Business

CBN unveils new FX guidelines, approves cash movement of $50,000

By Emma Ujah,  Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
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Why Africa’s energy transition must start with infrastructure

By Ifeanyi Ajuluchukwu, Chief Executive Officer, Montserrado When the world looks at Africa, it often sees extremes. Some see a continent powered by youth, creativity, and vast natural resources, while others see fragility, power shortages, poverty, and climate vulnerability. Yet beneath every narrative lies a deeper truth – Africa has everything it needs to claim […]

NIMASA rallies stakeholders on IMO GreenVoyage2050 plan

By Godwin Oritse The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to providing regulatory leadership, technical coordination, and strong stakeholder engagement to drive the development and effective implementation of a robust National Action Plan on maritime decarbonisation in Nigeria. Speaking at a stakeholders’ workshop on development of a National Maritime Decarbonization Action […]

NGX Group records N15.6bn profit, declares N3.00 dividend

…Issues 1 for 3 bonus By Peter Egwuatu   The Nigerian Exchange Group, NGX Group has the recorded N15.6 billion Profit Before Tax, PBT,   in its audited results for the year ended 31 December 2025, up from N13.6 billion in the corresponding period 2024. The Exchange also declared N3.00 per share dividend and a bonus of one […]

Lafarge Africa revenue surges 53% to N1.1trn

By Peter Egwuatu Lafarge Africa Plc has announced a revenue milestone of N1.1 trillion in 2025, representing a 53% surge from N696.8 billion recorded in the corresponding period of 2024. Profit After Tax (PAT) rose from N100.1 billion in 2024 to N273 billion representing a 173% increase. The company said this performance is underpinned by volume-led […]

Decline in import bills triggers $1.28bn trade surplus

…As low domestic demand reduces oil import By Elizabeth Adegbesan Nigeria recorded a  $1.28 billion trade surplus in November 2025, representing a 4.1 percent month-on-month increase compared to a N1.23 billion surplus recorded in the previous month, October.  This development was triggered by an 8.07 percent decline in import bill during the review period. Breakdown […]

STOCKS: Investors gain N17.6trn in February

…Incur N1.4trn loss last week   By Peter Egwuatu   The stock market has recorded significant milestones, with investors gaining N17.6 trillion in February 2026, the highest monthly gain ever in the history of the Nigerian capital market.   However, the investors lost over N1.4 trillion Week-on-Week, WoW, following  sustained profit-taking as  cautious sentiment persists. A review of the […]

FG extends ban on Shea nut export to boost domestic processing

By Peter Egwuatu,  with agency report   The Federal Government has extended its ban on Shea nut exports by a year, reinforcing a drive to curb raw commodity shipments and boost local value addition. The extension takes effect from February 26, 2026, to February 25, 2027. Approving the ban, President Bola Tinubu said that  Nigeria is trying to […]

CAC business registration:  Ambassador demands stronger crypto regulation

By Olasunkanmi Akoni An Ambassador to the Corporate Affairs Commission, CAC, Mr Micheal Nwabufo, said Nigeria has moved beyond catching up with global standards and is now competing in instant business registration, stressing the need for stronger crypto regulation. Nwabufo, also known as  Mike Premium,  who made the call at a media briefing in Lagos, described […]

Weak gender law enforcement limits Nigeria’s economic growth  — World Bank

By Yinka Kolawole,  with agency report The World Bank  has said that  weak enforcement of gender equality laws and lack of parenthood support policies  in Nigeria  are constraining women’s participation in the workforce and also limits the country’s economic growth. In its Women, Business and the Law 2026 report, the bank said Nigeria scores 50 out of […]

Dangote Refinery charts industrial future with surfactant plant

By Providence Ayanfeoluwa Dangote Petroleum Refinery has announced plans to expand beyond crude processing into a fully integrated industrial hub, unveiling five major projects that aim to transform Africa’s manufacturing landscape. The project encompasses the ambitious expansion plan of a 400,000-tonne Linear Alkaline Benzene (LAB) plant to support detergent manufacturing across the continent. Addressing journalists during […]

Open budgeting, robust climate finance reporting key to effective action — BudgIT

By Progress Godfrey As Nigeria struggles with growing impact of climate change and weak public finance systems, BudgIT Foundation, a civic and fiscal policy advocacy organisation, has stated that open budgeting and robust climate finance reporting are crucial to the country’s ability to respond effectively. The organisation made this known during a stakeholder workshop held in Abuja […]

Payment security remains biggest barrier to bankable gas, Power projects — FirstCap MD

By Babajide Komolafe Managing Director/CEO of FirstCap Limited, Mr. Ukandu E. Ukandu, an investment banking firm and subsidiary of First HoldCo Plc., has reaffirmed that payment security remains the most decisive factor in determining whether gas and power projects in Nigeria secure financing. He shared this perspective during a panel discussion on project bankability at the […]

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