Business

NAFDAC Director-General, Prof. Mojisola Adeyeye, renewed the agency’s position on Wednesday during an interview on Channels Television’s Sunrise Daily, saying alcohol consumption is linked to banditry and warning about its effects on vital organs including the brain, kidneys and liver.

Nomba, an African digital bank focused on businesses, has secured a $3 million debt facility from CardinalStone Finance Company as it expands its cross-border payment infrastructure and strengthens financial links between African markets and Asia.

President Bola Ahmed Tinubu’s administration has announced more than $50 billion in investment commitments since taking office in May 2023, but actual Foreign Direct Investment (FDI) inflows have remained a fraction of the pledged amount.

CBN Governor, Olayemi Cardoso, represented by Deputy Governor, Economic Policy Directorate, Philip Ikeazor, gave the assurance on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja.

The Securities and Exchange Commission has approved the sale of 4.1 billion shares at ₦525 each, potentially raising about ₦2.15 trillion, or $1.63 billion. The offer is scheduled to run from September 14 to October 13, with the shares expected to begin trading in November.

Brent crude futures climbed to an intraday high of $99.46 per barrel, its highest level since July 24, before easing to settle at $97.92. US West Texas Intermediate crude also rose to a six-week high, settling at $93.03 per barrel.

Investors have started selling existing shares to make room for Africa’s biggest IPO, raising an important question for Nigeria’s capital market about how much money the Dangote deal can pull out of everything else.

Selected companies will receive coaching, technology and infrastructure support, corporate connections and other resources aimed at strengthening their products and commercial traction.

The ASI opened at 247,699.78 points but fell 2,897.67 points to close at 244,802.11. Similarly, market capitalisation declined by N1.879 trillion, from N160.600 trillion at the opening to N158.721 trillion at the close.

The exhibition, scheduled for November 26 to 28, 2026, will bring together vehicle manufacturers, equipment suppliers, distributors and mobility solution providers, creating opportunities for Nigerian businesses to establish partnerships and expand access to regional markets.