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8 DisCos fined N628m for overbilling unmetered customers
The Nigerian Electricity Regulatory Commission (NERC) has sanctioned eight power distribution companies (DisCos) for noncompliance with the capping of estimated bills for unmetered customers.
A statement yesterday, NERC…
MTN Plans Second Public Offer in Nigeria
African telecommunications giant, MTN Group, has announced plans to reduce its shareholding in MTN Nigeria through a public offer as it foresees the return…
Nigeria’s Eurobond rises to record high as trade war sparks massive selloffs
In a dramatic turn of events, Nigeria’s Eurobond market has come under heavy pressure, echoing the shockwaves rippling through global financial markets.
A bold and controversial move by U.S. President Donald Trump, who…
Dangote Cement: King at home, but struggling to impose in Africa
Have Dangote Cement’s pan-African operations plateaued as Chinese competition grows?
In 2024, Dangote Cement soared past…
Subsidy Claims: First Bank Ordered To Refund N1.07bn Erroneously Received
A Federal High Court, Lagos, has ordered First Bank Plc, to refund the sum of N1, 071,227,023.00 billion, erroneously received from Debt Management Office (DMO) as subsidy claims, Excess Bank interest and Foreign…
Who is Igho Sanomi, man at the centre of the $380m Taleveras‑NLNG court victory?
The Taleveras founder’s latest court victory highlights the intricate legal and financial manoeuvres that define Nigeria’s oil trade.…
Dangote, Chagoury, Aliu: Meet the winners and losers of Kyari’s NNPC exit
President Tinubu’s dismissal of NNPC CEO Mele Kyari has sent ripples through Nigeria’s oil sector, creating opportunities for some……
Prada buys rival Versace for $1.38 billion to create Italian fashion powerhouse
The acquisition will create a luxury group with revenues of over 6 billion euros, which could better compete with industry giants such as the French conglomerates LVMH and Kering amid a slowdown in the sector worldwide.…
Nigeria’s $36bn budget under siege as oil price falls and US tariffs bite
Tinubu’s economic plan is under strain as political unrest in Rivers State compounds revenue shortfalls.…
US Dollar Slumps On Stop-Start Tariffs
The US dollar plunged against the euro and other main rivals again on Thursday after President Donald Trump abruptly paused higher tariffs on all countries except China, adding to investor uncertainty.
The greenback…
BREAKING: Dangote Refinery Slashes Ex-Depot Petrol Price
Dangote Petroleum Refinery and Petrochemicals has reviewed its ex-gantry loading cost of petrol to ₦865 per litre.
It was gathered that the $20bn refinery informed its marketers and customers of the slash on…
MTN, Airtel Agree To Network Sharing In Nigeria, Uganda
MTN Group and Airtel Africa have entered into agreements to share network infrastructure in Nigeria and Uganda, while ensuring compliance with local regulatory and statutory requirements.
A joint statement on…
US-China tariff war could cut trade between both countries by 80% — WTO chief, Okonjo-Iweala
The World Trade Organization chief said Wednesday the US-China tariff war could reduce trade in goods between the two economic giants by 80 percent, pulling down the rest of the world economy.
President Donald Trump…
We must fix electricity to build $1tn economy – Elumelu
Chairman of Transcorp Group, Mr Tony Elumelu, has said that Nigeria’s ambition to build a $1tn economy cannot be realised without urgent and sustained efforts to address challenges in the country’s electricity sector.…
Nigeria records $6.83 billion balance of payments surplus in 2024 – CBN
Nigeria recorded a balance of payment (BOP) surplus of $6.83 billion in 2024, marking a sharp reversal from consecutive deficits posted in the prior two years.
The latest figures, released by the Central Bank of…
NDIC to pay 100% liquidation dividend to depositors of 20 failed banks
The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will pay a 100% liquidation dividend to depositors of 20 previously failed banks, marking a major milestone in the agency’s commitment to financial…
China claps back with 84% tariff on U.S imports, escalating trade war
China has responded to Donald Trump’s tariff policies by increasing its levies on U.S. imports to more than 80%.
The move was announced by China’s Office of the Tariff Commission of the State Council, and it disclosed…
BREAKING: FG confirms continuation of crude, refined product sales in Naira initiative
The Federal Government has confirmed the crude and refined product sales in Naira initiative remains a standing national policy and will continue indefinitely.
However, the policy will stay in place as long as it…
Pension cash floods infrastructure as assets triple
Nigerian pension fund managers have tripled their exposure to infrastructure over the past five years, driven by better…
Elon Musk Loses $100 Billion in Four Months Amid Tesla Struggles
Elon Musk, the CEO of Tesla and SpaceX, has experienced a substantial financial setback, losing an astonishing $100 billion over a span of just four months.This significant…
Pascal Gabriel Dozie: His life, businesses & passion for banking
Pascal Gabriel Dozie, founder of the defunct Diamond Bank Plc and former chairman of MTN Group, died yesterday, a day before his 86th birthday.
At 85, Edozie was a prominent businessman whose passion for banking…
Naira still holds value… N2,500 can get you a meal in Lekki – Tope Fasua
Tope Fasua, special adviser on economic affairs in the office of the vice president, says concerns over naira value and poverty are misunderstood.Fasua was…
‘Malignant Stupidity’, ‘Weak’: Economists On Trump’s Tariffs
A wide range of economists are voicing alarm over US President Donald Trump’s tariffs blitz, which has sparked a trade war that experts say could lead to a global recession.
Here are comments from some leading…
UPDATED: Visionary Banker Pascal Dozie Dies at 85
One of Nigeria’s most respected bankers, entrepreneurs, and nation-builders, Pascal Gabriel Dozie, has passed on at the age of 85.
A family member who confirmed…