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Airtime Borrowing Disrupted as MTN Complies with New Lending Regulations

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Lagos Millions of Nigerians who rely on borrowed airtime and data are facing disruption after MTN Nigeria announced the suspension of its Xtratime service. The decision, disclosed on Thursday, follows new regulations introduced by the Federal Competition and Consumer Protection Commission (FCCPC) requiring stricter licensing and compliance for digital lending services. MTN said the temporary

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IMF Chief Urges Caution as Energy Prices Surge Globally

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Washington DC, United States The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the global economy is facing a major shock triggered by the ongoing Middle East conflict, with rising energy prices expected to affect countries worldwide. Speaking in Washington DC during the IMF’s spring meetings, Georgieva said the disruption in

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Malema Sentenced to Five Years, Political Fallout Looms

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Johannesburg — , leader of the (EFF), has been sentenced to five years in prison, in a ruling that is expected to have significant political repercussions. The sentencing marks a major development for one of South Africa’s most prominent opposition figures, known for his strong stance on economic redistribution and land reform. While full details

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Tinubu Approves ₦3.3 Trillion Power Sector Debt Settlement — But GenCos Say the Real Figure Is Twice That

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The Federal Government announced a ₦3.3 trillion settlement plan for a decade of power sector arrears on Sunday, with 15 generation companies already signed on and ₦223 billion disbursed. But the Association of Power Generation Companies insists the actual debt stands at over ₦6 trillion — raising fundamental questions about who verified the figures, and

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Seplat Workers Begin Indefinite Strike, Raising Risks to Nigeria’s Oil Output

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Lagos — Workers at have embarked on an indefinite strike, introducing fresh uncertainty into Nigeria’s oil production outlook at a moment when global prices are rising and the country is under pressure to maximise output. The industrial action, which commenced on Friday, affects one of Nigeria’s most important independent producers, with operations concentrated in key

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Dangote Refinery Begins Export of Refined Products

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Lagos — The Dangote Petroleum Refinery has commenced the export of refined petroleum products, marking a significant milestone in Nigeria’s downstream oil sector. The development signals a shift in Nigeria’s long-standing position as a net importer of refined fuel, as the country begins to supply petroleum products to regional and international markets. Industry analysts say

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Naira Holds Steady at Q2 Open on Strong Reserves, Tight Policy

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Abuja — The Nigerian naira has started the second quarter of 2026 on a stable note, trading within a controlled range against the U.S. dollar as macroeconomic buffers strengthen. External reserves, according to the Central Bank of Nigeria (CBN), remain robust at about $49.40 billion, providing sufficient cover for foreign exchange interventions and market stability.The

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