Business

Media and communications firm, Metro Digital Limited, is facing trial before Justice A.T. Mohammed of the Federal High Court in Port Harcourt, Rivers State, over alleged unlawful interception and rebroadcast of Multichoice Nigeria Limited content. The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned the company on an amended four-count charge bordering on cybercrime and illegal rebroadcast of protected…

The Nigerian equities market staged a rebound, with the overall capitalisation gaining N629 billion. The All Share Index (ASI) gained by 979.36 points or 0.41 per cent to close at 242,729.51 points. Accordingly, market capitalisation rose by N629 billion to close at N155.781 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are;…

Access Holdings Plc says it will reduce its equity stakes in some of its foreign banking subsidiaries to comply with a new regulatory limit set by the Central Bank of Nigeria (CBN). The chief executive officer (CEO) of Access Bank, Roosevelt Ogbonna spoke on the plan during an investor call in Lagos on Tuesday, according to a report by Bloomberg.…

United Bank for Africa (UBA), Redtech, and MoMo PSB have launched a payment interoperability partnership that expands cardless payment access for consumers and merchants across Nigeria. Redtech is backed by Heirs Holdings; MoMo PSB is MTN Nigeria’s fintech subsidiary. With this development, MoMo PSB customers can now make payments directly from their MoMo wallets at participating UBA merchant locations using…

Members of the House of Representatives have urged the Federal Government to take urgent steps to address the rising cost of aviation fuel, warning that the trend is placing severe strain on Nigeria’s aviation industry. The call followed a resolution reached during Tuesday’s plenary at the National Assembly in Abuja. Moving the motion, a member of the House, Abdullahi Idris…

Zenith Bank Plc has appointed Mustafa Bello as its new Group Chairman as the bank’s founder and former Group Chairman, Jim Ovia, retires. The bank disclosed the leadership transition in a statement signed by its secretary, Michael Otu, on Tuesday, extolling Mr Ovia’s leadership and achievements in the previous years. According to Zenith Bank, Mr Ovia’s retirement is in line…

Billionaire businessman Femi Otedola has refuted claims that he requested a special allocation from Aliko Dangote in the planned initial public offering (IPO) of the Dangote refinery. Otedola stated this in a social media post shared on his X account on May 4, 2026. His response comes amid growing misinformation targeting Nigeria’s private sector leaders, including a viral claim alleging…

The Dangote Group says its aggressive expansion across Nigeria and other parts of Africa is increasingly positioning the conglomerate as a major driver of employment and industrial growth on the continent. The company made this known in a statement issued by its corporate affairs unit and shared with journalists in Lokoja, where it outlined how ongoing investments are reshaping its…

Governor Umo Eno of Akwa Ibom State has announced the commencement of international flight operations between Uyo and Accra, describing the development as a significant milestone for economic growth and regional connectivity. The governor disclosed this on Sunday after returning from the inaugural flight, noting that the new route is expected to boost tourism, trade, and investment opportunities in the…

The National Information Technology Development Agency (NITDA) has entered into a strategic partnership with Galaxy Backbone Limited (GBB), Nigeria’s foremost ICT infrastructure and shared services provider, to deliver subsidised sovereign cloud services to startups participating in the iHatch programme. The collaboration marks a significant step in Nigeria’s digital transformation, with a strong focus on data sovereignty, digital inclusion, and the…