Business Economy Finance Local FG Unveils Guidelines for Tax Acts 2025 Implementation, Clarifies Transition to New Tax Regime June 19, 2026 Ekemini Uba The Federal Government has released comprehensive guidelines to facilitate the implementation of the Tax Acts 2025, providing much-needed clarity for taxpayers, tax authorities, and other stakeholders navigating the transition from…
Business Local Tinubu Appoints Ex-KPMG Africa Chairman Kunle Elebute as FRCN Board Chairman June 19, 2026 Ekemini Uba President Bola Ahmed Tinubu has appointed renowned financial expert and former KPMG Africa Chairman, Kunle Elebute, as the new Chairman of the Governing Board of the Financial Reporting Council of…
Business Energy Local Petrol Imports Surge 59.5% in May as Nigeria Balances Local Refining Growth and Fuel Demand June 18, 2026 Ekemini Uba Nigeria’s petrol imports recorded a surprising rebound in May 2026, climbing by 59.5% compared to April despite continued growth in domestic refining capacity. Fresh data released by the Nigerian Midstream…
Business International Market Stock Futures Rebound After Fed Shock Sell-Off as Intel Surges on Apple Chip Deal Talk June 18, 2026 Ekemini Uba U.S. stock futures moved higher on Thursday as Wall Street attempted to recover from a sharp sell-off triggered by renewed concerns over Federal Reserve policy. The previous session’s downturn followed…
Economy investment Local Nigeria Secures $3bn Solid Minerals Investment Inflow as Mining Reforms Boost Investor Confidence June 18, 2026 Ekemini Uba Nigeria’s solid minerals sector has recorded a major boost, attracting about $3bn in investment inflows within the last three years, according to the Federal Government. Officials described the development as…
Finance Local Macroeconomic Nigeria’s Foreign Reserves Surge Past $50bn, Add $1.01bn in Two Weeks Amid FX Reforms June 18, 2026 Ekemini Uba Nigeria’s foreign exchange reserves have crossed a major psychological milestone, rising above $50 billion after gaining more than $1.01 billion in just two weeks. The latest figures from the Central…
International Technology Anthropic Joins Frontier Carbon Removal Coalition in Landmark $915M Climate Funding Push June 18, 2026 Ekemini Uba Anthropic has officially become the first artificial intelligence startup to join Frontier, a leading carbon removal coalition backed by major tech firms. The move comes with a fresh $915 million…
International Technology AI Will Cause Labour Shortage, Not Job Losses – Jeff Bezos Says Amid Growing AI Fears June 18, 2026 Ekemini Uba Amazon founder Jeff Bezos has pushed back against rising global fears that artificial intelligence will wipe out millions of jobs, instead predicting that AI will actually lead to a labour…
Business Economy International Afreximbank Urges Nigeria, Others to Boost Intra-African Trade to Shield Economy from Global Shocks June 18, 2026 Ekemini Uba The African Export-Import Bank (Afreximbank) has called on Nigeria and other African countries to urgently deepen intra-African trade as a strategy to strengthen economic resilience amid rising global uncertainties. The…
Business Economy Local Nigeria’s Oil Boom Pushes Current Account Surplus to $4.98bn in Q1 2026 June 18, 2026 Ekemini Uba In a major boost to Nigeria’s external position, the country recorded a current account surplus of $4.98bn in the first quarter of 2026, marking a sharp 255.7% increase compared to…
International Technology Starlink Dominates African Internet Speeds in 22 Markets, Redefining Connectivity Across the Continent June 18, 2026 Ekemini Uba Starlink, the satellite internet service operated by SpaceX founded by Elon Musk, has emerged as the fastest internet provider across Africa, outperforming traditional internet service providers in 22 out of…
Business Economy Energy Local Oil Prices Crash by Over $7 Per Barrel as Brent Drops Below $80 Amid Global Easing Tensions June 18, 2026 Ekemini Uba Global oil markets experienced a sharp downturn this week as crude prices fell by more than $7 per barrel, marking one of the steepest short-term declines in recent months. The…
Business Finance Local Stock Nigerian Stocks Pull Back After 55% Rally as NGX Enters Healthy Consolidation Phase June 18, 2026 Ekemini Uba After a powerful run that saw Nigerian equities surge more than 55% in just six months, the market has finally taken a breather. The Nigerian Exchange (NGX) is currently experiencing…
Business Economy Local DMO Raises N1.49 Trillion in Treasury Bills Auction as Investors Flood Market Amid Rising Yields June 18, 2026 Ekemini Uba Nigeria’s financial market recorded a major boost as the Debt Management Office (DMO) successfully raised N1.49 trillion at its Nigerian Treasury Bills (NTB) auction held on Wednesday, June 17, 2026.…
Business Economy Local 33% Interest Rate Crisis Threatens Nigeria’s $1tr Economy Ambition, Telcos Warn June 18, 2026 Ekemini Uba Nigeria’s telecommunications industry is under severe financial pressure as operators warn that Nigeria’s 33 per cent interest rate environment is threatening the sustainability of the sector and the country’s ambitious…
