Money

CBN Injects $52m, Naira Holds Steady as Reserves Hit $42.1bn

Motolani Oseni 25 September 2025 0

The Central Bank of Nigeria (CBN) sold $52 million to authorised dealers on Wednesday to stabilise the foreign exchange market, helping the naira firm slightly against the dollar amid steady inflows from oil and exports. Trading data showed the local currency appreciated by 0.08 per cent to

Business

Nigeria’s GDP expands by 4.23% in Q2 2025, driven by oil and industry growth

Awwal Owolabi 23 September 2025 0

The National Bureau of Statistics (NBS), on Monday, announced that the Nigeria’s economy grew by 4.23 percent in the second quarter of 2025. The figure is considerably higher than the 3.48 percent growth recorded in the same quarter of 2024, and above the 3.13 percent reported in the first quarter of 2025. According to the […]

Business

Recapitalisation: 5 insurance coys project N418.7bn revenue, N39bn profit in 2025

Motolani Oseni 22 September 2025 0

Five insurance companies have projected N418.7 billion as revenue for the 2025 financial year ending December 31. The companies are Sunu Assurances Nigeria Plc, AIICO Insurance Plc, Linkage Assurance Plc, AXA Mansard Insurance Plc and Nem Insurance Plc They also projected N39 billion as their Profit Before Tax (PBT) during the same period. The companies […]

Business

Nigeria-China Trade Surges 34.7% to $15.48bn in First Seven Months of 2025

Promise Eze 22 September 2025 0

Bilateral trade between Nigeria and China grew by 34.7 per cent to $15.48 billion between January and July 2025, compared with the same period in 2024. Yan Yuqing, Consul-General of the People’s Republic of China in Lagos, disclosed this during a reception on Sunday, according to the News Agency of Nigeria (NAN). She noted that […]

Business

‘Seven days it too long’ — Bank customers lament slow refunds after failed transactions

Tunde Opalana 22 September 2025 0

Bank customers across Nigeria have expressed frustration over delays in reversing failed transactions, describing the process as exhausting and unfair. Speaking with NAN in Abuja, some customers said they were discouraged from pursuing refunds because the process was long, stressful, and often fruitless. They urged banks to shorten the waiting period for resolving

Business

Zenith Bank’s Gross Earnings Hit N2.5 Trillion in H1 2025, Declares N1.25 Interim Dividend

Promise Eze 22 September 2025 0

Zenith Bank Plc has posted a profit before tax (PBT) of N625.63 billion for the half-year ended June 30, 2025, representing a strong performance in a transitioning macroeconomic environment. The Board approved an interim dividend of N1.25 per share, a 25% increase from the N1.00 paid in H1 2024, reinforcing the Bank’s reputation as a […]

Real Estate and Environment Top Stories

River Park Estate: No amount of blackmail will save illegal structures – Wike

Ukpono Ukpong 21 September 2025 0

…orders issuance of new C-of‐Os to genuine homeowners The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has declared that no illegal constructions within River Park Estate will be spared, stressing that no amount of blackmail will stop the FCTA from pulling down structures erected in violation of the law. Speaking during an inspection […]

Transportation

Smuggled Cars, Soaring Costs Push Auto Sector to the Brink

temitope adebayo 20 September 2025 0

Nigeria’s automobile industry is reeling under the twin pressures of surging vehicle importation and unrelenting inflation, with stakeholders warning that the country’s dream of building a sustainable automotive hub is on the verge of collapse. Despite more than a decade of government policies aimed at boosting local production through tariffs, incentives, and assembly

Transport

How Crippling Policy Gaps Threaten Nigeria’s Auto Industry Future

temitope adebayo 20 September 2025 0

Nigeria’s automotive industry was once envisioned as a symbol of industrial pride, a sector that could create jobs, conserve scarce foreign exchange, and boost national competitiveness. That vision was given structure through the National Automotive Industry Development Plan (NAIDP), first rolled out in 2013/2014 and renewed in 2023 with fresh promises for the next decade.

Aviation

Weak, Outdated Systems Crippling Nigeria’s Air Cargo Growth – Aviation Expert

Chukwuemeke Iwelunmo 20 September 2025 0

Nigeria’s air cargo sector risks continued inefficiency and loss of competitiveness unless outdated systems are urgently replaced with modern technology, the Chief Executive Officer of Mainstream Cargo Limited, Mr Seyi Adewale, has warned. Speaking at the 5th CHINET Aviation Cargo Conference in Lagos, in a paper titled “Harnessing Technological Advances to Improve Air

Aviation

NCAA threatens Qatar Airways, Royal Air Maroc, Saudi Air over directive on ill-treatment of passengers

Chukwuemeke Iwelunmo 20 September 2025 0

The Nigeria Civil Aviation Authority (NCAA) has threatened to sanction Qatar Airways and Royal Air Maroc for failing to comply with its directives and determinations on passenger complaints. Michael Achimugu Director Public Affairs and Consumer Protection of NCAA posted this on his verified X handle @mikeachimugu01 on Friday, detailing the offence of both airlines.

