Author: Ogochukwu Ndubuisi

NUPRC Cautions Oil Licence Holders Over Dormant Assets The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that Petroleum Prospecting Licence (PPL) holders risk losing inactive assets under its drill-or-drop policy. Mrs Oritsemeyiwa Eyesan, the Commission Chief Executive, gave the warning on Tuesday in Lagos at a workshop for PPL holders. Eyesan said that licence holders must fulfil their exploration and development obligations within the stipulated periods. She stressed that extensions would not be automatic for operators unable to secure funding or technical partners. She said the 22 awards from the 2022/2023 and 2024 licensing rounds were expected to contribute…

Moniepoint’s N1trn Small Businesses Credit Earns Its Fintech Award Moniepoint Microfinance Bank (MFB) on Monday said it disbursed more than N1trillion in credit to thousands of small businesses in 2025, earning it the SME Microfinance Bank of the Year award for the third consecutive year. The Senior Vice-President, Distribution Network Sales, Moniepoint, Mr Ezekiel Sanni, said in a statement that the recognition reinforced the bank’s commitment to supporting small businesses. Sanni said the bank would continue expanding access to credit and investing in its network to help more businesses grow. He said that small businesses were the backbone of the…

Trump Accuses Ukraine of Unreciprocated Support U.S. President Donald Trump has accused Ukraine of giving nothing in return for U.S. support. Trump told reporters in Washington on Monday that the U.S. had given a lot to Ukraine, but had received nothing from the country. Trump also stepped up his criticism of Kyiv after Ukrainian President Volodymyr Zelensky suggested that the U.S. president’s Kremlin-friendly approach put him on the wrong side of history. “Zelensky doesn’t know what he’s talking about,” Trump responded. The Ukrainian president was “not helping matters much” in efforts to end the war, Trump said. Meanwhile, U.S. news…

EIB Global, FCMB to Support Private Sector, Sustainable Agriculture with €85m The European Investment Bank Group’s international development arm, EIB Global, and First City Monument Bank (FCMB) have announced the financing totalling €85 million to support private-sector companies across agricultural value chains in Nigeria. At least 70% of the financing will target cocoa and dairy value chains. The announcement was made during the Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok in the presence of EIB Group President Nadia Calviño, Nigerian Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele, EIB Vice-President…

The South African Rand against Western currencies on Monday, including the US dollar, the Euro

Oil prices declined Monday as US President Donald Trump said he would not impose additional measures on Russia

Debt Management Office (DMO) is scheduled to open N1.75 trillion worth of Federal Government of Nigeria bonds

The naira weakened against the US dollar at the Nigerian foreign exchange market…

The Nigerian equities market capitalisation dropped by N534 billion to N160/73 trillion…

Accord Lagos Chairman Seeks Clarity Over Adeleke’s Tinubu Campaign Role ​‌‍⁠‌‍⁠⁠‍​⁠‍​‌‍​‌Mr Oladele Oladeji, Lagos State Chairman of Accord, has called for clarification over Gov. Ademola Adeleke’s reported appointment as coordinator of President Bola Tinubu’s 2027 presidential campaign in Osun. Oladeji said the reported appointment raised concerns about its implications for Accord’s political identity, candidates and electoral prospects. In an open letter to the party’s national leadership on Saturday, he questioned Adeleke’s political allegiance, given that he was elected governor on Accord’s platform. “Our letter was a genuine expression of concern about the implications of Governor Adeleke’s reported appointment as coordinator…