Xenophobia: Nigerians Seek to Leave South Africa
Over 130 Nigerians have already asked for help to leave the country. This group wants…
Xenophobia: Nigerians Seek to Leave South Africa
Over 130 Nigerians have already asked for help to leave the country. This group wants to fly home after a week of tension in Johannesburg. The Ministry of Foreign Affairs expects this number to rise as the marches continue through Friday. These demonstrations have become a predictable part of the South African political calendar. They…
Nigerian Stocks Surge N26.5tn in Record April
Investors on the Nigerian Exchange added N26.5 trillion to their portfolios in April as the market hit a record valuation of N155.7 trillion. This surge marks a 20 per cent jump in the All-Share Index within a single month. Money is flowing back into the bourse because buyers trust the earnings power of Nigeria’s largest…
Impunity Reigns as 85 Per Cent of Journalist Killings Go Unpunished
The United Nations warns that nearly nine out of ten crimes against journalists remain uninvestigated and unpunished. Secretary-General António Guterres described this 85 per cent impunity rate as an unacceptable assault on global democracy. Media workers now face a world where the price of scrutiny is often death or disappearance. These figures reflect a global…
Nigeria Pushes African Bloc for AI Sovereignty
Nigeria wants African nations to pool their digital resources to avoid becoming tech colonies. Kashifu Abdullahi, head of the National Information Technology Development Agency, warned that the continent owns less than 1 per cent of global computing power. This tiny share persists even though Africa holds nearly a fifth of the world’s population. Nigeria is…
Telcos Defend USSD Charges and Data Expiry
Nigerian telecom operators are refusing to budge on the contentious N6.98 fee for bank transactions and data expiration rules. Gbenga Adebayo, chairman of the Association of Licensed Telecommunications Operators of Nigeria, argues that providers must get paid for every connection attempt. He compares his members to taxi drivers who expect a fare even if the…
Trump’s Rescue Plan For Hormuz Fails to Move Oil
Oil markets remain unimpressed by Donald Trump’s latest attempt to play maritime saviour. The United States President announced “Project Freedom” on Sunday, promising to guide stranded vessels out of the Strait of Hormuz. Brent crude reacted with a yawn, hovering flat at $108.11 on Monday morning. Traders see the plan as a hollow gesture that…
Three Dead in Atlantic Cruise Virus Outbreak
Three passengers are dead, and one remains in intensive care following a suspected hantavirus outbreak aboard the MV Hondius. The vessel was travelling from Argentina to Cape Verde when a rare respiratory illness began to spread among those on board. World Health Organisation officials confirmed one case of the rodent-borne virus, while five other passengers…
NGX Group Rewards Shareholders as Profits Climb
The Nigerian Exchange Group (NGX) is minting money for its owners again. At its 65th Annual General Meeting in Lagos, the bourse operator secured approval for a N2.00 per share final dividend and a one-for-three bonus share issue. This payout follows a 2025 financial year that shareholders described as a turning point for the group….
25 Big Firms Control 90% of the Stock Market
A tiny club of 25 companies now controls nearly the entire Nigerian stock market. These blue-chip giants account for 89.96% of the N155.99 trillion total market value on the Nigerian Exchange. Data from the first four months of 2026 shows a market that is top-heavy and increasingly concentrated. Investors are piling into a few liquid…
Banks Cut CBN Deposits as Interest Rates Ease
Nigerian lenders are pulling back from the central bank’s safety net. Banks and merchant banks slashed their deposits with the Central Bank of Nigeria (CBN) by 28 per cent in April 2026. This retreat follows a decision by the Monetary Policy Committee to cut the headline interest rate to 26.5 per cent. Total deposits dropped…