TRT Manufacturing and TradeDepot have unveiled the Africa Trade Engine (ATE), a groundbreaking initiative designed to tackle Africa’s $50 billion annual import deficit. The joint venture seeks to strengthen local production and boost intra-African trade, positioning itself as a private-sector accelerator for the African Continental Free Trade Area (AfCFTA). By integrating industrial capacity, digital trade […]
Year: 2025
Senator Calls for Review of 30% Capital Gains Tax Amid N2tn Market Loss
The Chairman of the Senate Committee on Capital Market and Institutions, Senator Osita Izunaso, has urged the Federal Government to review the newly introduced 30% Capital Gains Tax (CGT) on share sales. Speaking at the Moneyline with Nancy Investment Forum 2025 in Abuja, Izunaso warned that the policy has already triggered a N2 trillion loss […]
European Stocks Edge Higher as U.S. Government Shutdown Ends; Burberry Surges 7% on Strong Sales
European markets opened higher on Thursday, tracking global optimism after the United States ended its protracted government shutdown. The pan-European Stoxx 600 index was up nearly 0.1% by mid-morning in London, as investors digested the political resolution in Washington and its potential ripple effects across global markets. Market performances were mixed across the region. While […]
Ellah Lakes Launches ₦235bn Public Offer to Drive ₦200bn Revenue Ambition
Nigerian agribusiness giant Ellah Lakes Plc has announced the launch of a ₦235 billion public offer, marking a bold step in its growth and expansion drive. The fundraiser is a cornerstone of the company’s five-year strategy to achieve ₦200 billion in annual revenue, with a focus on scaling its agricultural operations, enhancing processing capacity, and […]
Presco Plc Launches N236.67 Billion Rights Issue to Drive Expansion and Acquisitions
Presco Plc has opened a N236.67 billion Rights Issue, inviting existing shareholders to increase their equity in the company as it pursues expansion and acquisitions in Nigeria’s agro-industrial sector. The offer, which opened on November 12, 2025, will close on December 2, 2025, according to a statement from the company secretary, Frederick Ichekwai. The Rights […]
SEC Partners with Cambridge and Busha to Launch Digital Assets Education Programme in Nigeria
The Securities and Exchange Commission (SEC) of Nigeria has teamed up with Cambridge Enterprise, Busha, and A&D Forensics to introduce a new executive education programme designed to deepen understanding of digital assets, blockchain, and regulation across Africa. The initiative, titled Executive Certificate in Digital Assets Innovation, Industry, Regulation & Compliance (DAIIRC), aims to equip regulators, […]
Nigerian Equities Market Rebounds, Investors Gain N2.59 Trillion
The Nigerian equities market staged a strong recovery on Wednesday, delivering a welcome relief to investors following a steep market downturn. The All-Share Index (ASI) surged by 2.88 per cent to close at 145,403.83 points, while the market capitalisation of the Nigerian Exchange Limited (NGX) rose to N92.48 trillion, resulting in a N2.59 trillion gain […]
Nigerian Stock Market Rebounds with N2.6 Trillion Gain After Record Loss
The Nigerian stock market staged a remarkable recovery on Wednesday, posting a N2.6 trillion gain in market capitalisation just a day after suffering a historic N4.6 trillion loss. The bounce-back underscores the resilience of local investors and highlights the market’s sensitivity to policy developments. Market optimism was sparked by comments from the Minister of Finance […]
European Markets Rise as U.S. Government Shutdown Ends; Burberry Surges 4% on Strong Sales
European stock markets edged higher on Thursday, following positive global sentiment after the U.S. government officially ended its historic shutdown. The pan-European Stoxx 600 index climbed 0.3% by mid-morning in London, with most sectors in the green. Investors welcomed renewed market stability after weeks of uncertainty surrounding U.S. federal funding. Across Europe, performance varied by […]
Nine Nigerian Banks Earn ₦2.81 Trillion from Fees and Commissions in Q3 2025
Nine leading Nigerian banks collectively raked in about ₦2.81 trillion from various fees and commissions in the third quarter of 2025, marking a 24.1 percent increase from the ₦2.27 trillion recorded in the same period last year. The surge in non-interest income came mainly from account maintenance charges, commissions on e-business transactions, and other service-related […]
Power Shortages and Insecurity Threaten Nigerian Businesses’ Growth – CBN Survey
Insecurity and unreliable electricity remain the biggest threats to business stability and profitability in Nigeria, according to the Central Bank of Nigeria’s (CBN) latest Business Expectations Survey for October 2025. The report revealed that insecurity ranked highest among business concerns at 71.8 points, followed closely by erratic power supply at 70.9 points. Other major obstacles […]
The Alternative Bank Wins “Innovative Bank of the Year” Award at African Islamic Finance Conference
The Alternative Bank has clinched the coveted title of Innovative Bank of the Year at the 7th African International Conference on Islamic Finance (AICIF), reinforcing its reputation as a trailblazer in inclusive, technology-driven, and non-interest banking across Africa. The recognition, presented at Eko Hotels in Lagos, celebrates the bank’s dedication to providing transformative financial solutions […]
Seplat Energy vs Oando Plc: Which Nigerian Oil Giant is Performing Better in 2025?
