Business

AVA Capital to list on NGX by introduction

  • 29th July 2026

S&P Global to acquire majority stake in Africa’s

  • 29th July 2026

Lasaco Assurance raises ₦19.3bn in rights issue

  • 28th July 2026

United Capital posts ₦24.8bn pre-tax profit in H1

  • 28th July 2026

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LCCI warns Nigeria may lose tech hub status to

Opinion

Customs agents threaten protest over alleged ship manifest manipulation

Maritime

AVA Capital to list on NGX by introduction Friday

Business

Court voids Reps’ ₦72.624bn oil spill order against Seplat

Policy and Regulations

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CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Business

CBN allots N829bn in treasury bills amid strong investor appetite

The Central Bank of Nigeria sold a total of N829.32 billion worth of Treasury Bills at its Primary Market Auction held on Tuesday, May 20, 2026, with the 364-day instrument attracting the largest share of allotments. Auction results obtained by Nairametrics on Wednesday showed that investor demand remained strong, as total subscriptions surged to about […]

Anthropic counters OpenAI with $1 AI offer to government branches
Tech

Anthropic to pay SpaceX $45b for AI computing resources

Anthropic has agreed to pay Elon Musk’s SpaceX nearly $45 billion over the next three years for computing resources, under an expanded arrangement supporting its Claude artificial intelligence system, according to a securities filing. The AI company is expected to pay SpaceX around $1.25 billion per month through May 2029, with capacity gradually ramping up […]

Tesla’s profits crash as sales slump, trade tensions loom
Tech

Tesla sold nearly $890m in EVs, batteries to SpaceX

Tesla has generated about $890 million in revenue from deals with SpaceX and xAI since 2023, highlighting the growing financial links across Elon Musk’s business empire. In a regulatory filing released Wednesday, SpaceX disclosed that it purchased roughly $131 million worth of Tesla Cybertrucks in 2025, confirming an earlier Bloomberg report. Most of the transactions […]

Why Nigerian insurance is one of the lowest globally - CPPE
Business

CPPE backs CBN’s decision to hold Interest rates steady

The Centre for the Promotion of Private Enterprise has supported the Central Bank of Nigeria’s decision to keep all major monetary policy rates unchanged at the 305th Monetary Policy Committee meeting. In a policy brief, CPPE described the move as pragmatic, saying it reflects a more balanced assessment of Nigeria’s inflation trends. The committee left […]

SpaceX’s starship spirals out of control in test flight
Tech

SpaceX reveals IPO plans, unveils first-ever financial performance

SpaceX has unveiled plans to go public in the United States, releasing its investor prospectus on Wednesday and disclosing financial details for the first time. Elon Musk’s rocket and satellite company is set to list on the Nasdaq under the ticker “SPCX” at an estimated valuation of about $1.75 trillion, with a potential listing date […]

Nvidia to become world's most valuable company
Tech

Nvidia concedes China AI chip market to Huawei

Nvidia CEO Jensen Huang has said the company has “largely conceded” China’s artificial intelligence chip market to Huawei, as ongoing United States export restrictions continue to reshape the global semiconductor and AI hardware landscape. Huang’s remarks came as Nvidia posted another strong quarter, with revenue jumping 85 per cent to $81.62 billion from $44.06 billion […]

featured

I sold Geregu stake to invest in Dangote IPO – Otedola

Billionaire businessman and philanthropist Femi Otedola has indicated plans to invest $100 million in the forthcoming Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals. He disclosed this during a visit on Wednesday, when he led the board and senior executives of First Holdco Plc and its subsidiaries to inspect the refinery complex in Ibeju-Lekki, […]

Business

Oil firms in free zones must comply with PIA – NMDPRA

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has stated that oil and gas companies operating within free trade zones, export processing zones, and other designated special areas in Nigeria are still fully bound by the provisions of the Petroleum Industry Act 2021, as well as all regulations made under it. The regulator made the […]

Private sector laments loan repayment as interest rate hits 26.26%
Business

Nigeria prepared for external inflation shocks – Cardoso

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that Nigeria now has adequate economic buffers to absorb inflationary pressures triggered by the ongoing conflict in the Middle East. Speaking in Abuja on Tuesday after the 305th Monetary Policy Committee meeting, Cardoso explained that the recent uptick in inflation was largely driven […]

featured

DisCos warn Lagos against scrapping electricity band classification

Electricity distribution companies have criticised the Lagos State Government’s proposed move to eliminate electricity customer band classifications, warning that implementing the policy too soon could spark consumer backlash, deepen market inefficiencies, and increase the risk of power outages. Speaking anonymously because of the sensitivity of the issue, officials of the distribution firms described the state […]

Tech

Google DeepMind enters formal discussions with UK staff amid union push

Google DeepMind has agreed to begin formal discussions with United Kingdom tech workers that could pave the way for trade union representation, amid rising employee concerns over the use of its artificial intelligence technology by the US and Israeli governments for defence and intelligence purposes. In a landmark development, the AI division of the company, […]

Scams

31 suspected scammers, romance fraudsters arrested in UK-Nigeria raids

Dozens of suspected scammers and romance fraudsters have been arrested after specialist financial investigators uncovered organised networks of criminals operating across the United Kingdom and Nigeria. In just one of a series of raids this month, police detained a man suspected of selling personal banking information online and enabling fraud through money laundering. Two Rolex […]

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