Business

 The minister of power, Adebayo Adelabu says the federal government is securing about $2.3 billion investment to revamp power transmission in Nigeria. Adelabu spoke during a meeting with Gautier Mignot, the European Union (EU) ambassador to Nigeria, in Abuja on Saturday. He said the intervention is one of the viable improvements since the new administration came into power. “Number one,…

The Central Bank of Nigeria (CBN) has reported high loan default rates among Large Private Non-Financial Corporations (PNFCs) and Other Financial Corporations (OFCs), raising fresh concerns about credit risk at the upper end of the lending market. This is according to the apex bank’s Credit Conditions Survey Report for the first quarter of 2025. Despite overall improvements in loan performance…

Access Bank Plc said it has secured approvals from the Central Bank of Kenya (CBK) and Kenya’s National Treasury and Economic Planning for the acquisition of 100per cent shareholding of the National Bank of Kenya (NBK). The bannking subsidiary of a Nigeria’s Access Holdings Plc stated that it is acquiring NBK through the purchase of NBK shares from KCB Group…

Seplat Energy Plc, leading Nigerian independent energy Company has restated its commitments to energy sustainability as it impacts people, environment and corporate governance, stressing that its focus is long-term with dividends accruable beyond today. The Chief Operating Officer, Seplat Energy, Mr. Samson Ezugworie, stated this at the Society of Petroleum Engineers (SPE) Nigeria Council 2025 Oloibiri Lecture Series and Energy…

The newly enacted Investments and Securities Act, 2025 (ISA 2025) has made it illegal to operate digital asset exchanges or online foreign exchange trading platforms without formal registration with the Securities and Exchange Commission (SEC). Signed into law by President Bola Ahmed Tinubu, ISA 2025 significantly strengthens the regulatory framework governing Nigeria’s capital market, with a particular focus on digital…

United Bank for Africa (UBA) Plc, has unveiled its vastly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empowering small and Medium Scale Enterprises across Africa. The upgraded platforms form part of the bank’s ongoing campaign with the theme: Innovation for Progress: Empowering SMEs, Connecting Communities, Simplifying Banking.…

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, on Friday received the Executive Vice President, Finance, Administration and Banking Services at Afreximbank, Denys Denya in Abuja to strengthened collaboration.   The meeting focused on strengthening collaboration with key stakeholders in support of NNPC Ltd.’s ongoing transformation journey, an effort the GCEO described as “incredible.” He…

…as agency dominates 2025 NIGAV Awards The Managing Director and CEO of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, has been honoured with the prestigious Aviation CEO of the Year award at the 2025 Nigeria Aviation Awards (NIGAV). Kuku’s recognition comes as a testament to her outstanding performance and transformative leadership since assuming office at FAAN. Her…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared the country’s official petroleum reserves position, revealing a staggering 37.28 billion barrels of crude oil and condensate alongside an eye-popping 210.54 trillion cubic feet of natural gas. NUPRC in a statement titled “The Declaration of Annual National Petroleum Reserves Position as of 1st January 2025”, issued by the Chief Executive, NUPRC,…

Over ₦3.4 trillion in financial infractions were uncovered across federal Ministries, Departments, and Agencies (MDAs) in 2021, according to the Auditor General’s report — a staggering figure that highlights Nigeria’s deepening compliance crisis and the urgent need for stronger oversight in public institutions. In response, the Senate Committee on Legislative Compliance is hosting a high-level workshop to address the root…