Business Local Market Agro-Allied Stocks Deliver 1,656% Rally as Presco, Okomu, FTN Cocoa Drive NGX Wealth Surge June 18, 2026 Ekemini Uba Three agro-processing stocks listed on the Nigerian Exchange (NGX) have turned into some of the market’s biggest wealth creators, delivering a staggering 1,656 per cent capital gain to investors over…
Business Economy International Foreign Investors Pour $3.3bn into Nigerian Bonds Amid Rising Yields and Strong Capital Inflows June 18, 2026 Ekemini Uba Foreign investors injected $3.23bn into Nigerian bonds in the first quarter of 2026, underscoring growing confidence in the country’s fixed-income market amid high interest rates and improving foreign exchange stability.…
Business Economy Energy Local Nigeria Rules Out New Taxes on Fuel and Telecom Services Amid IMF Report Backlash June 18, 2026 Ekemini Uba The Federal Government has firmly dismissed reports suggesting that new taxes could soon be introduced on fuel and telecommunications services in Nigeria, following reactions to the latest International Monetary Fund…
International Technology Google Gemini Co-Lead Noam Shazeer Joins OpenAI in Major AI Talent Shake-Up June 18, 2026 Ekemini Uba Google’s artificial intelligence ambitions have suffered a notable setback after Noam Shazeer, one of the key leaders behind the Gemini AI models, announced his departure from the company to join…
Business Energy Local Dangote Refinery Slashes Diesel and Jet Fuel Prices as Falling Crude Oil Costs Ease Market Pressure June 18, 2026 Ekemini Uba The Dangote Petroleum Refinery has announced another round of fuel price reductions, cutting the gantry prices of diesel and aviation fuel by N100 per litre. The latest adjustment sees diesel…
Business Economy Local Naira Falls to N1,361.5/$ as FX Market Turnover Plunges 57% Despite Rising External Reserves June 18, 2026 Ekemini Uba The Nigerian naira weakened slightly against the US dollar on Wednesday, closing at N1,361.5/$ in the Nigerian Foreign Exchange Market (NFEM), compared to N1,356.5/$ recorded in the previous trading session.…
Banking Business Finance Local CBN HoldCo Rules: How a Chapel Hill White Paper May Have Inspired Nigeria’s Banking Shake-Up June 18, 2026 Ekemini Uba The Central Bank of Nigeria’s proposed Financial Holding Company (HoldCo) regulations have triggered intense debate across the banking industry, but a recent white paper by Chapel Hill Denham suggests the…
Business International investment Dangote’s $7bn Fertiliser Expansion Gets AFC Backing to Build Global Production Giant June 17, 2026 Ekemini Uba Africa’s richest man, Aliko Dangote, has secured strong financial backing from the Africa Finance Corporation (AFC) for a bold $7bn fertiliser expansion project aimed at positioning his conglomerate as the…
Business Economy Local FG Rules Out New Fuel and Telecom Taxes Amid IMF Recommendations Debate June 17, 2026 Ekemini Uba The Federal Government has moved to calm public concerns by ruling out any immediate plans to introduce new taxes on telecommunications services and petroleum products, following reactions to the International…
Business International investment NGX Chairman Courts Middle East Investors Ahead of Dangote Refinery IPO in Nigeria’s Capital Market Push June 17, 2026 Ekemini Uba The Group Chairman of the Nigerian Exchange Group (NGX Group), Umaru Kwairanga, is intensifying efforts to attract Middle East investors into Nigeria’s capital market, positioning the country as a growing…
Business Economy Local FG Unveils Ward-Based Growth Strategy to Strengthen Economy Under Renewed Hope Plan June 17, 2026 Ekemini Uba The Federal Government has unveiled a fresh development blueprint aimed at strengthening Nigeria’s economy through a grassroots-driven model under President Bola Ahmed Tinubu’s Renewed Hope Development Plan. The initiative is…
Business Local Stock Banking Stocks Drag NGX Lower as GTCO, Zenith, UBA Trigger ₦782bn Market Loss June 17, 2026 Ekemini Uba The Nigerian equities market closed in the red on Tuesday, June 16, 2026, as heavy selloffs in major banking stocks wiped out ₦782.44 billion in investor wealth. The downturn was…
Business International investment NGX Eyes Mega Dangote Refinery IPO as Investor Demand Tops $2 Billion June 17, 2026 Ekemini Uba The Nigerian Exchange Group (NGX Group) has announced it is actively preparing for the highly anticipated initial public offering of the Dangote Refinery, a move expected to attract strong global…
Business International Stock S&P 500 Futures Edge Higher as Investors Await Fed Decision, SpaceX Extends Rally June 17, 2026 Ekemini Uba U.S. stock futures traded cautiously higher on Wednesday as investors turned their attention to the Federal Reserve’s latest interest rate decision, a key event expected to shape market sentiment in…
Business Economy International UAE Reaffirms Long-Term Investment Commitment to Nigeria as Trade Ties Deepen June 17, 2026 Ekemini Uba The United Arab Emirates has reaffirmed its commitment to long-term investments in Nigeria, underscoring the growing economic partnership between both nations despite shifting global economic conditions. The UAE said Nigeria…
