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EFCC charges two over alleged unlawful supply of

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Microsoft warns Africa risks becoming AI consumer

Tech

Tony Elumelu’s Heirs Holdings stake in Seplat crosses $1bn

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EFCC charges two over alleged unlawful supply of FCMB

Business

New airbus acquisition strengthens Ibom Air – Eno

Aviation

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Business

EU trade deficit with China hits record €1b daily0

The European Union’s trade deficit with China has surged to a record €1 billion (about £0.8 billion) per day, according to official trade figures, raising fresh concerns about the resilience of Europe’s industrial base. Data from Eurostat shows the gap between EU imports from China and exports to China reached €31.9 billion in April alone. […]

Tech

Experts urge US to reverse export ban on Anthropic AI models

A group of dozens of cybersecurity experts, including several prominent industry veterans, has published an open letter to the United States government urging it to reverse an export control order placed on Anthropic’s Fable and Mythos models. The letter argues that the restriction has effectively “taken the best models away from [cybersecurity] defenders,” limiting their […]

featured Finance

Naira depreciates to ₦1400/$ at parallel FX market

The Naira on Monday depreciated to N1,400 per United States dollar in the parallel market from N1,390 per dollar last weekend. However, the naira appreciated to N1,356 per dollar in the Nigerian Foreign Exchange Market. Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the market fell to N1,356 […]

Business

Dangote, AFC sign $600m deal to boost fertiliser output

The Dangote Group has reinforced its strategic partnership with the Africa Finance Corporation through the signing of a $600 million loan agreement aimed at expanding fertiliser production capacity and enhancing food security across Nigeria and the African continent. According to a statement issued by the company on Monday, the financing facility granted to GreenView Fertiliser […]

featured Oil and Gas

Oil, gas, banking stocks drag market into bearish mode

The Nigerian equities market relapsed into a bearish mode on Monday, June 15, 2026, as investors resumed profit-taking in oil and gas and banking heavyweights, erasing approximately N945 billion from investors’ wealth. The NGX All-Share Index declined by 0.60 per cent to close at 243,271.57 points, while market capitalisation shed an equivalent percentage to settle […]

Business

Nigeria lost N1.75tn in crude export revenue in Q1 – NBS

Nigeria’s crude oil export earnings dropped by N1.75tn in the first quarter of 2026, despite higher global crude prices, according to data released by the National Bureau of Statistics. The NBS, in its Foreign Trade in Goods Statistics report for Q1 2026, disclosed that crude oil exports were valued at N11.20tn, down from N12.96tn recorded […]

Aviation

FAAN probes staff over alleged N4.4bn gold smuggling scheme

The Federal Airports Authority of Nigeria has launched an official investigation into allegations of gold smuggling involving some of its personnel. The development follows the arrest of a FAAN Aviation Security officer, Ali Baffa, by operatives of the Economic and Financial Crimes Commission over an alleged attempt to smuggle gold valued at N4.4 billion out […]

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Dangote Refinery slashes petrol gantry price by N75/litre

Dangote Petroleum Refinery has announced a N75 per litre reduction in the gantry price of Premium Motor Spirit, commonly known as petrol, citing easing tensions in the Middle East that had contributed to elevated energy prices over the past three months. In a circular issued to fuel marketers on Monday, the refinery said it reviewed […]

Business

Over 70% eligible staff accept NNPCL early retirement scheme

The Nigerian National Petroleum Company Limited has commenced an early retirement scheme that is already attracting significant interest from employees, with officials confirming that more than 70 per cent of eligible staff have indicated willingness to participate in the voluntary exit arrangement. The initiative, structured under the Accelerated Exit Scheme and the Voluntary Exit Scheme, […]

Finance

DMO to raise ₦1.2trn through FGN bond reopening

The Debt Management Office, on behalf of the Federal Government of Nigeria, will reopen two FGN Bonds to raise a combined N1.2 trillion at an auction scheduled for Sunday, June 22, 2026. In its official offer circular published on Monday, June 15, the debt office disclosed that it will offer N600 billion each in a […]

Finance

United Capital acquires 5% stake in NGX

United Capital Group has announced the acquisition of a five per cent equity stake in the Nigerian Exchange Group. Nairametrics reported that the acquisition was disclosed in a statement issued on Monday, June 15, 2026, and signed by the Group General Counsel and Company Secretary, Dr. Leo Okafor. The transaction marks a milestone in the […]

Policy and Regulations

CBN orders banks, fintechs to store data locally

The Central Bank of Nigeria has directed banks, fintech firms, mobile money operators and other payment service providers to store all payment transaction data generated within Nigeria on local servers, as part of a broader regulatory push to strengthen oversight, improve transparency and reduce concentration risks in the country’s fast-growing digital payments ecosystem. The directive […]

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