Aviation

Weak, Outdated Systems Crippling Nigeria’s Air Cargo Growth – Mainstream Cargo CEO

Chukwuemeke Iwelunmo 19 September 2025 0

Nigeria’s air cargo sector risks continued inefficiency and loss of competitiveness unless outdated systems are urgently replaced with modern technology, the Chief Executive Officer of Mainstream Cargo Limited, Mr Seyi Adewale, has warned. Speaking at the 5th CHINET Aviation Cargo Conference in Lagos, in a paper titled “Harnessing Technological Advances to Improve Air

Business

Dangote refinery rejects DAPPMAN’s alleged N1.5trn subsidy demand

Promise Eze 18 September 2025 0

The Dangote Petroleum Refinery has accused the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) of demanding an annual subsidy of about N1.5 trillion to enable members match its gantry prices at their depots. Gantry price refers to the price of petroleum products at the loading point (gantry) of a refinery, depot, or terminal […]

Aviation

FAAN boss, Overland CEO disagree on airport insurance cover

Chukwuemeke Iwelunmo 18 September 2025 0

The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kuku, has declared that all airports across the country under the management have valid insurance cover. Reacting to comments by chief executive officer of Overland Airways, Capt. Edward Boyo on airports insurance in the country at the 5th CHINET Aviacargo Conference at […]

Business

Okash Introduces Flexible Repayment Options to Support Borrowers in Nigeria

Guest Writer 17 September 2025 0

Okash, one of Nigeria’s leading digital micro-lenders, is reshaping how borrowers manage their loans by offering flexible repayment structures that reflect the financial realities of its users. Operated through the Okash mobile application, the platform allows customers to choose repayment tenures tailored to their individual circumstances, ranging from 91 days to 365

Business

EaseMoni Rolls Out Flexible Repayment Options to Boost Borrower Confidence in Nigeria

Guest Writer 17 September 2025 0

EaseMoni, a leading digital lending platform under Blue Ridge Microfinance Bank Limited, is setting itself apart in Nigeria’s growing financial technology sector by offering flexible repayment plans designed to adapt to borrowers’ financial realities. Licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC), the platform

Aviation

NAMA seeks NASS nod to end 50% deduction, attain financial autonomy

Chukwuemeke Iwelunmo 17 September 2025 0

The Nigerian Airspace Management Agency (NAMA) has canvassed for the intervention of the National Assembly to end the 50% revenue deduction and attain financial autonomy. The Managing Director of NAMA, Engr Farouk Umar who made this plea in his opening remarks at the ongoing 4-day retreat of the House Committee on Aviation in Abuja, maintained […]

Aviation

NAMA Extends Advanced AFTN to 26 Airports Ahead of AMHS Rollout

Chukwuemeke Iwelunmo 17 September 2025 0

The Nigerian Airspace Management Agency (NAMA) has expanded its Advanced Satellite System Aeronautical Fixed Telecommunications Network (AFTN) coverage from 14 to 26 airports nationwide, in a move set to boost communication resilience across Nigeria’s aviation sector. The enhanced AFTN, which runs on X.25 protocols, will serve as a backup to the soon-to-be-commissioned

Business

Naira Appreciates to N1484 as Reserves Rise to $41.8bn

temitope adebayo 17 September 2025 0

The naira appreciated to N1484 per dollar on Tuesday at the Nigerian Foreign Exchange Market (NFEM) after breaking a key psychological barrier earlier in the week. During intraday trading, the local currency touched N1479 before closing slightly weaker at N1485, according to data released by the Central Bank of Nigeria (CBN). The sustained rebound at […]

Aviation

Air Sierra Leone Targets London–Lagos Market with $950 Return Fare

Chukwuemeke Iwelunmo 17 September 2025 0

Air Sierra Leone has entered the highly competitive London–Lagos route with the launch of a new service via Freetown, offering passengers a $950 return fare as part of its expansion strategy to position Sierra Leone as a regional aviation hub. The carrier said the service will provide smooth connections through Freetown with minimal layover times, […]