- Business
CBN, NCC propose audits of banks, telcos operators over airtime failures
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) are proposing regular joint audits of banks, telecom operators and other ecosystem players as part of a new national framework aimed at tackling persistent failures in airtime and data purchase transactions. The proposal is contained in an exposure draft jointly issued by the two regulators and dated February…
Read More » - Economy
36 states declare N36.98trn subnational budget approval for 2026
A report by Promad Foundation has revealed that Lagos State led other 35 States in the country for an estimated N36.98 trillion subnational budget approval for 2026 as against N25.58 trillion 2025. The report with title “2026 Nigeria subnational budget outlook”, stated that Nigeria’s subnational budget is rising in 2026. The combined total of N36.98trillion represents a 45 per cent…
Read More » - Business
2025FY: Ecobank declares 14% growth in total assets to N49.4trn
Ecobank Transnational Incorporated Plc (ETI) has declared its unaudited result and accounts for full year ended December 31, 2025 with total assets growth of 14 per cent to N49.4trillion, a milestone performance from N43.3 trillion posted in 2024. The Pan-African financial institution also saw its loans & advances to customers grew by 11 per cent to N17.09 trillion in 2025 from…
Read More » - Economy
Nigeria requires $22bn to expand gas pipeline network, says NNPCL
The Nigerian National Petroleum Company (NNPC) Limited has revealed that Nigeria will require about $22 billion in investment to expand gas pipeline infrastructure. NNPC announced the estimate in the ‘NNPC Gas Master Plan 2026’ report. “Current gas pipeline infrastructure in development plans could require up to $22 billion investment,” the report reads. On January 20, the NNPC unveiled its gas…
Read More » - Business
Transcorp Power declares 14% growth in profit to N91.42bn
Transcorp Power Plc has announced its audited financial results for the year ended December 31, 2025, recording a 14 per cent growth in profit to N91.42 billion as against N80.01 billion declared in 2024 financial year. Amid increases in profit, its Earnings per Share (EPS) increased from N10.67 in 2024 to N12.19 per share in 2025. The shareholders of the…
Read More » - Business
Alawuba advocates security, bankable projects, infrastructure development to promote South-East vision
The Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Oliver Alawuba, has called on leaders and key stakeholders in the South-East to prioritise security and peace, infrastructure development and the delivery of bankable, investment-ready projects. This, according to him, is critical if the South Eastern region of the country is to unlock its long-term development agenda under…
Read More » - Business
Nigerian equities market gains N1.27trn to sustain positive momentum
The Nigerian equities market on Thursday sustained positive optimism as improved buying interest across key sectors propelled the market to a four consecutive upward trend. The All Share Index (ASI) gained by 1,975.18 basis points or 1.18 per cent to close at 170,005.36 basis points. Accordingly, market capitalisation rose by N1.27 trillion to close at N109.129 trillion. The upturn was…
Read More » - Perspectives
While critics grumble about president’s foreign trips, FDIS roll in, by Kola Amzat
Despite lacking the necessary temperament, emotional intelligence, large heart and key leadership skills required to lead a diverse and very complex country like Nigeria, Peter Obi continually gets obsessed with developments within Aso Villa prescient, including the president’s daily itinerary, most especially, C-in-C’s foreign trips. It’s instructive to note that the former Anambra state governor was the first person to…
Read More » - Company Report
Lafarge Africa plans expansion in Ashaka, Sagamu cement plants
Lafarge Africa Plc has notified the Nigerian Exchange Limited and the investing public of its plan to expand its Ashakacem Plant in Gombe State and Sagamu Plant in Ogun State. Legal Director & Company Secretary, Mr. Adewunmi Alode in a signed statement stated that upon completion, Ashakacem and Sagamu Plants’ total capacity will be 2MT and 3.5MT per annum respectively. …
Read More » - Crime & City Diary
Former NEXIM Bank MD Robert Orya jailed 490 years over N2.4bn fraud
The Federal Capital Territory High Court has convicted Robert Orya, former Managing Director of the Nigerian Export-Import Bank (NEXIM), for fraud totaling about N2.4 billion. This was confirmed in a statement by the Economic and Financial Crimes Commission (EFCC) on February 5, 2026. The conviction highlights the ongoing efforts by authorities to hold senior executives accountable for financial crimes in…
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