Nigeria lost about 13.5 million barrels of crude oil valued at $3.3bn to theft and pipeline vandalism between 2023 and 2024, according to the Nigeria Extractive Industries Transparency Initiative (NEITI). The agency described the losses as a major blow to public revenue, stressing that the amount could have funded a […]
Author: Business Nexus
AfDB to Lend Nigeria $500m in Fresh Budget Support … Cites Tinubu’s Economic Reforms as Key Driver
The African Development Bank (AfDB) has announced plans to extend a $500m loan to Nigeria this year as part of a $1bn budget support programme, citing the country’s ongoing economic reforms under President Bola Tinubu as a major factor driving its decision. Executive Director representing Nigeria and São […]
SEC DG pushes for Capital Market integration to unlock West Africa’s growth
The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has urged West African countries to accelerate the integration of their capital markets, describing it as the only way to mobilise the scale of investment needed to drive the region’s development. Speaking at the Experts Meeting […]
PENGASSAN Warns of Possible Escalation if Dangote Fails to Honour Agreements …Says Will Use “Every Instrument” to Defend Members
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that it will not hesitate to escalate actions if Dangote Refinery fails to honour commitments reached with the Federal Government in resolving recent disputes over the termination of workers. The union, which suspended its […]
PENGASSAN Strike: Economist Warns of Investor Concerns, Urges Attention to Low-Income Oil Workers
An economist, Kelvin Emmanuel, has criticised the ongoing strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), warning that the industrial dispute with the Dangote Refinery could undermine investor confidence in Nigeria. He also called on labour unions to shift greater focus toward the plight […]
Afreximbank, LCCI Partner to Empower Nigerian SMEs Through AfCFTA Opportunities
African Export-Import Bank (Afreximbank) and the Lagos Chamber of Commerce and Industry (LCCI) have strengthened partnership to boost the participation of Nigerian small and medium-sized enterprises (SMEs) in intra-African trade, underscoring the country’s drive to harness the benefits of the African Continental Free Trade Area (AfCFTA). The partnership, which supported […]
Shareholders Approve Providus, Unity Business Combination
The shareholders and Boards of Directors of Providus Bank and Unity Bank at a court-ordered Extraordinary General Meeting (EGM) on Friday gave approval to proceed with the business combination of the two financial institutions. In a statement made available to the press, Providus Bank and Unity Bank expressed appreciation […]
Ecobank Completes Mozambique Exit with FDH Bank Acquisition
Ecobank Transnational Incorporated (ETI) has announced the completion of the divestment of its Mozambique subsidiary, Ecobank Mozambique S.A., to FDH Bank Plc, marking the lender’s full exit from the southern African country. The transaction, which was first disclosed on August 5, 2025, received all necessary regulatory approvals before […]
Coronation Securities Limited Clinches Dual Recognition as Africa’s Premier Trading Platform …Brands Review Magazine and International Finance Awards honour Nigeria’s fastest-growing securities brokerage
Coronation Securities Limited has secured two prestigious industry accolades, cementing its position as Africa’s leading securities trading and brokerage platform. The firm received the Best Securities Trading and Brokerage – Africa 2025 award from Brands Review Magazine, whilst the International Finance Awards recognised it as the Fastest Growing Online Trading […]
Afriland Towers: United Capital Group Holds Memorial Service for Deceased Colleagues
Afriland Towers: United Capital Group Holds Memorial Service for Deceased Colleagues United Capital Group held a solemn and befitting memorial service in honour of six colleagues who tragically lost their lives on Tuesday, September 16, 2025, following a fire incident at Afriland Towers, the company’s Lagos headquarters. The service, […]