Business

Nigeria and Israel have reaffirmed their commitment to expanding cooperation in security, technology, agriculture, healthcare and trade. Foreign Affairs Minister Bianca Odumegwu-Ojukwu said Nigeria is seeking Israeli expertise in counter-terrorism, intelligence and border security. Nigeria's new Ambassador to...

The National Economic Council has approved a $4.5bn refinancing of the Project Gazelle oil-backed loan, replacing the 2023 $3.3bn facility. The refinancing will unlock about $3bn in fresh liquidity while reducing the volume of crude pledged as collateral...

The Debt Management Office has opened subscriptions for its August 2026 savings bond, offering annual returns of up to 14.963 percent. Nigerians can invest from N5,000, with subscriptions closing on August 7 and settlement scheduled for August 12. ...

The Nigeria Revenue Service has issued new guidelines outlining the tax treatment of cryptocurrency and other virtual asset transactions under the 2025 tax laws. The framework sets out registration, reporting, valuation and record-keeping requirements for taxpayers, Virtual Asset...

Femi Otedola says he has invested more than N600 billion of his personal wealth in First HoldCo and signalled plans to increase his stake beyond 51 percent. The billionaire said First Bank was on the brink of regulatory...

Investors gained ₦288 billion as the NGX opened the week higher, with the All-Share Index climbing 446.85 basis points. Eterna and Caverton rallied by the maximum 10 percent to lead the gainers’ chart, while buying interest in Omatek,...

Mobile money transactions rose 81.3 percent to N372.14 trillion in 2025, while transaction volume climbed 65.8 percent to 28.74 billion, according to the CBN. The apex bank attributed the growth to expanding agent networks, wider adoption of digital...

FirstHoldCo becomes the first Nigerian banking group to cross a N6 trillion market value. The company's valuation climbed to about N6.21 trillion after its share price rose to N136.50.  Investors have added more than N1 trillion to FirstHoldCo's...

Local refineries supplied 78.6 percent of Nigeria's petrol demand in the first half of 2026, up from 38.9 percent in 2025, while imports dropped to 21.4 percent, according to MEMAN. The report said expanded refining capacity led by...

Transaction volume rose to 28.74 billion as more Nigerians embraced digital wallets and agent banking. Cheque usage continued its sharp decline while retail electronic payments reached ₦3,458.77 trillion. The figures show that mobile money is becoming one of...