A prosecution witness 2, PW2, Fasaki Olutayo Jacob in the ongoing trial of Okewole Dayo and Bishop Katung Jonas, on Thursday, October 16, 2025, narrated before Justice Sharon T. Ishaya of the Federal High Court, Jos, Plateau State, how he was allegedly defrauded of his hard-earned savings by the...
investment
President Bola Ahmed Tinubu has welcomed the news of Shell’s $2 billion Final Investment Decision (FID) on a new gas project in the shallow offshore HI Field, in OML 144. A statement issued by the presidential spokesman, Bayo Onanuga, said the new Non-Associated Gas (NAG) development project will deliver...
Renowned media entrepreneur Chude Jideonwo is putting real money behind African innovation. Through his Fourthmainland Fund, Jideonwo has announced a $10,000 pilot investment aimed at supporting one exceptional African creator leveraging Artificial Intelligence to shape culture, tell stories, or create groundbreaking art. “This is the first step,” said Jideonwo...
Nigerian Communications Commission (NCC) has reported that its shift to market-based pricing in the telecommunications sector has triggered over $1 billion in infrastructure investments in 2025. During a media briefing in Lagos on Friday, NCC’s Executive Vice-Chairman, Aminu Maida, revealed that the pricing policy, implemented in January and February...
By MBAFAN ADE, Abuja – The Industrial Training Fund (ITF), has dismissed media reports of alleged attempts to relocate its headquarters from Jos, the Plateau State capital. These reports stem from a Matter of Urgent Public Importance raised during a recent plenary session of the Plateau State House of...
By Amos Mathew, Kaduna Managing Director of PremiumTrust Bank, Mr Emmanuel Emefienim, has commended Governor Uba Sani for his visionary leadership and an unwavering commitment to peace, unity, and progress. Mr Emefienim, who made this known at the opening of the Kaduna Branch of the Bank which doubles as...
Nigerian stock market commenced the week on a bullish note, with investors’ gains totaling N340 billion. This upward trend follows the previous week’s five-day surge. Market capitalization jumped by 0.43% to N80.143 trillion, while the All-Share Index rose by 539.95 points to 126,689.54. Some stocks driving the market’s growth...
Nigerian stock market has recorded a significant gain of N1.077 trillion in a bullish week, driven by increased investor demand for banking stocks. The market capitalization rose by 1.37% to close at N79.803 trillion, while the All-Share Index (ASI) increased by 1,702.79 points or 1.37% to settle at 126,149.59....
By JOY ADARA, Abuja- Economic and Financial Crimes Commission (EFCC) on Monday, July 7, 2025 arraigned Awerusuo Otorudo and Chukwuebuka Ehirim before Justice Muhammed Umar of the Federal High Court sitting in Abuja. They were arraigned on a three-count amended charge bordering on obtaining by false pretence, inducement and...
Organisation of Petroleum Exporting Countries (OPEC) has warned that a staggering $17.4 trillion in global upstream investment is required by 2030 to avoid a massive oil market deficit of 23 million barrels per day (bpd). OPEC Secretary-General, Haitham Al Ghais, made this disclosure at the 24th Nigeria Oil and...
By DAVID IORJA, Abuja- President Bola Tinubu has called on the Organisation of Eastern Caribbean States (OECS) to take advantage of Nigeria’s vast market and invest in the country. President Tinubu made the call on Monday while addressing a special joint session of the Senate and House of Assembly...
By JOHN ONAH, Abuja – Kogi State Government has begun discussions with the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) to foster a strategic partnership aimed at enhancing agribusiness and attracting global investment in agriculture and food security sector in the state. This was disclosed by the...
By MBAFAN ADE, Abuja- The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced significant progress in attracting investments in Nigeria’s upstream oil and gas sector, as showcased at the recent Nigeria-China Sustainable Bilateral Business, Trade, and Investment Summit, which held in Lagos during the week. This landmark event brought...
Nigerian stock market rebounded on Wednesday after a two-day loss, with investors gaining N1.184 trillion. The market capitalisation rose by N1.184 trillion, or 1.63%, to close at N73.681 trillion. The All-Share Index (ASI) also rose by 1,876.71 points, or 1.63%, settling at 116,786.87. According to the market report, “This...
By MBAFAN ADE, Abuja- The Securities and Exchange Commission (SEC) has reiterated that Crypto Bridge Exchange (CBEX), operating under ST Technologies International Ltd., remains banned in Nigeria. In a public notice, the commission warned Nigerians to refrain from patronizing or transacting with CBEX, citing unauthorized investment activities. “We unequivocally...
By EMMANUEL KUJE, Abuja- The Economic and Financial Crimes Commission (EFCC) has filed a three-count charge against Avwerosuo Otorudo and Chukwuebuka Ehirim, promoters of Crypto Bridge Exchange (CBEX), over alleged investment fraud totaling over $1 billion. The EFCC accuses the duo of: Operating an unregistered company and administering a...
Federal High Court in Abuja has ordered the remand of Mr. Jesam Michael, CEO of Afriq Arbitrage System (AAS) Limited, in Kuje Correctional Centre over alleged investment fraud. Justice Obiora Egwuatu refused Michael’s bail plea, citing the gravity of the offence and weight of evidence against him. The Economic...
Stock market began the week on a positive note on Monday as investors gained N173 billion and performance indices soared by 0.25per cent. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation climbed by N173 billion, rising to N70.635 trillion from N70.462 trillion on Friday. The All-Share Index also increased...
The Presidential Compressed Natural Gas Initiative (P-CNGI) has said the CNG sector has attracted over 500 million dollars investments and created over 10,000 direct jobs. The P-CNGI said that 255 new conversion centers that did not exist in 2024 and 53 daughter stations existed currently. Programme Director/Chief Executive Officer,...
The stock market on Friday closed the week on a bearish note, as key performance indicators dipped by 0.07 per cent. Specifically, the market capitalisation declined by N48 billion, or 0.07 per cent, to N70.462 trillion from N70.510 trillion recorded on Thursday. The All-Share Index also dropped by 0.07...