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AMCON recovers N165bn from bank debtors in H1

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Transportation

NRC suspends Warri-Itakpe train service indefinitely

The Nigerian Railway Corporation has announced the indefinite suspension of the Warri–Itakpe Train Service due to operational and technical concerns. The development comes as the Federal Government approved a 50 per cent reduction in fares on all train services operated by the NRC for the Eid-el-Kabir celebrations. The NRC management disclosed the suspension through its […]

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WHO raises alarm as Ebola cases multiply across DR Congo, Uganda

The Director-General of the World Health Organization, Tedros Adhanom Ghebreyesus, has raised concerns over the worsening Ebola outbreak in the Democratic Republic of Congo and neighbouring Uganda. He warned that more infections are expected in the coming weeks. Tedros disclosed this in an update posted on his X platform on Tuesday. According to him, 101 […]

Banking

Fidelity Bank posts N92.4bn Q1 profit

Fidelity Bank Plc has reported a pretax profit of N92.4 billion for the first quarter of 2026, representing a 12.57 per cent decline from the N105.7 billion posted in the corresponding period of 2025. The bank’s performance was underpinned by strong growth in interest income, which rose to N314.4 billion from N256.1 billion a year […]

Business

BP ousts chairman amid concerns over conduct, oversight

British oil giant BP has ousted Albert Manifold from his position as chairman less than a year after his appointment, citing “serious concerns” over governance standards, oversight, and conduct within the company. The unexpected announcement rattled investors, sending BP shares down by more than 6 per cent in sharp market trading, according to AFP. “The […]

Tech

SpaceX demands higher fees from Pentagon over Starlink drone connectivity

SpaceX has pressed the United States Department of Defense to significantly increase what it pays for access to its Starlink satellite network, as Elon Musk’s space company becomes more deeply embedded in America’s expanding drone operations in the Iran conflict. According to sources familiar with the discussions and Pentagon documents reviewed by Reuters, senior SpaceX […]

Business

Africa mobilises $498.8m as Ebola death toll hits 220

Africa has secured about $498.8 million in pledges and commitments to bolster response efforts against the ongoing Bundibugyo Ebola virus outbreak across affected and high-risk countries, as the death toll has risen to 220. This was disclosed on Monday, May 26, 2026, by Jean Kaseya, Director-General of the Africa Centres for Disease Control and Prevention, […]

Business

Nigeria, Türkiye sign MoU to boost solid minerals cooperation

Nigeria and the Republic of Türkiye have signed a Memorandum of Understanding to enhance bilateral cooperation in the solid minerals sector, in a bid to deepen economic ties between both countries. The agreement was concluded on the sidelines of the Istanbul Natural Resources Summit in Türkiye, according to a statement released by the Federal Government […]

Banking

Fidelity Bank names veteran banker Ososuakpor as non-executive director

Fidelity Bank Plc has appointed seasoned banking professional Jonathan Oniovosa Ososuakpor as a Non-Executive Director on its board. The appointment was announced in a statement signed by the bank’s Company Secretary, Ezinwa Unuigboje. According to the statement, the appointment became effective on May 22, 2026, after receiving approval from the Central Bank of Nigeria. Fidelity […]

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UK excludes Nigeria from stricter Russian fuel sanctions

The United Kingdom has excluded Nigeria from tougher compliance measures introduced under its latest sanctions regime targeting fuels refined from Russian crude in third countries, according to new guidance issued by British authorities and reviewed by S&P Global. The restrictions, which took effect on May 20, are designed to close a longstanding “refining loophole” that […]

Business

Pope Leo warns AI must face strict ethical controls

Pope Leo has criticised the “culture of power” behind the rapid expansion of artificial intelligence, warning that the technology must be held to “the most rigorous” ethical standards as it spreads across fields from employment to warfare. In his encyclical, the first major document of his papacy focused on safeguarding humanity, he also issued an […]

Business

Oil prices mixed after US strikes against Iran clouds peace prospects

Oil prices traded unevenly on Tuesday as United States military operations in southern Iran and President Donald Trump’s conflicting signals on talks between Tehran and Washington unsettled market sentiment. Brent crude for July delivery rose 1.6 per cent to $97.72 per barrel during Asian trading, while U.S. West Texas Intermediate futures for June fell 5.4 […]

Business

FG cancels $717.7m W’Bank power sector loan

The Federal Government has cancelled $717.7 million in undisbursed World Bank funding for Nigeria’s struggling power sector, effectively winding down the remaining tranche of a $1.52 billion electricity recovery programme. The decision comes amid growing tariff shortfalls, deepening financial strain, and ongoing implementation challenges in the industry. Documents from the World Bank website on Monday […]

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