When SpaceX debuted on the Nasdaq in June, the historic listing did more than make Elon Musk the world's first trillionaire on paper. It instantly added more than $2 trillion to the value of companies traded on the Nasdaq exchange and demonstrated how a single corporate giant can reshape a stock market. For Nigeria, the …
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has said that more than 80 per cent of financial crimes in Nigeria are perpetrated through procurement fraud and the use of registered companies. Olukoyede hinted at this while receiving the Board of the Corporate Affairs Commission (CAC), led by its Chairman, …
The Central Bank of Nigeria (CBN) has directed banks, payment service banks, and other financial institutions to immediately freeze accounts and assets linked to six individuals and four bureaux de change (BDCs) recently designated under terrorism and terrorism-financing sanctions. In a circular signed by Olubunmi Ayodele-Oni for the Director of the Compliance Department, the CBN …
The decision by the Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) to require regulatory approval for significant changes in telecom company ownership raises concerns about whether the measure will strengthen market transparency or create fresh hurdles for investors. Under the new framework announced on June 21, any transfer of shares amounting to …
The Nigerian Exchange Limited (NGX) has introduced a major change to the way share prices move on the stock market. The rules have, however, sparked concerns among market participants. Under the revised pricing framework, stocks will now require a minimum volume of shares to be traded before their market prices can change. According to the …
The #EndBadGovernance Movement in Lagos State has condemned the revocation of the bail granted to activist and former presidential candidate Omoyele Sowore. In a statement on Tuesday signed by Hassan Taiwo Soweto and Oloye Adegboyega-Adeniji on behalf of the organising committee of the movement, they described Sowore’s detention in Kuje prison as evidence of growing …
A coalition of community groups and civil society organisations has backed waterfront residents in Lagos seeking the reversal of demolitions and forced evictions carried out in defiance of existing court orders. In a statement issued on Tuesday, the Coalition against Demolition, Forced Eviction, Landgrabbing and Displacement in Lagos State said it stood in solidarity with …
The Securities and Exchange Commission (SEC) has ordered an immediate halt to all marketing and promotional activities relating to a purported initial public offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE, warning that no such offer has been filed with or approved by the regulator. In a public notice issued on Tuesday, the Commission …
Aradel Holdings Plc delivered one of the strongest earnings performances in Nigeria's oil and gas sector in the first quarter of 2026. The company posted a triple-digit growth in revenue, profit and production following the expansion of its asset base. Its revenue surged by 265 per cent to ₦728.5 billion, from ₦199.9 billion a year …
Nigeria's latest Company Income Tax (CIT) figures have exposed a growing imbalance in the economy, with foreign-linked entities contributing significantly more tax revenue than domestic businesses. This worry comes at a time when key productive sectors are showing signs of distress. Data released recently by the National Bureau of Statistics (NBS) showed that total CIT …
