CWG Earns N15.5 Billion from IT Infrastructure in H1 2026
CWG Plc generated N15.5 billion from IT infrastructure services in H1 2026, representing 74% of total revenue, according to its unaudited financial statement.
Category : Corporate News
NAICOM Revokes Universal Insurance Licence Over Capital Failure
The National Insurance Commission (NAICOM) has revoked the operating licence of Universal Insurance Plc for failing to meet the mandatory recapitalisation requirement set by the regulator.
BRB Securities Secures SEC Issuing House Registration
BRB Securities Limited has secured SEC registration as an issuing house, enabling it to underwrite and manage public offerings, a major milestone for the BRB Capital Group.
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Christ Embassy Unveils Tsion Electric Cars at NEU 2026
Pastor Chris Oyakhilome unveils Tsion electric cars at NEU 2026, marking Christ Embassy's entry into auto manufacturing. Models include Passion, Falcon, Vision, and OG series.
Cement Price Rises by N5,700 as FCCPC Probes Manufacturers
Nigerians now pay up to N5,700 more per 50kg cement bag than in January 2026, as the FCCPC launches a formal investigation into suspected price manipulation by major manufacturers.
FTN Cocoa Appoints Wale Jubril as Board Chair After Chairman's Death
FTN Cocoa Processors appoints Wale Jubril as new board chairman, succeeding late Chief Olusegun Osuntokun, following his passing in July 2026.
NGX Extends Losses as Investors Take Profit, Market Cap Drops N545bn
The Nigerian Exchange extended losses for a second day, with market capitalization dropping N545 billion to N155.973 trillion as investors took profits in banking and other key sectors.
UAE Sets AED 20 Financial Security Deposit for Foreigners' Residency
The UAE has set the financial security deposit for foreigners' residency permits at AED 20 (about N7,346), as published on its official website, clarifying a key cost for applicants.
Miskay Redeems N824.2m Commercial Paper, Boosts Market Record
Miskay strengthens its capital market track record with full redemption of its N824.2 million commercial paper, demonstrating financial discipline and enhancing investor confidence.
Investment Income Drives Insurance H1 2026 Profits
In H1 2026, Nigeria's insurance sector profits were driven by investment income, not core underwriting, according to Nairalytics data.
Cement Price Review: Dangote, BUA, Others Face FCCPC Probe
FCCPC's three-month probe finds possible cement price manipulation despite excess capacity; prices hit N15,000 per bag by July.
Dangote Refinery Secures $1bn Underwriting Ahead of IPO
Dangote Refinery has secured a $1 billion underwriting programme from a consortium of banks, a key step toward its planned IPO, according to sources.
Standard Bank Eyes OPay Stake Ahead of $4B IPO
Standard Bank is in talks to acquire a stake in African fintech OPay ahead of its planned $4 billion IPO, according to sources familiar with the matter.
Nigeria's N5tn Football Economy Built for Foreign Giants
Nigeria's football economy is projected to hit N5 trillion, but local investors are sidelined as foreign firms dominate, according to a new report.
Access Holdings Gets NGX Approval to Delay H1 Results to Sept 30
Access Holdings has secured NGX approval to release its H1 2026 audited results by September 30, extending the original deadline to allow for completion of its audit process.
Six Insurers Miss NAICOM Recapitalisation Deadline
Six Nigerian insurers failed to meet the NAICOM recapitalisation deadline and now face an uncertain future, according to a report by Nairametrics.
Chelsea Ownership Twist: Boehly, Walter in Talks to Sell Stakes
Todd Boehly and Mark Walter have held talks about selling their 12.8% stakes in Chelsea to Clearlake Capital, which could net each around £640m based on a £5bn valuation.
MultiChoice Nigeria: Canal+ Won't Change DStv, GOtv Local Decisions
MultiChoice Nigeria reassures that Canal+ acquisition won't alter local pricing, content, and channel packaging for DStv and GOtv, with CEO Kemi Omotosho emphasizing local leadership.
NNPC/FIRST E&P Launches Multi-Year Grant for NGOs
The NNPC Limited/FIRST E&P JV launched 'Impact FIRST: Heritage', a multi-year grant programme for five Nigerian NGOs, building on the 2024 Impact FIRST initiative that supported 15 NGOs and impacted over 20,000 beneficiaries.
Geregu Power Appoints Mohammed Jaoji Acting CEO
Geregu Power Plc names Mohammed Jaoji acting CEO from August 17, pending NERC approval, succeeding Sean Manley.
Germany Sets €45,630 Salary Threshold for Experienced Worker Visa
Germany requires foreign workers to earn at least €45,630 gross annually for the experienced worker visa, equivalent to over N71 million, as per 2026 guidelines.
Ferrari's Luce Sells for Record $40M at Auction
Ferrari's first electric car, the Luce, sold for $40 million at a California auction, over 35 times its retail price, setting a new world record for a new car.
MTN Relaunches Lucky Jackpot: How to Win Cash Prizes
MTN Nigeria relaunched its Lucky Jackpot campaign, with over 1.4 million participants in the first season. Subscribers can enter by sending 'WIN' to 4445 to win cash prizes. The campaign runs for nine months in partnership with Yellow Dots Africa.
NNPC CEO Ojulari Has No Role in Oil Block Awards, Insiders Say
Industry insiders reject allegations linking NNPC CEO Bayo Ojulari to oil block awards, saying he has no statutory role and the claims are false and malicious.
Heirs Insurance H1 2026 Profit N9.53bn, Premium Up 89%
Heirs Insurance Group posted N9.53bn profit in H1 2026, with gross premium surging 89% to N63.7bn, driven by life and general business growth.
Heirs Insurance Profit Falls 15% to N9.53bn Despite 89% Premium Rise
Heirs Insurance Group's profit after tax fell 15% to N9.53 billion in H1 2026, despite an 89% surge in gross premiums to N68.4 billion, driven by higher claims.
Terra Industries Raises $18M, Closes Seed at $52M
Terra Industries has raised an additional $18 million, bringing its total seed funding to $52 million, according to a company announcement.
Integrated Indigo Wins Agency of the Year at 2026 Awards (17.08.2026)
Integrated Indigo has been named Agency of the Year at the 2026 National Spokespersons Awards, recognizing its excellence in communication and public relations.
Nigeria Police Salary by Rank: Full Breakdown for 2026
Nigerian police salaries range from ₦10,114 for trainees to over ₦938,578 for the Inspector General. Recent reforms added a 20% allowance and tax waivers to boost junior officers' pay.
NGX Postpones New Pricing Rules Days After Confirming Take-Off
NGX has postponed the implementation of new pricing rules, originally set for Monday, days after confirming the take-off. The exchange cited the need for further stakeholder engagement.
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