders for a special Women’s Month edition of its UBA Business Series. The event, themed “Gen W: The Evolved Woman,” is set for Wednesday, March 12, 2026, at UBA House in Lagos, and will also be broadcast live to a global ...
The Office of the Accountant-General of the Federation (OAGF) has issued a formal clarification regarding the non-payment of February 2026 salaries to staff within the Federal Ministry of Steel Development and four other government agencies. In a press statement released from the Treasury House on Monday, March 9, the OAGF attributed the delay to specific personnel cost ...
FCMB Group has officially secured its position as an international banking entity after meeting the N500 billion minimum capital requirement mandated by the Central Bank of Nigeria. This achievement marks a significant transition from its previous national license status, which required a lower threshold of N200 billion. By completing this capital raise ahead of the ...
United Bank for Africa (UBA) Plc is bringing together a powerhouse panel of female leaders for a special Women’s Month edition of its UBA Business Series. The event, themed “Gen W: The Evolved Woman,” is set for Wednesday, March 12, 2026, at UBA House in Lagos, and will also be broadcast live to a global digital ...
...as airport prepares to commence international hajj operations Dr. Akutah Pius Okeyima, the Executive Secretary and CEO of the Nigeria Shippers’ Council has hailed the Gateway International Airport as a transformative piece of infrastructure capable of resolving long-standing bottlenecks in cargo movement across Nigeria and the West African sub-region. The Shippers' Council boss made this ...
