Yellow Card Reveals Why It Pivoted from Crypto Exchange
Yellow Card, a leading African crypto exchange, has pivoted to stablecoin infrastructure, citing regulatory clarity and user demand for stable assets.
Category : Business
Abia Governor Commends Geometric Power for Restoring Aba Power
Abia State Governor Alex Otti has commended Geometric Power for restoring electricity in Aba after days of outage, urging backup plans to prevent recurrence.
Osun domestic debt drops N69.18bn under Adeleke
Osun State's domestic debt fell by N69.18 billion (46.6%) under Governor Adeleke, moving the state from 9th to 18th most indebted in Nigeria, per DMO data.
CBN lifts restrictions on banks' access to lending facility
The Central Bank of Nigeria has removed restrictions on banks' access to its Standing Lending Facility tied to NFEM and government securities auctions, and lifted the suspension of Tenored Repo Operations to improve liquidity management.
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Abia Governor Approves First South-East National Park
Governor Alex Otti approves the first National Park in South-east Nigeria, to be sited in Abia State, with 18 forest reserves available for consideration.
Nigeria's Crude Oil Output Drops 4% in July 2026
Nigeria's crude oil production fell 4% to 1.505 million bpd in July 2026, yet exceeded OPEC quota for third month, NUPRC reports.
NUPRC 2025 Oil Licensing Round: 37 Blocks Awarded, 90-Day Deadline Set
NUPRC concluded Nigeria's 2025 licensing round on 21 July, awarding 37 oil blocks to 31 companies. Winners have 90 days to pay signature bonuses, with the government projecting 500 million barrels in new reserves and 300,000 barrels daily production withi
Bayelsa among world's most polluted, says Bassey
Nnimmo Bassey of HOMEF says Bayelsa is one of Nigeria's most polluted states due to oil extraction, citing a 2023 report showing 1.5 barrels of crude per capita.
Phoebe Gates' app Phia accused of 'cookie stuffing'
Phoebe Gates' shopping app Phia allegedly took credit for sales it didn't generate, with founders aware since December, Bloomberg reports.
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NGX Loses N613bn as Unilever Stocks Extend Selloff
NGX equity market lost N613bn on Thursday as Unilever and consumer goods stocks extended selloff, dragging market cap to N67.9tn.
Fortis Global Insurance Appoints Two New Board Members
Fortis Global Insurance Limited has appointed Umar Faruk Umar and Ufuoma Ibru as non-executive directors, effective August 13, 2026, according to a corporate filing.
Jowizaza's Father: Net Worth and Jezco Oil Founder's Story
Chief Joseph Ebere Ezeokafor Snr, Jowizaza's father, built a $2 billion fortune via Jezco Oil since 1980. Learn 7 key facts about his wealth, family, and business.
Airtel Surpasses 17,000 Cell Sites, Adds 1,000+ in Expansion
Airtel Nigeria has surpassed 17,000 cell sites, adding over 1,000 in a nationwide expansion. This boosts network coverage and capacity, according to the company.
Airtel Nigeria Adds 1,000+ 5G Sites in One Year
Airtel Nigeria has accelerated its 5G rollout, installing over 1,000 new sites in one year, covering major cities and boosting network capacity.
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DMO Cuts August FGN Bond Offer to N1.1trn After June Demand
The DMO has reduced the August FGN bond offer to N1.1 trillion, following a N1.74 trillion subscription in June, reflecting market dynamics.
NAICOM Confirms Seven More Insurers Meet Capital
NAICOM confirms seven additional insurance companies have met the new capital requirements, bringing total to 14. This milestone marks progress in the industry's recapitalization drive.
Most Indebted Nigerian States as of March 2026
As of March 2026, Lagos leads Nigeria's subnational debt with N1.31 trillion, followed by Delta and Akwa Ibom, according to a new report.
Patience Jonathan: I Brought Up Azikel Refinery Boss Eruani
Former First Lady Patience Jonathan says she mentored Azikel Group President Azibapu Eruani, introducing him to Dangote and Dantata, during a refinery inspection in Bayelsa.
Nigerians Borrow More for Homes as CBN Reports Rising Credit Demand
Household credit for house purchases rose to 9.6 index points in Q2 2026, per CBN's Credit Conditions Survey, signaling stronger borrowing for home ownership amid rising secured and corporate loan demand.
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Singapore Launches Jobs Portal for Foreigners to Relocate and Earn in Dollars
Singapore has launched an official government jobs website for foreign nationals, offering employment opportunities that may lead to relocation and dollar-denominated earnings, part of efforts to attract international talent.
UK Publishes 2026 List of Foreign Worker Categories for Sponsorship
The UK government has published an official list of 11 worker categories eligible for employer-sponsored visas in 2026, covering skilled, health, creative, and other roles, offering a clear pathway for Nigerians and others.
Lagos tops IGR with ₦1.17trn, Enugu 3rd in H1 2026
Lagos State generated ₦1.17 trillion in IGR in H1 2026, surpassing all other states combined, with Ogun and Enugu following at ₦140.57bn and ₦95.62bn.
Indonesia Proposes Higher Visa on Arrival Fees for 2026
Indonesia's immigration chief proposed raising Visa on Arrival fees to 750,000 rupiah for e-VOA and 1 million rupiah at airports, pending approval.
Ardova Modular Refinery to Produce Petrol in 2027
Ardova Plc's subsidiary, Aradel Holdings, will commence petrol production at its 5,000-barrel modular refinery in 2027, boosting domestic supply.
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CBN Eases Cash and Forex Rules for Access, UBA, Zenith, Others
CBN removes restrictions on banks' access to Standing Lending Facility and FX markets, allowing participation in government securities auctions, with OMO limits retained.
FGN Savings Bond: DMO Raises N5.86bn as Demand Cools
The DMO raised N5.86 billion from the August FGN Savings Bond offer, with investor demand cooling compared to previous months, driven by prevailing market yields.
Nigeria's Dollar Millionaires Rise to 8,100, Ranking 4th in Africa
Nigeria's dollar millionaire population rose to 8,100 in June 2026, a 12.5% increase from 7,200 a year earlier, ranking 4th in Africa behind South Africa, Egypt, and Morocco, according to New World Wealth.
MDGIF Backs 200 Gas Projects as Nigeria Targets $200tn Reserves
The Midstream and Downstream Gas Infrastructure Fund (MDGIF) is supporting 200 gas projects as Nigeria moves to unlock its $200 trillion gas reserves, boosting energy security and investment.
Tinubu Tax Reforms Fail to Ease Multiple Levy Burden on Businesses
Despite President Tinubu's tax reform promises, Nigerian businesses still face multiple levies from various government levels, undermining relief and increasing operational costs.
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ECOWAS Sets 2027 ECO Currency Launch Conditions for Nigeria
ECOWAS plans a phased ECO currency rollout by 2027, contingent on strict conditions like single-digit inflation and fiscal discipline. Nigeria faces hurdles, but the naira won't instantly disappear.
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