Naira firms at N1,350/$ official, parallel market stable
The naira closed at about ₦1,350 per dollar at the NFEM on Monday, August 17, 2026, strengthening from ₦1,358.25/$ on Friday, August 14, according to CBN data.
Category : Business
Dangote Petrol N80 Cheaper Than Imported Fuel, MEMAN Data Shows
Dangote Refinery's petrol price is N80 lower than imported fuel, with gantry at N1,165 vs N1,218.54 landing cost, per MEMAN data.
Otedola Raises First Holdco Stake with N20.7bn Share Purchase
Billionaire Femi Otedola has increased his stake in First Holdco Plc to 10.24% after acquiring additional shares worth N20.7 billion, according to a regulatory filing.
Portugal Lists 5 Categories Exempt From Visa Application Fee
Portugal's immigration portal lists five categories of foreign nationals exempt from the €110 visa application fee, including children under six and scholarship holders.
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Six Insurers Miss NAICOM Recapitalisation Deadline
Six Nigerian insurers failed to meet the NAICOM recapitalisation deadline and now face an uncertain future, according to a report by Nairametrics.
Naira Gains N8.07 Against Dollar in Official Market
The naira appreciated by N8.07 (0.59%) to close at N1,349.54/$1 in the official market on August 17, 2026, with FX turnover surging 265%.
FG Adds 208MW to Grid with Upgraded Lagos Substations
Nigeria's FG upgraded Ijora and Apapa substations in Lagos, adding 208MW to the national grid. World Bank and JICA funded the projects, aimed at easing transmission bottlenecks.
Chelsea Ownership Twist: Boehly, Walter in Talks to Sell Stakes
Todd Boehly and Mark Walter have held talks about selling their 12.8% stakes in Chelsea to Clearlake Capital, which could net each around £640m based on a £5bn valuation.
Food Inflation Hits 20.31% in July, Highest in 10 Months
Nigeria's food inflation rose to 20.31% in July 2026, the highest in 10 months, driven by rising costs of staples like rice, yam, and bread.
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Elon Musk's Net Worth Rises $30 Billion in 24 Hours
Elon Musk's net worth surged by $30 billion in 24 hours, driven by a rally in Tesla shares and SpaceX valuation, according to reports.
DMO Allots N1.56trn FGN Bonds as Demand Hits N1.73trn
The Debt Management Office allotted N1.56 trillion in FGN bonds despite N1.73 trillion subscriptions, lowering rates on all offers. The auction saw strong investor demand across tenors.
Top 10 Most Expensive States in Nigeria – July 2026
According to NBS data, Lagos, Abuja, and Rivers top the list of Nigeria's most expensive states to live in July 2026, with average costs exceeding ₦200,000 monthly.
FG Lists 9 Requirements for N50m NHF Housing Loan
FMBN offers N50m NHF loans at 6% interest, repayable over 30 years. Applicants need Nigerian citizenship, 6 months contributions, and more.
MultiChoice Nigeria: Canal+ Won't Change DStv, GOtv Local Decisions
MultiChoice Nigeria reassures that Canal+ acquisition won't alter local pricing, content, and channel packaging for DStv and GOtv, with CEO Kemi Omotosho emphasizing local leadership.
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Naira Hits N1350/$ Strongest Since April
The naira appreciated to N1350 per dollar, its strongest since April, amid improved dollar supply and CBN reforms.
Dangote Refinery Cuts Cooking Gas Price by N150 per kg
Dangote Refinery reduces ex-depot LPG price to N950/kg, a N150 cut, potentially lowering household and business cooking costs, pending retail adjustments.
Ecobank, Cornerstone, Africa Prudential Top Stock Picks
Analysts at Investdata Consulting recommend Ecobank, Cornerstone Insurance, and Africa Prudential as top stock picks for this week, citing attractive valuations and strong fundamentals.
NNPC/FIRST E&P Launches Multi-Year Grant for NGOs
The NNPC Limited/FIRST E&P JV launched 'Impact FIRST: Heritage', a multi-year grant programme for five Nigerian NGOs, building on the 2024 Impact FIRST initiative that supported 15 NGOs and impacted over 20,000 beneficiaries.
Geregu Power Appoints Mohammed Jaoji Acting CEO
Geregu Power Plc names Mohammed Jaoji acting CEO from August 17, pending NERC approval, succeeding Sean Manley.
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Otedola buys 147.7m First HoldCo shares, stake hits 27.49%
Femi Otedola, chairman of First HoldCo, acquired 147.7 million shares on Monday, raising his stake to 27.49%, worth N1.65 trillion.
Germany Sets €45,630 Salary Threshold for Experienced Worker Visa
Germany requires foreign workers to earn at least €45,630 gross annually for the experienced worker visa, equivalent to over N71 million, as per 2026 guidelines.
Nigerian Equities Extend Bearish Run, Lose N106bn in Fifth Session
Nigerian equities extended their bearish run for a fifth straight session, losing N106.24 billion as investors sold off major stocks, according to trading data from the Nigerian Exchange Limited.
Nigerian Lady Reveals Proof of Funds for Canada Visa
A Nigerian lady, @chinenyenwa.e, shared she showed $15,263 CAD as proof of funds for Canada visa, clarifying it's not a fee, and applied without an agency.
Tangerine Life Meets NAICOM Recapitalisation Requirements
Tangerine Life Insurance Limited confirms compliance with NAICOM's recapitalisation requirements, securing its operational licence and positioning for growth.
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Ferrari's Luce Sells for Record $40M at Auction
Ferrari's first electric car, the Luce, sold for $40 million at a California auction, over 35 times its retail price, setting a new world record for a new car.
CBN Revises ATM Charges as PoS Transactions Fall 20%
CBN's new ATM fees: ₦100 per ₦20,000 withdrawal from other banks, plus up to ₦500 surcharge on off-site ATMs. PoS transactions dropped 19.9% in Q1 2026.
MTN Relaunches Lucky Jackpot: How to Win Cash Prizes
MTN Nigeria relaunched its Lucky Jackpot campaign, with over 1.4 million participants in the first season. Subscribers can enter by sending 'WIN' to 4445 to win cash prizes. The campaign runs for nine months in partnership with Yellow Dots Africa.
Petrol Prices Crash as Depots Cut Rates, AP, MRS Slash Prices
Petrol prices fluctuated sharply on August 17, 2026, as depot rates rose then fell, with AP, MRS, and others cutting pump prices to around ₦1,200 per litre.
Top 10 States With Highest Food Inflation in Nigeria
Nigeria's food inflation hit 20.31% in July 2026, with Adamawa leading at 51.36%. Borno was the only state with negative inflation. Headline inflation eased slightly.
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NNPC CEO Ojulari Has No Role in Oil Block Awards, Insiders Say
Industry insiders reject allegations linking NNPC CEO Bayo Ojulari to oil block awards, saying he has no statutory role and the claims are false and malicious.
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