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Defunct Heritage Bank depositors beg Tinubu, Cardoso for full refund

Depositors of the defunct Heritage Bank, whose funds remain trapped following the institution’s liquidation, have appealed to President Bola Tinubu and Central Bank of Nigeria Governor Olayemi Cardoso for urgent intervention. They demanded a swift and full reimbursement of all affected depositors’ funds. They also called for immediate bailout funds to be provided to the […]

Business

Manufacturing capital inflows plunge 54% amid surge in total imports

Capital inflows into Nigeria’s manufacturing sector experienced a sharp decline in the first nine months of 2025, even as overall capital importation into the country recorded a huge surge, figures from the National Bureau of Statistics have shown. According to the data, capital importation into the production and manufacturing sector fell to $463.52 million between […]

NAICOM warns insurers over 2026 recapitalisation deadline
Business

NAICOM, NCGC partner to expand finance access for MSMEs, manufacturers

The National Insurance Commission has teamed up with the National Credit Guarantee Company to explore ways of increasing access to finance for micro, small, and medium enterprises, local manufacturers, and consumer credit clients. The partnership was agreed upon during a courtesy visit by NCGC’s management to NAICOM on Friday, According to The PUNCH. During the […]

NGX Group reports N5.2bn after tax
Business

NGX appoints Jumoke Olaniyan as group chief strategy officer

Nigerian Exchange Group Plc has appointed Ms. Jumoke Olaniyan as Group Chief Strategy Officer, aiming to bolster its executive leadership. In a statement on Monday, the Group said the appointment will drive its next phase of strategic growth, digital transformation, product innovation, and market expansion. In her new role, Olaniyan will oversee enterprise-wide strategy formulation […]

Business

FCT-IRS urges all taxpayers to file 2025 returns by March 31

The Federal Capital Territory Internal Revenue Service has called on all taxable residents to submit their personal income tax returns on or before March 31, 2026. The notice covers employees, elected and appointed public office holders, self-employed individuals, and business owners. In a statement issued on Monday, the Head of Corporate Communications, Mustapha Sumaila, said […]

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Govs endorse Tinubu’s direct oil revenue remittance to FAAC

The 36 state governors, under the aegis of the Nigeria Governors’ Forum, have thrown their weight behind President Bola Tinubu’s reforms requiring oil and gas revenue entitlements to be remitted directly into the Federation Account. In a statement on Monday by NGF’s Director of Media & Strategic Communications, Yunusa Tanko Abdullahi, the Forum described the […]

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NCC to mandate two-week notice for inactive, postpaid SIMs

The Nigerian Communications Commission has proposed that telecom operators be required to give subscribers at least 14 days’ notice before deactivating their SIM cards due to inactivity or post-paid churn. The proposal is outlined in a consultation paper titled Stakeholders Consultation Process for the Telecoms Identity Risks Management Platform, dated February 2026 and published on […]

Business

Marine insurers cancel war risk coverage amid Middle-East tension

Marine insurers are pulling war risk coverage for ships in Iranian waters, the Gulf, and nearby routes as regional tensions escalate. This follows a series of attacks on vessels and regional strikes, heightening security risks along a key global energy corridor, according to Reuters on Monday, citing official notices from top insurers. Shipowners operating in […]

FAAC funds to FG, states hit 7-year high in 2023
Oil and Gas

FG begins direct oil revenue remittance to FAAC

The Federal Government has begun implementing Executive Order 9 of 2026, requiring the direct remittance of oil revenues to the Federation Account Allocation Committee. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this in a statement released on Monday. He outlined the main decisions from the recent meeting. The action […]

PETROAN dismisses fuel scarcity fears amid naira-for-crude controversy
featured Oil and Gas

BREAKING: Dangote refinery raises petrol price to ₦875/litre amid crude surge

The Dangote Petroleum Refinery has raised its Premium Motor Spirit gantry price by N101 per litre, increasing the ex-depot rate from N774 to N875 per litre. This adjustment has intensified worries about impending nationwide fuel price hikes. A senior official at the refinery confirmed the change to The PUNCH on Monday. The official explained that […]

NELFUND to launch vocational loan scheme in Enugu by July
Finance

NELFUND extends student loan portal amid application surge

The Nigerian Education Loan Fund has announced an extension of its Student Loan Application Portal. This follows a surge in applications resulting from the organisation’s nationwide sensitisation campaign. The extension was granted just days after NELFUND had reminded students that the portal would close on February 27, 2026. Strong appeals from students, institutions, and other […]

NGX reports N5.2bn profit despite economic hardship
Business

Dangote picks Stanbic, Vetiva, First Capital for refinery NGX listing

The Dangote Group has appointed Stanbic IBTC Capital, Vetiva Capital Management, and First Capital as lead issuing houses and financial advisers for the upcoming Nigerian Exchange listing of its $20 billion Dangote Petroleum Refinery & Petrochemicals FZE. Sources familiar with the matter say this could mark Africa’s largest equity offering, with plans to float 5-10 […]

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