Customs Slaps Banks with Penalty for Late Revenue Remittance
The Nigeria Customs Service warns designated banks over delayed remittance of collected revenue. Defaulters face a penalty interest of 3% above NIBOR. Details inside.
Category : Business
Customs Imposes 3% Penalty on Banks for Late Duty Remittances
The Nigeria Customs Service announces a 3% penalty for banks delaying stamp duty remittances. Defaulters risk public exposure and deactivation from the B'odogwu platform. Read the full details.
Trump Media Merges with Fusion Firm in $6B Deal
Trump Media announces a $6 billion merger with TAE Technologies, pivoting to fusion energy to power AI. Share price surges 25%. Full details inside.
CGIN Bill to Reposition ICSAN, Expand Professionalism
ICSAN President Uto Ukpanah reveals the Chartered Governance Institute of Nigeria Bill will reposition the institute and expand members' roles in governance, compliance, and risk oversight. Learn about the progress.
Kebbi Govt Downplays Insecurity, Woos Investors
Kebbi State Government assures investors of a stable environment for business, highlighting strong regulations and key sectors like energy and agriculture. Dr. Mohamed Kamba says insecurity is exaggerated.
UAE invests $6bn in Africa's tourism sector
The UAE announces a massive $6 billion investment plan for African tourism development, targeting aviation, infrastructure, and digital projects. Learn how this partnership aims to create thousands of jobs.
US Inflation Cools Unexpectedly in November
US consumer inflation slowed to 2.7% in November, below forecasts. The data, delayed by a government shutdown, shows easing price pressures despite earlier tariff impacts. Read the full analysis.
Ibom Air International Flights Start April 2026
Ibom Air is set to commence international operations from Victor Attah Airport, Uyo, in April 2026. The move follows key upgrades and marks a major milestone for Akwa Ibom State's aviation sector.
Bank of England Cuts Interest Rate to 3.75%
The Bank of England has cut its key interest rate to 3.75% after UK inflation eased faster than expected. Governor Andrew Bailey confirmed the move, marking the sixth reduction since August 2024. Read more for the full analysis.
FG Issues Bakassi Deep Seaport Compliance Certificate
Cross River Governor Bassey Otu receives Federal Government's compliance certificate for the $3.5 billion Bakassi Deep Seaport, hailing it as a game-changer for Nigeria's maritime economy. Read more.
Tinubu mourns death of engineer, philanthropist Michael Ponle
President Bola Tinubu has expressed deep sorrow over the passing of Chief Michael Abiodun Ponle, the 86-year-old Chairman of Miccom Wires and Cable. Read about his legacy in engineering and tourism.
EKEDC Accuses Hotels, Wealthy of Major Power Theft
EKEDC CEO reveals high-income residents and hotels are major culprits of electricity theft, worsening Nigeria's power crisis. Discover the impact and the smart metering solution.
Woman invests N650k in solar for drinks business, not home
A Nigerian businesswoman's decision to install a N650,000 solar system to power her cold drink freezer, rather than renovate her old house, has ignited a major debate online. Discover the full story and public reactions.
Farmers Block Brussels in Protest Against EU-Mercosur Trade Deal
Hundreds of farmers and over 150 tractors clogged Brussels streets, protesting the EU-Mercosur trade pact they fear will flood Europe with cheaper South American goods. Read the full story on the high-stakes summit clash.
Turbulence Sparks Prayer on London-Abuja Flight
A viral video shows passengers praying during severe turbulence on a London to Abuja flight. Witness the tense mid-air moment and the collective reaction of travelers. Watch the footage now.
Federal Government Imposes Total Ban on Wood Export
Nigeria bans all wood exports to fight illegal logging. Minister Balarabe Lawal announces the policy, citing environmental protection. Read the full details and implications.
Smartphone Prices Crash as Naira Stabilises, Shipments Grow
Nigeria's smartphone market rebounds as naira stability lowers prices for iPhone, Samsung, Tecno, and others. Shipments rise, making Nigeria a bright spot in Africa's tech story. Read more.
Naira Falls at Official, Black Market Amid Thin Dollar Supply
The Naira depreciated against the US dollar, closing at N1,455.49/$1 in the official market. Pressure mounts due to reduced FX inflows and limited CBN intervention. Get the latest rates and analysis.
Ogun Speaker Lauds Dangote for Job Creation
Ogun Speaker Daisi Elemide commended Aliko Dangote for job creation at Dangote Cement's Community Day, where N15.72m scholarships were awarded. He urged other wealthy Nigerians to invest locally to curb 'japa'.
Final 24 Hours for Ellah Lakes' ₦235bn Investment Offer
Ellah Lakes' ₦235 billion share offer closes Dec 19. Invest at ₦12.50/share in Nigeria's integrated agro-industrial transformation before valuation shifts. Act now!
BP Appoints First Female CEO in Historic Move
British energy giant BP names industry veteran Meg O'Neill as its new CEO, marking the first external and female appointment in its 116-year history. Discover the strategic shift behind this major leadership change.
Passenger Tried to Open Plane Door Mid-Flight
A passenger on Alaska Airlines Flight 87 attempted to open a cabin door mid-air, leading to restraint by fellow travellers and his arrest. Read the shocking details of the incident.
Nigeria's Debt, Salaries Exceed Revenue in 2025
Nigeria's Federal Government spent more on debt servicing and salaries than it earned in 2025's first seven months, with a N10.19tn revenue shortfall. Oil earnings slumped over 60%. Read the full analysis.
Man Confirms Dangote's N739 Fuel Price in Lagos
A Nigerian man shares his experience confirming the new N739 per litre fuel price at an MRS station in Lagos after Dangote's announcement. Read his story and details.
Senate Approves CBN 2026 Exchange Rate, Cuts Oil Price
Nigeria's Senate has approved the CBN's exchange rate projection of N1,512/$ for 2026 and reduced the oil price benchmark to $60 per barrel. Get the full details on the 2026-2028 MTEF framework.
Tax ID Enforcement 2026: 12 Facts for Nigerians
Confused about the Tax ID enforcement starting January 2026? Get the clear facts on who needs it, how to register, and what it means for your bank account. Don't panic, get informed.
Tinubu Nominates Oritsemeyiwa Eyesan as NUPRC CEO
President Bola Tinubu nominates Oritsemeyiwa Eyesan, an NNPC veteran with 33 years of experience, as the new Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Discover her career journey and strategic impact on Nigeria's oi
Nigerian Business Leaders Meet Zambian President for Investment Talks
Nigerian business leaders, including Stanel's Dr. Stanley Uzochukwu and Flutterwave's Olugbenga Agboola, held talks with Zambian President Hakainde Hichilema to explore strategic investments and regional economic cooperation. Read more.
EU-Mercosur Trade Deal Faces Crucial Vote
A landmark EU-Mercosur trade deal, 20 years in the making, faces a crunch vote. While promising a massive free-trade zone, it sparks fierce protests from European farmers fearing cheap imports. Read the full details.
Asian Markets Sink on AI Bubble Fears, Tracking Wall Street
Asian markets dropped Thursday, mirroring a Wall Street sell-off fueled by fears of an AI investment bubble. Tech giants tumbled as oil prices rose amid Venezuela tensions. Get the latest market analysis.
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