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The company said in a regulatory filing Wednesday that it would offer exactly 555,555,555 shares -- Musk has often shown a penchant for idiosyncratic numbers in his businesses -- at $135 each. The post SpaceX Seeks Record $75bn In Stock Market Debut appeared first on Channels Te...
The Economic and Financial Crimes Commission (EFCC) has arraigned Musa Farouk Abubakar, an Abuja-based oil magnate, alongside his company, Abu-Haneefa read more EFCC arraigns oil magnate, firm, over alleged N691.7m fraud in Abuja
A stronger dollar, persistent inflationary pressures, and elevated energy costs weighed heavily on African economies in May, as escalating tensions read more Fewer African currencies gain in May as Iran war fuels volatility
This is the full details of the statement by receiver/manager regarding updates on Nestoil Limited - in Receivership. The post Nestoil Limited – In Receivership: Receiver/ Manager’s Rejoinder to article in The Guardian appeared first on Premium Times Nigeria.
Nigeria has been ranked among the ten least favorable countries for workers' rights in the 2026 Global Rights Index. This ranking highlights ongoing challenges in labor rights and protections within the country.
Nigeria's Treasury bill yields have increased due to strong investor demand for one-year securities. This trend indicates a positive outlook for the country's financial market.
Nigeria is looking to take advantage of falling Eurobond yields and stronger investor sentiment to refinance high-cost debt and raise read more Falling Eurobond yields open window for Nigeria to rework costly debt
Paras Energy Funding SPV Plc has successfully issued a ₦15 billion bond, with Rand Merchant Bank Nigeria leading the effort. This significant financial move is expected to enhance funding for energy projects in Nigeria.
Nigeria's liquidity pool has increased to N5.22 trillion, indicating a robust financial system. This growth comes amid expectations of new investments entering the market.
South Africa's unclear regulatory environment is undermining foreign investment confidence. Despite having credible institutions, the lack of regulatory certainty is a growing concern for investors.
Cocoa farmers in Africa are worried about ongoing fluctuations in market prices that jeopardize their livelihoods. Stakeholders are working to address these concerns and stabilize the market.
Nigeria and seven other African nations may face a 12.5% tariff on exports to the U.S. due to allegations of forced labor in their supply chains. This move could significantly impact their access to the American market.
Fresh Iranian attacks and a lack of progress in peace talks with the United States added to the downbeat mood, though oil prices dived on news of a ceasefire between Israel and Lebanon. The post Stocks Drop On AI, Rate Hike Worries As Lebanon Deal Hits Oil appeared first on Chann...
The Naira showed stability against the US dollar on June 4, 2026, with a narrow gap between official and parallel market rates. This indicates a balanced foreign exchange environment in Nigeria.
The National Bureau of Statistics reports that the cost of a healthy diet in Nigeria has risen to N1,541 per adult. This increase adds to the financial strain on households despite a moderation in the overall inflation rate.
The naira has appreciated to a near one-month high of N1,357.26 per dollar, reflecting improved liquidity conditions in the foreign exchange market. This positive trend indicates a strengthening of the currency amidst ongoing economic adjustments.
Capital importation in Nigeria has increased to $10.37 billion in the first quarter, largely due to a surge in portfolio investments. The UK, US, and South Africa are the top contributors, reflecting positive impacts from recent economic reforms.
The Naira has depreciated to N1,398 per dollar in the parallel market, down from N1,385. This marks a notable decline in the currency's value against the dollar.
Nigeria attracted $10.37 billion in foreign investment in Q1 2026, nearly double the previous year's amount. However, this influx is not translating into significant job creation.
The African Development Bank (AfDB) reports that Africa could generate $469 billion annually without increasing taxes. This can be achieved through enhanced administration and digitization of tax systems.
IFC and Standard Chartered have launched a $300 million risk-sharing facility aimed at enhancing supply chain finance for businesses in eight African countries, including Nigeria. This initiative is expected to significantly support local enterprises and boost economic growth.
Nigerian banks earned N209 billion from account maintenance fees in the first quarter of 2026, marking a 14% increase. This growth highlights the banks' ability to generate revenue through service charges.
Nigeria's capital imports surged by 84% to $10.37 billion in Q1 2026, primarily due to increased portfolio investments. This significant rise reflects growing investor confidence in the country's economic prospects.
President Tinubu has approved the 2026 oil block licensing round, which is expected to launch in the third quarter. This initiative aims to enhance upstream investment in Nigeria's oil sector.
Freight forwarders at the Seme border are urging a review of vehicle import restrictions due to business collapses and job losses since 2016. They emphasize the need for urgent action to address these challenges.
Nigeria Customs Service and World Bank launch a two-week post-clearance audit mission to strengthen compliance, revenue assurance, and trade facilitation.
NIMASA reaffirms its commitment to advancing African maritime integration, cooperation, and capacity development, strengthening the Blue Economy across the
The Leo Stan Ekeh Foundation (LSEF) has donated a multi-million Naira state-of-the-art AI-tech centre to Holy Ghost College, Owerri, Imo State, during the school’s 77th anniversary celebration. The tech facility,
With Nigeria targeting a $1 trillion economy by 2030, Meta says sustained investments in digital infrastructure, artificial intelligence and connectivity remained critical to unlocking the country’s growth ambitions. In this
Blessing Ibunge in Port Harcourt The Sundry Markets Limited (SML), the operator of the popular Market Square supermarket chain, has said that it has in the past 10 years engaged over 5,000 Nigerian in meaningful