Business

As the Central Bank of Nigeria (CBN) presses ahead with its ambitious banking sector recapitalisation plan, two national banks are said to have entered into confidential merger talks in a bid to meet the regulatory…

Bayo Ojulari, the group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, says it is becoming a ‘bit more’ complicated to revamp state-owned refineries.  On November 26,…

Nvidia, a multinational technology company designing and producing graphics processing units (GPUs) and artificial intelligence (AI), has made history by becoming the first public company to hit a $4 trillion…

The President of the Dangote Group, Alhaji Aliko Dangote, has doubted the possibility of the state-owned Port Harcourt, Warri, and Kaduna refineries functioning again. Dangote also stated that the refineries,…

The Arewa Economic Forum (AEF), a leading northern Nigeria Economic and advocacy think-tank, has raised concerns over the Central Bank of Nigeria’s (CBN) new Bureau De Change (BDC) recapitalisation policy, describing…

…Mergers, investor talks intensify The capital shortfall facing Nigerian commercial banks has narrowed to N783.4 billion. This follows the successful recapitalisation of Stanbic IBTC Holdings, which has deepened…

Linda Yaccarino, the chief executive officer (CEO) of X, the social media platform formerly known as Twitter, has resigned. Ms Yaccarino’s resignation came two years after she took charge of the company owned by Elon…

Nigeria has secured $747 million syndicated loan to finance phase 1, section 1 of the Lagos-Calabar coastal highway. In a statement on Wednesday, Mohammed Manga, director of information and public relations at the…

Dangote Refinery has again, within a week interval, reduced its ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N840 per litre to N820 per litre, effective immediately. It would be…

The Nigerian Electricity Regulatory Commission (NERC) says power distribution companies (DisCos) generated N199.85 billion revenue in April. The NERC announced the revenue evaluation in its ‘DisCos commercial…

Bright Echefu, Chief Executive Officer of Telecom Satellites Limited (TStv), and three co‑defendants appeared before the Federal High Court in Abuja yesterday on an amended twelve‑count indictment brought by the Economic…

Former UK prime minister Rishi Sunak is set to join Goldman Sachs as a senior adviser, in his first major role since he resigned as Conservative party leader last year following Labour’s landslide general election victory.…

The Central Bank of Nigeria has directed banks to submit a capital restoration plan as part of regulatory efforts to support the exit from the forbearance regime. In a circular signed by the CBN Director of…

The Central Bank of Nigeria (CBN) says there are no hidden charges associated with the recently launched non-resident bank verification number (NRBVN) platform for Nigerians in the diaspora. On May 13, the CBN, in…

The International Monetary Fund (IMF) has endorsed Nigeria’s recent financial sector reforms, particularly those led by the Central Bank of Nigeria (CBN) under Governor Olayemi Cardoso. In its 2025 Article IV…

The Nigeria Data Protection Commission (NDPC) has fined Multichoice Nigeria the sum of N766.2 million for violating the Nigeria Data Protection Act (NDP Act). The Commission disclosed in a statement signed by its…

A Canadian pharmacy manager, Raelene Vandenbosch, is suing Rogers Communications and Match Transact Inc. after a 2021 SIM swap scam led to the theft of her Bitcoin, then worth about $531,000—now valued at around $1.8…

Nigeria’s electricity distribution companies collected N553.63bn in the first quarter of 2025 despite widespread complaints of low power supply,…

The Asset Management Corporation of Nigeria (AMCON) has listed the Silverbird Entertainment Centre in Abuja for sale to recover a longstanding…

Two commercial banks in Nigeria have announced the resumption of international transactions on their naira cards. In separate announcements to customers, United Bank of Africa (UBA) and Wema Bank said the service has…

A growing number of Nigerian bank customers are opting to disable their SMS alert services, citing the rising costs as a major concern, Daily Trust can report. The SMS alert service, which notifies account holders of…

The Oyo State Government has announced plans to support 1,000 young agropreneurs with a ₦1.5 billion fund in a renewed push to expand its agribusiness sector. The…

9mobile has confirmed its roaming partnership deal with MTN Nigeria, announcing that the service will be fully rolled out nationwide this July. On July 2, MTN announced a three-year national roaming agreement…

The Asset Management Company of Nigeria has announced that the Ibadan Electricity Distribution Company (IBEDC) has been sold. Gbenga Alake, the managing director (MD) and chief executive officer (CEO) of AMCON,…