Business & Economy - Page 16

By Richard Benjamin Financial experts have urged the Central Bank of Nigeria (CBN) to sustain strict regulatory oversight following the revocation of the operating licences of 46 microfinance banks, effective July 1, 2026. The CBN announced the revocation, citing regulatory breaches including

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol for the second time within four days, bringing fresh relief to motorists in parts of the country. A check at some NNPCL filling stations in Abuja showed that

Some tomato farmers in Kazaure, Jigawa have advocated establishment of a tomato processing plant to encourage productivity and guard against post harvest losses. They also identified rising production costs, pests and diseases, unstable prices, and inadequate storage facilities as major challenges affecting

The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme, despite growing public concern over the country’s rising debt profile and persistent calls for the Federal Government to reduce its

The Nigerian Insurers Association (NIA) has unveiled a podcast studio to improve public engagement and insurance education. The initiative also aims to strengthen digital communication and promote better understanding of insurance services nationwide. Speaking at the ceremony, NIA Chairman, Mr Kunle Ahmed,

The Nigerian stock market opened the week on a bearish note, extending its losing streak as investors lost N2.341 trillion. Profit-taking in large- and mid-cap stocks, including Learn Africa, Unilever, MTN Nigeria, AustinLaz, Abbey Mortgage Bank, and 42 other equities, pushed the

The Federal Executive Council (FEC) on Monday approved financing packages worth billions of dollars and naira. The funds are targeted at transportation, agriculture, power, infrastructure and micro, small and medium-sized enterprises. The approvals were announced by the Minister of Finance and Coordinating

​The Economic and Financial Crimes Commission (EFCC) has recovered ₦38.66 billion in cash and assets linked to high-level corruption within public refinery maintenance contracts, under the leadership of the agency’s Executive Chairman, Ola Olukoyede. The landmark recovery follows a months-long, covert investigation

Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, has directed petroleum marketers to immediately reflect the recent decline in global oil prices by reducing the pump prices of Premium Motor Spirit (PMS) and other petroleum products. Lokpobiri, gave the directive at

By Victor Ogiemwonyi A New Era of Global Alignment On June 1st, 2026, the Nigerian Exchange (NGX) implemented a T+1 settlement cycle, meaning all trades in our Stock market are now settled within 24 hours. This milestone came shortly after trading hours