Tony Elumelu Sends N2 Million to Grieving Entrepreneur
Nigerian entrepreneur Chukwudi Iwuchukwu recounts how billionaire Tony Elumelu sent him N2 million weeks after his mother's burial, highlighting Elumelu's humility and generosity.
Category : Business
CBN Allows Use of Expired NAFDAC Licences for Importers
The Central Bank of Nigeria has approved a temporary two-month dispensation allowing importers to use NAFDAC licences that expired in December 2025 for Form M processing.
Nigeria Clears N501bn Power Debt, Boosts Investor Confidence
The Federal Government has raised N501 billion through bonds to settle historic electricity sector debts, aiming to restore investor confidence and improve power supply for over 12 million customers.
Laura Ikeji Kanu Appeals to Governor Over Lagos Rent Crisis
Beauty entrepreneur Laura Ikeji Kanu has publicly decried the alarming increase in rental costs in Lagos, warning that many businesses are closing quietly. In a video appeal to Governor Sanwo-Olu, she highlights how annual rents now match former house pur
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NNPC Increases Petrol Prices in Lagos, Abuja After Dangote Move
The Nigerian National Petroleum Company Limited has increased petrol prices in Lagos and Abuja, with prices now at N835 and N839 per litre respectively. This follows Dangote Refinery's recent price adjustment amid rising global crude oil costs.
Nigerian Workers Get Higher Pay Under New Tax Laws
Nigerian workers report increased take-home pay in January 2026 as new tax reforms reduce PAYE deductions. Presidential committee confirms early benefits.
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Davos 2026: CEO Urges Global Capital for Africa Growth
At World Economic Forum, Christopher Aleo of iSwiss Pay advocates for fintech, clean energy investments and Europe-Africa partnership to unlock Africa's economic potential.
Grid Collapses 3 Times in a Month: DisCos Blame Low Generation
Nigeria's national electricity grid collapsed three times in January 2026, with distribution companies citing insufficient power generation as the primary cause.
Amazon Cuts 16,000 Jobs Worldwide in Restructuring
Amazon announces expansion of workforce reductions to 16,000 positions globally as part of restructuring to streamline operations amid economic challenges.
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CBN Allows Expired NAFDAC Licenses for Imports Temporarily
The Central Bank of Nigeria has authorized a two-month grace period for importers to use expired NAFDAC licenses in processing Form M applications due to system migration challenges.
Naira Hits Record ₦1,400 to Dollar in Official Trading
The Nigerian naira strengthened to a record high of ₦1,400 to the US dollar in official trading, continuing an appreciation trend driven by CBN reforms and improved forex liquidity.
Grid Disturbance Traced to Gombe Substation by NISO
NISO identifies voltage fault at Gombe transmission substation as cause of Tuesday's national grid disturbance, clarifying it was a partial collapse, not total, with restoration completed within hours.
IATA: $1.2B Blocked Airline Funds Threaten Global Aviation
The International Air Transport Association reveals airlines face severe financial pressure as $1.2 billion in ticket revenues remain trapped globally due to foreign exchange restrictions.
Indian Deputy Minister Dies in Plane Crash with 4 Others
Ajit Pawar, deputy chief minister of Maharashtra state, perished in a plane crash near Baramati along with four others. The aircraft from Mumbai crash-landed in a field, with investigations ongoing.
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Taraba, World Bank Automate Jalingo Abattoir
Taraba State Governor Agbu Kefas partners with World Bank's L-PRES Project to fully automate Jalingo Ultra-Modern Abattoir, aiming to boost hygiene, capacity, and economic growth in Nigeria's North-East.
LIRS Clarifies Tax Recovery Process, Denies Account Seizure
Lagos State Internal Revenue Service Chairman Ayodele Subair clarifies that the agency's power to recover unpaid taxes through third parties is a legal, court-backed process for recalcitrant defaulters, not arbitrary account seizures.
Maharashtra Deputy CM Ajit Pawar Killed in Plane Crash
A private jet crash near Baramati, India, has killed Maharashtra Deputy Chief Minister Ajit Pawar and four others, including pilots and security staff, sparking national mourning.
Nigeria's Reserves Hit $46bn, Highest in 8 Years
Nigeria's foreign exchange reserves surge to $46.012 billion, the highest level since 2018, driven by petroleum reforms and increased crude production, offering optimism for the naira's stability.
Lawyer Dies on UK Flight After Sleeping on Mom's Shoulder
Rachel Green, 44, passed away on a Delta flight from Minnesota to London. Coroner cites heart condition and prescription drug combination as likely causes of death.
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Imported Petrol Cheaper Than Dangote Refinery Price
The landing cost of imported petrol has dropped below Dangote Refinery's gantry price, sparking debates on market competition and pricing dynamics in Nigeria's energy sector.
Naira Hits ₦1,401.22 High as External Reserves Rise
Nigeria's naira appreciates sharply to ₦1,401.22 per dollar in official market, marking strongest performance since FX reforms. Rising external reserves boost confidence amid global oil price concerns.
Dangote Refinery Petrol Price Hike Sparks Nationwide Adjustments
Following Dangote Refinery's N96 increase in petrol ex-depot price, oil marketers nationwide have adjusted pump prices to between N839 and N900 per litre. The refinery cited temporary festive price support ending and assured steady supply of 50 million li
Nigerian Stock Market Gains N125.65bn, Market Cap Hits N106.09trn
The Nigerian stock market closed bullish on Tuesday with the All-Share Index rising 0.12% to 165,713.82 points. Market capitalization increased by N125.65 billion to N106.09 trillion amid positive sentiment.
HR Manager Confronts Employee for Bringing Dog to Office
A Nigerian woman's decision to bring her pet dog to work sparked a viral confrontation with her HR manager, igniting online debates about workplace professionalism and pet policies.
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Govt to Recover Unpaid Tax Through Banks, Tenants, Family
Lagos State government announces new tax recovery method using third parties under Power of Substitution law. Banks, employers, tenants may be compelled to pay defaulters' taxes.
FG Proposes N30bn for Solar Mini-Grids in 2026 Budget
The Nigerian federal government has allocated N30.34 billion in the 2026 budget for solar mini-grids and inverters to power government facilities, schools, and communities amid grid instability.
N2bn Non-Interest Loan for Borno Small Businesses
Rayyan Microfinance Bank has unveiled a N2 billion non-interest intervention package targeting MSMEs in Borno State, with special focus on women entrepreneurs and clean energy projects to revive the local economy.
Scientist Loses Discrimination Claim Over Christmas Party Exclusion
A scientist who sued her employer for not inviting her to a Christmas party while on sick leave has lost her discrimination claim at an employment tribunal in Scotland.
Naira Gains Officially, Falls to N1490/$ in Black Market
The Nigerian Naira appreciated in official foreign exchange markets while depreciating in the black market to N1490/$. Analysts predict continued stability amid rising external reserves.
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YouTuber Mistakes US Tax for Nigerian Government Deduction
A Nigerian content creator sparked online debate after sharing YouTube earnings showing significant tax deduction, initially blaming the Nigerian government before realizing it was US tax withholding.
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