Business

African startups raise $102m in lowest month since

  • 3rd August 2026

Otedola targets 51% controlling stake in First HoldCo

  • 3rd August 2026

Nigeria can boost global creative edge via indigenous

  • 3rd August 2026

UK state investment agency faces security review after

  • 3rd August 2026

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Visa expands cybersecurity push with $2.4bn BioCatch acquisition

Tech

NRS mandates tax ID for crypto account activation

featured

African startups raise $102m in lowest month since 2025

Business

Otedola targets 51% controlling stake in First HoldCo

Business

Blog

Wema bank posts ₦100.5bn pre-tax profit in H1 2025
Banking

Wema Bank hit N222bn 2025 pre-tax profit, up by 116%

Wema Bank Plc has published its unaudited financial results for the year ended December 31, 2025, posting a pre-tax profit of N222.07 billion — a 116.3% jump from N102.52 billion in 2024. Profit after tax rose sharply to N193.19 billion, representing a 123.54 per cent increase from N86.28 billion a year earlier. The strong performance […]

Oil and Gas

NUPRC promises transparent 2025 oil licensing bid round

The Nigerian Upstream Petroleum Regulatory Commission has assured that the 2025 licensing bid round will be guided by transparency, as only applicants with financial and technical know-how will qualify for the critical stage of the bid process. The Chief Executive of the NUPRC, Mrs. Oritsemeyiwa Eyesan, gave the clarification at the 2025 licensing round pre-bid […]

India seeks to keep US trade talks on track despite tariff hike
Policy and Regulations

Trump imposes tariffs threat on nations selling oil to Cuba

United States President Donald Trump signed an executive order on Thursday that threatens to impose additional tariffs on countries selling oil to Cuba. The move significantly increases economic pressure on the communist-led island nation. The executive order, released by the White House, states in part: “An additional ad valorem (estimated value) duty may be imposed […]

Opinion

UK risks danger by dealing with China, Trump warns

United States President Donald Trump has described it as “very dangerous” for Britain, a close ally, to engage in business dealings with China. Trump made the comment on Thursday while speaking to reporters at the premiere of a documentary about his wife, First Lady Melania Trump. When asked about Britain “getting into business” with China […]

Business

Sit-at-home: Ebonyi traders in Anambra reject protest, back Soludo

Ebonyi traders operating in Anambra State have distanced themselves from any planned protest against the closure of the Onitsha Main Market. They declared full support for Anambra State Governor Prof. Chukwuma Soludo’s policy requiring full commercial activities on Mondays. The Ebonyi Town Union in Anambra State issued a statement on the matter through its President-General, […]

Electricity

Why Abia is unaffected by recent national grid collapses — Gov Otti

Abia State Governor Alex Otti has announced that the state is pursuing complete energy self-sufficiency amid ongoing instability in Nigeria’s national power grid. The governor emphasized that Abia is shielding itself from nationwide blackouts through targeted investments in renewable energy sources, particularly the conversion of organic waste, and by establishing full local regulatory authority over […]

Suspect arraigned for allegedly stealing N1.1bn from Moniepoint
Tech

Moniepoint hit ₦412tn transactions in 2025

Moniepoint Microfinance Bank reported processing transactions totaling ₦412 trillion and disbursing more than ₦1 trillion in loans in 2025. The figures were shared by Moniepoint Inc., the bank’s parent company, in its 2025 Year in Review report released Thursday. According to the company, the loans were primarily directed at small and medium-sized enterprises, including provision […]

Nigeria has best return on investments, Tinubu tells Indian investors
Finance

Reps pass Tinubu’s ₦58.18trn 2026 appropriation bill

The House of Representatives, on Thursday, approved President Bola Tinubu’s 2026 Appropriation Bill, endorsing a proposed N58.18 trillion budget anchored on macro-economic stability, enhanced security, and increased capital expenditure. The budget, christened “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” was presented to the National Assembly on December 19, 2025, and described by lawmakers […]

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months
featured Finance

Naira holds firm at ₦1,391/$ in official market

The Naira sustained its strong performance against the United States Dollar on the final trading day of January 2026. The local currency remained stable around the key 1,390 support level in the official market. This stability stemmed from ongoing liquidity interventions by the Central Bank of Nigeria and growing confidence among investors. In the Nigerian […]

Oil and Gas

Dangote Refinery reaffirms capacity to exceed local fuel demand

Dangote Petroleum Refinery has confirmed its ability to supply fuel volumes well above Nigeria’s domestic demand. The refinery said it can produce 75 million litres of Premium Motor Spirit daily, surpassing the country’s estimated consumption of 50 million litres. It can also supply 25 million litres of Automotive Gas Oil daily, compared with a national […]

Business

Lagos moves to register, formalise informal land assets

Lagos State has unveiled a statewide program to identify, register, and formalise informal land holdings valued at around N3 trillion. The initiative seeks to prevent land misuse, unlock untapped economic potential, and enhance internally generated revenue by incorporating previously undocumented land into the formal system. A statement on the state government’s official X account on […]

Tech

Nintendo, Sony set to release earnings amid AI chip surge

Japanese gaming leaders Nintendo and Sony are preparing to release their earnings next week, as industry watchers monitor the impact of rising memory chip prices fueled by AI demand. Nintendo’s Switch 2 continues to perform strongly, remaining the top-selling video game console in the US in 2025 despite cost pressures, according to Bloomberg. Sony’s PlayStation […]

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