Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, are set to headline the 7th Africa Emerging Markets Forum, scheduled to take place in Abuja. The two prominent economic leaders will feature in a high-level fireside...
BUSINESS
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPCL) over its “failure to explain and account for ₦211 trillion in oil money recorded in its 2023 audited financial statements as ‘Sundry Receivables’ and ‘Accrued Expenses.’” NNPCL reportedly recorded over ₦211 trillion...
Tesla and SpaceX CEO Elon Musk has predicted that Artificial Intelligence (AI) and robotics will transform the global economy to the point where money may no longer matter by 2036, as advances in technology drive an unprecedented abundance of goods and services. Speaking during an interview with The Economist...
Benue Investment and Property Company (BIPC) has urged citrus farmers in the state to stop the indiscriminate movement and sale of oranges outside Benue, warning that the practice could undermine the state’s drive to industrialise its agricultural sector. The company’s Group Managing Director, Dr. Raymond Asemakaha, said in a...
Benue State has secured three oil and gas blocks in the 2025 Nigerian Upstream Licensing Round, opening a new chapter in the state’s long-standing quest to develop its hydrocarbon resources. The licensing round was conducted by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under the administration of President Bola...
Budget Office of the Federation has explained that it did not issue financial clearance to the Presidential Foreign Investment Promotion Council (PFIPC), saying the council failed to meet the regulatory conditions required for recruitment and expenditure. In a statement signed by its Director-General, Tanimu Yakubu, the Budget Office said...
Nigeria Revenue Service (NRS) has launched the Ideas Gateway Portal, a digital platform aimed at enabling taxpayers, businesses and other stakeholders to submit suggestions for improving Nigeria’s tax administration. The portal, accessible at ideasgateway.nrs.gov.ng, allows users to submit innovative proposals directly to the agency while tracking the progress of...
Chairman of the Benue State Board of Internal Revenue Service (BIRS), Joseph Kwaghgba, has clarified that the board’s constitutional responsibility is limited to generating revenue for the state through tax collection and does not include funding government agencies. Speaking with journalists in his office on Monday, Kwaghgba explained that...
Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has successfully completed a landmark Private Equity Placement that raised approximately US$2.5 billion in new equity, following a highly successful offering. The transaction, which is believed to be Africa’s largest publicly disclosed primary equity private placement, marks a significant milestone in the...
Nigerian Communications Commission (NCC) has called for deeper collaboration among African Telecommunications and Communications Regulators to strengthen the use of data, evidence and market intelligence in driving more effective and responsive regulation across the continent. Speaking at the Heads of Regulators Roundtable during the African Telecommunications Union (ATU) Conference...
The House of Representatives Committee on Federal Character has strongly condemned what it described as “the continued disregard for the constitutional authority of the National Assembly” by the Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji. The Committee also ordered the immediate suspension of recruitment by...
Central Bank of Nigeria (CBN) on Wednesday July 22 defended its monetary and foreign exchange reforms before the Senate, insisting that recent policy measures are yielding positive results despite concerns over inflation, bank lending and the apex bank’s financial operations. CBN Governor Olayemi Cardoso, accompanied by the four deputy...
Federal Government on Wednesday July 22 launched the YOUTHCRED for Entrepreneurs initiative, a nationwide credit programme aimed at providing affordable financing to young business owners and supporting 500,000 entrepreneurs across the country. The scheme, unveiled at the Federal Ministry of Finance Auditorium in Abuja by the Minister of Finance...
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Tuesday clarified that the ₦100 and ₦200 notes remain legal tender and have not been withdrawn from circulation. Speaking after the Monetary Policy Committee (MPC) meeting in Abuja, Cardoso said the apparent scarcity of lower-denomination notes was largely...
Central Bank of Nigeria (CBN) on Monday July 21 told the House of Representatives ad-hoc committee investigating the controversial Presidential Foreign Investment Promotion Council (PFIPC) that it opened two foreign currency accounts for the council based on a directive from the Office of the Accountant-General of the Federation (OAGF)....
Access Bank is set to host the maiden edition of its MSME Conferene on Friday, July 24, 2026, at its Head Office in Victoria Island, Lagos. The conference, themed “AI for SMEs: Scaling Through Digital Tools,” will bring together entrepreneurs, business leaders, policymakers, and technology experts to explore how...
Pan-African electric mobility company, Spiro, has secured a total of $270 million in fresh funding from a consortium of European, African and Chinese investors to accelerate the expansion of its electric vehicle and battery-swapping infrastructure across Africa. The company announced that it initially raised $215 million from institutional investors,...
Bank of Industry (BoI) has successfully secured €60 million in funding from the European Investment Bank (EIB) aimed at expanding Nigeria’s cocoa processing and dairy sectors. This initiative aligns with the Nigerian government’s strategic efforts to reduce reliance on exporting raw agricultural products and instead promote local value addition....
The Centre for Social Justice (CSJ) has criticised the N34 trillion customs duty waivers granted in 2025, alleging that the approvals did not comply with the provisions of the Fiscal Responsibility Act (FRA). In a statement issued by its Lead Director, Mr Eze Onyekpere, the civil society organisation said...
Federation Account Allocation Committee (FAAC) has distributed N2.55 trillion as revenue generated in June 2026 to the Federal Government, the 36 states and the 774 local government councils, marking a significant increase of N250 billion over the previous month’s allocation. The latest disbursement represents a 10.9 per cent rise...