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Finance ministry demands legal basis for N680m NAICOM

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NGX listed firms earned ₦179.5bn finance income in

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Nigeria’s monthly data consumption hits record 1.5mTB in

  • 10th August 2026

NITDA urges regulatory collaboration to support emerging technologies

  • 10th August 2026

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Telecommunications

SIM swap services resume nationwide after major disruption

Telecommunications operators have resumed SIM swap services after recent disruptions that impacted millions of subscribers across Nigeria. MTN and Airtel confirmed the development on Sunday, explaining that the earlier delays were caused by challenges accessing the National Identity Management Commission’s verification platform. In a post on its MTN Nigeria Support account on X, MTN stated, […]

Private sector laments loan repayment as interest rate hits 26.26%
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Rising FAAC payouts threaten inflation control, Cardoso cautions

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has expressed concern over the inflationary pressures resulting from rising liquidity in the banking sector. He cautioned that growing disbursements of statutory revenues through the Federation Account Allocation Committee could undermine the CBN’s disinflation efforts if not accompanied by strict monetary measures. In his personal […]

Enugu slashes Band A electricity tariff to N160 per unit
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Enugu slashes Band A electricity tariff to N160 per unit

The Enugu State Electricity Regulatory Commission has announced a reduction in electricity tariffs for Band A customers, slashing the rate from N209 to N160 per kilowatt-hour. The new pricing is set to take effect from August 1, 2025. The adjustment follows the formal transfer of control over the state’s electricity market to MainPower Electricity Distribution […]

MTN Nigeria to build new HQ in Eko Atlantic
Business

FCMB, TotalEnergies partner to deliver 157-unit residential tower in Eko Atlantic

First City Monument Bank has partnered with TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd to finance and develop Louisville Phase 1, a 157-unit residential tower located in Eko Atlantic City, Lagos. The project is a key component of the broader $150 million Louisville mixed-use development, which will also include a luxury hotel, commercial spaces, sports […]

Stock investors gain N3.4tn in shortened trading week
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Stock investors gain N3.4tn in shortened trading week

The Nigerian stock market maintained its bullish momentum last week, with investors gaining a total of N3.4 trillion despite a shortened trading week due to a public holiday in honour of former President Muhammadu Buhari. Data from the Nigerian Exchange Limited showed that the market capitalisation rose to N83.24 trillion, up from N79.80 trillion the […]

Aviation

Alaska Airlines grounds all flights after IT outage 

United States Alaska Airlines grounded all flights on Sunday due to an IT outage that disrupted its systems, the company announced, without disclosing specific details. This marks the second time in just over a year the airline has halted operations fleet-wide. “At approximately 8pm Pacific on Sunday (0300 GMT on Monday), Alaska Airlines experienced an […]

Moniepoint raises $110m in funding
Business

North-East traders embrace digital tools to curb theft – Report 

A new study by Moniepoint Inc. shows that traders in Nigeria’s North-East are increasingly adopting digital payments to reduce theft and streamline their accounting. According to the statement, digital tools are becoming more integrated into the region’s livestock trade ecosystem. Agriculture—central to Nigeria’s non-oil economy—accounted for 24.64% of the country’s real GDP in Q4 2024. […]

Banking

Zenith Bank ranked Nigeria’s best bank 

Zenith Bank Plc has been named Nigeria’s Best Bank at the 2025 Euromoney Awards for Excellence, the most prestigious national accolade in the industry. The award was presented on Thursday in London. In a statement, the bank said the recognition affirms its dedication to providing outstanding banking services, innovative solutions, and strong returns for customers […]

Business

Ex-WEF boss investigated for rigging economic rankings, dubious expenses

Klaus Schwab, founder and former head of the World Economic Forum, is facing serious allegations of misconduct, according to a report by Swiss newspaper SonntagsZeitung. The paper cites preliminary findings from an investigation led by Zurich-based law firm Homburger, which suggest Schwab may have manipulated WEF economic rankings for political purposes and filed questionable expense […]

CAC denies irregular recruitment
Business

CAC’s AI portal handles 11,000 daily transactions

The Corporate Affairs Commission says its new Artificial Intelligence-powered business registration portal is now handling over 11,000 transactions daily, marking a significant advance in automation despite ongoing technical challenges. In a statement on Sunday, the CAC acknowledged persistent issues with identity verification and payment processing but assured users that efforts are underway to resolve them. […]

Equity firm Blackstone pulls out of TikTok US deal
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Equity firm Blackstone pulls out of TikTok US deal

Private equity giant Blackstone has withdrawn from a consortium bidding to acquire TikTok’s United States operations, Reuters reported. The move marks the latest shift in a deal clouded by delays and growing uncertainty, as TikTok’s fate remains entangled in broader U.S.-China trade tensions. Blackstone had been expected to take a minority stake in the U.S. […]

CBN halts cash payment for travel allowance fees
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Nigeria’s debt could hit N160.6tn by year-end, stockbrokers warn

Nigeria’s total public debt may surge to N160.6 trillion by the end of 2025, raising fresh concerns over the country’s fiscal sustainability, according to a new report by CSL Stockbrokers Limited. In its 2025 second-half economic outlook, the financial services firm—a subsidiary of FCMB Group Plc—projects that the Federal Government may be forced to borrow […]

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