The Nigerian Exchange Limited (NGX) ended the week of July 17 on a mixed note, with a strong rally in banking stocks cushioning losses in the broader market as industrial counters weighed heavily on performance. Although the All-Share Index (ASI) slipped 0.14 per cent to close at 243,462.13 points, investors' wealth increased as market capitalisation …
In a bid to safeguard the future of Nigeria’s energy sector, the minister of power, Joseph Tegbe, has cautioned industry stakeholders against engaging in actions that might lead to regulatory conflicts, warning that such could undermine the newly decentralized electricity market. Speaking on Tuesday, July 14, at a workshop in Abuja, Tegbe stressed that the …
The Securities and Exchange Commission (SEC) said it has begun a nationwide campaign to help Nigerians recover unclaimed dividends and other funds arising from capital market transactions. It made this known in a statement on Thursday, saying that it is unacceptable for investors' money to remain unclaimed. According to the SEC, the campaign began with …
Nigerian motorists and commuters may soon face significantly stiffer penalties for traffic violations following the Senate's passage of the Federal Road Safety Corps (FRSC) Act (Amendment) Bill, 2026. Details of the FRSC Amendment Act obtained by Pinnacle Daily, on Thursday, showed that fines for several offences were raised by up to 300 per cent. The …
The Corporate Affairs Commission (CAC) has commenced the process of striking off 100,000 companies from Nigeria's corporate register over their failure to comply with statutory filing obligations. The exercise, announced in a public notice issued on Wednesday, is in line with Sections 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020, …
The Nigerian government has concluded the evacuation of its citizens from South Africa, following a wave of anti-immigrant violence and threats against foreign nationals. An Air Peace aircraft carrying 308 Nigerian returnees arrived at the Murtala Muhammed International Airport, Lagos, on Wednesday morning. The flight, which departed Oliver Tambo International Airport, Johannesburg, at 6.30 am, …
crude oil The Strait of Hormuz is a critical maritime route for the movement of vessels, with about 20 percent of the world's oil and gas supplies passing through it daily. Brent crude, the international benchmark, jumped 9 percent from $78.38 on Monday, July 13, to settle at $85.45 per barrel on Wednesday, July 15, …
The federal government has established a high-level Ministerial Advisory Committee (MAC) to provide strategic guidance on Nigeria's fiscal and macroeconomic reforms. This comes as the government seeks to accelerate implementation and ensure that the benefits of ongoing policies reach businesses and households. The committee was inaugurated on Tuesday in Abuja by the Minister of Finance …
South African anti-migrant group, March and March, has confirmed the death of its Gauteng regional leader, Andile Somgxada, who was shot in what the organization described as an assassination. According to reports, Somgxada was attacked while leaving his home earlier this month and died from his injuries last Thursday. His death was publicly confirmed on …
US President Donald Trump has reversed his plan to impose a 20 percent charge on cargo passing through the Strait of Hormuz, saying the proposed fee will instead be replaced by trade and investment agreements with Gulf countries. Trump announced the decision on Tuesday in a post on Truth Social, a day after saying the …
