Category: BUSINESS
Trump’s Threat Sparks Massive Sell-Offs In Nigerian Stock Market As Investors Lose N2.8tn
The Nigerian stock market recorded a significant downturn in the last five days as investors at the Nigerian Exchange Limited, NGX, lost a massive N2.8 trillion between November 3 and 7, 2025. Equity market capitalisation fell sharply to N94.9 trillion, while the All-Share Index, ASI, declined by 2.99 per cent, dropping to 149,524.81 points from…
CBN Pegs PoS Agents Daily Transactions At ₦1.2m
THE Central Bank of Nigeria (CBN) has capped daily cash-out transactions for Point of Sale (POS) agents at N1.2 million and N100,000 for individual customers. The regulation for operators comes under a new set of guidelines released to regulate agent banking operations across the country. The circular, signed by the Director of the Payments System…
FCCPC Unveils Rules To End Loan App Harassment, Impose ₦100m Sanctions
The Federal Competition and Consumer Protection Commission (FCCPC) has rolled out regulations to curb harassment, data breaches, and other unethical practices by digital lenders in Nigeria. This was disclosed in a statement signed by the FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, which quoted the Commission’s Executive Vice Chairman/Chief Executive Officer, Tunji Bello, as unveiling…
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945. This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area,…
Fuel Price Nears N1,000 Per Litre In Nigeria As Marketers, Retailers Trade Blame
Petroleum product marketers and retailers are trading blame as the premium motor spirit pump price nears N1,000 per litre in Nigeria. On Monday, NEWS reported that the Nigerian National Petroleum Company Limited retail outlets across the country increased fuel prices. In Abuja, Nasarawa, and Kogi states, the NNPCL petrol pump price jumped by N65 per…
‘No Growth Without Electricity’: Rewane Urges Urgent Energy Reform
Economic expert and Managing Director of Financial Derivatives Company Ltd, Bismarck Rewane, has stressed the urgent need for Nigeria to resolve its lingering power supply issues, warning that continued outages pose a significant threat to national economic growth. Speaking on Channels Television’s Business Morning on Tuesday, Rewane emphasised the impact of electricity instability on Nigeria’s…
NERC Seeks FG’s Intervention Over $12m Electricity Debt
The Nigerian Electricity Regulatory Commission (NERC) said it is seeking the intervention of the Federal Government over more than $12 million in electricity debts owed by Nigeria’s international and domestic bilateral customers. This is as data sourced from the Commission’s newly released quarterly report, which noted that in the first quarter of 2025, six international…
SEC Warns Nigerians Against Unregistered Crypto Platform CMTrading
The Securities and Exchange Commission (SEC) has warned the public against the cryptocurrency and commodities trading platform, CMTrading. A statement by the Commission on Saturday said the platform reportedly claims affiliation with GCMT South Africa Pty Ltd, allegedly licensed by the Financial Sector Conduct Authority (FSCA) of South Africa and the Financial Services Authority (FSA)…
‘Cheaper Fuel At Our Doorposts’, IPMAN Welcomes Dangote’s Distribution Plan
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has welcomed the recently announced plan by the Dangote Refinery to distribute petrol and diesel free of charge to marketers across the country. Speaking today, IPMAN’s National Publicity Secretary, Chinedu Ukadike, praised billionaire businessman Aliko Dangote for seeing a problem in the sector and deciding to tackle…
Tesla Vehicle Becomes Best-Selling Vehicle In China, Norway
The Tesla electric vehicle, Model Y, has become the best-selling in China and Norway in March 2025. Elon Musk, the billionaire owner of Tesla, confirmed this in a separate X statement on Wednesday. According to data on the revamped Model Y, performance showed that 43,370 units of the car were sold in March 2025 to…