Business

Air Peace has confirmed that a brand-new aircraft was damaged on the ground, resulting in widespread flight disruptions. According to a press statement signed by spokesperson Fred Chukwuelobe, the incident occurred when a ground handler’s conveyor belt struck the aircraft’s engine cover while passengers were already onboard. Passengers had to be deboarded, and nine scheduled sectors for the aircraft were…

United Nigeria Airlines and Max Air recorded the highest flight cancellation rates in Nigeria during the third quarter of 2025, according to data released by the Nigeria Civil Aviation Authority (NCAA), despite an overall improvement in domestic aviation performance. The NCAA’s Q3 2025 report, covering July to September and compared with the same period in 2024, showed United Nigeria Airlines…

Leading smartphone manufacturer Tecno Mobile has donated a modern astroturf stadium to Lagos State in collaboration with the Lagos State Sports Commission, reinforcing Governor Babajide Sanwo-Olu’s commitment to grassroots sports development and youth empowerment. The facility, named the Sanwo-Olu Mini Stadium by Tecno, was officially commissioned yesterday in the Lagos Island East Local Council Development Area (LCDA) amid celebrations and…

The Nigerian equities market has recorded its eighth consecutive positive performance on Monday as investors added N257 billion to their portfolios. The continued uptick was as a result of increased investor interest in stocks like Aluminium Extrusion Industries, International Energy Insurance, Mecure, Royal Exchange, Austinlaz ans 29 other advancing stocks. Specifically, the market capitalisation, which opened at N96.936 trillion, closed…

Nigeria’s foreign exchange (FX) reserves have recorded the first decline in 25 weeks, falling by $263.151 million (equivalent of N381.569 billion) to $45.21 billion as of December 17, 2025, according to new data from the Central Bank of Nigeria (CBN). The drop, which followed three consecutive days of outflows between December 15 and 17, marks a reversal of a long-running…

Association of Corporate Communication & Marketing Professionals in Banks (ACAMB) has refuted claims the Central Bank of Nigeria (CBN) will shut down 12 Nigerian banks come March 2026. The  President, ACAMB, Rasheed Bolarinwa  stated that the video, posted by one Olaoluwa Segun under the handle Olaoluwa_olas, was clearly produced with the intent to mislead the public, stoke unnecessary panic and…

Dangote Petroleum Refinery has commenced nationwide sales of Premium Motor Spirit (PMS) at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations. This move represents a significant milestone in the refinery’s mission to deliver affordable fuel to Nigerians and stabilize the downstream petroleum market. With over 2,000 MRS stations nationwide, the new pricing is…

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a $750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday, attended by Mr. Tony O. Elumelu, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank. The transaction represents one of the largest financings…

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced an investigation into allegations of corruption made by businessman Aliko Dangote against the immediate past Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed. As part of the process, the ICPC has invited Dangote to appear before its investigators or be represented…

Analysts at Cordros Securities project that the naira could close 2026 around N1,350, supported by positive fundamental developments expected throughout the year. This insight comes from their 2026 outlook report, “Building Momentum Beyond the Rebound,” which provides reviews of macroeconomic trends and market dynamics. According to the report, the naira is likely to trade within a N1,450–N1,350 range as distortions…