Power sector crisis: Consumers, experts pick holes in Tinubu’s N3.3 trillion legacy debt approval
Electricity users and experts are raising doubts about President Bola Ahmed Tinubu’s recent N3.3 trillion plan to settle Nigeria’s long-standing power sector debt. Presidential spokesperson Bayo Onanuga said on Sunday that Tinubu had approved the N3.3 trillion to pay off the debts owed to power generation companies (GenCos). The announcement has sparked mixed reactions in […]
‘He was working on Easter’ — Otedola reveals details of meeting with Tinubu
Nigerian businessman Femi Otedola has shared that Bola Ahmed Tinubu was actively working even on Easter Sunday. He made this known in a post on social media, explaining that he visited the president together with Aliko Dangote. Otedola said their discussion focused on the country’s economy and ways Nigerians can benefit from the government’s ongoing […]
Dollar to Naira exchange rate today, April 6, 2026
The Nigerian Naira started the first full trading week of April 2026 on a steady note against the US Dollar. Across both the official and parallel markets, the currency showed signs of stability, supported by recent financial reforms and the Central Bank’s tight monetary policies. At the official Nigerian Foreign Exchange Market (NFEM), the Naira […]
MTN finalises separation of mobile money into standalone fintech in Ghana
MTN Group, one of Africa’s biggest telecom companies, has now separated its mobile money service in Ghana into a new independent fintech company. This step follows government rules and also supports MTN’s plan to grow its digital financial services. The company announced that its Ghana branch, Scancom PLC, completed the process after getting approval from […]
Rabiu, Elumelu align on Capital, Scale, Industrial Expansion as BUA Foods posts N1.77 Trillion revenue, N28 dividend
The Founder of BUA Group, Abdul Samad Rabiu, met with Tony Elumelu of United Bank for Africa to discuss stronger collaboration for economic growth. The meeting focused on expanding funding for manufacturing, boosting local production, and supporting industrial development across Nigeria. Both leaders highlighted the importance of long-term partnerships between finance and industry in driving […]
Illicit Financial Flows deprive Nigeria, African economies of $88bn yearly — Edun
Nigeria’s Minister of Finance, Wale Edun, has revealed that illicit financial flows are costing Nigeria and other African countries about $88 billion every year. He made this known during a tax and financial transparency meeting held in Abuja. According to him, these illegal outflows reduce funds that could have been used for development and poverty […]
Nigerian stock market opens bearish as investors lose N276bn
The Nigerian stock market opened the week on a weak note, with investors losing about N276 billion in value. Data from the Nigerian Exchange Limited showed that market capitalization dropped slightly. The All-Share Index also fell by 428.63 points, showing a decline in overall market performance. Market activity remained mixed, with more losing stocks than […]
US Cuts Nigerian Crude Imports By Nearly 50%
The United States has significantly reduced its crude oil imports from Nigeria, with a sharp drop of about 47% in January 2026. According to official trade data, imports fell from over 3 million barrels in December 2025 to about 1.66 million barrels in January 2026. This decline also affected Nigeria’s earnings, as the value of […]
What CBN’s new policy on diaspora remittances means for naira to dollar exchange — Gwadabe
The Central Bank of Nigeria has introduced new rules on diaspora remittances, aimed at improving the foreign exchange system. According to Aminu Gwadabe, the policy will help make the market more transparent and efficient. The new directive requires International Money Transfer Operators to route funds through naira settlement accounts. It also mandates the use of […]
Naira records first appreciation against US dollar
The Naira appreciated on Tuesday against the US Dollar at the official foreign exchange market for the first time in two working days. Data from the Central Bank of Nigeria showed it rose to N1,382.63 from N1,388.38 on Monday, marking a gain of N5.7 per dollar. This uptrend followed a N34.48 decline recorded on Monday, […]