By Seun Ibiyemi The Nigerian naira recorded a mild appreciation against the United States dollar on Thursday, supported by improved foreign exchange supply from investors, exporters, and oil companies, according to market data. The local currency traded around ₦1,356 per dollar in the official market, strengthening from about ₦1,374 recorded the previous week, reflecting continued…
By Seun Ibiyemi Optimus Bank Limited, one of Nigeria’s fast-emerging digital-driven financial institutions, has reported a sharp rise in profitability for the year ended December 31, 2025, underscoring both the strength of its rapid expansion strategy and the growing complexities that come with aggressive banking growth. The bank’s audited financial statements show profit before tax…
The Senate has passed the 2026 Electoral Act Amendment bill, with focus to provide jurisdiction of the court in handling pre-election matters. The passage followed presentation of report by the Committee on INEC by its Chairman Sen. Simon Lalong (APC-Plateau) at plenary on Thursday. Reports that the proposed amendment aims to address gaps, timelines and…
The Senate on Thursday confirmed the appointment of Rabiu Umar as Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The confirmation followed the presentation and consideration of a report by the Senate joint committees on Downstream Petroleum Sector and Gas during plenary in Abuja. Chairman of the Senate Committee on…
By Seun Ibiyemi FirstHoldCo Plc has opened the 2026 financial year with a powerful rebound, posting a 72 per cent year-on-year increase in profit before tax to N321 billion in the first quarter of 2026 from N186.47 billion in the corresponding period of 2025. The performance marks a significant turning point for the financial services…
The Nigeria Revenue Service (NRS) has announced the extension of its operations to Saturdays as part of efforts to support taxpayers using its newly launched tax administration platform, Rev360. The development becomes important as the service prepares for the June peak period for tax filing. The disclosure was contained in a statement signed by the…
By Seun Ibiyemi The House of Representatives on Thursday constituted an ad hoc committee to investigate debts allegedly owed to the Federal Government by state and non-state actors, agencies and parastatals within and outside Nigeria, amid growing concerns over the country’s rising public debt profile and weak revenue recovery efforts. The resolution followed the adoption…
By Sodiq Adelakun Fresh political defections have hit the House of Representatives as five lawmakers dumped their parties for the Nigeria Democratic Congress (NDC) and the African Democratic Congress (ADC) ahead of the 2027 general elections. Among the defectors is Mohammed Bello El-Rufai, son of former Kaduna State governor, Nasir El-Rufai, who officially left the…
Oluyinka Onigbinde, Assistant Editor of Shipping Position Daily, has emerged as the newly-elected President of the Maritime Reporters Association of Nigeria (MARAN), following a keenly-contested election held during the association’s elective congress. Onigbinde defeated veteran maritime journalist, Reverend John Iwori, by a margin of seven votes to clinch the presidency of the association.Yinka Onigbinde polled…
By Seun Ibiyemi Organisers of the upcoming Itori Trade Fair Season 3 have announced plans to bring together business owners, buyers, and emerging brands in what is expected to be one of the region’s biggest commercial networking events. The fair, organised by Nasiru Mariam Abiola, popularly known as Only One Lara, is aimed at creating…
