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World Bank appointment: I’m honoured, says Dangote
The President and Chief Executive of the Dangote Group, Aliko Dangote, has expressed gratitude over his appointment to the World Bank’s Private Sector Investment Lab, a body tasked with boosting investment and…
Why kerosene is scarce — PETROAN, IPMAN
Some petroleum marketers under the aegis of the Petroleum Retailers Outlet Owners Association of Nigeria and Independent…
‘Lesotho makes jeans but doesn’t sell in Africa’ — Okonjo-Iweala bemoans weak intra-regional trade
Ngozi Okonjo-Iweala, the director-general of the World Trade Organisation, says Africa needs to strengthen intra-regional trade and be more self-reliant in the face of reciprocal tariffs. Okonjo-Iweala spoke to…
EFCC Declares Cbex Promoters Wanted
The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted over the alleged investment fraud perpetrated on Crypto Bridge Exchange (CBEX), a trading platform. The four suspects are…
Grain Hoarders Face Massive Losses Over Declining Prices
Grain hoarders across Niger State are biting their fingers following the continuous crash in the prices of grains and other foodstuffs. Weekend Trust gathered that some traders took millions of naira in loans from…
BREAKING: Tribunal upholds FCCPC’s $220m fine against Meta
—-FCCPC hailed for landmark victory as Tribunal affirms consumer protection mandate In a significant victory for Nigerian consumers,…
FG hauls N29bn from new fintech tax
...As EMTL jumps 57% in 12 months The federal government has made N79.93 billion from the Electronic Money Transfer Levy (EMTL)…
Nigeria suffers third defeat in $380m NLNG case in London
Nigeria’s bid to overturn a $380m award to oil trading firms Glencore and Vitol was unanimously rejected on 16 April…
Nigeria’s EFCC investigates Aisha Achimugu for $150m fraud
A Nigerian businesswoman who made national headlines last year for throwing a seven-day birthday party at the $132,000 per night Calivigny…
World Bank appoints Aliko Dangote to elite group
The President and Chief Executive of the Dangote Group, Aliko Dangote, has been appointed to the World Bank’s Private Sector Investment Lab, joining a…
Court Orders Arrest Of CBEX Promoters
A Federal High Court in Abuja has ordered the arrest of six Crypto Bridge Exchange (CBEX) promoters over investment fraud. Justice Emeka Nwite gave the order following an ex parte application filed by the Economic and…
NEC approves new textile Dev Board, $90B agribusiness, livestock strategy
— “We’re architects of a sustainable future, not mere responders to crises” – VP Shettima The National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment Development…
Broaden subsidy reforms with fiscal discipline – IMF tells FG
…Sees Nigeria spending 4.5% more than revenue in 2025 The International Monetary Fund (IMF) has underscored the critical need for countries, including Nigeria, to strengthen their fiscal positions, highlighting…
EU fines Apple and Meta €700m, risking Trump fury
The EU on Wednesday slapped Apple and Meta with 700 million euros in fines for breaking digital competition rules, risking the wrath of US President Donald Trump. The penalties threaten to cause more tension in the…
IOCs Bypass Direct Crude Supply To Dangote Refinery, Others
International Oil Companies (IOCs) operating in Nigeria continue to bypass direct crude supply to local refineries, even as the country grapples with an estimated 60 million barrels of stranded crude oil. This ongoing…
Naira trades flat as CBN accounts for 50% dollar inflows
The naira on Tuesday closed flat at the official foreign exchange (FX) market as the Central Bank of Nigeria (CBN) recorded the highest dollar…
Aso Rock solar plan amplifies national grid failure
Imagine how investors would react if Jeff Bezos sold his Amazon shares or Elon Musk offloaded a chunk of Tesla stock. That’s the same…
BREAKING: IMF projects 37% inflation rate for Nigeria in 2026
The International Monetary Fund (IMF) has projected that Nigeria’s headline inflation will average 26.5% in 2025, following a recent rebasing of the Consumer Price Index (CPI) by the National Bureau of Statistics…
CBN: Cash Is King, As Nigerians Keep N4.6 trn Out Of Banks
Nigerians and other national living in the country prefer to hold on to their cash rather than keep them in the banks, according to the data released by…
Gold price hits record high above $3,500
Gold reached $3,500 an ounce for the first time Tuesday, as US President Donald Trump’s tariffs and verbal attack against the Federal Reserve sent investors snapping up the safe haven asset. The precious metal reached an…
Manufacturers groan as alternative energy gulps N1.1tr in one year
The manufacturing sector continues to groan under the weight of multiple grid failures and high energy costs, resulting in N1.11 trillion in…
13 Insurance Firms May Lose Licences Over Incoming New Insurance Act
As the 2024 Consolidated Insurance Bill awaits the presidential assent anytime soon after going through legislative processes in the both chambers of the National Assembly, 12 licensed composite insurance…
Nigeria’s foreign investments hit two-year high on juicy returns
Foreign investments into the Nigerian economy soared to its highest in at least two years on favourable returns buoyed by the Central Bank of Nigeria (CBN)’s jumbo rate hikes targeted at luring capital. Capital…
Manufacturers’ unsold inventory surges 87.5% to N2.14trn
A weakened consumer demand, escalating production costs and declining purchasing power pushed the value of unsold manufactured goods to N2.14 trillion in 2024 from about N1.142 trillion in 2023. This indicates…