Aircraft Accident Compensation Guide for Survivors and Families
A comprehensive overview of plane crash compensation, covering liability, calculation methods, and legal complexities for victims and families seeking justice after aviation disasters.
Category : Business
Dollar Slumps to One-Week Low as Trade Tensions, Iran Fears Shake Markets
The U.S. dollar retreated to its lowest level in a week as geopolitical risks and renewed trade tensions weighed on investor sentiment. Currency markets brace for volatility amid Supreme Court rulings and diplomatic talks.
Stock Market Loses N514bn as Bearish Trend Continues
The Nigerian equities market sustained its bearish momentum for the second consecutive session, wiping N514 billion off investors' wealth. The All-Share Index fell 0.41% as profit-taking hit banking, consumer goods, and oil and gas stocks.
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Globacom, Samsung Unveil Galaxy S26 Series in Lagos
Telecom giant Globacom partners with Samsung to launch the Galaxy S26 series in Nigeria, offering exclusive pre-order benefits including free data bundles and Platinum eSIM numbers to customers.
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Tinubu's Executive Order Reshapes Oil Revenue Distribution in Nigeria
President Bola Tinubu has signed an executive order mandating direct remittance of oil and gas revenues to the Federation Account, eliminating key deductions and sparking debates on transparency and job losses.
FCCPC Alleges Price Fixing by Nigerian Airlines in Interim Report
The Federal Competition and Consumer Protection Commission's interim report suggests domestic airlines engaged in price fixing during the 2025 Yuletide season, with fares reaching N450,000 despite stable operational costs. The Commission is continuing its
Petrol Prices Drop 17.77% in January 2026, NBS Reveals
The National Bureau of Statistics reports a significant 17.77% year-on-year decrease in petrol prices for January 2026, with Cross River, Rivers, and Nasarawa recording the highest prices while Ekiti, Enugu, and Kaduna have the lowest.
Ikeja Electric Threatens Demolition of Power Line Structures
Ikeja Electric has ordered traders and business operators to vacate areas beneath high-voltage power lines in Lagos, warning of demolition and prosecution for non-compliance.
Nigeria to Lead Africa in Food Inflation in 2026, FAO Reports
A new FAO report projects Nigeria will have Africa's highest food inflation at 17.1% in 2026, with Angola, Zambia, and Ethiopia among nine other African nations facing significant increases, while some countries may see price declines.
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WEF President Brende Resigns Over Epstein Links
World Economic Forum President Borge Brende resigns after reports of emails and meetings with Jeffrey Epstein, with Alois Zwinggi appointed as interim chief.
Naira Avoids Africa's 10 Weakest Currencies in 2026
Fresh data reveals Nigeria's naira is not among Africa's 10 weakest currencies despite recent volatility. The ranking highlights economic challenges facing other African nations.
Chinese Boss Drops $26M Cash at Party, Tells Staff to Take It
A Chinese crane manufacturing company stunned 7,000 employees by stacking $26 million in cash at its annual celebration, inviting them to take home as much as they could physically carry. The firm's billionaire owner explained his unconventional bonus met
Naira Falls for Six Days as CBN Buys Dollars to Slow Appreciation
The Nigerian naira has declined slightly after weeks of gains, with the Central Bank purchasing dollars to stabilize the currency and prevent rapid appreciation, impacting market strategies.
Top 10 African Countries With Highest Minimum Wages in 2026
Morocco leads Africa with a $374 monthly minimum wage in 2026, followed by Mauritius and Algeria, as inflation continues to erode purchasing power despite wage increases across the continent.
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Naira Falls Against Dollar, Pound, Euro in Official and Parallel Markets
The Nigerian naira extended its losing streak, falling against the US dollar, British pound, and euro in both official and parallel foreign exchange markets. The Central Bank of Nigeria's recent dollar purchases and interest rate cut contributed to the cu
NDPHC Calls for End to Electricity Subsidies, Cost-Reflective Tariffs
The Niger Delta Power Holding Company has urged the federal government to phase out electricity subsidies and introduce fully cost-reflective tariffs to address liquidity challenges and stabilize Nigeria's power sector.
EFCC: CBN Board Approved AMCON Takeover of Arik Air
The EFCC has informed a Lagos court that the CBN board approved AMCON's takeover of Arik Air after the airline faced severe financial distress, with testimony revealing alleged fund diversion.
Union Bank Calms Customers After CBN Recapitalisation Remarks
Union Bank of Nigeria has issued a strong statement assuring customers of deposit security and operational stability following recent comments by the Central Bank of Nigeria governor on recapitalisation timelines for banks under regulatory intervention.
Nigerian Banks Face Mergers Ahead of CBN Recapitalisation Deadline
With the March 31, 2026 deadline approaching, 13 Nigerian banks are racing to meet the Central Bank's new capital requirements, sparking potential mergers and acquisitions in the industry.
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Tinubu Extends Raw Shea Nut Export Ban to 2027
President Bola Tinubu has approved a one-year extension of the ban on raw shea nut exports, aiming to boost domestic processing and value addition under the Renewed Hope Agenda.
Tinubu Extends Shea Nut Export Ban, Approves New Framework
President Bola Tinubu has approved a one-year extension of the raw shea nut export ban and established a new national framework to boost local processing and value-added exports.
REA, ECOWAS Partner on $700K Solar Electrification Project
The Rural Electrification Agency and ECOWAS sign a $700,000 grant agreement to power 15 health and education facilities with solar energy in FCT, Niger, and Nasarawa states, aiming to combat energy poverty.
Investors Lose N73bn as Nigerian Stock Market Declines
The Nigerian stock market extended its bearish run on Wednesday, with the All-Share Index dropping 0.06% and investors losing N73.45 billion in market value. Trading activity improved despite the decline.
Stock Markets Hit Record Highs on Easing AI Concerns
Stock markets across Asia and Europe reached unprecedented levels on Wednesday as investor fears about artificial intelligence overvaluation subsided. Positive corporate earnings and a calming presentation from AI firm Anthropic boosted technology shares.
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Aston Martin Cuts 600 Jobs Due to Tariffs and Weak Demand
British luxury carmaker Aston Martin announces plans to slash up to 20% of its workforce, affecting 600 employees, after reporting widened annual losses linked to US tariffs and weak demand in China.
United Nigeria Airlines Bans Power Banks Onboard, Issues Safety Rules
United Nigeria Airlines has prohibited the use and charging of power banks during flights, following NCAA regulations. Passengers must carry them in hand luggage only, with strict capacity limits.
33 Vessels with Fuel, Food to Arrive at Lagos Ports
The Nigerian Ports Authority announces 33 vessels, including 17 with containerised cargo, are scheduled to berth at Lagos ports from February 22 to 27, carrying fuel, food, and other goods to support supply chains.
Naira Gains in Black Market After CBN Rate Cut
The Nigerian naira strengthened by N10 in the parallel foreign exchange market after the Central Bank reduced its benchmark interest rate by 50 basis points. Analysts provide insights on the monetary policy shift and its potential economic impacts.
REA MD Gets 24-Hour Ultimatum Over Billions in Funds
The House Committee on Renewable Energy has ordered the Rural Electrification Agency MD to appear within 24 hours to account for N151 billion in government funds and international grants received between 2015 and 2024.
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Bill Gates Admits Affairs, Apologizes for Epstein Ties
Bill Gates has publicly admitted to having affairs with two Russian women and apologized for his association with Jeffrey Epstein during a Gates Foundation town hall meeting.
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