Nigeria lost N34 trillion (61% of the 2025 budget) to import duty waivers in 2025, according to Customs Comptroller-General Bashir Adewale Adeniyi, who revealed that IDEC approvals reached N34 trillion.
The Nigeria Customs Service auctioned 20,500 litres of seized petrol worth N38 million at a cheap price amid rising fuel costs, as part of a crackdown on smuggling.
The naira remained stable at N1,379.6504 per dollar on July 13, 2026, supported by $970 million in weekly FX inflows, despite global dollar strength and rising geopolitical tensions.
Palmpay Nigeria has appointed Samuel Oluyemi, a former NIBSS executive, as its new Chief Operating Officer to drive operational efficiency and growth.
Nigeria's import duty waivers surged to N34 trillion in 2025, according to the Nigeria Customs Service, marking a significant increase from previous years.
Over 160 banking executives and regulators gathered in Lagos for the Anti-Financial Crime Summit 2026, hosted by CWG Plc and Clari5, to discuss AI-driven fraud prevention and AML defence.
Turkey offers visa on arrival for eligible travellers. Learn who can apply, required documents, application steps, stay duration, and extension rules in this guide.
South Korea, Japan, and China have updated visa-free entry lists for 2026, allowing citizens of dozens of countries to enter without a visa. Nigeria not included, but dual citizens may benefit.
Regency Alliance Insurance Plc launches a N7.37 billion rights issue to boost capital base, offering 7.37 billion shares at N1 each to existing shareholders.
Australia increased the Core Skills Income Threshold to AUD 79,423 for skilled work visa nominations from July 2026, affecting Nigerians and other applicants.
Qatar's official travel portal confirms only nationals from 5 Gulf Cooperation Council countries can enter without a visa in 2026. All other nationalities need a visa.
Dangote Refinery ends naira sales for marketers, introducing dollar pricing for petrol ($0.779/L), diesel ($1.087/L), and aviation fuel, reshaping Nigeria's downstream sector.
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Dangote Refinery has moved petrol and diesel sales from naira to dollars for some buyers, impacting fuel marketers and potentially influencing pump prices, though Nigerians will still pay in naira at filling stations.
Mexico confirms permanent residents of the US, UK, Canada, Japan, Schengen, and Pacific Alliance can enter visa-free for tourism, business, or transit with a valid passport and resident card.
UAE sets conditions for Virtual Work Residence Visa: minimum salary of $3,500, permit fee of AED 200, and 7 requirements including passport, health insurance, and remote work proof.
IPMAN warns that petrol prices could rise if Dangote Refinery sells products in dollars, citing increased costs for marketers that may be passed to consumers.
Over 70 military veterans in Abuja demand the Federal Government implement the N250,000 minimum wage signed into law by President Tinubu in November 2025, warning of a protest at the Finance Ministry.
Seychelles confirms visa-free entry for all recognized countries except Kosovo, with visitor's permit on arrival and online immigration procedures required.
The UAE has outlined three required documents for a family residence visa, the application process, and the permit fee of AED 200 for foreign residents.
France has announced that nationals of 13 countries, including South Africa, India, China, and the UAE, can enter its overseas territories without a visa in 2026 if they hold a valid multi-entry French visa.
Nigeria and Hong Kong signed a double taxation agreement to eliminate double taxation, enhance trade, and prevent tax evasion, effective January 1, 2026.
A CBN survey reveals business confidence declined in June 2026 as rising operational costs and inflationary pressures weighed on firms across Nigeria.
Dangote Refinery stops naira fuel sales, adopting dollar pricing at $0.779/litre for petrol, raising concerns over price hikes and economic impact on Nigerians.
NGX equities lost N1.32 trillion in market capitalisation as investors sold off industrial goods, banking, and consumer stocks. The All-Share Index fell by 2,467 basis points to close at 98,456.72.
The US Soybean Export Council offers to help Nigeria close its protein deficit, citing soy's affordability and nutritional benefits for food security.
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Heineken's Bar De Change lets Nigerian travellers buy Heineken at local prices before flying to the US or Mexico, redeeming vouchers at participating bars abroad.
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Orange Group launches Cannon PM nationwide in Nigeria, a dual-action overnight recovery solution for the workforce, addressing poor sleep affecting 42% of adults.
Turkey's Ministry of Foreign Affairs confirmed that citizens of 8 countries can enter using expired passports under specific conditions, with varying expiry windows.
President Trump reinstates Iran port blockade and imposes 20% levy on all cargo passing through the Strait of Hormuz, citing security costs.
The FMDQ projects that OMO maturities this week will inject N3.12 trillion into Nigeria's financial system, boosting liquidity and potentially easing interbank rates.