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business

Naira Hits 17-Year Reserve High as Currency Strengthens to N1,358/$

The naira strengthened to N1,358.25/$ as Nigeria's external reserves climbed to $52.25 billion, their highest level in 17 years.

Staff Reporter · August 15, 2026
business

SEC Freezes Assets of Six Individuals, Three Firms Over Terrorism Financing

Nigeria's SEC has ordered capital market operators to freeze assets of six individuals and three Bureau de Change firms designated as terrorist financiers linked to ISWAP.

Staff Reporter · August 15, 2026
business

Tinubu Signs NPERA Bill Into Law, Creating Dedicated Port Regulator

President Tinubu has assented to the Nigerian Ports Economic Regulatory Agency Bill, establishing a dedicated economic regulator for the port sector after more than a decade of delays.

Staff Reporter · August 14, 2026
business

Nigerian Stock Market Sheds N1.17tn as Bearish Trading Intensifies

The domestic equities market closed lower as sell-offs in MTN Nigeria and 25 other stocks dragged the All-Share Index down 0.73%, wiping N1.17 trillion off market capitalisation.

Staff Reporter · August 13, 2026
business

Nigeria Fails US Fiscal Transparency Test for Second Consecutive Year

The US Department of State says Nigeria made no significant progress on fiscal transparency in 2025, placing it among 53 countries judged to have made no measurable improvement.

Staff Reporter · August 13, 2026
business

EFCC Recovers N115bn in NDDC Levies From Oil Companies

The EFCC has recovered over N115 billion and $81 million in unpaid statutory levies owed the Niger Delta Development Commission by 24 oil companies, clearing 19 others of liability.

Staff Reporter · August 13, 2026
business

Dangote Refinery Alone Can't Meet Africa's Fuel Needs, Says FG

The Federal Government is urging fresh investment in Nigeria's refining sector, saying the Dangote Refinery cannot single-handedly satisfy Africa's growing demand for refined fuel.

Staff Reporter · August 13, 2026
business

Nigerian Startup Funding Crashes 96% in July After June's $115m Surge

Nigerian startups raised just $4.9 million in July, a 96% collapse from June's $115.2 million haul, as big investors pulled back sharply.

Staff Reporter · August 13, 2026
business

Tinubu, Shettima to Headline CIBN Banking Conference in September

President Tinubu, VP Shettima, and CBN Governor Cardoso will headline the Chartered Institute of Bankers of Nigeria's 19th Annual Banking and Finance Conference in Abuja.

Staff Reporter · August 13, 2026