Ebenezer Chukwudi

Customs Clears 98 Containers of Trapped Power Equipment

Customs Seize N1.3bn In Smuggled Vegetable Oil

The Nigeria Customs Service has intensified its nationwide border crackdown on illicit agricultural imports, intercepting smuggled vegetable oil products worth 1.31 billion naira. Comptroller-General of Customs Adewale Adeniyi confirmed that the service recorded 65 distinct seizures in 2025 and an additional 23 interceptions during the first half of 2026. The combined duty-paid value of the…

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Opposition Accuses Tinubu Of Holding El-Rufai Hostage Over 2027 Fears

Court Begins Speedy Trial in ADC Leadership Tussle

The Federal High Court in Abuja commenced an accelerated hearing today in a high-stakes legal battle challenging the legitimacy of the African Democratic Congress leadership under former Senate President David Mark. Justice Peter Lifu activated the fast-track trial schedule following explicit directives from the Supreme Court to resolve the internal party crisis expeditiously. The plaintiff,…

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Large Cap Rally Pushes Equity Gains to N2tn

NGX Groups Braces for Pan-African Dangote Refinery IPO

The Nigerian Exchange Group is positioning the upcoming initial public offering of the Dangote Petroleum Refinery as a continental investment opportunity rather than a local affair. Group Chairman Umaru Kwairanga disclosed the cross-border listing strategy on Friday at the London Africa Summit. To broaden institutional participation, the exchange has already commenced formal engagements with multiple…

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Xenophobia: FG to Evacuate 83 Nigerians from South Africa

Xenophobia Forces Evacuation Screening For 397 Nigerians

A group of 397 Nigerians are undergoing official screening in South Africa ahead of an emergency evacuation. The diplomatic exercise serves as a direct response to a surge in anti-foreigner campaigns across major South African cities. Officials began the documentation process on Thursday and intend to conclude the initial phase on Sunday. Three separate South…

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Large Cap Rally Pushes Equity Gains to N2tn

Bear Run Wipes N5.1trn Off Nigerian Exchange

An aggressive wave of profit-taking wiped 5.15 trillion naira off the Nigerian Exchange in just four trading days. The sharp equity contraction marks a brutal start to June for domestic and foreign portfolio investors. Widespread sell-offs targeted previously resilient blue-chip corporations, dragging the market capitalisation down to 155.36 trillion naira. The sudden downturn ended a…

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Dangote Refinery Closes Landmark N2.15trn Public Offer

Dangote’s Public Firms Boost First-Quarter Profit by 52%

The three publicly traded entities owned by Aliko Dangote grew their combined net profit by 52.3 percent during the first quarter of 2026. Financial statements submitted to the Nigerian Exchange Group show that Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries generated N161.43 billion in profit after tax. This corporate surge follows a combined…

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Jimoh Ibrahim Becomes UN Budget Committee Chairman

Jimoh Ibrahim Becomes UN Budget Committee Chairman

Nigeria’s Permanent Representative to the United Nations, Senator Jimoh Ibrahim, has secured the chairmanship of the global body’s Fifth Committee. The 193-member General Assembly elected Ibrahim to lead the influential group responsible for administration, human resources, and the budget. The appointment positions a Nigerian diplomat at the core of the financial management of the United…

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Banks’ Deposits with CBN Fall to N82.99tn

Central Bank Unveils Payments Vision to Curb Cash

The Central Bank of Nigeria has launched an aggressive financial strategy to drive the country toward a one-trillion-dollar economy. Dubbed the Payments System Vision 2028, the blueprint aims to drag an additional 50 million citizens into the formal banking system. Governor Olayemi Cardoso presented the four-year roadmap in Abuja, framing electronic payment channels as vital…

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