Business

India-Nigeria trade hits $9bn, rises by 26%

  • 17th August 2026

High lending rates still threaten manufacturing sector recovery

  • 17th August 2026

FG resets profit-sharing terms to attract new deep

  • 17th August 2026

Banks, fintechs file 42,082 suspicious transaction to NFIU

  • 17th August 2026

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25-year-old AI chip founder becomes Europe’s youngest self-made billionaire

Life Style

Nigeria’s headline inflation falls to 15.43% in July

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BOI raises N250bn in debut domestic bond issuance

Banking

Mystery buyers trigger bulk book orders across UK, Ireland

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Tech

Amazon cuts AGI workforce despite massive investment in AI

Amazon is laying off some employees in its artificial general intelligence unit, the company confirmed on Wednesday, as it continues to reduce its workforce while significantly increasing investments in artificial intelligence. The company did not disclose the number of employees affected or specify which parts of the AGI division were impacted by the cuts. Amazon’s […]

Banking featured

Otedola acquires additional 706.13m First HoldCo shares

Billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial holding company after a related entity purchased 706.13 million ordinary shares valued at approximately N77.6 billion in a single transaction on the Nigerian Exchange. The acquisition was disclosed in a regulatory filing submitted to the NGX on Wednesday. […]

Business

Proposed pension contribution increase will affect only employers – PenCom

The Director-General of the National Pension Commission, Omolola Oloworaran, has clarified that the proposed increase in pension contribution rates under the ongoing review of the Pension Reform Act 2014 will affect only employers, not employees. Oloworaran made the clarification on Wednesday amid concerns that higher pension contributions could increase the financial burden on Nigerian workers. […]

Business

ICPC recovers N942m from ghost workers across federal agencies

The Independent Corrupt Practices and Other Related Offences Commission has uncovered 908 suspected ghost workers across at least 50 federal ministries, departments and agencies, recovering about N942 million allegedly paid as fraudulent salaries during a payroll verification exercise. The ICPC Chairman, Musa Adamu Aliyu, disclosed the findings while discussing the commission’s investigation into payroll fraud […]

Policy and Regulations

Reps begin debate on bill for rural development commission

The House of Representatives on Wednesday began consideration of a bill seeking to establish the National Commission for Rural Infrastructure and Development. The sponsor of the bill argued that Nigeria cannot achieve sustainable economic growth while millions of rural residents lack access to basic infrastructure and economic opportunities. Leading the debate on the general principles […]

Business

Oil prices surge nearly 4% as Strait of Hormuz dispute deepens

Oil prices rose nearly 4 per cent on Wednesday morning after the United States launched its 11th consecutive round of overnight strikes against Iran, while Secretary of State Marco Rubio said the Strait of Hormuz remained a key sticking point in negotiations between the two sides. The global benchmark Brent crude futures for July delivery […]

Economy featured

Nigeria’s external reserves hit $52.02bn, highest since 2009

Nigeria’s external reserves rose to $52.02 billion on July 20, 2026, reaching their highest level since January 2009 and surpassing the Central Bank of Nigeria’s projected level for the full year. Nairametrics reported that the CBN database showed that the country’s external reserves stood at $52.01 billion as of January 15, 2009. The latest position […]

Business

MREIF posts ₦14.49bn profit before tax in H1 2026

MOFI Real Estate Investment Fund reported profit before tax of N14.49 billion for the six months ended June 30, 2026, supported by strong income generation from its investment portfolio. Interest income from cash and cash equivalents and financial assets measured at amortized cost totalled N14.31 billion, accounting for 81.9 per cent of the Fund’s N17.48 […]

Investment

FG launches mobile training workshop to empower 2,000 teachers

The Federal Government has launched a three-day Master Training Workshop aimed at enhancing teachers’ professional development through mobile-based learning, with a target of training at least 2,000 teachers and school leaders across Nigeria. The initiative, which places special emphasis on empowering female school leaders, is being implemented by the Federal Ministry of Education in collaboration […]

News

NiMet, NCCC agree to sign MoU on climate services

The Nigerian Meteorological Agency and the National Council on Climate Change have agreed to deepen collaboration on climate services, climate data management and national climate resilience initiatives through the signing of a Memorandum of Understanding. This was disclosed in a statement issued by the agency on Wednesday following a courtesy visit by the Director-General and […]

Business

First HoldCo stock crosses ₦5trn market cap mark

Shares of First HoldCo Plc pushed above the N5 trillion market capitalization mark during midday trading on Wednesday, July 22, 2026, as investors continued to react positively to the group’s strong H1 2026 financial performance. The financial services group’s stock traded around the N112 to N113 range during intraday transactions on the Nigerian Exchange, extending […]

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