Business

The Central Bank of Nigeria has reduced the stop rate on its 364-day Treasury bill to 17.15 per cent, even as investors submitted bids worth ₦3.63tn for the instrument at its latest primary market auction. The strong demand for the one-year bill accounted for 95.9 per cent of the ₦3.79tn total bids received across the […]

The Dangote Petroleum Refinery has raised concerns over the growing volume of imported petrol entering Nigeria, warning that it could be forced to export more of its own production if the trend continues. The refinery said imported Premium Motor Spirit (PMS) made up roughly 43 per cent of the petrol supplied to the Nigerian market […]

There are companies that enter an industry, compete within it and eventually become successful. Then there are companies whose presence changes the way an industry—and sometimes an entire society—imagines what is possible. At 23, Globacom belongs firmly in the second category. Founded in August 2003 by Dr. Mike Adenuga Jr., GCON, Globacom entered Nigeria’s telecommunications […]

The Bonga Southwest/Aparo (BSWAp) deepwater project has moved a major step closer to Final Investment Decision (FID) following the signing of new contractual agreements between the Nigerian National Petroleum Company Limited (NNPC Ltd) and the project’s contractor partners. The parties executed addenda to the OML 118 Production Sharing Contract (PSC) and the Dispute Settlement Agreement […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned the 31 companies that emerged successful in the 2025 oil and gas licensing round to pay their required signature bonuses within the statutory timeframe or risk losing their provisional awards. The warning comes one month after the commission conducted the commercial bid conference in Abuja, where […]

Dangote Transport has launched a real-time monitoring system designed to improve the safety of truck drivers and other road users by identifying dangerous driving behaviour before it results in an accident. The system, which operates from the company’s transport control centre in Ibese, Ogun State, enables personnel to monitor truck journeys remotely and receive alerts […]

A young lady has gone viral after UBA Group Chairman, Tony Elumelu, corrected her for addressing him by his first name during an interactive session at the bank’s Graduate Management Accelerated Programme (GMAP) graduation ceremony on Thursday. In the viral video, the woman was heard saying, “Good morning, Tony,” while addressing the businessman. Elumelu initially […]

Dangote Petroleum Refinery & Petrochemicals FZE has secured a $1 billion capital-markets backing from Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group as it prepares for a potential initial public offering. The programme consists of a $600 million private placement that has already been completed and funded, alongside a $400 million underwriting commitment […]

The Bank of Industry Limited (BOI) has secured strong investor demand for its ₦250 billion Series 1 Fixed Rate Bond, with the offer oversubscribed within five working days. The bond was issued through BOI Financing SPV Plc under the bank’s $1 billion Multi-Currency Instruments Programme and is expected to strengthen the institution’s capacity to provide […]

Twenty-four companies now account for nearly three-quarters of the total value of Nigeria’s equities market, highlighting the growing concentration of market wealth among a relatively small group of large-cap stocks. As of August 17, 2026, the companies had a combined market capitalisation of N117.01 trillion, representing 74.8 per cent of the Nigerian Exchange Limited (NGX) […]

Nigeria’s Securities and Exchange Commission (SEC) has introduced stricter measures aimed at preventing money laundering, terrorism financing and other illicit financial activities within the country’s capital market. Under the new directive, capital market operators are required to cut financial relationships with institutions connected to North Korea and reject transactions involving Iranian financial institutions. The measures […]

The Securities and Exchange Commission (SEC) has ordered capital market operators in Nigeria to immediately freeze the funds, assets and economic resources of six individuals and three companies designated by the Nigeria Sanctions Committee as terrorist financiers. The directive was contained in a circular issued to all Capital Market Regulated Entities (CMREs) on Friday, in […]