News

Investors submitted ₦4.93trn for just ₦600bn of OMO bills, underscoring the strong appetite for CBN’s high-yielding securities. The auction was oversubscribed by more than eight times. The 138-day OMO bill attracted ₦3.66trn in bids against ₦300bn offered, with...

Kebbi Police have arrested a 29-year-old suspect after uncovering an alleged ritual plot involving the burial of a copy of the Holy Qur’an and fetish materials inside a woman's room in Zuru. Investigators allege the ritual was intended...

Apple built a custom artificial intelligence model with direct assistance from Alibaba to secure regulatory clearance in mainland China. Aggressive market pressure from domestic rivals like Huawei forced Apple to abandon its standalone global software strategy. The Chinese...

Investors placed ₦498.6bn worth of bids for Dangote Sugar’s rights issue, exceeding the ₦485.9bn offer by ₦12.7bn. The strong demand pushed the offer into oversubscription. The company received 14,595 valid applications for 8.31bn shares, representing a 102.6 percent...

Dangote Petroleum Refinery plans to prioritise its Nigerian IPO before considering a listing on an overseas exchange. CEO David Bird says the company wants at least three years of production and financial performance to establish a stronger track...

MMI urges Governor Eno to move Ibom Deep Seaport from prolonged discussions to implementation. Group demands evidence for disputed historical and territorial claims between Ibibio and Oro interests. MMI says seaport, boundary and host-community questions should be resolved...

Akwa Ibom CP warns deployed officers against extortion, partisanship and voter intimidation. Officers are barred from paying for their movement to Osun and back to Akwa Ibom. Police personnel are cautioned against sharing sensitive election-operation content online. Akwa...

Virtual-asset tax defaulters face a N10 million penalty in the first month and N1 million for every subsequent month, according to PwC’s analysis of the NRS guidelines. Failure to deduct tax at source attracts a 40 percent penalty,...

Sheikh Ahmad Gumi says governments operating under Sharia law are justified in using public funds to sponsor mass marriages, describing the initiative as a legitimate responsibility of good governance. The Islamic scholar argues that supporting marriages helps address...

CBN removes restrictions limiting banks’ access to its Standing Lending Facility because of their participation in FX and government securities markets. Apex Bank restores collateralised funding for tenors of four to 90 days and expands OMO participation to...