Tag: Business

Key Takeaways OPay has commenced legal action against individuals accused of circulating a fake announcement claiming the fintech company would shut down operations in Nigeria from September 1, 2026. The company said it had also alerted relevant regulatory and security agencies, stressing that its services remain fully operational and that it has no plans to […]

The Federal Government has described the Dangote Petroleum Refinery and Petrochemicals complex as a cornerstone of Nigeria’s ambition to build a $1 trillion economy, pledging stronger collaboration with the private sector to accelerate industrialisation, job creation and economic transformation. The Minister of State for Industry, John Owan Enoh, made the declaration yesterday after leading a […]

Nigeria’s net foreign liability position increased by $7.5 billion to $90.2 billion in 2025 as foreign investors’ claims on Nigerian assets grew faster than the country’s investments abroad, according to the Central Bank of Nigeria (CBN). The increase reflects stronger foreign portfolio and direct investment liabilities, partially offset by growth in Nigeria’s external reserves and […]

Nigeria’s banking sector recapitalisation will only achieve its intended purpose if the stronger capital base translates into tangible improvements in customers’ everyday banking experiences, the Chief Executive Officer of Enhancing Financial Innovation and Access (EFInA), Foyinsola Akinjayeju, has said. Speaking on CNBC, Akinjayeju stressed that the true measure of the recapitalisation exercise should not be […]

Global oil prices fell sharply on Tuesday as renewed peace talks between the United States and Iran eased concerns over prolonged supply disruptions in the Middle East, pushing Brent crude below $84 per barrel after trading above $100 last week. According to data from Oilprice.com, Brent crude, the global benchmark, declined from around $87 per […]

SustyVibes, a youth-led organisation committed to making sustainability and climate action more accessible to young Africans, has appointed Svetlana Onye as its Interim Executive Director as the organisation embarks on a new phase of growth and expansion. The organisation announced in a statement that Onye’s appointment took effect on July 1, 2026, coinciding with the […]

Chocolate City Group has launched the inaugural edition of its Founders Fund Africa Creative Economy Accelerator Programme, offering funding of between $20,000 and $50,000 to selected startups across Africa’s creative industries. According to the company, the initiative is targeted at founders operating in music, film and media, design, and creative technology, and is designed to […]

NBET Finance Company Plc, Lagos State Government, Access Bank Plc and UAC of Nigeria Plc emerged as the biggest bond borrowers in Nigeria during the first half of 2026, as companies and public sector issuers turned to the debt market to raise long-term funding despite elevated borrowing costs. An analysis of bond and commercial paper […]