Business insurance Local Nigeria Insurance Sector Races to Meet Recapitalisation Rules as NAICOM Deposit Deadline Expires June 3, 2026 Ekemini Uba Nigeria’s insurance industry has entered a critical phase of reform as insurers and reinsurers intensify recapitalisation efforts following the expiration of the National Insurance Commission (NAICOM) statutory deposit deadline on…
Business Economy Local NGX Group Calls for Stronger Capital Market Integration into Monetary Policy Framework June 3, 2026 Ekemini Uba The Nigerian Exchange Group (NGX Group) has called for a stronger integration of the capital market into Nigeria’s monetary policy framework, stressing that the country’s economic stability increasingly depends on…
Business International Market Dulux owner Akzo Nobel plummets 19% after takeover talks fall through June 3, 2026 Ekemini Uba European markets opened the day under pressure as investor sentiment weakened across major indices, with growing uncertainty driven by fresh U.S. tariff proposals and corporate shake-ups. The pan-European Stoxx 600…
Business Energy Local Dangote alleges crude supply sabotage by govt, NNPC objects June 3, 2026 Ekemini Uba The battle between Africa’s richest man’s refinery and Nigeria’s oil authorities has escalated, as the Dangote Petroleum Refinery and Petrochemicals FZE has accused the Federal Government and its agencies of…
Business Technology AI Could Shake Global Jobs: ILO Warns of 52 Million Job Equivalents Lost and $3 Trillion Income Hit by 2027 June 3, 2026 Ekemini Uba The rapid rise of Artificial Intelligence (AI) is reshaping the global workforce, but a new warning from the International Labour Organisation (ILO) suggests the transformation could come with a heavy…
Business Economy Local CBN FX Manual Reform: Cardoso Bets on Rules to Stabilise Nigeria’s Foreign Exchange Market June 3, 2026 Ekemini Uba Nigeria’s foreign exchange market has long struggled with instability, uncertainty, and policy inconsistencies that have affected importers, exporters, and investors alike. From delayed documentation processes to concerns over access to…
Business Economy Local Naira Strengthens to N1,833/£1 as CBN Policies and FX Reserves Support Stability in Nigeria FX Market June 3, 2026 Ekemini Uba The Nigerian naira has continued its steady performance against the British Pound Sterling, trading at around N1,833/£1 in the latest foreign exchange activity recorded by the Central Bank of Nigeria…
Business Economy International Nigeria’s China Zero-Tariff Deal Faces Reality Check as Experts Demand Shift to Value-Added Exports June 3, 2026 Ekemini Uba More than a month after Nigeria was included in China’s zero-tariff arrangement for African exports, expectations are rising—but so are concerns. While the policy is designed to boost trade, many…
Business Economy International Afreximbank deploys new instruments, trading models for AfCFTA June 3, 2026 Ekemini Uba The African Export-Import Bank (Afreximbank) is ramping up efforts to turn the African Continental Free Trade Area (African Continental Free Trade Area) from policy into real commercial action, introducing a…
Business Local Stock Nigerian Stock Market Turns Bearish as NGX Loses N479bn Amid Broad Sell-Off June 3, 2026 Ekemini Uba The Nigerian equities market closed on a negative note as bearish sentiment dominated trading activities, wiping off about N479 billion from investors’ wealth. The downturn was largely driven by sustained…
Finance International Macroeconomic IMF Warns Against Costly Subsidies as Food Inflation Rises Globally June 3, 2026 Ekemini Uba The International Monetary Fund (IMF) has issued a strong warning to governments worldwide, advising them to avoid sweeping subsidies, fuel price controls, and tax cuts as responses to rising food…
Business Economy International Dangote Crowned Africa’s Most Admired Brand for Eighth Consecutive Year June 3, 2026 Ekemini Uba Dangote Industries Limited has once again solidified its reputation as a continental powerhouse after being named Africa’s Most Admired Brand for the eighth consecutive year in the Brand Africa 100…
Business investment Local DMO Opens June 2026 FGN Savings Bond at 14.777% Interest as Nigeria Raises Investor Returns June 3, 2026 Ekemini Uba The Debt Management Office (DMO) has officially opened subscription for the June 2026 FGN Savings Bond, offering Nigerians another chance to earn attractive, low-risk returns backed by the Federal Government.…
Business Economy Local NGX Loses N2.29 Trillion as Market Sell-Off Deepens in Early June Trading June 3, 2026 Ekemini Uba The Nigerian equities market started June 2026 on a bearish note, wiping out a staggering N2.29 trillion in market capitalisation within just two trading sessions. The decline, recorded across Monday…
International Technology Microsoft Unveils Scout AI Assistant to Bring Personalized Automation to Microsoft 365 June 3, 2026 Ekemini Uba Microsoft has introduced Scout, a next-generation AI assistant designed to help users automate tasks, manage workflows, and personalize their digital experience within the Microsoft 365 ecosystem. The launch marks Microsoft’s…
