Business

Tony Elumelu named Seplat chairman in major leadership

  • 9th June 2026

OpenAI files for IPO as AI firms race

  • 9th June 2026

Nigeria’s transmission grid not limiting electricity supply –

  • 9th June 2026

US judge blocks Trump’s $100,000 H-1B visa fee

  • 8th June 2026

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Nigeria’s economy stronger but poverty worsened, IMF warns

Economy

Africa loses billions to corruption, recovers little, Kenyan envoy

Economy

Tony Elumelu named Seplat chairman in major leadership shakeup

Business

Tinubu approves ₦10bn to tackle Ebola threat in Nigeria

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Blog

Business

Nigerian stocks shed ₦5trn as investors take profit from June 1

Nigerian stocks have lost more than N5 trillion in value since June 1 as profit-taking activities gathered pace on the Nigerian Exchange, following months of strong gains that pushed the market to unprecedented levels. The market capitalisation had surged beyond N160 trillion at the end of May, reflecting the remarkable performance recorded by listed equities […]

Business

Senate approves new tax framework on sugar-sweetened beverages

The Senate has approved a new excise duty framework for sugar-sweetened beverages, replacing the existing N10-per-litre levy with a retail price-based tax system and establishing a dedicated funding mechanism for public health initiatives. The approval followed the adoption of the report on the Customs, Excise Tariff, etc. (Amendment) Bill, presented by Senator Sani Musa, chairman […]

Tech

Uber unveils AV data collection car for expanding robotaxi network

Uber on Wednesday unveiled a prototype vehicle designed to collect real-world driving data for its expanding network of autonomous vehicle partners, including Avride, Waymo, and WeRide. The car itself is not a radical redesign. It is a Hyundai Ioniq 5 fitted with an extensive array of sensors mounted across its roof and body. While the […]

Business

CBN surpasses target, raises N1.457tn in June treasury bill auction

The Central Bank of Nigeria raised N1.457 trillion at its June 3 Treasury Bills Primary Market Auction, despite strong investor demand that drove total subscriptions to N2.160 trillion, more than twice the N1 trillion on offer. The 364-day tenor dominated activity, attracting subscriptions of N1.946 trillion against an N800 billion offer, underscoring sustained appetite for […]

Entertainment featured

Beyoncé, Rihanna join Forbes billionaires self-made list

Beyoncé and Rihanna have both secured positions on Forbes 11th annual list of America’s Richest Self-Made Women, joining the ranks of the country’s wealthiest female billionaires. Beyoncé ranked 43rd on the list with an estimated net worth of $1 billion, while Rihanna placed 39th, also valued at $1 billion. Forbes attributed Beyoncé’s entry into the […]

Electricity

NERC approves power supply shortfall compensation for ‘Band A’ customers

The Nigerian Electricity Regulatory Commission has approved a special compensation package for eligible Band A electricity customers affected by power supply shortfalls caused by grid generation constraints between February and March 2026. In a public notice issued on Thursday, the commission said the directive became necessary following significant generation shortages across the Nigerian Electricity Supply […]

featured Finance

Naira trades at ₦1,373/$ at official FX market

The naira traded within a relatively stable range against the United States dollar on Thursday, June 4, 2026, as the gap between the official and parallel foreign exchange markets remained narrow. At the Nigerian Foreign Exchange Market, the local currency was quoted at about ₦1,373 to the dollar, according to the latest official market figures […]

Business

NESG reports improved business confidence in May

The Nigerian Economic Summit Group has reported an improvement in business confidence in May 2026, attributing the positive development largely to a strong recovery in the manufacturing sector and robust consumer demand despite persistent cost pressures facing businesses. According to the latest NESG Business Confidence Monitor, the Current Business Performance Index rose to 104.6 points […]

Banking featured

Banks earn ₦209bn from account maintenance charges

Nigerian banks generated a combined N209.18bn from account maintenance charges in the first quarter of 2026, representing a 14.07 per cent increase from the N183.37bn recorded during the corresponding period of 2025, according to an analysis of the unaudited financial statements of 11 listed lenders. The PUNCH reported that the review further revealed that total […]

Agribusiness featured

Cocoa price volatility threatens Africa’s farmers, group warns

The Cocoa and Coffee Farmers Alliance Association of Africa has identified persistent market volatility as one of the greatest obstacles to the sustainable development of Africa’s cocoa industry, warning that fluctuating prices continue to weaken farmers’ livelihoods and discourage investment throughout the value chain. The PUNCH reported that speaking ahead of the Cocoa and Coffee […]

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