By Seun Ibiyemi Nigeria has no immediate plans to approach the International Monetary Fund (IMF) for financial assistance, the Minister of Finance, Wale Edun, has said. Edun disclosed this on Thursday during a briefing of African finance ministers at the IMF/World Bank Annual Meetings in Washington, noting that the country’s ongoing domestic economic reforms were…
MTN Nigeria Communications Plc has temporarily suspended its airtime and data lending service, “Xtratime”, following the introduction of new regulatory requirements by the Federal Competition and Consumer Protection Commission (FCCPC). The telecom operator disclosed the development in a corporate filing to the Nigerian Exchange Limited (NGX) on Thursday. According to the company, the suspension is…
The Nigerian stock market sustained its bullish trajectory on Thursday, with investors recording a gain of N1.663 trillion as market capitalisation climbed to N136.435 trillion. The rally was driven by price appreciation in several equities, including Guinea Insurance, Trans-Nationwide Express, Aradel, Ecobank Transnational Incorporated and Daar Communications, alongside over 40 other stocks. Market capitalisation rose…
By Seun Ibiyemi The Major Energies Marketers Association of Nigeria (MEMAN) has attributed the spike in aviation fuel prices to geopolitical tensions in the Middle East, warning that the development is straining airlines and threatening the stability of the aviation sector. In a letter issued in Lagos and signed by its Executive Secretary and Chief…
By Seun Ibiyemi Ecobank Transnational Incorporated has announced a final dividend of 0.16 US cents per share for the 2025 financial year, marking its first shareholder payout since 2023 and underscoring a rebound in earnings performance. The dividend, which is subject to applicable withholding tax and shareholder approval, translates to approximately N2.15 per share at…
By Seun Ibiyemi The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has partnered with the Bureau of Public Procurement (BPP) to raise its procurement compliance level to over 95 per cent, as part of efforts to enhance transparency and accountability in its operations. The commitment was made by the Commission Chief Executive, Oritsemeyewa Eyesan, during a…
By Seun Ibiyemi A Federal Capital Territory (FCT) High Court in Abuja on Thursday issued a warrant of arrest against former Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, and the ministry’s Permanent Secretary, Bashir Nura Alkali, over an alleged fraud involving $1.3 million and N746.6 million. Justice Jude Onwuegbuzie gave…
By Seun Ibiyemi The Minister of Marine and Blue Economy, Adegboyega Oyetola, has commissioned a new multipurpose building for the Institute of Maritime Studies at the University of Lagos, reaffirming the Federal Government’s commitment to developing Nigeria’s blue economy. The facility, located in Lagos, was donated by the Nigerian Maritime Administration and Safety Agency and…
By Seun Ibiyemi The Chairman of the Governing Board of the Nigerian Shippers’ Council, Shehu Shema, has called on port service providers to intensify efforts toward positioning Nigeria as a leading maritime hub in the region. Shema made the call during a courtesy visit by members of the council’s board and management team, led by…
By Seun Ibiyemi A new digital marketplace, One Universe, has officially launched in Lagos, offering a platform designed to simplify how people find, hire and pay for trusted service providers. The platform, now available on the Apple App Store and Google Play Store, aims to address the common challenge of locating reliable professionals by combining…
