Business

By Kunle Sanni – The Federal Government of Nigeria has pledged continued support for aviation safety and regional collaboration as the Banjul Accord Group Aviation Safety Oversight Organisation (BAGASOO) marks its 15th anniversary with its inaugural Safety Conference in Abuja. The two-day event, which began on June 30 at the Transcorp Hilton Hotel, brought together aviation regulators, safety experts, and…

The Federal High Court in Abuja on Monday, has refused the bail applications of three promoters of the now-collapsed and fraudulent cryptocurrency investment scheme known as “CBEX” following their detention in connection with an alleged $1 billion scam targeting Nigerian victims. Justice Emeka Nwite rejected the bail application in a ruling on Monday. The legal team for the three suspects,…

By Kunle Sanni – The federal government has directed the Financial Reporting Council (FRC) to impose an interim cap of ₦25 million on annual dues payable by private sector Public Interest Entities (PIEs), aligning with the dues already set for publicly listed companies. The Federal Ministry of Industry, Trade and Investment, led by Minister Dr. Jumoke Oduwole, announced the decision…

Statesmen and business leaders from across Africa and the Caribbean converged on the Transcorp Hilton, Abuja, for the 32nd Annual General Meeting of the African Export-Import Bank (Afreximbank). Prominent leaders in attendance included former Presidents Olusegun Obasanjo (Nigeria), Macky Sall (Senegal), Mahamadou Issoufou (Niger), and Nana Akufo-Addo (Ghana). Africa’s richest man, Aliko Dangote, UBA Chairman Tony Elumelu, and former Senate…

Billionaire businessman Femi Otedola has expressed renewed confidence in Nigeria’s economy, declaring his intention to increase investments following the signing of the new Tax Reform Act by President Bola Tinubu. Otedola described the new laws as a bold and necessary step toward creating a more transparent, efficient, and investor-friendly economy. He said the reforms would simplify taxation, promote fairness, and…

Central Bank of Nigeria’s (CBN)  has revealed that Nigeria’s Foreign direct investment (FDI) inflows into Nigeria dropped by 19per cent to $250 million in first quarter (Q1) 2025, compared to $310 million in the fourth quarter of 2024. The CBN in its latest Balance of Payments report, said “FDI inflows declined slightly to $0.25 billion in Q1 2025, from $0.31 billion in Q4 2024.” While the figure marks a quarter-on-quarter contraction, it represents…

The Nigerian National Petroleum Company Limited (NNPC Ltd) on Friday said it has uncovered an emerging coordinated sabotage campaign being waged by a syndicate of known and faceless actors, both outside and within various levels of the organisation. The company in a public notice signed by its management said this group is actively spreading lies and misinformation simply to discredit…

The President/ Chief Executive of the Dangote Group, Aliko Dangote, has reaffirmed that the Group will soon list the Dangote Fertiliser Limited on the Nigerian Exchange (NGX), with the aim of revolutionising the capital market.  He disclosed this during a courtesy visit to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited by capital market stakeholders. He assured shareholders…

The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has commended the Nigeria Customs Service (NCS) for its significant progress in customs modernisation and trade facilitation. She gave the commendation during the opening of the 145th/146th Sessions of the Customs Co-operation Council held on Thursday, June 26, 2025, at the World Customs Organisation (WCO) Headquarters in Brussels. Delivering…

Investors rally in 63 equities on Wednesday pushed the Nigerian Exchange Limited (NGX) market capitalisation to N76.76 trillion as local market sustained its positive momentum. As of the close of trading on Wednesday, the market capitalisation gained N1.19 trillion to close at N76.761 trillion from N75.576 trillion it opened for trading. The stock price of BUA Cement that gained 8.7per…