Business Archives - Page 17 of 20

EFCC Exposes Banks, Fintechs in N162bn Crypto Flows, N18.7bn Scam

January 23, 2026

The Economic and Financial Crimes Commission (EFCC) has alleged that a new-generation bank, multiple fintech companies and microfinance banks enabled the flow of N162 billion in cryptocurrency transactions and N18.7 billion in scam-linked proceeds through Nigeria’s financial system without performing required checks, the Commission said on Thursday, January 22, 2026. The disclosure came during a...

Nigerian Shippers Reject Port Fees Hike, Warn of Inflation Risk

January 23, 2026

The National Shippers Association of Nigeria has rejected the recent increase in port service charges approved by the Nigerian Shippers’ Council, warning that the move could raise trade costs and worsen inflationary pressures across the economy. The association raised concerns following a maritime stakeholders’ meeting, arguing that the tariff adjustments were introduced without proper consultation...

States Hosting IDPs Eye $12m World Bank Loan Under New Displacement Project

January 21, 2026

Several Nigerian states hosting internally displaced persons (IDPs) are positioned to receive up to $12 million from a World Bank‑supported loan if they fulfil a series of data, governance and integration benchmarks, under a federal programme designed to support IDPs and host communities, a development document shows. The funding stems from the Solutions for the...

Nigerians Spend N1.54tn on Beer and Other Drinks in Nine Months

January 21, 2026

Consumers in Nigeria spent an estimated N1.54 trillion on beer and other beverages in the first nine months of 2025, according to an analysis of unaudited financial statements from major listed brewing companies, showing strong demand in the beverage sector despite broader economic challenges. The combined revenue figure reflects the sales performance of Nigerian Breweries...

Trader Says Lagos Computer Village Fire Destroyed N150m in Goods

January 21, 2026

A midnight fire in Computer Village, Ikeja, Lagos State, destroyed goods valued at more than N150 million, a trader whose stock was lost has said, raising fresh concerns about market fire safety and emergency response in the commercial hub. The incident occurred at around 2:00 a.m. on Tuesday, January 20, 2026, when traders had closed...

FG Sets Strategy to Reduce Borrowing, Boost Investment at Davos Forum

January 21, 2026

The Federal Government of Nigeria has outlined a fiscal strategy aimed at reducing reliance on external borrowing and expanding domestic investment, Finance Minister and Coordinating Minister of the Economy Wale Edun said at the ongoing 56th World Economic Forum (WEF) in Davos, Switzerland on Tuesday, January 20, 2026. His remarks emphasised a shift toward domestic...

IMF Upgrades Nigeria’s 2026 Growth Outlook to 4.4 Percent

January 19, 2026

The International Monetary Fund (IMF) has revised Nigeria’s economic growth projection for 2026 upward to 4.4 percent, signalling strengthened prospects for the country’s economy. The revision was disclosed in the IMF’s January 2026 World Economic Outlook (WEO) Update, titled Global Economy: Steady amid Divergent Forces. According to the IMF, Nigeria’s economy is expected to maintain...

Daily Lives of Agege Market Traders Reflect Resilience Amid Challenges

January 19, 2026

Agege Market, a major commercial hub in Lagos State, remains central to the daily lives and economic survival of thousands of traders, who navigate challenges and opportunities from dawn till dusk. Located near Pen Cinema in the Agege Local Government Area, the market serves as both a workplace and community centre for families across the...

Electricity Sector Debt Climbs 62.5%, Jeopardising FG’s N1.2trn Bond Plan

January 19, 2026

The Federal Government’s strategy to strengthen liquidity in the power sector through the issuance of a N1.23 trillion Power Sector Bond faces heightened risk as electricity sector debt rose 62.5% to N6.5 trillion by the end of 2025, up from N4 trillion at the beginning of the year. Industry data shows that the surge in...

Omotosho Takes the Wheel as New CEO of MultiChoice Nigeria

January 18, 2026

MultiChoice Nigeria has appointed Kemi Omotosho as its new Chief Executive Officer (CEO), marking a major leadership change at one of Nigeria’s most visible media businesses, the company said in a statement on Tuesday, January 13, 2026. The move comes as John Ugbe, the outgoing CEO, retires after nearly 15 years at the helm. Omotosho’s...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

June 3, 2026

An ISWAP commander killed during ongoing military operations in Nigeria’s North-East was among at least 50 terrorists neutralised by troops of Operation Hadin Kai, according to military authorities. The operation, which targeted Islamic State West Africa Province (ISWAP) fighters and other insurgents, was carried out as part of intensified efforts to dismantle terrorist networks operating...

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

June 2, 2026

Teachers in Enugu State on Tuesday joined a nationwide solidarity rally organised by the Nigeria Union of Teachers (NUT), marching to the Government House in Enugu to demand the immediate release of abducted Oyo pupils and their teachers. The demonstration followed a directive from the national leadership of the union after the abduction of dozens...

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

June 2, 2026

The Oyo lawmakers defection trend gained momentum on Tuesday as six members of the House of Representatives from Oyo State formally left the Peoples Democratic Party (PDP) for the Allied Peoples Movement (APM). The lawmakers announced their departure during plenary at the House of Representatives, citing the prolonged internal crisis and leadership disputes within the...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

Tinubu Re-Election Project Is My Number One Priority, Oborevwori Declares

Latest News

EFCC Exposes Banks, Fintechs in N162bn Crypto Flows, N18.7bn Scam

Nigerian Shippers Reject Port Fees Hike, Warn of Inflation Risk

States Hosting IDPs Eye $12m World Bank Loan Under New Displacement Project

Nigerians Spend N1.54tn on Beer and Other Drinks in Nine Months

Trader Says Lagos Computer Village Fire Destroyed N150m in Goods

FG Sets Strategy to Reduce Borrowing, Boost Investment at Davos Forum

IMF Upgrades Nigeria’s 2026 Growth Outlook to 4.4 Percent

Daily Lives of Agege Market Traders Reflect Resilience Amid Challenges

Electricity Sector Debt Climbs 62.5%, Jeopardising FG’s N1.2trn Bond Plan

Omotosho Takes the Wheel as New CEO of MultiChoice Nigeria

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

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