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By Seun Ibiyemi The Nigeria Civil Aviation Authority (NCAA) has instructed all international airlines operating into the country to fully implement the $10,000 currency declaration requirement for passengers arriving in Nigeria. Travellers carrying cash or Bearer Negotiable Instruments (BNI) above $10,000 must declare them on arrival. Airlines are mandated to make onboard announcements and distribute ...
The Natural Oil & Gas Suppliers Association of Nigeria (NOGASA) has raised strong objections to Dangote Refinery’s plan to supply petroleum products directly to end users, warning that the move could create a monopoly and lead to widespread job losses across the oil and gas value chain. NOGASA President, Benneth Korie, expressed concern that the ...
Nigeria’s pension industry recorded significant growth in May 2025, with Assets Under Management (AUM) rising by N452 billion to reach N24.12 trillion, driven by steady gains across major asset classes compared to April. Retirement Savings Account (RSA) registration also rose by 44,938 during the month, bringing the total number of enrollees to 10,763,593, up from ...
The Nigerians in Diaspora Commission (NiDCOM) has teamed up with First Bank Plc to roll out tailored diaspora banking services for Nigerians living in the United Kingdom. NiDCOM announced the partnership in a statement by its spokesperson, Abdur-Rahman Balogun, on Monday in Abuja. Balogun explained that the collaboration was unveiled during the Nigeria UK Festival ...
The Corporate Affairs Commission (CAC) has postponed the enforcement of new charges for downloading approved documents on its upgraded Company Registration Portal after technical hitches and complaints from users. Originally slated to take effect on August 1, the enforcement will now begin on September 1, 2025. Under the new directive, penalties will apply to users ...
By Seun Ibiyemi No fewer than 500 journalists from within and outside Nigeria have undergone training in emerging digital journalism skills, courtesy of Polaris Bank. Management of the bank said the gesture was aimed at equipping the journalists with the skills and knowledge needed to adapt to evolving media trends. Held in Victoria Island, Lagos, ...
The Central Bank of Nigeria’s (CBN) survey has revealed that 65.8 percent of Nigerians want the monetary authority to cut interest rates. The finding comes just days before the Monetary Policy Committee (MPC) convenes for its July meeting to decide on the future direction of interest rates. The CBN’s Inflation Expectations Survey, published on its ...
By Seun Ibiyemi Nigeria’s total public debt could rise to N160.6 trillion by the end of 2025, raising new concerns about the country’s deepening fiscal vulnerabilities. This projection is contained in the latest H2 2025 economic outlook report released by CSL Stockbrokers Limited, a subsidiary of FCMB Group Plc. According to the report, the Federal ...
By Grateful Ogunjebe The Corporate Affairs Commission (CAC) has defended its newly deployed Artificial Intelligence-powered registration platform, stating that it remains efficient, cost-effective and in line with global standards, despite criticisms raised by some legal practitioners. Responding to a media report titled “Lawyers Decry CAC’s AI Portal, Cite Challenges,” the Commission, in a statement issued ...
Zenith Bank Plc has been recognised as “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025, cementing its status as the country’s standout financial institution and taking home the most prestigious national honour. The award, presented on Thursday, 17 July 2025, at The Peninsula in London, underscores the bank’s commitment to providing exceptional banking ...
Zenith Bank Plc today announced it has been named "Nigeria’s Best Bank" at the prestigious Euromoney Awards for Excellence 2025. The highly coveted country award was presented to the bank at a ceremony held at The Peninsula, London, recognizing its outstanding performance, innovative services, and significant contributions to the Nigerian financial landscape. The Euromoney Awards ...
Odu’a Investment Company Limited (OICL), the investment holding company jointly owned by the six South-West States of Nigeria, is pleased to announce that the leading credit rating agency, Agusto & Co has upgraded its corporate rating to ‘Aa-’ with a Stable Outlook in its recently released 2025 Corporate Rating Report. The upgrade from the previous ...
