Business

The Central Bank of Nigeria (CBN) has reinforced its ongoing reforms of the Bureau de Change (BDC) sector by organising a two-day capacity-building programme for newly licensed operators, aimed at promoting transparency, professionalism, and compliance in the foreign exchange market. According to the apex bank’s June 2026 bulletin, the training was coordinated by the Financial […]

Africa’s richest businessman, Aliko Dangote, has selected Kenya’s coastal town of Lamu as the location for a proposed 700,000-barrel-per-day (bpd) oil refinery, ending months of speculation over where the landmark investment would be built. Edwin Devakumar, Vice President for Oil and Gas at Dangote Industries Limited, confirmed on Tuesday that the refinery will be constructed […]Read More

President Bola Ahmed Tinubu has called on the African Export-Import Bank (Afreximbank) to take a leading role in mobilising financial resources needed to accelerate Africa’s industrialisation, urging the institution to support initiatives that promote value addition, manufacturing, and economic integration across the continent. The President made the appeal on Tuesday during a meeting with a […]

Celebrating an African Institution: My Farewell from UBA Why create an institution? To ensure that an institution can live long, grow ever stronger and deliver a vision. I have never been able to look at Africa and see only borders. Where many see fifty-four separate markets, I saw one continent, one destiny — waiting to […]

Celebrating an African Institution: My Farewell from UBA Why create an institution? To ensure that an institution can live long, grow ever stronger and deliver a vision. I have never been able to look at Africa and see only borders. Where many see fifty-four separate markets, I saw one continent, one destiny — waiting to […]

Dangote Cement Plc has unveiled a new sustainability scorecard targeting a 20 per cent reduction in net carbon dioxide (CO₂) emissions intensity and an expansion of installed capacity to 80 million tonnes per annum by 2030. Presenting the company’s 2025 Sustainability scorecard at its 17th Annual General Meeting in Lagos, chairman of Dangote Cement, Mr […]

Every country occasionally produces a scandal so implausible that, if presented as fiction, it would be dismissed as lacking credibility. Nigeria’s Presidential Foreign Intervention Promotion Council (PFIPC) affair is one such scandal. According to the Presidency, the PFIPC never existed. Yet it allegedly acquired all the trappings of existence: official correspondence, interactions with ministries and […]

The Managing Director and Chief Executive Officer of First City Monument Bank (FCMB), Yemisi Edun, has presented the Centre for Integrated Health Programs (CIHP), a non-governmental organisation (NGO), with an N50 million grant to help the organisation navigate challenges. The Managing Director of FCMB, who presented the cheque to the Chief Executive Officer (CEO) of […]

  For decades, the financial elite of Zurich and London viewed international drug trafficking as a coarse, localized problem. It was a menace measured in street corners, plastic baggies, and gang rivalries. However, a major global sting operation has smashed this illusion. The arrest of Nigerian billionaire Amadi Simon in Switzerland, alongside his female co-conspirators […]

In the impatient age of quarterly capitalism, where executives are judged by immediate returns and investors demand instant gratification, patience has become one of the rarest commodities in business. Yet patience, more than brilliance or bravado, has always distinguished the true institution-builder from the mere opportunist. Few contemporary African businessmen embody this distinction more convincingly […]

President Bola Ahmed Tinubu has commended the growing impact of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), which has delivered ₦128 billion in affordable mortgages to 1,859 Nigerian families across 25 states under the Renewed Hope Agenda.    The beneficiaries, spread across all the geopolitical zones, have accessed mortgages of up to […]

The Central Bank of Nigeria has said it is implementing a reform targeting 95 per cent financial inclusion, and “faster-than-a-blink” digital transactions, bringing millions more market women, farmers, and young people into the formal financial system.   Speaking during the launch of the Payments System Vision 2028 (PSV 2028) Monday, the CBN Governor, Olayemi Cardoso, […]