Nigeria’s 11 electricity Distribution Companies (DisCos) generated ₦220.93 billion in revenue from customers in August 2026, representing a 7.49 per cent increase from the ₦205.53 billion recorded in July, as billing and revenue collection efficiencies improved during the period. The latest Commercial Performance Factsheet released by the Nigerian Electricity Regulatory Commission (NERC) showed that the …
Aliko Dangote has unveiled a $50 billion investment plan for 2026 to 2030, targeting expansion across Africa’s energy sector through refinery projects, petroleum pipelines and distribution networks. The President of Dangote Industries Limited disclosed that the Group had acquired a 25 per cent stake in a petroleum products pipeline network in Kenya as part of …
The Central Bank of Nigeria (CBN) Governor Olayemi Cardoso and senior African financiers met major Asian banks in Bangkok, in talks that organisers say have moved towards a financing deal worth more than $1 billion. Singapore-based Global Markets, which co-convened the closed-door West Africa–Asia Capital Dialogue with the ECOWAS Bank for Investment and Development (EBID), …
Union Bank of Nigeria has nurtured and retained generational customers, some of whom have maintained banking relationship with the Nigerian financial institution for two or more generations, a survey has revealed. The survey found that hundreds of families and businesses have maintained relationships with the bank for 60 to 80 years, since the days …
The National Pension Commission (PenCom) says eligible retirees can receive their retirement benefits within 48 hours of completing the required application process and submitting the necessary documents. The Head of Corporate Communications at PenCom, Ibrahim Buwai, further explains this after the PenCom Boss disclosure during a technical session at the 2026 PenCom Media Conference in …
Nigeria’s pension assets have surged by N10.78 trillion in less than two years, rising from N20.7 trillion in July 2024 to N31.48 trillion in June 2026. The Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, disclosed this on Tuesday at PenCom’s 2026 Media Conference, themed “From Reform to Reality: Renewed Hope, Pension Security for …
The International Monetary Fund (IMF) has raised its 2026 growth forecast for Nigeria by 0.1 percentage point to 4.2 per cent. It left its 2027 projection unchanged at 4.3 per cent and urged the government to cushion vulnerable households from rising food and energy prices. The projections are in the Fund’s latest World Economic Outlook, …
Airtel Money began conditional trading on the London Stock Exchange’s Main Market today under the ticker “AMC”. The Offer was priced at £1.96 per share, giving the mobile money business a market capitalisation of about £5.3 billion. All shares in the offer were sold by existing shareholders. Airtel Money, formally Airtel Mobile Commerce N.V., issued …
World Bank Group President Ajay Banga has praised Nigeria’s economic reforms, citing a twentyfold rise in private capital inflows, from about $300 million in 2023 to nearly $6 billion in 2026. The meeting took place on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand, with the Minister of …
Leaked emails show that Deloitte’s Cyprus affiliate approved backdated paperwork for companies beneficially owned by Roman Abramovich. This helped the firms retroactively shift billions of dollars in assets from Cyprus to the British Virgin Islands (BVI) in an apparent attempt to get around tightening tax and transparency laws. The findings come from the Cyprus Confidential …
