Business

The Securities and Exchange Commission (SEC) has released key details of the SEC/Nigerian Capital Market Institute (NCMI) Compliance Summit 2025, scheduled to hold from November 24–25 at the Lagos Oriental Hotel, with a strong emphasis on reforms to the Investments and Securities Act (ISA) and the integration of technology-driven compliance practices across Nigeria’s capital market. Positioned as a strategic continuation…

Nigeria’s external reserves have climbed to $46.7 billion, the highest level since 2018, driven by renewed investor confidence, improved oil receipts and stronger balance-of-payments inflows, the Central Bank of Nigeria said on Tuesday. CBN Governor, Olayemi Cardoso, represented by the Deputy Governor in charge of Economic Policy, Dr Muhammad Abdullahi, disclosed this in Abuja at the 20th Anniversary of the…

History was made in Lagos on Tuesday, as 13-year-old Ebunoluwa Seth Oluwatimilehin, of Igando Community Senior High School, Igando, a suburb of Lagos, emerged as the overall winner of 15th UBA Foundation National Essay Competition (NEC), thus becoming the youngest winner in the fifteen years of the competition. Master Ebunoluwa, a public school student of the school in SS2, also…

The Dangote Petroleum Refinery has said the recent downward adjustment in the pump price of Premium Motor Spirit (PMS) by oil marketers was triggered solely by its own decision to reduce petrol prices earlier this month, not by the temporary reversal of the 15per cent import tariff as widely speculated. In a statement on Monday, the refinery explained that its…

Zenith Bank Plc is poised to make its debut in East Africa through the acquisition of Kenya’s Paramount Bank, marking a strategic milestone in its pan-African growth agenda. The Nigerian banking giant is currently seeking regulatory approvals from both the Central Bank of Nigeria and the Central Bank of Kenya, with a targeted completion date of January 2026, according to…

Fidelity Bank Plc has posted 46 per cent growth in gross earnings, reaching N748.7 billion in the first half ended June 30, 2025. The bank’s H1 results released on the Nigerian Exchange demonstrated resilience and sustained growth across key performance indicators. Highlights of the financial results showed that the Bank gross earnings stood at N748.7 billion, up from N512.9 billion…

Paystack, the Stripe-owned Nigerian payments company, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following an allegation of sexual misconduct involving a subordinate. The controversy started on social media on Wednesday, after someone who once had a relationship with Olubi published personal complaints online. The post prompted renewed attention to disturbing tweets Olubi posted between 2009 and 2013,…

By Kunle Sanni – The National Council on Privatisation (NCP) has approved the Bureau of Public Enterprises’ (BPE) request to conclude engagements with Transcorp Power Consortium on the execution of the Performance Agreements (PAs) for the sale of Afam Power Plc and Afam III Fast Power Limited. The council said the move aims to regularise outstanding post-acquisition conditions and ensure…

Kuda has expanded its Kuda Business Centre to live directly on its POS terminals, transforming the devices from simple payment collectors into full business management tools. With the new Shop & Orders update, merchants can now view inventory, record sales, and manage orders directly on their Kuda POS without switching devices or relying on the Kuda Business app. The update…

Insecurity and erratic power supply have again emerged as the most critical obstacles facing Nigerian businesses, according to the Business Expectations Survey (BES) for October 2025 released by the Central Bank of Nigeria (CBN). The apex bank said firms across key sectors ranked insecurity highest at 71.8 points, followed closely by insufficient power supply (70.9), high or multiple taxes (70.2),…