Seplat Energy and Oando Plc, two of Nigeria’s leading oil and gas firms, released their unaudited results for the nine months ending September 30, 2025. While Seplat posted a post-tax profit of N146.6 billion—more than double its N52.8 billion in the same period last year—Oando reported a N210 billion profit largely driven by one-off financial […]
NUPRC to Launch 2025 Oil Licensing Round on December 1, Aims to Boost Nigeria’s Energy Production
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially announced that the 2025 Oil Licensing Round will commence on December 1, 2025, signaling a renewed drive to unlock Nigeria’s untapped oil and gas resources. The announcement was made by the Commission’s Chief Executive, Engr. Gbenga Komolafe, during the Project 1MMBOPD Additional Production Investment Forum in […]
Senate Rebukes NNPCL Over N210 Trillion Discrepancies, House Adjourns Abruptly
The Nigerian Senate has strongly rebuked the Nigerian National Petroleum Company Limited (NNPCL) for failing to appear at a scheduled hearing to explain alleged financial discrepancies totaling N210 trillion in its 2017–2023 statements. Senate Committee on Public Accounts Chairman, Aliyu Ahmed, expressed frustration at the absence of NNPCL officials, noting that the company itself had […]
NDIC Urges Bank Customers to Open Alternative Accounts for Faster Fund Access
The Nigeria Deposit Insurance Corporation (NDIC) has urged bank customers nationwide to open and maintain alternative accounts in other financial institutions with matching personal details. This move is aimed at ensuring depositors can access their funds quickly in the unlikely event of bank distress. NDIC Managing Director and CEO, Mr. Thompson Oludare Sunday, made the […]
CBN, Finance Ministry Launch DGAS to Curb Inflation and Drive 7% GDP Growth
The Central Bank of Nigeria (CBN) and the Federal Ministry of Finance have launched a joint economic framework, the Dis-Inflation and Growth Acceleration Strategy (DGAS), aimed at achieving at least 7% annual GDP growth while reducing inflation to single digits within 24 months. The strategy also seeks to create around five million jobs through targeted […]
Only 44% of Social Benefits Reach Poor Nigerians, Warns World Bank
A new World Bank report has revealed that Nigeria’s social safety-net programs are failing to reach the citizens who need them most. Despite billions of naira spent annually to reduce hardship, only 44 per cent of total government-funded social benefits actually reach poor Nigerians, according to the report titled “The State of Social Safety Nets […]
Edun Reassures Stockbrokers on Balanced Capital Gains Tax Implementation in Nigeria
The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has reassured stockbrokers and investors that the planned Capital Gains Tax (CGT) in Nigeria will be implemented with the country’s best interest in mind. Speaking at the Closing Gong Ceremony for the listing of the Ministry of Finance Incorporated Real Estate Investment […]
UBA GMD Advocates New Financing Model to Boost Africa’s Competitiveness
The Group Managing Director of United Bank for Africa (UBA) Plc, Oliver Alawuba, has urged the adoption of a new financing model to position African financial institutions as central drivers of the continent’s competitiveness and economic transformation. Speaking at the UAE–Chad Trade and Investment Forum, themed “Financing African Competitiveness – Building Bridges, Powering Progress,” Alawuba […]
European Markets Rise on US Government Spending Hope and Strong Corporate Earnings
European markets rose broadly on Wednesday, extending gains seen earlier this week amid optimism that the U.S. government shutdown may soon end. Investors are closely watching developments in Washington, where the Senate passed a spending bill Monday, now awaiting a final vote in the House of Representatives. This news has supported risk appetite across Europe, […]
N4.64tn Wiped Off NGX Market Cap as Stocks Suffer Worst Decline Since 2010
