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The Corporate Affairs Commission (CAC) has issued a warning to Nigerians to avoid conducting business with three companies found to be operating with fake registration documents and forged incorporation numbers. In an official notice, the CAC revealed that the affected firms SPEF Cooperative Society Ltd, UPIL Staff Cooperative Society Ltd, and PREM Staff Cooperative Society ...
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called on Nigeria’s affluent citizens to prioritise domestic investment, asserting that true national development is impossible without it, regardless of corruption challenges. Speaking to journalists, Dangote stressed that channelling wealth into the Nigerian economy is the only sustainable way to secure the country’s future ...
The Securities and Exchange Commission (SEC) has commenced investigations into 79 suspected Ponzi schemes across Nigeria, warning that those found culpable will face stringent legal action under the Investment and Securities Act (ISA). In a statement issued on Tuesday in Abuja, the Commission disclosed that among those under scrutiny is a firm known as FF ...
By Seun Ibiyemi President Bola Ahmed Tinubu has directed relevant federal agencies to take decisive steps in response to the recent visa policy changes by the United States and the United Arab Emirates affecting Nigerian citizens. This directive was disclosed in a statement issued on Tuesday in Abuja by Mr Bayo Onanuga, Special Adviser to ...
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has credited the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) with fostering stability, innovation, energy access, and sustained growth in the petroleum downstream sector through strategic and consistent regulatory guidance. According to DAPPMAN, the Authority’s “firm, fair and functional” oversight has boosted operational efficiency, ...
…Cites PIA success in attracting $16bn investments By Seun Ibiyemi The House of Representatives has restated its firm determination to put an end to crude oil theft, a persistent threat that is draining approximately $79.4 million from Nigeria’s economy each day. Deputy Speaker, Hon. Benjamin Okezie Kalu, made this known on Monday in Abuja at ...
By Seun Ibiyemi The Nigerian Aviation Handling Company Plc. (NAHCO) Export Packaging and Processing Centre (NEPPC) has received firm backing from the Nigeria Customs Service (NCS) in its mission to transform the country’s commodity export landscape. This assurance was given by the Controller-General of Customs, Mr Adewale Adeniyi, during a recent inspection of the NEPPC ...
Data usage in Nigeria surged to an all-time high of 1.04 million terabytes in May 2025, even as internet subscriptions across networks declined, according to the latest industry figures released by the Nigerian Communications Commission (NCC). The May figure marks the highest monthly data consumption since January 2023, when the telecom regulator began publishing monthly ...
By Seun Ibiyemi The Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, has criticised the Federal Government’s approval of a $300 helicopter landing fee, warning that it could open the door to arbitrary charges across the aviation sector. Speaking to journalists on Sunday in Lagos, Sanusi described the charge as unjustified and cautioned that ...
The Nigeria-Morocco Gas Pipeline project has recorded substantial progress, with recent Technical and Steering Committee meetings held in Rabat to assess developments and align future steps in line with previously signed Memoranda of Understanding among participating national oil companies. The sessions, convened by Morocco’s National Office of Hydrocarbons and Mines (ONHYM) on 10–11 July, brought ...
The Federal Airports Authority of Nigeria (FAAN) has confirmed the reopening of the runway at the Port Harcourt International Airport following a runway excursion involving Air Peace flight P47190 on Sunday morning. The aircraft, which was en route from Lagos, veered slightly off the runway after landing at the airport. No damage was recorded in ...
Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has announced its audited financial results for the year ended 31 December 2024, recording substantial year-on-year growth across all business segments and financial metrics. The Group posted a combined Gross Written Premium (GWP) of ₦61 billion for its life and general insurance operations, marking a 70% increase ...
By Seun Ibiyemi Barely three years after restricted usage, Nigerian banks have reinstated the ability for citizens to use naira-denominated debit cards for international transactions. A policy shift that signals renewed confidence in the nation’s foreign exchange market and a pivotal moment for the country’s digital economy. Recall that Nigerian banks last week resumed international ...
By Seun Ibiyemi The Presidency has dismissed reports suggesting that Nigeria has suspended the issuance of five-year multiple-entry visas to United States citizens, reaffirming its adherence to existing bilateral agreements and the principle of diplomatic reciprocity. In a statement issued on Thursday in Abuja, Presidential Spokesperson Mr Bayo Onanuga described the reports as “false and ...
The Securities and Exchange Commission (SEC) has called on stakeholders to take full advantage of the newly enacted Investments and Securities Act, 2025 (ISA 2025), as part of efforts to deepen Nigeria’s capital market and stimulate broader economic development. Dr Emomotimi Agama, Director-General of the SEC, made this appeal during a stakeholder forum held on ...
...Handles 20% of projected cargo By Seun Ibiyemi Lekki Deep Seaport, Nigeria’s first deep-sea port, has commenced full-scale transhipment operations to key ports in neighbouring West African countries, including Ghana, Togo, and Abidjan in Côte d’Ivoire, marking a major milestone in Nigeria’s maritime development. Speaking during a media parley on Thursday, the port’s Deputy Chief ...
The United Bank for Africa (UBA) Plc has unveiled plans to expand its banking footprints to more African nations in 2025. This was disclosed when UBA Group senior executives recently concluded the Group’s Half Year Business Review. Held at global headquarters in Lagos Nigeria, Group Managing Director/CEO, Oliver Alawuba, brought together executives responsible for UBA’s ...
…As NSC Cooperative records N156.4m Net Surplus, announces higher dividends amid economic uncertainty By Seun Ibiyemi The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Akutah Pius Ukeyima, MON, Esq, has called on members of the Council’s cooperative society to embrace long-term, high-yield investments as a strategy for building sustainable wealth ...
By Seun Ibiyemi The Sea Empowerment and Research Centre (SEREC) has appealed to the Federal Government to collaborate with international insurance providers to reassess Nigeria’s maritime risk profile and renegotiate the war risk insurance premiums imposed on vessels bound for Nigerian ports. This appeal was contained in a communiqué released on Wednesday in Abuja by ...
The Tinubu Media Support Group (TMSG) has dismissed the International Monetary Fund’s (IMF) recently revised economic growth forecast for Nigeria, describing it as an underestimation of the country’s economic strength and potential. In a statement released on Wednesday in Abuja and jointly signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group argued ...
The Corporate Affairs Commission (CAC) and the Nigeria Social Insurance Trust Fund (NSITF) have formalised plans to collaborate on enhancing the nationwide implementation of the Employee Compensation Scheme (ECS). This development emerged on Tuesday in Abuja during a courtesy visit by the Managing Director and Chief Executive of NSITF, Mr Oluwaseun Mayomi Faleye, to the ...
The Senate has directed its relevant Committees to undertake a thorough investigation and convene a public hearing into the operations of Ponzi schemes in Nigeria, following the collapse of the Crypto Bullion Exchange (CBEX), which reportedly defrauded investors of over N1.3 trillion. The investigation will be conducted by the Committees on Capital Market; Banking, Insurance ...
...Bans transit visa applications...As FG expresses concern over U.S. new visa regime for Nigeria By Seun Ibiyemi The United Arab Emirates (UAE) has introduced stringent new visa restrictions for Nigerian travellers, further complicating access to one of the Middle East’s most popular destinations for tourism and business. Multiple travel agents confirmed on Tuesday that, under ...
