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Austin Laz Founder Sells N227.76m Shares Amid Firm’s Revenue Woes

Austin Asimonye, the founder and chief executive officer (CEO) of Austin Laz & Co. has reduced his investment in the company amid the firm’s revenue woes. In a director dealing document released to the Nigerian Exchange (NGX) on Thursday, Austin Laz said

January 16, 2026

Forex Transactions Decline By $89.61 Million As Dollar Rate Surges

Business·Top Stories

Currency Traders Reduce Dollar Rate To N1,417 In Official Market

On Friday, January 15, the naira appreciated against the United States dollar (USD) by 0.14 percent as the foreign exchange rate for both currencies closed at N1,417.95 kobo/$1 in the Nigerian foreign exchange market (NFEM). Data provided by the Central Bank of

January 16, 2026

Nigerian Stock Market Record Highest Level In 15-years, Equity Cap Up N59.90bn

Business·Top Stories

Nigerian Stock Market Rebounds With N30.45bn Gain

The all-share index (ASI) increased by 0.23 percent on Friday, January 16, leading to the market capitalisation of the Nigerian Exchange (NGX) rising by N30.45 billion. It was gathered that the ASI expanded by 72.21 basis points, from 166,057.29 index recorded on

January 16, 2026

Business·Finance & Economy·News

Sterling Bank Steps Up Environmental Sustainability Efforts

Nigerian banks are increasingly prioritizing environmental sustainability and climate action, with Sterling Bank leading the charge. The bank, in collaboration with Sterling One Foundation, Sunbeth, and government agencies, organized a nationwide Environmental Cleanup and Beach Adoption exercise, covering 17 states and engaging

January 16, 2026

Business·Finance & Economy·News

Banks Lead the Charge: Fidelity Bank’s Tree Planting Initiative Signals Shift in Financing Norms

Fidelity Bank Plc has taken a significant step towards environmental preservation and sustainable development by partnering with Greenfingers Wildlife Initiative to plant trees at Elegushi Beach, Lekki, Lagos. This initiative, part of the bank’s Corporate Social Responsibility (CSR) programme, Fidelity Helping Hands

January 16, 2026

Business·Top Stories

Five Real Estate Stocks That Delivered High Returns To Investors In 2025

Shareholders of five real estate companies on the Nigerian Exchange (NGX), also known as the stock market, gained N75.25 billion between January 2, 2025, and December 31, 2025. There are seven real estate companies listed on the NGX: UPDC Plc, UPDC Real

January 15, 2026

Naira Falls Against Dollar In Black Market As Demand Increases In FX Market

Business·Top Stories

Dollar Trades At N1,420/$1, N1,484/$1 In Official, Black Markets

In the Nigerian foreign exchange market (NFEM), also known as the official window, the dollar recorded a N0.5 kobo decline, after trading at N1,420/$1 on Thursday, January 15. The foreign exchange (FX) rate for the United States currency increased from the N1,419.5

January 15, 2026

FIRS Urges Non-Domestic Oil Shipping Companies To Comply With Tax Laws In Nigeria

Business·News·Top Stories

NRS Clarifies: VAT on Banking Fees Not Newly Introduced

The Nigeria Revenue Service (NRS) has dismissed media reports suggesting that a new Value Added Tax (VAT) on banking services and electronic transfers has been introduced, describing such claims as misleading. In a press release, the NRS emphasized that VAT has long

January 15, 2026

Business·News·Top Stories

7.5% VAT Hits Mobile Transfers, USSD Payments in Nigeria Starting January 19

Nigerians sending money through mobile banking or USSD platforms will, from Monday, January 19, 2026, incur a 7.5 percent Value Added Tax (VAT) on service charges, following a directive issued by the Federal Government. The instruction affects banks and financial technology companies,

January 15, 2026

Business·Top Stories

Caverton, Ikeja Hotel Halt NGX’s Bullish Run, Market Cap Drops By N457bn

On Thursday, January 15, the market capitalisation of the Nigerian Exchange (NGX), also known as the stock market, decreased to N106.32 trillion, from N106.78 trillion recorded on Wednesday. This represents a N457.58 billion decline in the market capitalisation, as the all-share index

January 15, 2026

Business·Celebrity News·News·Sports

Nigeria’s football authorities have threatened legal action against telecoms company Airtel Nigeria, accusing it of unauthorised marketing linked to the Super Eagles’ Africa Cup of Nations campaign. The Nigeria Football Federation (NFF) says Airtel engaged in what it described as “ambush marketing”

January 15, 2026

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Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Nigeria’s customs authority has introduced new rules for courier companies

Behind the Geregu Power Sale: Politics and a $750m Deal

The sale of Geregu Power, one of Nigeria’s largest electricity

Recapitalisation: UBA Extends Deadline For Rights Issue

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

United Bank for Africa (UBA) has successfully concluded its rights

GivTrade Secures UAE SCA Category 5 Licence

GivTrade, an international multi-asset brokerage providing access to global markets

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Business

Austin Laz Founder Sells N227.76m Shares Amid Firm’s Revenue Woes

Currency Traders Reduce Dollar Rate To N1,417 In Official Market

Nigerian Stock Market Rebounds With N30.45bn Gain

Sterling Bank Steps Up Environmental Sustainability Efforts

Banks Lead the Charge: Fidelity Bank’s Tree Planting Initiative Signals Shift in Financing Norms

Five Real Estate Stocks That Delivered High Returns To Investors In 2025

Dollar Trades At N1,420/$1, N1,484/$1 In Official, Black Markets

NRS Clarifies: VAT on Banking Fees Not Newly Introduced

7.5% VAT Hits Mobile Transfers, USSD Payments in Nigeria Starting January 19

Caverton, Ikeja Hotel Halt NGX’s Bullish Run, Market Cap Drops By N457bn

Featured Stories

Sterling Bank Steps Up Environmental Sustainability Efforts

Banks Lead the Charge: Fidelity Bank’s Tree Planting Initiative Signals Shift in Financing Norms

Nigerian Guild of Editors Mourns Yakubu Mohammed, Dan Agbese

AFCON 2025: ‘Morocco Is Beatable on Their Own Soil — I Was There on August 28, 1983’

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Austin Laz Founder Sells N227.76m Shares Amid Firm’s Revenue Woes

Currency Traders Reduce Dollar Rate To N1,417 In Official Market

Nigerian Stock Market Rebounds With N30.45bn Gain

Retired Nigerian Soldiers Scramble for Food

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Behind the Geregu Power Sale: Politics and a $750m Deal

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

GivTrade Secures UAE SCA Category 5 Licence

Austin Laz Founder Sells N227.76m Shares Amid Firm’s Revenue Woes

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