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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

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Aviation

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Nigerians, others borrowed $3.18bn airtime credit in 2025 — Optasia

Mobile phone subscribers in Nigeria and other emerging markets borrowed airtime worth $3.18bn on credit in 2025, with Africa accounting for more than 94 per cent of the total, according to the latest financial statements of fintech firm Optasia. The PUNCH reported that the company’s 2025 consolidated financial statements showed that airtime advances granted through […]

featured Food

Food beverage firms cut jobs amid rising costs

Nigeria’s food and beverage industry is facing worsening employment crisis as rising production costs, foreign exchange volatility and regulatory measures continue to force companies to cut jobs and scale down operations. Consequently, the Food, Beverage and Tobacco Senior Staff Association has raised the alarm over increasing layoffs across the sector, warning that unless urgent interventions […]

Banking

ATM, e-banking charges push banks’ earnings to N224.69bn

Nigerian banks earned N224.69bn from electronic banking services and ATM/card-related charges in the first quarter of 2026, marking a 12.56 per cent increase from N199.61bn recorded in the same period of 2025, according to an analysis of the unaudited financial results of 11 listed lenders. The growth reflects the continued expansion of digital banking and […]

Business

PenCom launches monitoring platform to enforce pension compliance

The National Pension Commission has stepped up efforts to enforce compliance with the Contributory Pension Scheme by launching a dedicated monitoring platform aimed at states yet to fully implement the pension system. As part of the initiative, the commission inaugurated the first Bi-Annual Consultative Session for Heads of Service from non-compliant states, a move designed […]

Business

Dangote refinery cuts West Africa fuel imports

The expansion of the Dangote Petroleum Refinery has led to a sharp reduction in clean petroleum product imports into West Africa, significantly altering regional tanker traffic and shipping patterns, according to a report by S&P Global. Data from S&P Global Commodities at Sea showed that West Africa’s imports of clean refined products fell by 23 […]

Business

Brent drops below $84 as Hormuz reopening plan calms markets

Oil prices fell to their lowest level since March on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister announced an initial agreement aimed at ending the conflict and restoring shipping through the Strait of Hormuz. Brent crude futures dropped $4.08, or 4.7 per cent, to $83.25 per barrel by 0415 GMT, while […]

Business

IMF urges Nigeria to tax telecom services, extend vAT to fuel

The International Monetary Fund has urged Nigeria to introduce excise duties on telecommunications services and expand Value Added Tax coverage to fuel products as part of efforts to boost government revenue and strengthen public finances. The recommendation was contained in the IMF’s latest Article IV Consultation Report on Nigeria, which highlighted the need for additional […]

Electricity

Atiku slams Tinubu’s ₦4trn power sector bond plan

Former Vice President Atiku Abubakar has criticised the Federal Government’s plan to raise a N4 trillion bond to settle outstanding liabilities in the power sector, describing the move as a sign of “fiscal recklessness and brazen contempt for public accountability.” In a statement issued on Sunday through his Senior Special Assistant on Public Communication, Phrank […]

Food

Insecurity, transport costs push Lagos ginger price to ₦46,000 — Report

Traders in Lagos have blamed insecurity in major producing communities, supply shortages, and rising transportation costs for the sharp increase in ginger prices, with a paint bucket now selling for as high as N46,000. The News Agency of Nigeria on Sunday, conducted interviews with market participants across Lagos, showing that reduced output from key producing […]

News

NIMC defends national identity database, says it’s functional

The National Identity Management Commission has dismissed claims suggesting that Nigeria does not have a functional National Identity Database, describing the assertion as misleading and contrary to the realities on the ground. In a statement signed by the Head of Corporate Communications Unit, Kayode Adegoke, the Commission said the National Identity Database is fully operational, […]

Business

CSCS profit before tax jumps 115.7% to ₦6.49bn

The Central Securities Clearing System Plc has reported a 115.7 per cent increase in profit before tax to N6.49 billion for the first quarter ended March 31, 2026, as the company’s sweeping fee structure overhaul delivered a sharp rise in revenue and operating profitability. Nairametrics reported that this is according to the abridged unaudited results […]

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