By Grateful Ogunjebe With the Central Bank of Nigeria’s (CBN) recapitalisation deadline drawing closer, Nigerian banks are intensifying their capital-raising efforts through a mix of strategic offerings, rights issues, and international listings to meet new regulatory requirements and reinforce their capital strength. Sterling Financial Holdings Company has unveiled plans to raise $400 million under a ...
By Seun Ibiyemi The Nigerian Maritime Administration and Safety Agency (NIMASA) has sealed off ShellPlux and TMDK Terminals, both located in the Ijegun-Egba area of Lagos, over their persistent failure to comply with the International Ship and Port Facility Security (ISPS) Code. As the Designated Authority for enforcing the ISPS Code in Nigeria, NIMASA took ...
By Olakunle Oke The Nigerian Communications Commission (NCC) has introduced a pioneering regulatory model designed to spur innovation and expand access across the country’s rapidly advancing telecommunications sector. Speaking at a stakeholder engagement forum on Wednesday, the Executive Vice Chairman and Chief Executive Officer of the NCC, Dr Aminu Maida, presented the new General Authorisation ...
Economic experts have called on the Federal Government to adopt a deliberate and coordinated strategy to de-risk Nigeria’s business environment and introduce long-term investment incentives to maintain the country’s current GDP growth trajectory. This position was articulated at the Lagos Chamber of Commerce and Industry (LCCI) 2025 Mid-Year Economic Review held in Lagos. Gabriel Idahosa, ...
By Grateful Ogunjebe A rare off-market transaction involving 10.43 billion shares of First Bank Holdings Plc (First HoldCo) has sparked fresh interest on the Nigerian Exchange (NGX), as billionaire investor and Chairman of the group, Femi Otedola, tightened his grip on the institution in what market analysts are describing as a major boardroom shift. The ...
…Drive fiscal transparency The Federal Inland Revenue Service (FIRS) and the Office of the Accountant-General of the Federation (OAGF) have announced a coordinated effort to tighten tax compliance across Ministries, Departments, and Agencies (MDAs), in a bid to overhaul Nigeria’s public sector revenue system and improve fiscal transparency. The joint initiative, unveiled during a two-day ...
By Franca Ochigbo, Chairman of First HoldCo Plc, Femi Otedola, says he will soon unveil key insights from his business journey, aimed at inspiring the next generation of Nigerian entrepreneurs. The billionaire businessman made the announcement in a post shared on his verified X account on Wednesday, noting the significant evolution of Nigeria’s business environment ...
By Titus Atondu, Makurdi The Group Managing Director and Chief Executive Officer of the Benue Investment and Property Company (BIPC), Dr Asemakaha Amaabai, has disclosed that the agency has directly employed 580 individuals and facilitated 3,008 indirect jobs in under two years through its revitalised business ventures. Speaking during an engagement with journalists in Makurdi, ...
By Olakunle Oke As Nigeria’s downstream oil and gas industry contends with global market disruptions, key players have credited the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) with spearheading reforms that have fostered competition, improved supply, and enhanced consumer outcomes. The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) attributed these gains to ...
...As CPPE commends inflation slowdown, flags worrying price pressures, policy gaps By Seun Ibiyemi Nigeria’s headline inflation rate dipped to 22.22 per cent in June 2025, according to the latest Consumer Price Index (CPI) and Inflation Report released by the National Bureau of Statistics (NBS) in Abuja on Wednesday. The figure represents a decline of ...
...As Agusto & Co upgrades OICL credit rating to Aa- By Grateful Oluseun Ogunjebe Wemabod Limited has officially commenced the redevelopment of its historic Awolowo House in Ikeja, Lagos, transforming the landmark property into a cutting-edge commercial facility named the Awolowo Tech Mall. The groundbreaking ceremony, held on Wednesday, July 16, 2025, brought together ...
