IMF: Nigerian Banks Slow to Cut Lending Rates
The IMF reports that Nigerian banks rapidly increase lending rates during tightening but are slow to reduce them, highlighting asymmetric monetary policy transmission.
Category : Business
Tech CEO Found Dead at £2.5m Mansion, Woman Arrested
Neil Muller, 54, CEO of Node4, was found dead with stab wounds at his Warwickshire home. A 55-year-old woman was arrested on suspicion of murder and later bailed.
Zeeoma Opens The Door: N5 Million Seed Capital for African Brands
Zeeoma launches The Open Door Lagos Edition, offering African creative brands mentoring and up to N5 million seed capital. Applications close June 21, 2026.
)
Tony Elumelu Appointed Chairman of Seplat Energy
Tony Elumelu has been elected as the next Chairman of Seplat Energy, succeeding Senator Udoma Udo Udoma from January 2027. Engr. Effiong Okon is appointed CEO from August 2026.
Millions Caught in Airtime Lending Regulatory War
A regulatory clash over airtime lending between FCCPC, WASPAN, and ALTON left millions of Nigerians without emergency airtime, with services suspended and courts deciding the outcome.
NGX Gains 0.53% as Airtel Africa, First Holdco Lead Rally
The Nigerian Exchange (NGX) rose 0.53% on Tuesday, driven by strong buying in Airtel Africa, First Holdco, and other blue-chip stocks, offsetting sector losses.
GHC Anti-Malaria Competition for Nigerian Students
Geneith Health Competition mobilizes Nigerian students to fight malaria through awareness, innovation, and community action. Registration is now open.
HOC Capital Club Inducts Chief Wole Olanipekun as President
Chief Wole Olanipekun, CFR, SAN, has been formally inducted as President of the Council of Chairmen and Grand Patron of HOC Capital Club, a milestone event attended by leaders from business, politics, and diplomacy.
)
Cooking Fun Ends at the Sink: VIVA Dishwashing Liquid Saves Day
Cooking is enjoyable until you face the pile of greasy pots. VIVA Dishwashing Liquid makes cleanup easier with its powerful grease-cutting formula, leaving dishes sparkling clean.
)
CEVA Logistics and EFL Africa Launch Joint Venture in Nigeria
CEVA Logistics and EFL Africa have formed CEVA EFL Limited, a joint venture in Nigeria to enhance logistics services, combining global reach with local expertise.
Nigeria Solar Panel Exports Hit N85.8bn in Q1 2026
Nigeria exported solar panels worth N85.79 billion in Q1 2026, with the United States as the leading buyer, signaling growth in local renewable energy manufacturing.
Nigeria Cooking Gas Shortage Worsens as Exports Rise
Nigeria's cooking gas shortage deepens as 62% of production is exported, prices surge 335% to N2,000/kg, and demand outstrips supply by 200,000 metric tonnes.
Telcos Compensate 75 Million Nigerians with Free Airtime
Nigerian telecoms compensate over 75 million subscribers with free airtime due to poor network quality, as mandated by NCC. Subscribers automatically qualify.
NSIA chair seeks $1bn infrastructure fund, domestic capital
Segun Ogunsanya, chairman of NSIA, calls for stronger domestic capital mobilisation to finance Nigeria's infrastructure deficit, anchoring a $1bn fund with IFC.
Airtime Credit Market: Regulatory Turmoil and Banking Competition
Nigeria's airtime lending market, valued at N400 billion, faces regulatory shifts, legal battles, and bank incursions, impacting millions of subscribers.
Cooking Gas Price Surge Drives Nigerians to Charcoal
A 67% spike in LPG prices forces Nigerian families to ration gas or switch to charcoal, threatening clean energy goals and raising monthly bills to N362 billion.
Nigeria risks N2.8 trillion loss from new sugar tax, MAN warns
The Manufacturers Association of Nigeria warns that a proposed sugar tax could cost Nigeria up to N2.8 trillion in value chain losses within 6-12 months, threatening jobs and industrial growth.
IMF Backs Nigeria Reforms, Warns Poverty May Worsen
IMF endorses Nigeria's economic reforms but warns poverty and food insecurity may deepen. Reports 63% poverty rate, 27 million facing food insecurity.
Obi challenges Tinubu on N200tr debt, demands accountability
Peter Obi questions Tinubu's N200 trillion debt surge, seeking transparency; Presidency blames naira devaluation; IMF warns on $5b UAE swap deal risks.
Fighting Marine Litter for Nigeria's Blue Economy
Marine litter threatens Nigeria's blue economy, costing billions. Private sector, government, and communities join forces to curb plastic waste, protect waterways, and sustain fisheries, tourism, and trade.
1,859 families access N128b mortgages in housing drive
President Tinubu announces 1,859 families accessed N128 billion mortgages at 9.75% interest over 20 years, as part of affordable housing push under Renewed Hope Agenda.
Tinubu Vows Sustained Infrastructure Investment, Commends Wike
President Tinubu reaffirms commitment to infrastructure as key to economic growth, commissioning Abuja's Outer Southern Expressway and praising FCT Minister Wike.
Tegbe Vows Reforms, Accountability as Power Crisis Deepens
New Power Minister Joseph Tegbe pledges honesty and diligence amid Nigeria's electricity crisis, with output at 4,853 MW against 13,600 MW capacity and sector debt over N6 trillion.
Senate Seeks Ban on Textile Imports for Industry Revival
The Nigerian Senate calls for a total ban on textile imports to revive the local industry, create jobs, and boost economic growth.
Manufacturers Oppose Proposed Sugar Tax Changes
Manufacturers and stakeholders oppose the proposed Customs and Excise Tariff Amendment Bill 2025, warning it could worsen Nigeria's business environment and increase production costs.
Nigeria manufacturing foreign capital inflows drop 50.7% Q1
Foreign capital inflows into Nigeria's manufacturing sector fell 50.7% to $152.27 million in Q1 2026, despite overall capital imports rising 83.8% to $10.37 billion.
Nigeria's $10bn Capital Importation: FPI Surge Masks FDI Weakness
Nigeria's capital importation hit $10.37bn in Q1 2026, up 84% YoY, but 95% is hot money FPI, while FDI is just 1.3%, signaling economic risks.
Exporters Seek FG Help Over Local Council Harassment
Exporters at Lagos Island's Irewolede market cry out to the Federal Ministry of Industry, Trade and Investment over alleged harassment and forced shop closure by the local council.
Tony Elumelu Named Seplat Chairman, Effiong Okon CEO
Tony Elumelu will become Seplat Energy Chairman in January 2027, succeeding Udoma Udo Udoma. Effiong Okon appointed CEO from August 2026.
Moniepoint graduates second DreamDevs cohort
Moniepoint has graduated the second cohort of its DreamDevs Bootcamp, reinforcing commitment to developing homegrown engineering talent and strengthening Nigeria's digital economy.
Page 134 of 453