The Nigerian Exchange has announced an extension of its daily trading hours, with the market now set to close at 4:00 pm following approval from the Securities and Exchange Commission. Previously, trading ran from 9:30 am to 2:30 pm, but starting Monday, April 27, 2026, sessions will begin at 9:00 am and end at 4:00 pm on weekdays….
The Central Bank of Nigeria (CBN) has introduced the Nigerian Overnight Financing Rate (NOFR), a new benchmark aimed at improving transparency and efficiency in the country’s money market. The initiative was developed in collaboration with the Financial Markets Dealers Association (FMDA). In a statement signed by Acting Director of Corporate Communications, Hakama Sidi Ali, the…
Lagos State has taken delivery of a new set of 24-car trains to strengthen operations on the Red Line rail project. Governor Babajide Sanwo-Olu announced this in a post on X, noting that the additional trains will increase capacity, reduce waiting times, and improve daily commuting for residents. According to him, the new rolling stock…
MTN Nigeria has temporarily suspended its airtime and data advance service, Xtratime, following new regulations introduced by the Federal Competition and Consumer Protection Commission (FCCPC). In a statement to the Nigerian Exchange Limited, the telecom company said the move is to ensure compliance with the FCCPC’s 2025 guidelines on digital and non-traditional consumer lending. These…
Industrialist and philanthropist Aliko Dangote has been named among TIME Magazine’s 100 Most Influential People in the World for 2026, marking his second appearance on the prestigious list after his first recognition in 2014. Dangote joins a lineup of global power players across politics, business, and technology, including Donald Trump, Xi Jinping, Benjamin Netanyahu, Mark Carney, Pope Leo XIV, Sundar Pichai, and Neal Mohan. Published on…
The United Arab Emirates has intensified efforts to improve logistics systems and strengthen trade corridors with Nigeria as part of broader initiatives to enhance global supply chain efficiency. The development was disclosed by the UAE Minister of Foreign Trade, Thani bin Ahmed Al Zeyoudi, during a high-level coordination meeting held in Dubai and hosted by the Ports, Customs…
The Federal Government has secured a $1 billion investment agreement with Rashmi Metaliks Group to boost Nigeria’s steel industry and accelerate industrial growth. The Memorandum of Understanding (MoU), signed in Kolkata, India, outlines a three-year investment plan aimed at strengthening local steel production capacity. Minister of Steel Development, Shuaibu Audu, who led the Nigerian delegation, praised the company’s…
The Abia State Government has been cleared by the World Bank to benefit from a $250 million grant aimed at strengthening health security in Nigeria. The Commissioner for Information, Okey Kanu, disclosed this while briefing journalists on the outcome of the State Executive Council meeting presided over by Governor Alex Otti. Kanu attributed the state’s inclusion in the programme to ongoing…
An Australian mining company has announced a significant development in its Nigerian operations following the approval of six mining licences by the country’s Mineral Control authority (MCO). The licences—comprising four exploration permits and two small-scale mining licences—were transferred from Continental Lithium Limited to C&C Minerals Limited, the company’s local joint venture arm. The assets span…
Nigeria’s poverty rate rose to 63 per cent in 2025, even as inflation eased, highlighting the limited impact of recent economic improvements on citizens’ living conditions, according to the World Bank. The figures were published in the bank’s April 2026 Nigeria Development Update titled “Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development,” unveiled in Abuja. The…
