The Federal High Court Lagos has ordered interim administration for Green Energy International Limited and Lekoil Oil & Gas Investments Limited following their alleged failure to repay a $25.5 million debt to a joint venture partner. Presiding judge, Ambrose Allagoa, granted the order after hearing an ex-parte application filed by H-PTP Energy Services Limited, which…
The Economic and Financial Crimes Commission (EFCC) on Monday interrogated former Kaduna State governor, Nasir El-Rufai, over alleged fraud linked to his administration between 2015 and 2023. El-Rufai, a chieftain of the African Democratic Congress (ADC), reportedly honoured the commission’s invitation days after his legal team confirmed he would present himself to investigators. The development…
By Adeyemi David The Centre for the Promotion of Private Enterprise (CPPE) has said Nigeria’s inflation decline to 15.10 percent in January points to a significant shift toward macroeconomic stabilisation, offering relief for households and renewed confidence for investors. Founder of the CPPE, Muda Yusuf, made the assertion in a statement issued Monday in Lagos…
By Adeyemi David The Nigerian Exchange Limited (NGX) opened the week on a bullish note, with market capitalisation rising by N5.1 trillion to reflect a 4.36 percent gain at the close of trading on Monday. The surge was largely driven by heightened investor interest in high-capitalised equities, including ABC Transport, Beta Glass, Ikeja Hotel, Oando…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has alerted the public to the activities of fraudulent individuals claiming to offer contracts on behalf of the Commission, warning Nigerians to be cautious to avoid falling victim to scams. In a statement signed by its Head of Corporate Communication and Media, Eniola Akinkuotu, the Commission disclosed that…
The National Bureau of Statistics (NBS) has reported that Nigeria’s telecommunications industry sustained strong performance in the second quarter of 2025, with active voice subscriptions reaching 171,730,06, representing a 0.48 percent increase from the 170,904,257 recorded in the corresponding period of 2024. The figures are contained in the NBS Telecoms Data: Active Voice and Internet,…
By Adeyemi David Ahead of 2026 deadline, Sterling Financial Holdings Company Plc has announced that its core banking subsidiaries, Sterling Bank and The Alternative Bank, have been fully recapitalised in compliance with revised minimum capital requirements set by the Central Bank of Nigeria (CBN). The confirmation follows final regulatory approvals received in January 2026, with…
More trouble as the Federal Government filed criminal charges against former Kaduna State Governor, Nasir El-Rufai, over the alleged interception of the phone communications of the National Security Adviser, Nuhu Ribadu. The Court documents show that the case marked FHC/ABJ/CR/99/2026, was submitted at the Federal High Court in Abuja. The Federal Republic of Nigeria is…
….As food inflation hits single digit first time in 10 yrs … Naira hits N1,390 on black market as gap closes 2.5% …. Nigeria records strongest foreign inflows in five years on reforms By Adeyemi David Nigeria’s headline inflation rate moderated slightly to 15.10 per cent in January 2026, down from 15.15 per cent recorded…
By Adeyemi David Nigeria has pledged full infrastructural and operational support for the Combined Maritime Task Force in the Gulf of Guinea as part of efforts to strengthen regional security and tackle transnational crimes. President Bola Tinubu made the commitment during the 39th Ordinary Session of the Assembly of Heads of State and Government of…