The Nigerian stock market suffered its sharpest single-day fall in over a decade on Tuesday, as bearish sentiment sent the All-Share Index plunging by 5.01 per cent to close at 141,327.30 points. The rout wiped out about N4.64 trillion from the Nigerian Exchange Limited (NGX) market capitalisation, which fell below the N90 trillion mark to […]
Nigeria’s $2.25bn Eurobond Success Reignites Global Investor Confidence
Nigeria has successfully raised $2.25 billion through a dual-tranche Eurobond, marking a significant comeback to the international capital market. The issuance — consisting of 10-year and 20-year bonds — was oversubscribed by more than $13 billion, showing robust investor appetite for Nigerian debt. The bonds were priced at 8.625% and 9.125%, respectively, tighter than expected, […]
Africa’s Green Energy Future Hinges on Skilled Project Managers – PMI Warns
The Project Management Institute (PMI) has cautioned that Africa’s ambition to lead in the global green energy transition may fail unless governments, development agencies, and private businesses commit to reskilling workers and building stronger project management capabilities. According to PMI’s Managing Director for Sub-Saharan Africa, George Asamani, the continent faces a unique challenge: the need […]
ALTON Flags Regulatory Conflicts in Nigeria’s National Digital Economy Bill 2025
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has raised concerns over potential regulatory conflicts in the proposed National Digital Economy and e-Governance Bill 2025. Speaking at a joint public hearing of Senate and House committees on ICT, Cybersecurity, and Digital Economy in Abuja, ALTON Chairman Gbenga Adebayo cautioned that certain sections of the […]
Wikipedia Urges AI Companies to Stop Scraping and Use Paid API to Support Its Mission
Wikipedia is taking a clear stance on how artificial intelligence companies should access its vast repository of knowledge. In a blog post published Monday, the Wikimedia Foundation—the nonprofit that operates the world’s largest online encyclopedia—urged AI developers to use its paid Wikimedia Enterprise platform instead of scraping content from the site. The organization emphasized that […]
Summit Bank Unveils Ethical Banking Vision to Promote Inclusive Financial Growth in Nigeria
Nigeria’s newest non-interest financial institution, Summit Bank Ltd, has reaffirmed its commitment to delivering ethical and inclusive banking services across the country. Just months after beginning operations, the bank says it is strategically positioned to redefine financial transparency and empower customers from all walks of life. Speaking at a press conference at the bank’s headquarters […]
Tinubu to Sign National Digital Economy Bill into Law This Week, Boosting Nigeria’s $1 Trillion Growth Vision
President Bola Ahmed Tinubu is set to sign the National Digital Economy and E-Governance Bill 2025 into law this week, marking a major milestone in Nigeria’s digital transformation agenda. The bill, which aims to strengthen the country’s ICT infrastructure and promote e-governance, has been described as a crucial driver of Nigeria’s journey toward a $1 […]
European Stocks Rise as Swiss Shares Surge on Hopes of U.S. Tariff Reduction
European markets extended their gains on Tuesday as optimism grew over a possible reduction in U.S. tariffs, lifting investor sentiment across the region. The pan-European Stoxx 600 index climbed 0.5% in morning trading, with most major sectors showing positive momentum. The gains came as signs emerged that the prolonged U.S. government shutdown could soon end, […]
ASO Savings Leads Gainers as Nigerian All-Share Index Falls Below 149,000 Points
The Nigerian stock market closed lower on Monday, November 10, as the All-Share Index (ASI) slipped by 742.91 points to close at 148,781.90, marking a 0.5% decline from Friday’s close of 149,519.6. The drop pushed the benchmark index below the 149,000 mark, signaling renewed selling pressure among investors after weeks of mixed performance. Trading activity […]