Investors Lose N77bn as Equity Market Dips   The Nigerian equity market reversed its previous gains, recording a N77bn loss at the close of trading on Tuesday as investor sentiment weakened. The market capitalisation of the Nigerian Exchange Limited declined to N67.02tn from N67.1tn recorded in the...

‎Naira Appreciates Further, Sells N1,490/$1 in Parallel Market ‎The naira further appreciated against the U.S. dollar in the black market on Wednesday, February 26, 2025, trading at N1,490/$1. ‎This marks a N5 gain compared to the previous day's rate of N1,495/$1, reflecting a slight improvement in...

FG Owing GenCos, DisCos N4trn, Power Minister Discloses The Minister of Power, Adebayo Adelabu, has disclosed that the federal government is owing electricity generation companies (GenCos) and electricity distribution companies (DisCos) over N4 trillion in electricity subsidy. The minister made the disclosure on Thursday in Abuja...

World Bank to Loan Nigeria $2.2bn in 2025 The Federal Government of Nigeria is set to receive total of $2.2 billion in new loans in 2025. According to the World Bank’s project list, the $2.2 billion will be allocated across six different projects. The global financial institution...

How FG, IOCs Agreement Limits Crude Allocation to Local Refiners The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has revealed the reason why International Oil Companies are finding it difficult to allocate crude to domestic refiners, including the Dangote Petroleum Refinery under...

Nigeria’s Banking Fraud Hits N52bn in 4yrs – NIBSS Fraud transactions in Nigeria’s banking system have tripled over the past four years from N11 billion to N52 billion, statistics from the Nigeria Inter-Bank Settlement System (NIBSS) has shown. An analysis published by the NIBSS on Wednesday...