Business Economy Local Tinubu’s Economic Reforms Propel Nigerian Stock Market to Record N160 Trillion June 3, 2026 Ekemini Uba Nigeria’s stock market has witnessed an unprecedented transformation over the last three years, with the Nigerian Exchange (NGX) growing from a market capitalization of N30 trillion in 2023 to an…
Business Economy Energy DisCos Generate N600bn in Q1 Despite Persistent Power Outages Across Nigeria June 3, 2026 Ekemini Uba Nigeria’s Electricity Distribution Companies (DisCos) generated nearly N600 billion in revenue during the first quarter of 2026, despite ongoing power outages that left millions of households and businesses grappling with…
Business Finance Local Nigeria’s capital market becomes first in Africa to adopt one-day trade settlement cycle June 2, 2026 Ekemini Uba Nigeria has achieved a major milestone in its financial sector as the Nigerian Exchange (NGX) officially transitioned to a T+1 settlement cycle, becoming the first capital market in Africa to…
Business Economy Local CSCS Launches T+1 Settlement Cycle in Nigeria: Capital Market Enters Faster Global Trading Era June 2, 2026 Ekemini Uba Nigeria’s capital market has taken a major leap forward as the Central Securities Clearing System (CSCS) Plc officially launched the T+1 settlement cycle, marking a historic shift that places the…
Business Local Stock NGX Opens Week Bearish as Market Capitalisation Drops 1.13% on Heavy Sell Pressure June 2, 2026 Ekemini Uba The Nigerian Exchange Limited (NGX) began the new trading week on a negative note as investors recorded widespread losses across key equities. The bearish start reflected renewed profit-taking and cautious…
Business International Market European stocks rebound as oil prices slip; Abivax shares tumble June 2, 2026 Ekemini Uba European markets staged a recovery on Tuesday as investor sentiment improved, with the Stoxx 600 climbing around 0.7% after recent losses. The rebound came as oil prices eased, driven by…
Business Economy Local CBN Faces N10.90 Trillion Liquidity Surge in June as OMO Maturities Hit N7.77 Trillion Pressure Point June 2, 2026 Ekemini Uba Nigeria’s financial system is heading into another wave of liquidity pressure as the Central Bank of Nigeria (CBN) prepares to manage an estimated N10.90 trillion inflow in June 2026, driven…
Business Economy Local CBN Targets N2.83tn Cash in Circulation as Nigeria Pushes Cashless Economy Ahead of 2027 Elections June 2, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has announced a bold plan to pull about N2.83 trillion in cash currently outside the banking system back into formal financial channels, as part…
Business Economy International Nigeria Courts Turkish Investors in Bold Push to Tap $750bn Mineral Wealth June 2, 2026 Ekemini Uba Nigeria has taken a major step to unlock its vast mineral wealth as it signs a new partnership with Türkiye aimed at attracting foreign investment into its solid minerals sector,…
Local Macroeconomic Nigeria’s 3.89% GDP Growth Fails to Lift Living Standards Despite Economic Gains – MoneyAfrica June 2, 2026 Ekemini Uba Nigeria’s economy recorded a 3.89% year-on-year growth in the first quarter of 2026, but fresh analysis from investment research firm MoneyAfrica suggests the improvement is still not strong enough to…
Business Energy Local Petrol Price Surges 643% in Nigeria as Fuel Crisis Deepens Amid Global Oil Shocks June 2, 2026 Ekemini Uba Nigeria’s fuel market has witnessed a dramatic and painful transformation as the price of Premium Motor Spirit (petrol) skyrocketed by about 643% within three years, climbing from N175 in 2023…
Business Energy Local Oil Workers Shut Down NUPRC Nationwide Over Foreign Training Dispute June 2, 2026 Ekemini Uba Operations at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) were brought to a standstill on Monday after oil-sector workers under the Petroleum and Natural Gas Senior Staff Association of Nigeria…
International Stock Technology Alphabet to Raise $80 Billion for Massive AI Expansion as Berkshire Hathaway Joins Investment Push June 2, 2026 Ekemini Uba Alphabet, the parent company of Google, has announced a massive plan to raise $80 billion through stock sales as it accelerates its investment in artificial intelligence infrastructure. The move underscores…
Business International Technology Flutterwave Hits 1 Billion Transactions and $40 Billion Payment Volume as African Fintech Growth Accelerates June 2, 2026 Ekemini Uba African fintech powerhouse Flutterwave has reached a major milestone, announcing that it has now processed over 1 billion transactions and facilitated more than $40 billion in total payment value since…
Business Economy Local Naira Misses Africa’s Top 10 Currencies in May Despite FX Stability and Rising Reserves June 2, 2026 Ekemini Uba Despite signs of improved stability in Nigeria’s foreign exchange market, the naira failed to break into Africa’s top 10 best-performing currencies in May, ranking 12th across the continent. The local…
