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Nigeria secures $155m clean energy investments

  • 26th July 2026

NGX sheds 0.19% as Presco, banks drag index

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NPF Microfinance Bank grows profit before tax by

  • 25th July 2026

US imposes new tariffs on UK, Canada, others

  • 24th July 2026

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Global FDI hits $1.6trn in 2025 as Nigeria’s inflow

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Mobile phones

Nigerians who buy second-hand iPhones, Samsung rise by 10% – Report

The number of Nigerians that bought secondhand iPhones and Samsung rose by 10 per cent in 2021 according to a report by Counterpoint Technology Market Research. According to Counterpoint Research’s Global Refurbished Smartphone Tracker, the global secondary smartphone saw a surge in demand and supply in 2021, growing by 15 per cent in terms of […]

X to offer paid users xAI chatbot - Musk
Investment News

Elon Musk loses $11bn in one day

The wealth of the Chief Executive Officer of Telsa, Elon Musk, has plunged by 7% – a total of $11 billion in one day following bad stock sales pressures of his electric car company. According to Bloomberg Billionaires Index, the electric car company boss was worth about $193 billion after the Tuesday trading session. A […]

Africa's GDP grew  6.9% in 2021
Economy

Nigeria’s GDP rose by 3.11% in Q1 2022 – NBS

The National Bureau of Statistics on Monday revealed that Nigeria’s Gross Domestic Product rose by 3.11 per cent in the first quarter of 2022. In a tweet posted to its official Twitter page, @NBS_Nigeria, on Monday, the NBS wrote, “Gross Domestic Product (GDP) grew by 3.11% (year-on-year) in real terms in the first quarter of […]

Trapped funds: CBN to give foreign airlines $150m
News

Nigerians spend $221m on overseas education in three months –CBN report

An analysis of data obtained from the Central Bank of Nigeria showed that Nigerians spent at least $220.86 million on foreign education between December 2021 and February 2022. This is according to the CBN data on the amount spent on educational service under the sectoral utilisation for transactions valid for foreign exchange for December 2021 […]

News

Lagos vows to prosecute developer of collapsed building

The Lagos State Government has vowed to prosecute the missing developer, identified as Fumble, who was said to be in charge of the three-storey building that collapsed and killed four labourers on Alayaki Lane, Freeman Street, Lagos Island, Lagos State. It was gathered that the developer went into hiding after the building caved in and […]

Banking

Why accounts of 50 firms operating loan apps are frozen –FCCPC

Babatunde Irukera is the Executive Vice-Chairman/Chief Executive Officer of the Federal Competition and Consumer Protection Commission, formerly known as the Consumer Protection Council. A lawyer by training, Irukera became the FCCPC helmsman in 2019 when the Federal Competition and Consumer Protection Act was enacted. In this interview, he disclosed that the agency had taken strong […]

US deficits projected $1trn higher over next decade
News

Manufacturers suffer scarcity as politicians buy dollars for primaries

As the naira continues its free fall against the dollar, manufacturers in the country have lamented the worsening scarcity of the United States currency, saying their inability to get the forex they need and the excessive delay in getting the little available are killing their businesses. However, findings revealed that the scarcity, which has driven […]

Why Nigeria must save oil revenues - IMF
Economy

IMF warns Nigeria to fix weak labour market

The International Monetary Fund has warned Nigeria and other emerging economies to promptly repair their weak labour markets and severe schooling disruptions to prevent plunging their economies into further damage. In a new report titled, ‘Healing the pandemic’s economic scars demands prompt action,’ the Washington-based lender said pandemic-induced losses for both economic output and employment […]

Ports and Airports

NPA plans crackdown, to levy barge operators

The Nigerian Port Authority has disclosed that barge operators have operated on free tickets for so long and need to start paying tariffs. Speaking in Lagos, the Managing Director, NPA, Mohammed Bello Koko, said that barge operations in the country would soon be concessioned, threatening to crack down on illegal operators. Explaining further, he said […]

eNaira hits 905k downloads
Policy and Regulations

Digital currency won’t eliminate naira notes – CBN

The Central Bank of Nigeria on Saturday disowned the statement credited to one of its staff that it would withdraw naira notes from circulation and replace it with the digital currency, known as eNaira. The Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi, however, said the digital currency would complement the naira notes. In the […]

Trapped funds: CBN to give foreign airlines $150m
Economy

Forex inflow falls by 37% in one month -CBN

The foreign exchange inflows into the country fell by 36.7 per cent in one month to $4.36bn in January, figures obtained from the Central Bank of Nigeria have shown. The CBN  revealed in its report on ‘Foreign exchange flows through the economy’ that the economy recorded lower net foreign exchange inflow in January, driven, mainly, […]

Naira redesign: CBN has my approval, Buhari clarifies
Policy and Regulations

Money Laundering Act: Banks, firms to pay N1m daily for suspicious transactions

As part of its fresh move against money laundering, the Federal Government has enforced a fine of N1m per day for any financial institution or non-financial business and profession that fails to report any suspicious transaction. This is according to the Money Laundering (Prevention and Prohibition) Bill, 2022, which the President, Major General Muhammadu Buhari […]

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