FGN Bonds Oversubscribed by 307% in October as Investor Confidence Soars
Nigeria’s Federal Government Bonds (FGN Bonds) recorded a massive 307.6% oversubscription at the October 2025 auction, reflecting renewed investor confidence…
Category: Business
CBN Clarifies $1.25bn Q1 Oil Sector FX Transactions, Says No Direct Intervention
The Central Bank of Nigeria (CBN) has clarified that the reported $1.25 billion spent on oil sector imports in the…
NNPCL Launches Strategic Infrastructure Projects to Boost Nigeria’s Oil and Gas Growth
The Nigerian National Petroleum Company Limited (NNPCL) has unveiled a major strategic infrastructure development plan aimed at strengthening Nigeria’s oil…
European Stocks Slip Ahead of Fed Rate Decision as Investors Eye Powell’s Comments and Tech Earnings
European stocks are poised to open lower on Wednesday as investors tread cautiously ahead of the U.S. Federal Reserve’s much-anticipated…
Gas Marketers Set 6 Million-Tonne LPG Supply Target, Forecast Price Drop as Local Production Rises in Nigeria
Nigeria’s Liquefied Petroleum Gas (LPG) marketers have announced plans to boost the nation’s annual gas supply to six million metric…
BREAKING: Banks place Nestoil under receivership over $1bn debt
Police have sealed off the corporate headquarters of Nestoil Limited in Victoria Island, Lagos, after the company was placed under…
High Interest Rates Suppress Corporate Bond Issuance in Nigeria, Pension Fund Investments Dip
Nigeria’s soaring interest rates are taking a toll on corporate bond issuance, with pension fund investments in corporate debt declining…
Nigeria’s GenCos Mark 10 Years of Privatisation Amid N4 Trillion Debt Crisis and Power Sector Challenges
Nigeria’s power generation companies (GenCos) yesterday commemorated a decade since the country’s electricity privatisation, even as the sector grapples with…
Zoom CEO Eric Yuan Predicts AI Will Cut Workweek, Transform Remote Work
Zoom CEO Eric Yuan has shared a bold vision for the future of work, suggesting that artificial intelligence could help…
Dangote Refinery Expansion Gets Full FG Backing to Reach 1.4 Million BPD – Boosting Africa’s Energy Independence
The Federal Government has thrown its full support behind Dangote Refinery’s ambitious plan to expand its production capacity to 1.4…
Dangote Refinery Eyes $55 Billion Annual Revenue as Afreximbank Considers $5 Billion Expansion Credit
Africa’s richest man, Aliko Dangote, has announced plans to expand the capacity of his Lagos-based Dangote Petroleum Refinery from 650,000…
FG Spends ₦12.5bn to Recover Gold from Artisanal Miners, Boost Foreign Reserves and Strengthen Naira
The Federal Government has disbursed about ₦12.5 billion to recover gold from artisanal and small-scale miners across the country as…
FIRS Generates ₦22.59tn in 9 Months Amid Sweeping Tax Reforms
The Federal Inland Revenue Service (FIRS) has achieved a landmark revenue performance, collecting ₦22.59 trillion between January and September 2025,…
FRC Offers Free Business Integrity Certification for Nigerian SMEs Until March 2026
In a bid to promote ethical business practices and strengthen corporate governance, the Financial Reporting Council of Nigeria (FRC) has…
Transcorp Reports ₦413.4bn Revenue in Q3 2025, Driven by Power and Hospitality Growth
Transnational Corporation Plc (Transcorp) has reported a robust financial performance for the third quarter of 2025, recording a revenue of…
Nigeria’s Stock Market Sees 846% Surge in Foreign Inflows, Hits ₦1.03 Trillion as Investor Confidence Rebounds
Nigeria’s stock market has witnessed a dramatic resurgence in foreign investor confidence, with foreign portfolio inflows soaring by 845.9% to…
Weakened U.S. Dollar Helps Stabilize Ghana Cedi Amid Forex Market Pressures — Bank of Ghana
The Bank of Ghana (BoG) has confirmed that the recent weakening of the U.S. dollar played a major role in…
Dangote Refinery Rehires Sacked Engineers, Redeploys Staff to Borno, Zamfara, and Other States Amid PENGASSAN Dispute
The Dangote Refinery has re-employed several engineers previously dismissed amid its dispute with the Petroleum and Natural Gas Senior Staff…
European Stocks Steady as Markets Await Fed Rate Decision and U.S.-China Trade Talks
European markets opened cautiously on Tuesday, with most indexes hovering around the flatline as global investors turned their focus toward…
Nigerians Trade $50 Billion in Crypto as SEC Warns of Declining Capital Market Participation
Nigeria’s Securities and Exchange Commission (SEC) has expressed concern over the country’s growing preference for cryptocurrency trading, warning that the…
FATF Delisting to Boost Foreign Investments in Nigeria, Says SEC DG Emomotimi Agama
Nigeria’s removal from the Financial Action Task Force (FATF) grey list has been hailed as a major milestone for the…
FCMB’s ₦160bn Offer to Bolster Capital Base, Strengthen Resilience – CEO Ladi Balogun
First City Monument Bank (FCMB) Group has reaffirmed its commitment to building a more resilient financial institution through its ongoing…
Nigerian Stocks Fall by ₦94bn as Investors Cash Out on Blue-Chip Gains
The Nigerian equities market opened the week on a bearish note as investors booked profits from earlier gains on blue-chip…
Nigerian Breweries Completes Full Integration of Distell Nigeria to Boost Wine and Spirit Production
Nigerian Breweries Plc has officially completed the full integration of Distell Nigeria Limited into its operations, marking a major milestone…
Lagos Introduces Flexible Payment Plan to Relocate Computer Village Traders to Katangowa ICT Hub
The Lagos State Government has launched a flexible payment scheme to ease the long-awaited relocation of traders from Ikeja’s overcrowded…
Nigerian Stocks Surge: NGX All-Share Index Hits Historic 155,645 as Industrial and Telecom Giants Lead Gains
The Nigerian stock market closed the week ended October 24, 2025, on a historic high, with the All-Share Index (ASI)…
Nigeria Sees $50 Billion in Cryptocurrency Transactions as Traditional Market Struggles – SEC Reports
Nigeria processed over $50 billion in cryptocurrency transactions between July 2023 and June 2024, highlighting the growing sophistication and risk…
NGX Surges 4.48%, Adds N4.32 Trillion in Weekly Gains Amid Renewed Investor Optimism
Investors sent the Nigerian Exchange Limited (NGX) soaring this week, driving a 4.48% rise in the market and adding a…
Abbey Mortgage Bank Reports N1.45bn Profit in Nine Months, Earnings Surge 56% YoY
Abbey Mortgage Bank Plc has announced a robust profit after tax of N1.45 billion for the nine months ending September…
Africa Prudential Reports 53% Profit Surge in Nine Months, Boosted by Core Registrar Growth
Africa Prudential Plc, a leading provider of share registration services and capital market solutions, has recorded a remarkable 53% increase…