The Federal Competition and Consumer Protection Commission (FCCPC) has withdrawn the criminal charge filed against MultiChoice Nigeria Limited and its top executives following an amicable settlement between both parties. FCCPC’s counsel, Daniel Amadi, informed Justice James Omotosho of the Federal High Court that the commission had filed a notice of withdrawal on August 16 after …
Gold prices soared beyond $4,000 per ounce for the first time in history on Wednesday as investors rushed to the safe-haven asset amid global economic and geopolitical tensions, as well as expectations of U.S. interest rate cuts. Spot gold climbed 1.3% to $4,034.59 per ounce by 09:31 GMT, while U.S. gold futures for December delivery …
The Central Bank of Nigeria (CBN) has unveiled fresh regulatory guidelines for Point-of-Sale (POS) operators and banking agents nationwide, directing them to maintain dedicated accounts or wallets solely for agent banking transactions. The new directive, contained in the Guidelines for the Operations of Agent Banking in Nigeria (October 2025), seeks to strengthen financial oversight, improve …
As the people groan over the unprecedented hike in the price of Liquefied Petroleum Gas (LPG), also known as cooking gas, the Dangote Petroleum Refinery has cut its ex-depot price from ₦860 to ₦760 per kilogram. This reflects a ₦50 reduction or 6.17 per cent drop from the previous price. The price is considered the …
The Debt Management Office (DMO) has opened for subscription, the October Federal Government of Nigeria (FGN) Savings Bond at a lower interest rate compared to the rate it offered in the previous month. DMO announced this in a circular on Monday, October 6. The offer opened today and will be closed on Friday, October 10 …
With the current drive and policies to ramp up crude oil production, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) aims to achieve about 2.5 million barrels per day of crude oil production in 2027. The Commission said since its establishment, the country has continued to record a continuous increase in crude oil production, now at …
Nigeria’s economy gained significant momentum in 2024, with Vice President Kashim Shettima, representing President Bola Ahmed Tinubu, announcing a rise in the country’s Gross Domestic Product (GDP) to ₦372.8 trillion, up from ₦309.5 trillion the previous year. President Tinubu described the progress as a clear indication that Nigeria’s fiscal and structural reforms are finally beginning …
Vice President Kashim Shettima has called for restraint and constructive dialogue between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the management of the Dangote Refinery, warning that no group or individual must hold the nation’s economy hostage. Representing President Bola Ahmed Tinubu at the opening of the 31st Nigerian Economic …
Wall Street traders and global investors were left without one of their most important economic signals on Friday after the U.S. government shutdown forced the delay of the monthly nonfarm payrolls report. For decades, the report has been considered the single most influential data release on the U.S. economy, guiding decisions across markets from stocks …
American soybean farmers are facing one of their toughest seasons in decades after losing access to their biggest customer, China. Despite trade missions to Nigeria, Vietnam, and Bangladesh, these alternative markets have not come close to replacing Beijing’s enormous demand. For the first time in more than 20 years, Chinese buyers have not purchased soybeans …
