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Tinubu Constitutes Taskforce to Revamp Petroleum Industry

President Bola Tinubu has inaugurated a Presidential Petroleum Reform and Value Optimisation Taskforce to plan the next stage of reforms in Nigeria’s petroleum sector. Mr Fola Adeola, co-founder of Guaranty Trust Bank and founder of the Fate Foundation, was appointed chairman of

March 13, 2026

Business·News·Nigeria·Top Stories

Investigation Reveals 23 Damaged Components on Arik Air Flight

Nigeria’s air accident investigators said a passenger aircraft operated by Arik Air suffered damage to at least 23 components after an abnormal engine incident during a flight in February. In a preliminary report released on Friday, the Nigerian Safety Investigation Bureau said

March 13, 2026

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

Business·Top Stories

Naira Strengthens Against Dollar In Official Window, Black Market

The black market recorded N1,419.83 kobo per $1 as the foreign exchange (FX) rate for the United States dollar (USD) on Thursday, March 12. The USD rate decreased by N6.17 kobo or 0.43 percent from the N1,426 per $1 recorded in the black

March 13, 2026

Why CBN Retained Bencmark Interest Rate At 27.5%

Business·News·Nigeria

CBN Directs Banks to Deny Debtors New Loans

Central Bank of Nigeria has directed commercial banks to deny additional credit and certain banking services to large borrowers with non-performing loans, in a move aimed at strengthening credit discipline and reducing financial risks in the banking system. In a letter dated March 12,

March 13, 2026

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business·Top Stories

RT Briscoe Tops NGX Losers’ List, Guinness Among Gainers

The market capitalisation of the Nigerian Exchange (NGX) was N127.36 trillion on Friday, March 13, while the all-share index (ASI) closed at 198,407.3 ASI. Equity investors traded 591.04 million shares in 53,066 deals, valued at N35 billion on Friday. Top five gainers

March 13, 2026

Business·Top Stories

Financing Contracts’ Double-Digit Growth Helps Jaiz Bank Survive 353% Surge In Expenses

Jaiz Bank recorded over N102.07 billion gross earnings in 2025, up by 23.16 percent compared to the N82.87 billion generated in 2024, according to the company’s unaudited financial statements for 2025. In the financial statement, the company announced a N45,91 billion income

March 13, 2026

Business·News·Top Stories

UBA Business Series Highlights ‘Gen.W’ as Women Redefine Leadership, Enterprise

Africa’s Global Bank, United Bank for Africa (UBA) Plc, on Thursday hosted a new edition of its quarterly Business Series, bringing together female leaders and entrepreneurs to discuss the theme “Gen.W: The Evolved Woman.” The hybrid event, held at the bank’s headquarters

March 13, 2026

Business·Top Stories

Over N107bn Wiped Off NGX As UACN, Presco Shares Plunge

The value of the Nigerian Exchange (NGX), also known as the stock market, dropped to N125.75 trillion on Wednesday, March 11, below the N125.85 trillion reported on Tuesday, March 10. The N107.58 billion decrease was driven by a 0.08 percent decline in

March 12, 2026

Naira Ends Week With N30 Gain In Black Market: Hope For Naira?

Business·Top Stories

Dollar Trades At N1,426/$, Pound Sells At N1,926/£ In Black Market

The foreign exchange (FX) rate for the United States dollar (USD) dropped by N5.13 kobo to N1,426 per $1 in the black market, according to Naira Rates, the parallel market price aggregator, on Wednesday, March 11. According to the price aggregator, the

March 12, 2026

Business·Top Stories

Aliko Dangote’s Company Generates N152bn Revenue From Selling Salt

Nascon Allied Industries Plc (NASCON), a salt-producing company majorly owned by Aliko Dangote, generated N152.68 billion in revenue between January and December 2025, surpassing the N120.38 billion earned in 2024. The turnover grew by 27 percent, above the 21 percent year-on-year increase

March 12, 2026

Business·News·Top Stories·World News

Banking Disruptions Hit Two Major Iranian Lenders, Leaving Customers Unable to Access Services

Widespread disruptions have affected two of Iran’s largest financial institutions, leaving customers across the country unable to access online banking platforms, mobile applications and some electronic payment services. Customers of Bank Sepah and Bank Melli Iran began reporting problems early Wednesday, with

March 11, 2026

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Oil Production: Nigeria Again Exceeds OPEC Quota In 2025

6 Things Nigerians Should Know About the Current Oil Market Trends

The global oil market is once again at the centre

Nigeria Cooking Gas Price Jumps 40% Amid Us, Iran Crisis

Cooking gas prices in Nigeria have jumped about 40 percent

Dangote Cement Records 20% Increase in 2025 Revenue

Dangote Cement Plc reported a 20.3 percent rise in revenue

Aston Martin to Cut 20% of Workforce Over Rising Losses

British luxury carmaker Aston Martin has announced plans to reduce

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Business

Tinubu Constitutes Taskforce to Revamp Petroleum Industry

Investigation Reveals 23 Damaged Components on Arik Air Flight

Naira Strengthens Against Dollar In Official Window, Black Market

CBN Directs Banks to Deny Debtors New Loans

RT Briscoe Tops NGX Losers’ List, Guinness Among Gainers

Financing Contracts’ Double-Digit Growth Helps Jaiz Bank Survive 353% Surge In Expenses

UBA Business Series Highlights ‘Gen.W’ as Women Redefine Leadership, Enterprise

Over N107bn Wiped Off NGX As UACN, Presco Shares Plunge

Dollar Trades At N1,426/$, Pound Sells At N1,926/£ In Black Market

Aliko Dangote’s Company Generates N152bn Revenue From Selling Salt

Banking Disruptions Hit Two Major Iranian Lenders, Leaving Customers Unable to Access Services

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FG, States, LGs Share N1.894 Trillion Federation Allocation for February

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Tinubu Constitutes Taskforce to Revamp Petroleum Industry

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Nigeria Cooking Gas Price Jumps 40% Amid Us, Iran Crisis

Dangote Cement Records 20% Increase in 2025 Revenue

Aston Martin to Cut 20% of Workforce Over Rising Losses

FG, States, LGs Share N1.894 Trillion Federation Allocation for February

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