Author: Ogooluwa Aremu

NICA Urges World Bank, IMF, AfDB to Make Africa Credit Ready The National Institute of Credit Administration (NICA) has urged the World Bank, International Monetary Fund (IMF) and African Development Bank (AfDB) to deepen the credit economy in Africa. Prof. Chris Onalo, Registrar and Chief Executive Officer of NICA, made the call in a statement on Friday. Onalo, popularly known as “Mr Credit”, urged global financial institutions to support the development of credit management infrastructure across the continent. He said Africa could not achieve inclusive growth if its nations and citizens remained outside the formal credit system. According to him,…

Oil prices edged lower Thursday as a sharp rise in US crude inventories and higher global…

NNPC GCEO Urges Global Collaboration to Unlock Africa’s Energy Potential The Group Chief Executive Officer of NNPC Ltd., Bashir Ojulari, has called for stronger global and continental partnerships to unlock Africa’s vast energy resources and drive sustainable economic growth. Ojulari made the call on Tuesday while delivering the keynote address at the opening of the 2026 Nigerian Oil and Gas (NOG) Energy Week in Abuja. Speaking on the theme, “Forging Africa’s Strategic Energy Growth Through Global Collaboration,” the NNPC boss said Africa’s greatest challenge was not a lack of hydrocarbon resources or talent, but the fragmentation of the institutions needed…

Equities investors in the Nigerian Exchange (NGX) lost N2.18 trillion on Thursday due to profit-taking

The Central Bank of Nigeria (CBN) has directed banks, fintech firms, and other payment service provider

The global markets open the new week in red following a soft Wall Street close, reflecting uncertainties in the global economy with a negative inflation outlook.

NPA Records Increased Cargo, Vessel Traffic in Q1 The Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, says the maritime sector recorded strong growth in the first quarter of 2026, driven by increased cargo throughput, larger vessel traffic and ongoing port reforms. Dantsoho disclosed this in a statement issued on Sunday in Lagos by the NPA General Manager, Corporate Communications and Strategy, Mr Ikechukwu Onyemekara. He said ocean-going vessel Gross Registered Tonnage (GRT) rose by 19.5 per cent to 46.75 million in first quarter 2026, reflecting improved cargo efficiency and growing confidence by international shipping lines in Nigerian ports.…

Former President Goodluck Jonathan has challenged a lawsuit seeking to bar him from the 2027 presidential election, filed by a lawyer, Johnmary Jideobi.

CBN Foreign Subsidiary Rule Sparks N1.92trn Loss on NGX The stock market on Thursday closed on a negative note as investors lost N1.92 trillion, following sell-offs in banking and cement stocks. This is amid reactions to new regulatory guidelines by the Central Bank of Nigeria (CBN) on foreign subsidiaries of banks. Market capitalisation dropped from N155.780 trillion to N153.858 trillion, recording a decline of N1.23 per cent or N1.922 trillion. The All-Share Index (ASI) also fell by 1.23 per cent or 2,994.90 points to close at 239,734.61 from 242,729.51 recorded previously. The Year-to-Date (YTD) return moderated to 54.82 per cent.…

Accord Party Backs Otti’s Re-Election Bid in Abia The National leadership of the Accord Party on Wednesday declared support for the re-election of Gov. Alex Otti of Abia in 2027, citing his developmental strides in the state. The National Chairman of the party, Prof. Christopher Imumolen, made this known during an interview with newsmen after his visit to Otti, in Nvosi, Isiala Ngwa South Local Government Area. Imumolen said that the party was impressed by the governor’s performance in infrastructure, education, healthcare and other sectors. He said that the party decided to support Otti beyond political affiliations because governance should…