- National News
Tinubu asks US court to block release of records sought in drug investigation case
President Bola Tinubu has asked a United States federal court to block the release of records relating to past investigations involving allegations of drug trafficking and money laundering. Tinubu, through his lawyers, is challenging efforts by American transparency activist Aaron Greenspan to obtain the records from the US Department of Justice, Federal Bureau of Investigation and Drug Enforcement Administration. The…
Read More » - Economy
No oil revenues, strategic national assets pledged as collateral for $5bn First Abu Dhabi Bank loan, says DMO
The federal government through Debt Management Office (DMO) revealed that no oil revenues or strategic national assets were pledged as collateral for the $5 billion total return swap (TRS) facility with First Abu Dhabi Bank (FAB). The debt office, in a frequently asked questions document on the facility dated August 27, said the government only pledged naira-denominated bonds. The debt…
Read More » - Perspectives
Atiku Abubakar: Incongruous aristocrat that would never be President, by Kola Amzat
Nigerians could just imagine how dull, unexciting and uninteresting the nation’s political sphere would have been without the likes of Alhaji Atiku Abubakar and comedians like Peter Obi! As a matter of fact, we must acknowledge the fact that democratic governance is not only about the ruling government and their policies, as well as numerous exciting programs being rolled out…
Read More » - Business
Equities market appreciates by N305bn after FTSE Russell’s reclassification
The Nigerian equities market rebounded, ending an 11-day consecutive losing streak with a gain of N305 billion, following FTSE Russell’s confirmation of Nigeria’s reclassification from ‘Unclassified’ to Frontier Market status. The NGX All-Share Index advanced 0.20 per cent to close at 239,156.09 points, pushing the year-to-date return to 53.69 per cent. Similarly, market capitalization rose by N305 billion to close…
Read More » - Economy
T+1 settlement cycle: FTSE Russell to proceed with Nigeria’s reclassification to frontier market status
FTSE Russell to proceed with Nigeria’s reclassification to Frontier Market status Global index provider FTSE Russell is set to proceed with the reclassification of Nigeria from “Unclassified” to “Frontier Market” status. FTSE Russell is expected to formally announce the decision later this week, clearing the uncertainty surrounding Nigeria’s planned return to the Frontier Market category. The decision means Nigeria’s reclassification,…
Read More » - Economy
OPay plans listing on NGX, says report
OPay is planning to list its shares on the Nigerian Exchange (NGX), Nairametrics has learnt, in what could become one of the most significant technology listings in the history of Nigeria’s capital market. Sources familiar with the matter told Nairametrics that the fintech company is expected to formally announce plans for the NGX listing soon. The development comes as OPay…
Read More » - Business
Otedola acquires N12bn shares in First Holdco
Chairman of First HoldCo Plc, Femi Otedola has increased his stake in the financial services group after acquiring an additional 95.69 million shares worth N12.58 billion. The latest purchase, made through his investment vehicle, Calvados Global Services Limited, brings Otedola’s holding in First HoldCo to about 12.23 billion shares, representing approximately 26.6 percent of the company. According to an insider…
Read More » - Economy
DisCos supplied electricity worth N3.68trn in 2025, says NERC
Nigerian Electricity Regulatory Commission’s (NERC) has revealed that Nigeria’s Electricity Distribution Companies (DisCos) supplied electricity worth N3.68 trillion in 2025 but billed customers N2.99 trillion. NERC in its 2025 Annual Report revealed that DisCos left N669.49 billion in billed electricity charges uncollected from customers in 2025. According to the regulator, of the amount billed, only N2.32 trillion was collected, representing…
Read More » - Economy
Foreign reserves surge $7.09bn YtD to hit $52.66bn
Nigeria’s foreign reserves have grown by $7.09 billion since the beginning of 2026, reaching $52.66 billion as of August 19, according to latest figures from the Central Bank of Nigeria (CBN). The growth represents a 15.6per cent expansion in less than eight months, up from $45.57 billion recorded on January 2, 2026. This development strengthens the central bank’s external buffer,…
Read More » - Uncategorized
Nigeria’s equities market drops by 1.35% WoW
The benchmark NGX All-Share Index (ASI) declined by 1.35 per cent week-on-week (WoW) to close at 239,351.16 points, while market capitalisation fell by approximately N2.09 trillion to close the week at N154.534 trillion. Consequently, the market’s year-to-date (YTD) return moderated to 53.81 per cent. Market breadth remained negative, with 18 gainers against 58 losers. The negative breadth reflects cautious investor…
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