Business

NAICOM revokes Nigeria Reinsurance licence over capital requirement

  • 6th August 2026

MEMAN backs cassava ethanol blending to cut petrol

  • 6th August 2026

Fake agency DG opposes closed-door house questioning, seeks

  • 6th August 2026

Osun to sue EFFC over frozen account

  • 5th August 2026

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Meta AI model breaches external system during security test

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BREAKING: Tinubu orders EFCC to unfreeze Osun govt accounts

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Ex-finance minister Kemi Adeosun loses husband at 62

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Naira stable at ₦1,362/$ in official FX market

Finance

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Musk's DOGE team allegedly spying on US govt workers
Tech

Tesla nears completion of AI5 self-driving chip design – Musk

Tesla CEO Elon Musk said on Saturday that the company has almost finished designing its AI5 self-driving computer chip. This development of the AI6 chip is already underway, with Tesla targeting a nine-month design cycle for its next-generation chips. “Our AI5 chip design is almost done, and AI6 is in early stages, but there will […]

Business

Metro Africa Xpress raises $24m in equity, debt funding round

Metro Africa Xpress, a Nigerian mobility financing startup, has secured $24 million in a blended equity and debt funding round. The round includes equity investments from Equitane DMCC, Novastar, and Endeavor Catalyst, alongside asset-backed debt financing from the Energy Entrepreneurs Growth Fund and other development finance partners, according to Tech Cabal. The new capital will […]

Business

GEEP, NIRSAL partner to strengthen risk management

The Government Enterprise and Empowerment Programme has formed a strategic partnership with the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending to enhance risk management and scale support for the FarmerMoni initiative. GEEP said the collaboration will also strengthen the FarmerMoni ecosystem and support the wider goals of the National Social Investment Programme Agency. The […]

New SEC regulation to enhance transparency in bank recapitalization
Business

SEC lowers fund manager capital requirement to 0.1% after industry pushback

The Securities and Exchange Commission has clarified that fund and portfolio managers are required to hold 0.1 per cent of Assets Under Management as regulatory capital, not 10 per cent as initially indicated in its January 16, 2026, circular. Reliable sources within the SEC confirmed the correction following feedback from capital market operators, according to […]

Business

Geregu Power board proposes N9 dividend per share

The board of directors of Geregu Power Plc has proposed a dividend of N9 per ordinary share. In a statement signed by company secretary Gbeminiyi Shoda, the board also approved the company’s audited financial statements for the year ended December 31, 2025. The approvals were made during a board meeting on January 15, 2026. “Recommendation […]

Aviation featured

Qatar Airways flight makes emergency landing at Lagos airport

At least 248 passengers narrowly escaped disaster on Friday night when a Qatar Airways plane developed a technical fault mid-flight, forcing an emergency landing at Murtala Muhammed International Airport in Lagos. The Lagos State Emergency Management Agency confirmed that the aircraft, carrying 248 passengers and 12 crew members, experienced the issue while flying over Nigerian […]

Musk's DOGE team allegedly spying on US govt workers
Tech

Musk demands $134bn in damages from OpenAI, Microsoft

Elon Musk is seeking between US$79 billion and US$134 billion in damages from OpenAI and Microsoft, alleging that the generative AI company defrauded him by abandoning its nonprofit mission and forming a partnership with the software giant. Musk’s attorney outlined the damages claim in a court filing on Friday, a day after a United States […]

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Google appeals US court decision on illegal internet search monopoly

Google on Friday filed an appeal against a United States federal judge’s ruling that the company unlawfully monopolised the internet search market. The move could delay the implementation of remedies against the Alphabet-owned firm as the legal process continues. Reacting to the 2024 decision, Google’s Vice President of Regulatory Affairs, Lee-Anne Mulholland, said the ruling […]

News

Ikorodu ferry terminal to reopen after prolonged hyacinth blockage

The Ikorodu Ferry Terminal is set to resume passenger services on Monday, January 19, 2026, after being closed for several months due to heavy water hyacinth that obstructed navigation. The Lagos State Waterways Authority confirmed this in a statement released on Friday. The terminal had remained closed since October 20, 2025, when the widespread infestation […]

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Nigerian stock market rebounds as investors gain N30bn

The Nigerian stock market rebounded on Friday, reversing the previous day’s decline as investors gained about N30 billion in portfolio value. The recovery was driven by price appreciation in stocks such as Red Star Express, NCR Nigeria, SCOA, Omatek Ventures and Deep Capital Management, which pushed the market into positive territory. Market data showed that […]

Business

MyInvestar records 821% inflow growth amid economic headwinds

First Ally Asset Management recorded an exceptional performance year for its digital investment platform, MyInvestar, as Nigeria’s financial markets contended with a high-interest-rate environment and major macroeconomic adjustments in 2025. In a performance update shared with stakeholders, the firm disclosed that net inflows on the MyInvestar platform surged by 821.5 per cent, climbing to ₦2.69 […]

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