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business News

Naira rebound sharply against British pound settles at N1,814/£
business

Naira rebound sharply against British pound settles at N1,814/£

Nigerian Naira rebounded strongly against the British pound at the Nigerian currency market window at N1,814/£ on Monday, its highest level in July. The post Naira rebound sharply

Jul 28, 20261 min read
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PoS agents must register with NDPC, court rules
business

PoS agents must register with NDPC, court rules

Point of Sale (PoS) agents in Nigeria will now be required to register with the Nigeria Data Protection Commission (NDPC) as they fall within the category of Data Controllers and P

Jul 28, 20261 min read
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FMBN to launch Diaspora NHF mortgage loan for Nigerians abroad on August 7
business

FMBN to launch Diaspora NHF mortgage loan for Nigerians abroad on August 7

The Federal Mortgage Bank of Nigeria (FMBN) will launch its Diaspora National Housing Fund (NHF) Mortgage Loan for eligible Nigerians living and working abroad on August 7, 2026, i

Jul 28, 20261 min read
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United Capital reports N24.77 billion H1 pre-tax profit, declares, 30-kobo dividend
business

United Capital reports N24.77 billion H1 pre-tax profit, declares, 30-kobo dividend

United Capital Plc has released its H1 2026 results, reporting a pre-tax profit of N24.777 billion for the six months ended June 30, 2026. The post United Capital reports N24.77 bi

Jul 28, 20261 min read
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Customs releases final ASC II recruitment list, medical uploads begin July 29
business

Customs releases final ASC II recruitment list, medical uploads begin July 29

The Nigeria Customs Service (NCS) has released the final list of successful candidates for its 2024/2025 recruitment exercise into the rank of Assistant Superintendent of Customs I

Jul 28, 20261 min read
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LAMATA to prosecute commuters paying cash on regulated buses from August
business

LAMATA to prosecute commuters paying cash on regulated buses from August

Commuters who pay cash fares on LAMATA-regulated bus services in Lagos will face arrest and prosecution from August 1, 2026, as the Lagos Metropolitan Area Transport Authority (LAM

Jul 28, 20261 min read
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NAFDAC seals three factories over production of banned sachet alcoholic drinks
business

NAFDAC seals three factories over production of banned sachet alcoholic drinks

The National Agency for Food and Drug Administration and Control (NAFDAC) has sealed three factories in Ogun State over the production of banned sachet alcoholic drinks and alcohol

Jul 28, 20261 min read
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Nigerian equities fall 0.05% as profit-taking across large-cap stocks persist
business

Nigerian equities fall 0.05% as profit-taking across large-cap stocks persist

The Nigerian equities market fell 0.05% on Monday, July 27, extending the previous session's losses as investors engaged in profit-taking after last week’s gains across several sec

Jul 28, 20261 min read
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Open weights and American AI leadership: Opportunities for Nigeria
business

Open weights and American AI leadership: Opportunities for Nigeria

While much of the world sees the recent open letter, “Open Weights and AmericanAI Leadership,” signed by Microsoft, Meta, NVIDIA, IBM, Dell Technologies, Hugging Face, Palantir, Mo

Jul 27, 20261 min read
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FCMB reports N157.3 billion pre-tax profit in H1 2026 as net interest income rises
business

FCMB reports N157.3 billion pre-tax profit in H1 2026 as net interest income rises

FCMB Group has released its H1 2026 results, reporting a pre-tax profit of N157.300 billion for the six months ended June 30, 2026. The post FCMB reports N157.3 billion pre-tax pro

Jul 27, 20261 min read
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Lagos issues traffic advisory as FG begins two-week Kara Bridge repairs on Tuesday
business

Lagos issues traffic advisory as FG begins two-week Kara Bridge repairs on Tuesday

The Federal Government will begin a two-week replacement of the expansion joint at Kara Bridge along the Lagos-Ibadan Expressway on Tuesday, July 28, with motorists advised to prep

Jul 27, 20261 min read
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Top 10 biggest tech layoffs of 2026 eliminate over 76,000 jobs
business

Top 10 biggest tech layoffs of 2026 eliminate over 76,000 jobs

As of July 2026, the 10 largest technology layoffs announced globally have affected more than 76,000 workers, as some of the world’s biggest tech companies restructure their operat

Jul 27, 20261 min read
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Nvidia launches AI safety alliance after OpenAI agent security scare
business

Nvidia launches AI safety alliance after OpenAI agent security scare

Nvidia has formed a new industry coalition focused on AI safety and cybersecurity, just days after an autonomous OpenAI agent slipped out of control and carried out an unauthorised

Jul 27, 20261 min read
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Africa’s data centre capacity exceeds 500 MW with 890 MW in pipeline – Report
business

Africa’s data centre capacity exceeds 500 MW with 890 MW in pipeline – Report

Africa's operational data centre capacity has surpassed 500 MW, with another 890 MW of projects in development, according to a report by Fortren & Company. The post Africa&#82

Jul 27, 20261 min read
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Nigeria’s FX market hits record $4.4 billion, mystery deals fuel speculation
business

Nigeria’s FX market hits record $4.4 billion, mystery deals fuel speculation

Nigeria's foreign exchange market crossed the $4 billion mark in weekly turnover for the first time in 2026, with total transactions in the FX Spot and Derivatives markets surging

Jul 27, 20261 min read
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Ex-NSIPA boss alleges N3 billion COVID funds paid into 11 accounts without approval
business

Ex-NSIPA boss alleges N3 billion COVID funds paid into 11 accounts without approval

A former National Coordinator and Chief Executive Officer of the National Social Investment Programme Agency (NSIPA), Halima Shehu, has alleged that N3 billion in leftover COVID-19

Jul 27, 20261 min read
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Strait of Hormuz ambiguity triggered collapse of US-Iran truce – Analysts
business

Strait of Hormuz ambiguity triggered collapse of US-Iran truce – Analysts

Uncertainty over control of the Strait of Hormuz was a major factor behind the breakdown of the fragile truce between the United States and Iran, a development that contributed to

Jul 27, 20261 min read
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PFIPC probe: Reps directs IGP to produce alleged fake DG over N1.32 billion allocation
business

PFIPC probe: Reps directs IGP to produce alleged fake DG over N1.32 billion allocation

The House of Representatives committee investigating the operations of the controversial Presidential Foreign Investment Promotion Council (PFIPC) has directed the Inspector-Genera

Jul 27, 20261 min read
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