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Nigeria’s IMTO inflows surge 45% to record $1.29bn

  • 19th August 2026

NSDC mobilises $1bn for sugar self-sufficiency

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NAFEM turnover hits $1.41bn, highest in weeks

  • 18th August 2026

US states seek major changes as Meta child

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BudgIT urges FG not to dismiss US transparency report

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Naira holds steady at ₦1,350/$ in official FX market

Finance

Federal, states, LGs share ₦3.007trn July FAAC

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NAICOM revokes universal insurance licence over capital shortfall

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SERAP threatens to sue FG over Lagos-Calabar Coastal Highway project

The Socio-Economic Rights and Accountability Project has said it will sue the minister for works, David Umahi over the environmental and social impact assessment of the ongoing Lagos-Calabar coastal highway project. This was disclosed by SERAP via its official X handle on Thursday, issuing a freedom of information request against the minister. SERAP requested Umahi […]

10 facts about CBN governor-nominee Cardoso The President, Bola Tinubu, on Friday named Olayemi Michael Cardoso as the substantive Governor of the Central Bank of Nigeria. He is expected to replace the Acting Governor of the CBN Folashodun Shonubu if confirmed by the Senate. Below are 10 facts about him. i. Dr. Olayemi Cardoso hails from Lagos State, a city renowned for its vibrant economic and cultural diversity. ii.His parents were descendants of Brazilian returnees who belonged to prominent families in Popo Aguda, adding a rich cultural heritage to his background. iii. Dr. Cardoso's father, Felix Bankole Cardoso, made history as Nigeria's first indigenous Accountant-General of the Federation in 1963, setting a high bar for public service. iv. His academic journey began at Corona School Ikoyi, where he received his primary education, followed by St. Gregory's College in Lagos for his secondary education. v. Dr. Cardoso's pursuit of knowledge took him to Aston University, where he earned a Bachelor's degree (B.Sc.) in Managerial and Administrative Studies in 1980. vi. He continued his academic journey, earning a Master's degree in Public Administration in 2005 as a Mason Fellow, showcasing his commitment to continuous learning and growth. vii. Dr. Cardoso's career in finance included serving as the former chairman of Citibank Nigeria, where he undoubtedly honed his financial acumen. viii. His commitment to public service led him to serve as the Commissioner for Economic Planning and Budget in Lagos State during President Tinubu's tenure as the governor. ix. Dr. Cardoso is not just a participant in Lagos's economic development but also an architect. He is the founding chairman and co-chair of the Ehingbeti Summit, the Lagos State economic summit. x. Behind the impressive resume, Dr. Cardoso is a family man. He is married with five children and three grandchildren, embodying the values of responsibility and dedication.
Economy

CBN gov blames huge palliatives purchase for food price hike

The Governor of Central Bank of Nigeria, Olayemi Cardoso has said that government purchases of palliatives are a contributing factor to rising food prices in Nigeria. This was disclosed in a statement by the Cardoso at the recent monetary policy committee meeting held between march 25 and 26, 2024, according to nairametrics. According to the […]

150,000 Nigerians got FG's N50k grant - Minister
News

FG extends deadline for $10b diaspora fund application

The Federal Ministry of Industry, Trade and Investment has extended the deadline for companies interested in managing the $10 billion Diaspora Fund to apply. This was disclosed by the Minister, Dr. Doris Uzoka-Anite in a circular on Thursday in Abuja and obtained by AMBusiness. Uzoka-Anite stated that the extension is designed to allow stakeholders additional […]

News

NDIC raises banks’ deposit insurance coverage to N5m

The Nigeria Deposit Insurance Corporation has announced the rise in the maximum deposit Insurance coverage for depositors of banks by 900 per cent to N5 million. This was disclosed in a Press release by the Managing Director/Chief Executive of NDIC, Bello Hassan via its official X handle on Thursday. He said the increase of the […]

Telecommunications

MTN blocks 8.6m lines amid NCC deadline extension

Telecommunication giant, MTN Nigeria have said that 8.6 million lines were completely blocked from the network by the directory of the Nigerian Communications Commission on Sims not linked to the National Identification Number of the users This was disclosed by MTN Nigeria in its 1st quarter of 2024 Financial Report, stating that it affected its […]

Binance opens crypto trading to Syrians after US lifts sanctions
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Abuja court adjourns Binance exec Gambaryan’s trial till May 17

A Federal High Court sitting in Nigeria’s capital, Abuja, on Thursday adjourned the trial of detained Binance Holdings Limited executive, Tigran Gambaryan, till May 17 2024 for the continuation of his trial. AMBusiness reported that Gambaryan and his fleeing colleague, Nadeem Anjarwalla, and Binance Holdings Limited are being prosecuted by the Economic and Financial Crimes […]

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Nigeria Exchange in decline two weeks in a row
Business

NGX Group introduce digital platform for public offers

The Nigerian Exchange Group has announced that it is perfecting plans to introduce a website for public offers across the African continent, and expanding its presence across Africa. This disclosure was made during the 63rd Annual General Meeting of the group, which was held recently in Lagos, according to The Punch. This follows the recent […]

Maritime

Nigeria, others sum up 7.8% of global seafarers – ITF

Nigeria and other African countries account for only 78,000, or 7.8 percent, of the more than 1 million certified seafarers working on international merchant ships worldwide, according to the International Transport Workers Federation. This was disclosed recently by the ITF Africa Regional Secretary Safiyanu Muhammed, in Lagos during a working visit to the National Secretariat […]

News

Nigerian pension funds set record, invest N550bn in stocks

Pension fund managers in the first three months of 2024, purchased Nigerian stocks worth N550 billion, taking it to a record N2.32 trillion as of the end of March. These figures show a significant 31 per cent increase in equity investments to N2.32 trillion as of March 2024 compared to N1.77 trillion in December 2023, […]

Anthropic adds web search to Claude AI chatbot
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Anthropic launches Claude chatbot in iOS

Anthropic has enhanced accessibility to its Claude AI by launching a mobile app, making it easier for users to engage with Claude on the go. The newly released Claude mobile app for iOS is available for free download, providing seamless synchronization of conversations across devices, ensuring users can seamlessly transition between their computer and the […]

Snap unveils new lens studio tools for AR creators
News

Snapchat launches feature to allow chat edits

Snapchat is catching up with its messaging app counterparts by introducing the ability for users to edit their chats. This feature, set to roll out “soon,” will initially be exclusive to Snapchat+ subscribers, the company announced. With this update, Snapchat users will have a five-minute window to refine their messages, correct typos, or make other […]

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Nigerian banks close two million accounts over inactive BVN, NIN

Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of suspicious accounts, following the regulatory orders on the linkage of bank accounts to the National Identity Number, NIN. This is revealed in a report by the Nigerian Interbank Settlement System, according vanguard. According to […]

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