Yusuf Othman, President of the National Association of Road Transport Owners (NARTO), has attributed the naira’s recent performance against the U.S. dollar to a decline in the need to import petroleum products. He explained that the local availability of petroleum products, combined with the fact that they can be purchased in naira, has reduced demand…
The stake held by the Chairman of Heirs Group, Mr. Tony O. Elumelu, in Seplat Energy Plc is now worth approximately $1.28 billion. The investment is held indirectly through Heirs Energies Ltd and Heirs Holdings Ltd. This updated valuation is calculated using Seplat’s Tuesday, September 1, 2026 closing share price of N12,320.60 per share and…
According to a report published by Daily Post on Tuesday, September 1, 2026, former Vice President and presidential contender of the African Democratic Congress (ADC), Atiku Abubakar, questioned why Nigeria has been unable to sell Premium Motor Spirit (PMS) at prices between N441 and N872 per liter. He pointed out that countries such as the…
The Nigerian Aviation Handling Company Plc (NAHCO Aviance) has received a new five-year appointment to serve as the general sales agent for Air France-KLM in Nigeria. Under the agreement, NAHCO, acting through its subsidiary NAHCO Travel & Hospitality Limited, is authorized to market and sell tickets for the airline group throughout the Nigerian market. This…
Nigeria’s external reserves have risen to $53.2 billion, marking their highest level in nearly 18 years. The increase reflects stronger crude oil earnings, improved foreign exchange inflows, and more favorable conditions across the country’s external sector. Data from the Central Bank of Nigeria, CBN, indicated that the reserves reached $53.2 billion as of August 26….
Why would Google pay millions of dollars for data belonging to an airline that no longer operates? The answer may have less to do with aviation than with the broader race to develop AI systems capable of performing many kinds of office work. Google won a bankruptcy auction this month by offering $10 million for…
Standard Bank Group, a financial powerhouse recognized as Africa’s largest lender by asset size, is reportedly exploring the possibility of acquiring a significant stake in OPay, a prominent Nigerian fintech company. This potential investment is being considered in the lead-up to OPay’s anticipated initial public offering (IPO) on a United States stock exchange. According to…
Access Bank Plc has initiated legal proceedings at the Federal High Court in Lagos, seeking a court order to freeze a significant number of bank accounts. These accounts are reportedly linked to individuals and entities that are beneficiaries of an alleged unauthorized financial maneuver, involving the siphoning of N1.34 billion from the accounts of four…
Femi Otedola, a highly influential and prominent billionaire businessman renowned for his savvy investments and strategic insights in the financial sector, has recently found himself in the spotlight following his substantial acquisition of shares in the financial services conglomerate, First HoldCo Plc. This latest move has culminated in an astonishing investment that amounts to a…
In a significant event for the world of Indian cinema, acclaimed actor Priyanka Chopra Jonas has officially revealed the cover of “Empress: The Definitive Biography of Sridevi.” This forthcoming book promises a comprehensive exploration of the late, legendary actress Sridevi’s illustrious career, which spanned an impressive five decades, and her indelible mark on the industry….
In a significant move to enhance digital infrastructure and bolster high-speed internet access, Airtel Nigeria has strategically deployed over 1,000 new 5G sites nationwide within the past year. This ambitious network expansion initiative is specifically targeted at major urban centers, aiming to accelerate the availability of cutting-edge 5G connectivity. This concerted build-out effort is a…
A significant advancement in Lagos State’s agricultural infrastructure was marked on August 13, 2026, with the official commissioning of the expansive Agege Mid-Level Agro-Produce Hub. As reported by Punch Newspapers, Governor Babajide Sanwo-Olu inaugurated this 7,000-square-metre facility, strategically located at Pen Cinema in Agege. The hub is anticipated to catalyze substantial economic activity, with projections…
Aradel Holdings Plc, a prominent indigenous energy company with integrated operations, has announced its strategic intention to commence the refining of petrol at its state-of-the-art modular refinery by the year 2027. This significant decision is a direct consequence of recent policy shifts within Nigeria’s oil and gas sector, specifically the removal of fuel subsidies and…
The United Arab Emirates (UAE) has officially stipulated the minimum monthly earnings that foreign nationals must achieve to satisfy the financial solvency criteria essential for obtaining a residency permit. This crucial financial benchmark, officially disseminated through the UAE government’s official online portal, is not uniform but rather bifurcated, contingent upon whether an applicant’s employer furnishes…
