GTBank Doubles Naira Card Limit to $40,000
GTBank has doubled the quarterly international spending limit on its naira debit cards to $40,000, becoming the first of Nigeria's 33 recapitalised commercial banks to reach this ceiling.
Category : Business
KudiWave Controversy: Nairametrics Gives Background
Nairametrics publishes background on the KudiWave matter, detailing the fintech dispute, key allegations, and regulatory stance, shedding light on the ongoing controversy.
Transaction Monitoring: A Boardroom Issue for Nigerian Banks
Transaction monitoring has evolved from compliance to a competitive advantage and boardroom priority for Nigerian banks, according to a new report.
NFEM Turnover Crashes to $185m, Hits 11-Week Low
NFEM turnover fell to $185 million, an 11-week low, as FX market activity thinned. The decline reflects reduced liquidity and investor caution.
CBN Injects N5.21tn Ahead of N700bn NTB Auction
The CBN injected N5.21 trillion into the banking system in one week, ahead of today's N700 billion NTB auction, boosting liquidity and stabilizing the naira.
How Banks Can Cut Energy Volatility with Managed Power Networks
Financial institutions can eliminate branch energy volatility by building managed power networks, reducing costs and ensuring reliable operations, according to experts.
NNPC Cuts Petrol Price to N1,250 in Abuja, New Rates Released
NNPC Ltd reduced petrol prices at Abuja filling stations from N1,299 to N1,250 per litre, following Dangote Refinery's N50 gantry price cut, offering relief to motorists.
Dangote Refinery Raises Petrol Price by N15.50 as Depot Rates Hit N1,200
Dangote Refinery increased its ex-gantry petrol price by N15.50 to N1,181 per litre, pushing depot rates to an average of N1,200 per litre as crude oil nears $90 per barrel.
Shoprite: South Africa Generates 85% of Group Supermarket Sales
Shoprite reported that South Africa accounts for 85% of its group supermarket sales, with the rest from other African markets, according to its latest annual results.
FG Considers New Crude Rules as Refiners Battle High Feedstock Costs
The Federal Government is reviewing crude oil supply rules to ease feedstock costs for local refiners, amid ongoing disputes over pricing and availability.
ECOWAS Opens $65,000 Startup Awards for Nigerians
ECOWAS invites Nigerian startups to apply for $65,000 in prizes. 60 startups will be selected across six sectors. Applications close August 31, 2026.
Air Peace, United Nigeria Resume Flights After Strike Suspension
Domestic airlines resume operations after aviation unions suspend strike over 5% Ticket Sales Charge dispute; Air Peace cancels 29 flights, working to clear backlog.
NICON Re-Fighting Lost Battle Against NAICOM, Source Says
NICON Insurance is reportedly re-fighting a lost battle against NAICOM, the industry regulator, according to a source familiar with the matter. The dispute centers on regulatory compliance issues that have persisted despite previous rulings.
Petrol Depot Prices Rise as Iran Shuts Strait of Hormuz
Petrol depot prices rose across Nigeria on August 11, 2026, as crude oil hit $89.40. Iran's Strait of Hormuz closure pressures supply, with Dangote holding prices.
NCAA Plans RFID Baggage Tracking Across Nigerian Airports
The NCAA will implement RFID baggage tracking across Nigerian airports to reduce lost luggage and improve passenger experience, according to the Director of Consumer Protection.
FG Inaugurates Advertising Offences Tribunal to Enforce ARCON Act
The Federal Government inaugurated the Advertising Offences Tribunal in Abuja to enforce the ARCON Act, ensuring ethical advertising and protecting consumers from misleading content.
MTN Free TikTok Sundays Exclude Nigeria
MTN launches TikTok Open Time in South Africa, giving one hour free data every Sunday, but Nigerian subscribers are excluded.
Nigerian Stocks Rise 0.1%; Banking Sector Leads; Top Picks
Nigerian equities gained 0.1% last week, driven by bank stocks. Only the banking index advanced amid profit-taking. Top stock picks include Coronation Insurance, Wema Bank, UACN, May & Baker, Sterling, and Vitafoam.
OPay 7 Savings Festival: 27% Interest, ₦77m Pool
OPay launches the 7 Savings Festival (Aug 10-Sep 27, 2026) offering 27% annual interest and a share of ₦77 million pool for consistent savers.
Coronation Insurance, Life Assurance Complete Recapitalisation
Coronation Insurance Plc and Coronation Life Assurance Limited have completed an oversubscribed private placement, raising capital to meet new NIIRA 2025 requirements and support growth.
TMDK Group marks 25 years, vows deeper investment in energy, agriculture
TMDK Group celebrated its 25th anniversary, reaffirming commitment to expand investments in Nigeria's energy, agriculture, manufacturing, and industrial sectors, with plans to deepen downstream petroleum and agro-processing operations.
NZ Releases Passport Guidelines for New Citizens
New Zealand has published detailed guidelines for new citizens applying for their first passport, including RealMe login, identity referee, photo specs, and delivery options.
NGX Loses N1.17 Trillion as MTN, First Holdco Lead Profit Taking
The Nigerian Exchange (NGX) lost N1.17 trillion in market capitalization on Tuesday as MTN Nigeria and First Holdco led profit-taking, according to Nairametrics.
NYG Backs NNPCL Over N7.13tn Energy Security Costs
Northern Youth Groups defend NNPCL's N7.13tn energy security expenditure, citing PIA legal basis and urging scrutiny based on complete facts.
Tinubu Approves Deep Offshore Reform for $50bn Oil Investment
President Tinubu has approved a deep offshore reform aiming to attract $50 billion in Nigeria's oil sector. The reform includes fiscal incentives and streamlined processes to boost investment.
Tinubu Approves $50bn Deep Offshore Oil Investment Framework
President Tinubu signs a new deep offshore oil investment framework targeting up to $50 billion, replacing project-by-project negotiations with a rules-based system, and covering the $10 billion Bonga South West project.
Comercio Partners Reports 10 Years of Money Market and Living Costs
Comercio Partners' 10-year report reveals Nigeria's money market trends and living cost changes, with inflation impacting purchasing power significantly.
CBN Opens Second Regulatory Sandbox with Crypto Track
The Central Bank of Nigeria launches its second regulatory sandbox, featuring a dedicated track for crypto firms, aiming to foster innovation while managing risks.
Five Investors Corner 65% of IEI's N25.84bn Public Offer
Five investors acquired 65% of Industrial and Environmental Infrastructure's N25.84 billion public offer, according to Nairametrics. The offer was oversubscribed by 1.5 times.
Nairametrics Launches Wealth Academy to Equip Investors
Nairametrics has launched the Wealth Academy, an initiative to equip investors with practical strategies for wealth creation and financial literacy.
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