Business

A leading estate development company, Jedo Investment Company Ltd, has gifted Super Falcons goalkeeper Chiamaka Nnadozie and Africa Player of the Year Ademola Lookman plots of land in Abuja. Each plot measures 400 square metres and is located within the Jedo Mega Estate in Ushafa, Abuja. In a letter signed by the company’s General Manager, Human and Business Relations, Anthony…

The Corporate Affairs Commission (CAC) has threatened to delist 100,000 companies from its register over prolonged inactivity and non-compliance with statutory requirements under the Companies and Allied Matters Act (CAMA). A public notice issued by the Commission said the affected companies have been identified as either not carrying on business, inactive for at least 10 years, or failing to meet…

The Nigerian equities market on Tuesday recorded a significant gain of N1.74 trillion, driven by strong corporate earnings reports during the earnings season. The All-Share Index rose by 2,746.36 points, representing a gain of 2.03 per cent, to close at 137,912.87 points. Similarly, the overall market capitalisation value gained N1.736 trillion to close at N87.191 trillion. On market outlook, Afrinvest…

Nigerian banks have resumed processing international tuition payments from Naira accounts through the Central Bank of Nigeria (CBN)’s Form A portal. Form A is an application form designed by the Central Bank of Nigeria to pay for service transactions (invisible trade). The form allows customers to purchase foreign exchange at the CBN or interbank rate to make payments for eligible…

Dangote Petroleum Refinery and Petrochemicals FZE, has notified the Federal High Court Abuja of its discontinuance of its N100 billion import license lawsuit against Nigerian National Petroleum Company Limited (NNPCL) and others. The notice of discontinuance dated July 28, 2025, was filed by the Refinery’s lawyer, George Ibrahim SAN, Nairametrics reports. “TAKE NOTICE that the Plaintiff(Dangote Refinery) herein discontinues this…

The federal government has directed banks and financial institutions to begin submitting monthly reports of high-value transactions to tax authorities. Under the new tax regulations, individuals whose transactions exceed ₦25 million and companies whose transactions exceed ₦100 million in a month must be flagged and reported. This directive is part of changes introduced in the amended Nigerian Tax Act, set…

The Nigerian equities market sustained its positive momentum to commence trading this week, as the overall market capitalisation advanced by N400 billion on investors surge demand for MTN Nigeria Communications Plc (MTNN) and 44 others. As a result, the All-Share Index rose by 713.58 points, representing a gain of 0.53 per cent to close at 135,166.51 points. Also, market capitalisation…

President/Chief Executive of the Dangote Group, Aliko Dangote, has hailed President Bola Ahmed Tinubu as a listening president whose policies are restoring private investors’ confidence in Nigeria’s economy. Dangote made the remarks over the weekend during a visit by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, to the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote…

The Securities and Exchange Commission (SEC) has disowned the purported Annual General Meeting (AGM) of The Tourist Company of Nigeria (TCN) Plc held on July 25, 2025, warning that any resolutions passed at the meeting are null and void. In a public notice issued on Monday, the Commission condemned recent actions by some majority shareholders of TCN, who allegedly convened…

The Federal Airports Authority of Nigeria (FAAN) has signed a landmark Memorandum of Understanding (MoU) with ATOM Training Services, a renowned aviation training institute based in Dubai, United Arab Emirates. The deal is part of efforts to enhance the skills and capacity of FAAN’s workforce. The MoU was signed on July 22, 2025, in Dubai by Dr. Luqman Emiola Olatunbosun,…