GOP Lawmakers Defy Trump on Canada Tariffs
In a rare rebuke, six House Republicans joined Democrats to pass a measure targeting Trump's tariffs on Canada, signaling growing GOP unease with his trade policies despite presidential veto threats.
Category : Business
NDIC Uses New Act to Recover N1.5trn from Failed Banks
The Nigeria Deposit Insurance Corporation is intensifying efforts to recover approximately N1.5 trillion in debts and assets from nearly 150 failed financial institutions using enhanced legal provisions under the NDIC Act 2023.
Top 10 Nigerian States with Highest Foreign Debt in 2025
Nigerian states paid N455.38bn in foreign debt service in 2025, a 25.77% increase from 2024. Lagos leads with N92.80bn, as top 10 states account for 69% of repayments, raising fiscal concerns.
Flutterwave's 10th Anniversary Gala Attracts Top Figures
Former presidents, governors, and entertainment stars gathered in Lagos to celebrate Flutterwave's decade of operations, highlighting the fintech company's impact on Africa's digital payment landscape.
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Naira Gains for Third Week After CBN BDC Policy Change
The Nigerian Naira appreciated against the US dollar, pound sterling, and euro in the official market, marking a third weekly gain following the CBN's decision to permit BDCs to buy dollars from banks.
Aso Villa Switches to Solar Power, Ditches National Grid
Nigeria's Presidential Villa completes solar power project, plans full transition from national grid by March 2026 to reduce costs and address billing irregularities.
Dangote Refinery Reaches Full 650,000bpd Capacity Milestone
Dangote Petroleum Refinery achieves full operational capacity of 650,000 barrels per day, marking a historic milestone for Nigeria's oil industry and boosting domestic fuel supply.
FG Opens FarmerMoni Portal for 22,000 Farmers to Get N300,000 Loans
The Nigerian government has launched the FarmerMoni Dry and Wet Season Programme, offering interest-free loans of up to N300,000 to 22,000 farmers nationwide to boost agricultural productivity and food security.
NDIC Pays Failed Bank Depositors in 72 Hours via BVN
The Nigeria Deposit Insurance Corporation reimbursed customers of Heritage Bank, Union Homes, and Aso Savings within three days of closure by using linked BVNs to transfer funds quickly to alternative accounts.
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Nigeria to Sell State Assets in 2026, Edun Announces
The Federal Government plans to begin selling state-owned assets to private investors from 2026 to strengthen the economy and attract investment, as announced by Finance Minister Wale Edun.
Plane Emergency Landing on Road Hits Vehicles in Georgia
A single-engine aircraft experienced engine failure and was forced to land on a busy Gainesville street, colliding with three vehicles and causing minor injuries.
Woman's Viral Lagos House Hunt Shows Poor Rental Apartments
A Nigerian woman's video documenting her frustrating apartment search in Lagos has gone viral, revealing substandard living conditions like mold, unsafe areas, and cramped spaces.
Nigerian Lady's Viral Plea for Help Amid Unemployment Crisis
A young Nigerian woman's emotional online appeal for job opportunities has gone viral, highlighting widespread youth unemployment and the struggle to gain experience.
Arik Air Plane Emergency Landing in Benin After Engine Failure
An Arik Air Boeing 737 made an emergency diversion to Benin Airport after experiencing engine failure during a Lagos to Port Harcourt flight. All 80 passengers were safely disembarked.
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OceanHub Africa & Coca-Cola Launch $120K Plastic Waste Challenge
OceanHub Africa and The Coca-Cola Foundation announce a $120,000 pan-African initiative to fund innovative solutions for plastic circularity, targeting recycling 490 tons of waste and creating over 150 livelihoods by 2026.
5 Nigerian Banks Lead Stock Surge Before CBN Recapitalization
The Nigerian Exchange Banking Index has surged over 10% in 2026 as five major banks demonstrate strong capital positions ahead of the Central Bank's recapitalization requirements.
States' Foreign Debt Service Hits N455bn in 2025
New FAAC data reveals Nigerian states spent N455.38 billion on foreign debt service in 2025, a 25.77% increase from 2024, with Lagos, Rivers, and Kaduna leading the burden.
Enugu Air Launches with Embraer 195 to Compete in Aviation
Enugu State has launched Enugu Air, a state-owned airline, adding an Embraer 195 to its fleet to compete with Air Peace and Max Air, aiming to boost regional connectivity and economic growth.
Naira Gains as Nigeria's Reserves Reach 8-Year Peak
The Nigerian naira appreciates against the US dollar, trading at N1,351.02 in the official market as external reserves climb to $47.02 billion, the highest level since August 2018. Analysts attribute the gains to CBN reforms and improved forex liquidity.
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APC's Igbokwe: Landlords Push Nigerians to Steal for Rent
APC chieftain Joe Igbokwe condemns soaring rents in Lagos, warning that greedy landlords are forcing residents into crime to afford housing. He calls for urgent government intervention.
Nigeria to Sell Public Assets in 2026, Says Finance Minister
Finance Minister Wale Edun announces federal government plans to sell selected state-owned assets in 2026, emphasizing improved investment climate through recent reforms and public-private partnerships.
US Airport Grounds Flights for 10 Days Over Security Threat
El Paso International Airport in Texas has suspended all flights for 10 days due to a national security threat, with the FAA imposing a temporary flight restriction and warning of potential deadly force.
Arik Air Flight Diverts to Benin City After Engine Fault
Passengers on an Arik Air flight from Lagos to Port Harcourt experienced panic after the aircraft developed an engine issue mid-flight, forcing an emergency landing in Benin City on Wednesday, February 11, 2026.
NiMet Forecasts Early Rainfall, Extreme Weather in Nigeria
The Nigerian Meteorological Agency predicts early rainfall in 15 states including Kano and Rivers, with extreme weather expected from March to May 2026. Minister Keyamo warns farmers against premature planting.
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Plane Crash-Lands Near Mogadishu, All 55 Survive
A Starsky Aviation Fokker 50 with 55 people on board made an emergency landing on the shoreline near Mogadishu airport after a technical fault. All passengers and crew survived without serious injuries.
Customer Demands Wig Payment After Shop Fire, Wig Found Intact
A Nigerian businesswoman is in distress after a customer demanded payment for a wig, despite the wig being found unharmed following a fire that destroyed over N3.5 million worth of items in her shop.
Nigeria Second-Largest Investment Banking Market in Africa
Nigeria maintained its position as the second-largest investment banking market in Sub-Saharan Africa in 2025, with fees rising to $97.9 million, despite declines in equity issuance and M&A deal value.
SEC Warns Nigerians About Digital Ponzi Schemes
Nigeria's SEC has identified five unregistered platforms operating as Ponzi schemes, warning investors about unrealistic returns and urging verification before investing.
55 Survive Plane Crash-Landing on Somalia Beach
A passenger plane carrying 55 people crash-landed on a Somalia beach after a technical failure, with all occupants surviving the dramatic emergency evacuation.
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CBN Allows BDCs to Buy Dollars from Official Market
The Central Bank of Nigeria has authorized Bureau De Change operators to purchase dollars directly from the official foreign exchange market with a weekly limit of $150,000 per operator to boost retail supply.
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