Abuja, Nigeria The legal proceedings surrounding the controversial naira redesign have entered a critical phase, as a Federal Capital Territory (FCT) High Court has fixed 10 hearing days to conclude the trial of former Central Bank of Nigeria (CBN) governor Godwin Emefiele over alleged corruption linked to the currency overhaul. Justice Maryanne Anenih announced the
10 Days to Decide Emefiele’s Fate in Naira Redesign Case Read More »
Abuja Shell Plc Chief Executive Officer, Wael Sawan, has praised President Bola Ahmed Tinubu for restoring investor confidence in Nigeria and creating a policy environment that is once again attracting major global capital into the country’s oil and gas sector. Speaking during a high-level meeting with the President at the Presidential Villa in Abuja, Sawan
Shell CEO Commends Tinubu as Nigeria Eyes $20bn Fresh Energy Investments Read More »
Lagos A recent notice by the Lagos State Internal Revenue Service (LIRS) directing banks, employers, and other third parties to remit funds belonging to tax defaulters to the state government has triggered widespread public concern, confusion, and debate. Many Nigerians interpreted the directive as a new policy that allows government agencies to seize money from
Tax Law Explained: Why LIRS Can Direct Banks to Remit Funds of Tax Defaulters Read More »
Lagos Nigeria’s inflation rate is expected to average 16 per cent in 2026, according to Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company Limited, who says recent declines in inflation figures should be treated with caution, as they largely reflect a change in methodology rather than a sudden improvement in the economy. Rewane projected
New CPI Method Changes the Picture as Rewane Sees Inflation at 16% in 2026 Read More »
Abuja / Lagos Nigeria’s energy sector recorded mixed developments on Monday, with the Nigerian National Petroleum Company Limited (NNPC Ltd) confirming a new offshore oil discovery in the Niger Delta, even as the Dangote Petroleum Refinery raised petrol prices nationwide, underscoring the complex dynamics shaping the country’s oil and fuel markets. NNPC Ltd announced that
NNPC Confirms New Offshore Oil Discovery as Dangote Refinery Adjusts Petrol Prices Read More »
The European Union has formally approved a phased ban on Russian gas imports, setting a deadline of 2027 to end the bloc’s reliance on Moscow for energy and cementing one of its most consequential policy shifts since Russia’s full-scale invasion of Ukraine in 2022.The new law will halt imports of Russian liquefied natural gas (LNG)
Abuja The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Minister of Power, Adebayo Adelabu, and the Nigerian Bulk Electricity Trading Plc (NBET) over the alleged disappearance or mismanagement of ₦128 billion in public funds. The case, filed last Friday at the Federal High Court in Abuja under FHC/ABJ/CS/143/2026, seeks to
Power Sector Funds Under Scrutiny: SERAP Sues Minister Adelabu, NBET Read More »
NNPC Group Chief Executive Officer Bayo Ojulari says Shell Plc has committed to invest $20 billion in Nigeria over the next few years. Ojulari made the disclosure on Thursday after a courtesy visit by Shell’s delegation to the State House in Abuja. He described the commitment as a significant boost for Nigeria’s energy sector and
Shell to Commit $20bn Investment in Nigeria, Says NNPC Chief Read More »
Nigeria’s financial markets closed mixed on Thursday with equities easing slightly, fixed income marginally higher, and Exchange-Traded Products (ETPs) delivering the strongest performance of the day. Equity capitalization declined by 0.52 percent to ₦105.88 trillion, despite the benchmark All-Share Index firming to 166,256.83 points. Fixed income instruments advanced by 0.09 percent to ₦51.63 trillion, while
Equities Mixed as Market Cap Slips, ETPs Outperform Read More »
U.S. President Donald Trump on Wednesday withdrew a threat to impose tariffs on several allied nations over their stance on Greenland, saying he had reached the outlines of a deal with NATO concerning the island’s future. Trump announced the reversal on social media, citing an “understanding” following discussions with NATO Secretary-General Mark Rutte. He did
Trump Drops Tariff Threat After Reaching Outline of Greenland Deal With NATO Read More »
