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Finance

Nigerian stock market ends seven-week winning streak

The Nigerian equities market closed the trading week ended May 22, 2026, on a weaker note, shedding 618.55 points to settle at 249,712.37 amid renewed profit-taking pressure. This marks a 0.25 per cent weekly decline from 250,330.92, ending the market’s seven-week winning streak as the benchmark index slipped below the key 250,000-point level. Trading activity […]

Nigerian retailers, wholesalers may not escape poverty – World Bank economists
Finance

Nigeria remains top IDA borrower despite W’Bank loan exposure decline

Nigeria retained its position as the International Development Association’s third-largest borrower in the first quarter of 2026 despite recording a slight decline in its exposure to the World Bank’s concessional lending arm. Data from the IDA’s latest March 2026 financial statements showed that Nigeria’s exposure fell to $18.5 billion as of March 31, 2026, from […]

Sport

David Beckham joins billionaires club years after retirement

Former England football captain David Beckham has officially joined the billionaire club. According to Forbes, Beckham’s growing business empire, endorsement deals and investments helped push his net worth past the billion dollar mark years after retiring from professional football. The magazine reported that Beckham earned around $100 million last year alone through partnerships, fashion campaigns, […]

US court jails Nigerian hacker for $2.5m identity theft
featured Scams

US court jails Nigerian for seven counts of wire fraud

A Nigerian man, Adepoju Salako, has been sentenced to 18 months imprisonment in the United States for his involvement in a wire fraud scheme linked to the 2022 Permanent Fund Dividend programme. According to the report on the official US website, Salako, a resident of Philadelphia, Pennsylvania, was convicted for orchestrating a scheme to defraud […]

IGR
featured Finance

Lagos revenue hit ₦2.6trn in 2025 — Commissioner

Lagos State recorded a total revenue of N2.6 trillion in 2025, marking a 16 per cent increase from the N2.3 trillion generated in 2024. The Commissioner for Finance, Abayomi Oluyomi, disclosed this figure on Friday during a press briefing held in Alausa, Ikeja, according to The PUNCH. The briefing formed part of activities commemorating the […]

Meta plans fourth AI overhaul in six months
Business

Meta blocks Facebook, Instagram access to Saudi dissidents

Major US social media companies, including Meta’s Facebook and Instagram, have restricted access to the accounts of Saudi dissidents inside the kingdom, reportedly in response to directives from Saudi authorities. Among those affected are Abdullah Alaoudh, a US-based activist and outspoken critic of Saudi human rights practices, and Omar Abdulaziz, an activist based in Canada […]

Business

Eterna appoints Jude Nwaulune as new MD/ CEO

Eterna Plc has announced the appointment of Dr. Jude Nwaulune as its new Managing Director and Chief Executive Officer, effective 14 May 2026. His appointment follows the resignation of Mr. Olumide Adeosun, who stepped down from the position on 13 May 2026. In its statement, the board commended Adeosun for his leadership and contributions during […]

Business

Trump Mobile confirms customer data leak on open internet

Trump Mobile has confirmed that customer information, including names, email addresses, mailing addresses, phone numbers, and order identification numbers, was inadvertently exposed on the open internet. Trump Mobile spokesperson Chris Walker said the company is investigating the incident and has found no evidence that customer content or financial data was exposed, according to TechCrush. He […]

US senators demand Meta probe over chatbot child safety concerns
Tech

Meta launches Forum, new Reddit-style app for Facebook groups

Meta has quietly launched a new standalone app for Facebook Groups called Forum, positioning it as a Reddit-style platform focused on community-driven conversations. The company describes Forum as a “dedicated space built for deeper discussions, real answers, and communities you care about.” The new app was first spotted by social media consultant Matt Navarra, drawing […]