CBN grants JPMorgan approval-in-principle to establish merchant bank
The Central Bank of Nigeria (CBN) has granted Approval-in-Principle (AIP) to JPMorgan to establish a merchant bank in Nigeria, to be known as JPMorgan Merchant Bank Nigeria Limited.
FCCPC pushes nationwide adoption as Lagos moves to end estimated billing
By Progress Godfrey The Federal Competition and Consumer Protection Commission (FCCPC) has backed Lagos State’s move to eliminate estimated billing, urging other states to adopt similar reforms across Nigeria’s electricity market. The Commission, in a statement on Tuesday, said the initiative signals a shift towards transparency, improved service delivery and stronger consumer protection, with smart […]
LPG price to hit N1,500/kg as depot stocks dry up
•Only Dangote Refinery, Ardova, Navgas have supplies By Udeme Akpan, Energy Editor There are indications that the price of Liquefied Petroleum Gas, LPG, also known as cooking gas, may rise sharply across country as depot stocks dry up amid increasing domestic demand. Checks by Vanguard yesterday showed that only the Dangote Petroleum Refinery, Ardova Plc and […]
Petrol consumption jumps 10.8% to 52.4m, defies higher pump prices
•Nigeria’s oil output rises to 1.663m By Udeme Akpan, Energy Editor & Obas Esiedesa Despite the increase in pump prices of Premium Motor Spirit, PMS, also known as petrol, Nigeria’s daily consumption increased by 10.78 per cent in April 2026 to 52.4 million litres, from 47.3 million litres recorded in March, according to data released by […]
Food crisis driven by insecurity, weak policy implementation — Stakeholders
By Cynthia Alo Stakeholders in the agriculture sector have blamed Nigeria’s worsening food crisis on insecurity, poor implementation of government policies and inadequate infrastructure. Speaking at the 2026 Nigerian-British Chamber of Commerce Agriculture and Agro-Allied Summit in Lagos, the stakeholders said persistent attacks on farmers, weak monitoring of intervention funds and poor policy execution are undermining […]
FX Infractions: EFCC clears over 1,000 bank accounts, prunes investigations to 16
By Peter Egwuatu The Economic and Financial Crimes Commission (EFCC) has concluded an investigation into an initial list of 1,146 bank accounts belonging to individuals and companies operating in Nigeria that were flagged for alleged foreign exchange (FX) infractions. According to a statement from the Federal High Court Abuja, made available to Vanguard, in a judgment […]
