Dele Momodu Lost $500,000 in Ghana Restaurant Failure
Ovation magazine publisher Dele Momodu has disclosed how he lost over half a million dollars in a failed restaurant business in Accra, Ghana, citing equipment delays and diversification pitfalls.
Category : Business
Naira Falls for 11th Session, Rate Gap Narrows to N13
The Nigerian naira depreciated for the 11th consecutive trading session against the US dollar, with the gap between official and parallel market rates closing to N13. The currency weakened across multiple forex windows amid geopolitical tensions affecting
Ikeja, Eko, Abuja DisCos Lead in NERC Metering Data
NERC reports 6.97 million metered electricity customers in Nigeria by December 2025, with a 57.27% national rate. Experts warn the pace is too slow to close the gap for 5.19 million unmetered users.
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FirstBank MREIF Loan: 9.75% Rate, ₦100M for Home Buyers
FirstBank, in partnership with MOFI, launches the MREIF Home Loan offering a single-digit interest rate of 9.75%, up to ₦100 million loan amount, and 20-year repayment terms, revolutionizing homeownership in Nigeria.
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Nigeria's Reserves Hit 13-Year High at $50.45 Billion
Nigeria's gross external reserves have climbed to $50.45 billion, marking the highest level in 13 years. This significant increase strengthens the country's financial buffer and supports currency stability amid ongoing economic reforms.
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Dele Momodu Lost $500,000 in Ghana Restaurant Business
Ovation publisher Dele Momodu disclosed losing over $500,000 on a restaurant in Accra, Ghana, due to customs delays and business missteps, highlighting risks in diversification.
Lady Cries After Saving N1 Million on Piggyvest for 8 Years
A Nigerian lady shares her emotional journey of saving N1 million on Piggyvest over eight years, celebrating a major financial milestone despite upcoming expenses.
Tinubu Suspends FAAN Cashless System Over Airport Gridlock
President Bola Tinubu orders immediate suspension of FAAN's cashless payment system at airport toll gates, citing severe traffic congestion and missed flights. A hybrid system will be temporarily adopted while authorities redesign the policy with private
Optimus Bank Hits N200bn Capital Mark Ahead of CBN Deadline
Optimus Bank has successfully raised its paid-up capital to N200 billion, meeting the Central Bank of Nigeria's recapitalisation requirement for national banks well before the March 31, 2026 deadline.
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Cooking Gas Price Hits ₦1,400 Per Kg Amid Global Crisis
Nigerian cooking gas prices have surged to ₦1,400 per kilogram as Middle East tensions disrupt global energy markets, putting pressure on households and businesses.
Nigeria Bans Imports in 2026 to Boost Local Production
The Federal Government of Nigeria has released a comprehensive list of items banned from importation in 2026, targeting food, household goods, and industrial materials to protect domestic industries and enhance self-sufficiency.
FG Taxes Informal Sector, Bans Cash Tax Collections
Nigeria's federal government introduces a new tax framework targeting artisans and small businesses, banning cash collections and roadblocks to enhance transparency and fairness in revenue system.
FCCPC Releases Approved Airtime and Data Lenders List 2026
The Federal Government, through the FCCPC, has announced a list of approved airtime and data lenders in Nigeria for 2026, aiming to enhance consumer protection and transparency in digital lending services.
Naira Hits 13-Year High as CBN Reforms Boost Currency
Nigeria's naira appreciated by 6.87% in 2025, marking its first annual gain in 13 years due to Central Bank reforms, capital inflows, and improved reserves.
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Iranian Missile Hits Container Ship in Strait of Hormuz
A Maltese-flagged container ship, Safeen Prestige, was struck by an Iranian missile in the Strait of Hormuz, forcing the crew to abandon ship. The attack raises fears of global energy supply disruptions as tensions escalate in the region.
Nigeria's Gold Reserves Hit $3.5 Billion After CBN Purchase
The Central Bank of Nigeria has increased its gold reserves to $3.5 billion through a domestic purchase program, acquiring LBMA-standard refined gold to diversify foreign reserves amid global price rallies.
NCC's 14-Day SIM Alert Rule to Fight Fraud
The Nigerian Communications Commission proposes telecom operators must notify subscribers 14 days before recycling SIM cards, part of a new identity risk management system to prevent fraud.
Tenant Served Quit Notice After Renovating Rented Apartment
A Nigerian lady shares her distress after her landlord served a quit notice just six months post-renovation, sparking outrage and similar tenant stories online.
FG to Demolish and Rebuild Lagos Carter Bridge with N5bn
The Federal Executive Council has approved the demolition and reconstruction of Carter Bridge in Lagos at over N5 billion. Minister David Umahi announced this along with other major road projects nationwide.
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10 Affordable Cars Under ₦5 Million in Nigeria 2026
Discover 10 reliable used cars you can purchase for under ₦5 million in Nigeria in 2026, including Toyota, Hyundai, Lexus, and Honda models with prices and features.
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Tinubu Suspends Airport Cashless Policy Over Gridlock
President Bola Tinubu has ordered the immediate suspension of the cashless policy implementation at Nigerian airport gates following severe traffic congestion at major airports in Lagos and Abuja.
Nigerian Cement Giants Post N1.65 Trillion Profit in 2025
Dangote Cement, BUA Cement, and Lafarge Africa collectively generated over N6.53 trillion in revenue, with profits soaring 142% as cement prices rose significantly across Nigeria.
Tinubu Suspends Cashless Payment at Airports
President Bola Tinubu has directed the suspension of the cashless payment system at airports, citing pressure on citizens. Aviation Minister Festus Keyamo announced a hybrid system will be implemented.
Dangote Orders 1,000 CNG Trucks from China for Green Logistics
Dangote Group has placed a major order for over 1,000 CNG-powered vehicles from China's Foton Motor to enhance its logistics operations with cleaner and more cost-efficient transport solutions.
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Nigeria Cooking Gas Hits ₦950/KG as Iran War Disrupts Supply
Cooking gas prices in Nigeria have surged to ₦950 per kilogram as Iran's attacks on ships in the Strait of Hormuz disrupt global energy supply, causing immediate ripple effects across markets.
Zenith Bank Seeks Stronger Ties with Ogun State
Zenith Bank's leadership commended Ogun State's infrastructure transformation under Governor Dapo Abiodun and proposed deeper collaboration to boost economic growth through strategic partnerships.
Ibom Air Enforces NCAA Power Bank Safety Rules
Ibom Air has implemented new NCAA safety directives requiring power banks to be kept accessible in the cabin, not in overhead compartments, with strict watt-hour limits to prevent lithium-ion battery incidents during flights.
Nigeria Launches Revenue Service with Sweeping Tax Reforms
Nigeria has launched the Nigeria Revenue Service, replacing the FIRS with new laws to simplify taxes, enhance digital processes, and foster fairness for small businesses and citizens.
NNPC Petrol Price Hits N960/Litre in Abuja, Lagos, Delta
The Nigerian National Petroleum Company (NNPC) has raised petrol prices nationwide, with Abuja at N960/litre and Lagos at N932/litre, amid global crude oil price surges.
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World Bank: Nigeria's Job Market to Worsen Amid Global Crisis
The World Bank projects a severe global employment gap with 1.2 billion young people entering the workforce but only 400 million jobs available, disproportionately affecting Nigeria and Africa.
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