Cash Outside Banks Climbs to N5.19 Trillion Despite CBN’s Aggressive Digital Payment Drive
Nigeria’s transition to a cashless economy continues to face significant hurdles as cash held outside the banking system climbed to…
Category: Business
Airlines Seek Direct Meeting with Tinubu Over Rising Taxes and Charges Threatening Industry Survival
Domestic airline operators in Nigeria are pushing for a direct audience with President Bola Tinubu as concerns grow over taxes…
Naira Falls to Four-Week Low as Stronger U.S. Dollar Puts Pressure on Nigeria’s Currency
The Nigerian naira slipped to N1,373 against the U.S. dollar at the official foreign exchange market on June 23, 2026,…
Dangote Refinery Denies Fuel Re-Import Claims Through Lomé Hub
Dangote Petroleum Refinery has strongly denied reports suggesting that petroleum products exported from its facility are finding their way back…
Airtel Africa, Banking Giants Power NGX Rally as Investors Gain N1.64 Trillion in Two-Day Rebound
The Nigerian stock market continued its impressive rebound on Tuesday as investors gained N1.64 trillion in market value, extending the…
SEC Warns Investors as Fake Dangote Refinery IPO Promotions Spread Online
The Securities and Exchange Commission (SEC) has issued a strong warning against the growing wave of advertisements promoting a supposed…
Fitch warns Nigeria against $5bn Abu Dhabi loan, says financing method poses risks
Nigeria’s proposed $5 billion financing arrangement with First Abu Dhabi Bank has come under fresh scrutiny after global rating agency…
Elon Musk Loses $350 Billion in Historic Wealth Drop as SpaceX Shares Tumble
Elon Musk has recorded the largest personal wealth loss in history after a sharp decline in SpaceX’s stock price wiped…
Lithium Demand Set to Surge 353% by 2040 as Nigeria Attracts Global Scramble for Critical Minerals
Global demand for lithium is expected to skyrocket by 353 per cent by 2040, according to projections from the United…
Nigeria Capital Inflows Hit $21bn as FG Targets Bigger Trade and Investment Gains in 2026
The Federal Government, through the Federal Ministry of Industry, Trade and Investment, has unveiled an ambitious plan to boost trade…
Petrol Prices Stay High in Nigeria Despite Falling Crude Oil Prices Amid Global Supply Shift
Petrol prices have remained stubbornly high across Nigeria, even as global crude oil prices decline toward levels last seen before…
Oil Production Recovery in Nigeria Linked to Improved Oil Asset Protection in Niger Delta
Nigeria’s oil industry is showing signs of recovery, with growing evidence that improved protection of oil infrastructure in the Niger…
SpaceX Shares Drop Over 4% as Post-IPO Rally Fades After Record-Breaking Debut
SpaceX shares slipped more than 4% in premarket trading on Monday, extending a recent decline that has quickly cooled enthusiasm…
Major Tech Layoffs in 2026: How AI Is Reshaping Jobs Across Global Tech Companies
The tech industry in 2026 is experiencing one of its most dramatic workforce shake-ups in recent history, with companies across…
Nigerians Hold N5.19 Trillion Cash Outside Banks as Cash Usage Defies Digital Payment Growth
Nigeria’s push toward a cashless economy continues to face strong resistance, as new data shows that Nigerians are still holding…
Nigeria Among Nine Countries Responsible for 83% of Global Gas Flaring, World Bank Reveals
Nigeria has once again been identified as one of the world’s top contributors to gas flaring, as a new World…
NGX Banking Stocks Underperform in 2026 Market Rally as Oil and Industrial Sectors Lead Gains
Nigeria’s banking sector is struggling to keep pace in the ongoing 2026 equities boom, as banking stocks on the Nigerian…
NGX Market Value Drops to N151.3tn as Profit-Taking Triggers Liquidity Tightening
The Nigerian Exchange Limited (NGX) ended the trading week on 19 June 2026 in the red, as widespread profit-taking and…
Domestic Crude Supply Drops in Nigeria Amid Sabotage Allegations and Refinery Disputes
Nigeria’s domestic crude supply to local refineries recorded a noticeable decline in May 2026, dropping to 15.84 million barrels, according…
SEC Nigeria Pushes for Stronger African Capital Market Collaboration as Nigeria and Rwanda Sign New MoU
The Securities and Exchange Commission (SEC) Nigeria has renewed its push for deeper integration among African financial markets, calling for…
Firm to unlock Kenyan market for Nigerian investors
Dewale Consulting Ltd (DCL) has announced a new initiative designed to open up Kenya’s booming property sector to Nigerian investors,…
Nigeria, Rwanda Strengthen Capital Markets Ties with New Regulatory Partnership
Nigeria and Rwanda have taken a significant step toward deeper financial integration in Africa following the signing of a Memorandum…
Domestic Investors Drive NGX Transactions to N1.94 Trillion as Market Activity Surges 177%
Trading activities on the Nigerian Exchange Limited (NGX) maintained strong momentum in May 2026, with total market transactions climbing to…
Nigeria’s Money Supply Climbs to N129.21 Trillion as Liquidity Expands Despite Tight Monetary Policy
Nigeria’s broad money supply (M3) rose to N129.21 trillion in May 2026, highlighting continued liquidity growth in the economy despite…
Nigerian Stocks to Watch This Week: Fidson, Africa Prudential, Access Holdings Lead Analyst Picks After Market Slump
The Nigerian stock market started the week on a cautious note as investors continued to digest last week’s sharp 3.6…
Nigeria Businesses Face Tax Deadline Pressure as CIT Filing and E-Invoicing Rules Converge
Nigerian businesses are entering a high-pressure compliance season as two major tax obligations converge at the end of June: Company…
Nigeria Inflation Rate May Ease to 15.8% in June 2026 Despite Cost Pressures – Analysts Forecast
Nigeria’s inflation outlook may be heading for slight relief as analysts project that the Nigeria inflation rate June 2026 could…
NGX Loses N5.64 Trillion in One Week as Massive Sell-Off Hits Nigerian Equities Market
The Nigerian equities market came under intense pressure last week as investors collectively lost about N5.64 trillion on the Nigerian…
Aradel assets hit N10 trillion after Renaissance acquisition drives 466% surge in balance sheet
Aradel Holdings Plc has recorded a dramatic leap in its financial position, with total assets surging by 466 per cent…
Stock Futures Fall as Iran Peace Talks and Inflation Data Keep Investors on Edge
U.S. stock futures slipped early Monday as investors reacted cautiously to fresh progress in Iran peace negotiations while bracing for…