Business

Nigeria secures $155m clean energy investments

  • 26th July 2026

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  • 25th July 2026

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  • 25th July 2026

US imposes new tariffs on UK, Canada, others

  • 24th July 2026

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featured

CBN sets two-day cap on contract suspensions during bank resolutions

The Central Bank of Nigeria has issued fresh guidance clarifying how Sections 34(2)(b) and 40(2) of the Banks and Other Financial Institutions Act, 2020 should be applied, setting a maximum suspension period of two business days for certain contractual obligations during the resolution of distressed banks. The clarification was contained in a circular issued on […]

Economy

UN warns DR Congo’s Ebola outbreak may push 985,000 into poverty

A new United Nations assessment has raised alarm that the ongoing Ebola outbreak in the Democratic Republic of the Congo could unleash a devastating socioeconomic crisis far beyond infections, pushing an estimated 985,000 more people into poverty and triggering up to 2,520 excess infant deaths from disrupted healthcare services. The report also projected that even […]

Helth

Eastern mediterranean carries half world humanitarian burden — WHO

The World Health Organisation has sounded a grave warning that the Eastern Mediterranean region now carries nearly half of the world’s humanitarian burden, even though it accounts for less than 10 per cent of the global population, exposing millions to worsening disease outbreaks, collapsing health systems and preventable deaths. Vanguard reported that speaking at an […]

Investment

Afreximbank urges media to change Africa’s negative investment narrative

President of the African Export-Import Bank, Dr George Elombi, has urged African journalists to reshape the continent’s narrative to boost investment and development. Vanguard reported that Elombi, who is also Chairman of the Board of Directors of Afreximbank, made the call during a media roundtable in Abuja on Wednesday. He stressed that prevailing international perceptions […]

Tech

AI-driven layoffs backfire as employers begin rehiring displaced workers again – Report

Companies are increasingly reversing earlier assumptions that artificial intelligence can handle every task, bringing back human workers as investors grow concerned about the long-term sustainability of the AI-driven boom in financial markets. Automaker Ford is among the latest firms to shift strategy. The company is reportedly rehiring hundreds of experienced engineers to tackle vehicle quality […]

featured Policy and Regulations

CBN revokes licences of 46 microfinance banks nationwide over violations

The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks across the country, citing their failure to meet key regulatory requirements for continued operations. The apex bank disclosed this in a statement issued on Wednesday and signed by its Acting Director of Corporate Communications, Hakama Sidi-Ali. The revocation, which took effect […]

Finance

Consumer credit falls ₦780bn despite improved banking liquidity

Nigeria’s consumer credit outstanding fell by N780 billion in February 2026, as elevated lending rates and tighter borrowing conditions weighed on household demand for loans despite easing monetary conditions and stronger banking system liquidity. Data contained in the Central Bank of Nigeria’s February 2026 Economic Report showed that total consumer credit declined by 20.48 per […]

Finance

20 Nigerian states to get $27m W’Bank grants

A total of 20 Nigerian states will receive a combined $27 million in performance-based grants under the World Bank-supported Human Capital Opportunities for Prosperity and Equity Governance Programme after meeting key reform targets in education, healthcare and public financial management. Nairametrics reported that the disbursement was announced on Tuesday by the National Coordinator of the […]

Finance

Nigeria omitted 2% GDP spending from budgets — IMF

Nigeria failed to record public spending equivalent to about 2 per cent of its Gross Domestic Product in recent official budgets, creating a gap between the country’s reported fiscal deficit and its actual financing needs, according to the International Monetary Fund. The disclosure was made on Wednesday by the IMF Resident Representative in Nigeria, Christian […]

Business

Lamborghini unveils Urus performance hybrid SUV after EV strategy shift

Lamborghini on Wednesday unveiled the Urus SE Performante, a new hybrid version of its high-performance SUV, as the Italian luxury carmaker deepens its focus on gas-electric models after shelving plans for a fully electric vehicle. The Urus SE Performante features a more aggressive exterior with a larger front grille, redesigned hood scoops and upgraded interior […]

Tech

Anthropic unveils Claude Sonnet 5 as AI race shifts to affordable models

Anthropic has launched Claude Sonnet 5, a more powerful version of its midsize language model, as competition among leading AI developers increasingly centers on delivering advanced “agentic” capabilities at lower costs. The company said Claude Sonnet 5 can independently plan tasks, use tools such as web browsers and computer terminals, and execute longer workflows with […]

featured Tech

UN warns rapid AI growth could deepen global inequality

A new United Nations report has warned that the rapid development of artificial intelligence could widen global inequality, calling for a shared international framework to guide the responsible development of the technology as adoption and investment continue to accelerate unevenly across countries. “Access to AI tools alone does not produce equal benefit,” the report states. […]

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