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FG resets profit-sharing terms to attract new deep

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Policy and Regulations

NCAA threatens to suspend Royal Air Maroc over violations

The Nigeria Civil Aviation Authority has threatened to suspend the operations of Royal Air Maroc in Nigeria over alleged persistent violations of consumer protection regulations and poor treatment of Nigerian passengers. The warning was issued on Thursday by the NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu, in a post on X. He […]

Business

Dangote Refinery completes $2.5bn equity placement, ahead of IPO

Dangote Petroleum Refinery and Petrochemicals FZE (DPRP or the Enterprise) on Thursday announced the successful completion of its landmark private placement, which achieved 3.7 times subscription relative to the initial offer size and resulted in the issuance and allotment of approximately US$2.5 billion in new equity. This transaction is believed to be Africa’s largest publicly […]

Aviation

Air Peace partners Etihad Airways to boost connectivity

West Africa’s largest airline, Air Peace, has entered into a strategic partnership with Abu Dhabi-based Etihad Airways, a move expected to improve international connectivity for its passengers and further strengthen its growing global presence. The agreement will enable travellers to connect more easily from Nigeria through Etihad’s hub in Abu Dhabi to several destinations across […]

Finance

Private sector credit rises to ₦83.26trn in June

Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, according to the latest data from the Central Bank of Nigeria. The increase represents a month-on-month rise of about N2.22 trillion. Year-on-year, the figure represents a 9 per cent increase compared with the N76.13 trillion recorded in June […]

Policy and Regulations

EU fines Google €890m over digital markets act breach

The European Commission has fined Google a total of €890 million, equivalent to approximately $1 billion, for breaching European Union rules designed to curb the power of Big Tech. The development marks the first fines imposed on Google under the Digital Markets Act and its fifth and sixth overall penalties for anti-competitive practices, according to […]

Business

Transcorp’s H1 pre-tax profit falls 11.45% to ₦75.9bn

Transnational Corporation Plc has released its H1 2026 results for the period ended June 30, 2026, reporting a pretax profit of N75.9 billion, representing an 11.45 per cent year-on-year decline from N85.7 billion in H1 2025. The decline in H1 pretax profit was driven in part by a weaker second-quarter performance. Q2 pretax profit fell […]

Scams

Customs debunk fake recruitment update on social media

The Nigeria Customs Service says the purported recruitment update currently circulating on some social media platforms is fake and did not originate from the service. NCS’s spokesperson, Abdullahi Maiwada, made this known in a statement on Thursday in Abuja. Maiwada urged members of the public to disregard the false information, saying the service would only […]

News

Kwara law officers issue strike notice over unpaid allowances

Law officers in the Kwara State Ministry of Justice have issued a seven-day notice of indefinite strike to the state government over the alleged non-payment of outstanding statutory allowances and the failure to harmonise their salaries and conditions of service with those of magistrates in the state judiciary. The Law Officers Association of Nigeria, Kwara […]

Finance

Nigeria’s money supply rises to ₦133.25trn in June

Nigeria’s broad money supply rose to N133.25 trillion in June 2026 from N129.21 trillion in May, even as the Central Bank of Nigeria maintained its benchmark interest rate at 26.5 per cent. The increase was disclosed in the CBN’s latest money and credit statistics released on Wednesday. Broad money, or M3, comprises currency in circulation […]

Business

First HoldCo targets ₦1.2trn profit in 2026

First HoldCo Plc, Nigeria’s most valuable banking group by market capitalisation, says it expects profit before tax to exceed N1.2 trillion ($876 million) for the full year 2026, as its recapitalisation drive and a clean-up of legacy bad loans begin to pay off. The Chief Executive Officer of FirstBank, Olusegun Alebiosu, disclosed the projection in […]

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