Forex inflow rises 36.5% to $33.76bn in five months
By Elizabeth Adegbesan Nigeria’s net foreign exchange (forex) inflow rose by 36.5 percent year-on-year (YoY) to $33.76 billion in the first five months of 2026 (5M’26), from $24.72 billion in the corresponding period of 2025 (5M’25). The increase came amid ongoing efforts by the Central Bank of Nigeria (CBN) to deepen the foreign exchange market, […]
Recapitalisation: Companies with outstanding claims will not be relicensed — NAICOM
By Rosemary Iwunze As the insurance recapitalisation deadline of July 31st 2026 draws near, the National Insurance Commission, NAICOM, has stated that it will not re-license any company with outstanding claims. In a letter to all Managing Director/CEOs of insurance companies, issued yesterday, titled: “Regulatory Directive – Settlement of Discharged Claims as A Precondition for Re-Licensing […]
FG incurs N358.3bn electricity subsidy in Q1 — NERC
By Obas Esiedesa, Abuja The Federal Government (FG) incurred an electricity tariff subsidy obligation of N358.32 billion in the first quarter of 2026 as it continued to bridge the gap between cost-reflective electricity tariffs and the rates paid by consumers, according to the latest report by the Nigerian Electricity Regulatory Commission (NERC). The Commission, in its […]
Beta Glass injects N1tr into economy in 10yrs, unveils new board
By Jimoh Babatunde Beta Glass Plc says it has contributed over N1 trillion to Nigeria’s economy in the last 10 years, reaffirming its commitment to expanding investments, sustainable manufacturing and shareholder value. At its 52nd Annual General Meeting in Lagos, shareholders approved key resolutions, including the reconstitution of the Board of Directors. According to an independent […]
Dangote, major marketers cut petrol depot prices as FG mounts pressure
•IPMAN targets sub-N800/litre By Udeme Akpan & Obas Esiedesa Nigeria’s downstream petroleum market witnessed another round of price reductions on Monday, with the Dangote Petroleum Refinery and several major fuel marketers lowering depot prices for Premium Motor Spirit (PMS), popularly known as petrol, and diesel. This development comes at the backdrop of pressures from the Federal […]
Elumelu retires as UBA Chairman, Nnorom named successor
By Babajide Komolafe United Bank for Africa, UBA Plc, has announced the retirement of its Group Chairman, Tony Elumelu and the appointment of Mr. Emmanuel Nnorom as his successor. In a statement announcing the board leadership change filed with the Nigerian Exchange, NGX, the bank stated: “Mr. Tony O. Elumelu, Group Chairman of UBA, will […]
