The Central Bank of Nigeria has introduced new technology-driven regulations requiring banks and financial institutions across Nigeria. To deploy automated anti-money laundering AML systems in a major move to strengthen the detection of suspicious financial transactions. The directive is part of the regulator’s broader effort to modernize the country’s financial monitoring framework. Also and curb…
Africa’s largest retail chain, Shoprite Holdings, has officially shut down all its operations in Nigeria, bringing an end to almost two decades of business activity in the country. The South African retail giant first entered the Nigerian market in 2005. Also quickly becoming one of the most recognizable supermarket brands across major cities. However, after…
Governor Alex Otti has approved 100 hectares of land for the Nigerian Air Force to establish a training base at the Abia Airport Project Site. Also marking a major step in strengthening security infrastructure in Abia State. The approval granted on Tuesday, March 10, when the governor received a delegation from the Air Force Base…
The Presidential Initiative on Compressed Natural Gas (PiCNG) has announced plans to deploy 100,000 vehicle conversion kits across Nigeria as part of efforts to reduce the impact of rising petrol prices and promote the use of cheaper fuel alternatives. The development disclosed by Ismael Ahmed, Executive Chairman of PiCNG. After a closed-door meeting with Bola…
The World Bank has commended the government of Nigeria for its recent economic reforms. Noting that the measures have helped stabilise the nation’s economy and lay the foundation for long-term growth. According to the global financial institution, the reforms are positioning Nigeria on a new economic trajectory. Which could lead to increased job creation, improved…
Global music icon Beyoncé has officially made her debut on the Forbes Billionaire List of the world’s richest women. Also with an estimated net worth of $1 billion. The milestone places Beyoncé among an elite group of female billionaires and highlights her transformation from a chart-topping artist into a powerful business mogul. From Music Superstar…
Authorities have identified the woman accused of firing shots at the home of global music star Rihanna as Ivana Lisette Ortiz, a 35-year-old suspect now facing serious criminal charges. According to reports cited by TMZ, Ortiz has booked for attempted murder. With bail set at a staggering $10,225,000 following the alarming incident. Incident Sparks Major…
The Federal Government of Nigeria has unveiled a ₦10 billion Sugar Project Acceleration Fund. That aimed at expanding large-scale sugar production and strengthening the country’s agricultural value chain. The initiative jointly introduced by the National Sugar Development Council (NSDC) and the Bank of Industry (BOI) to support the development of new sugar projects across the…
Dangote Refinery has announced a reduction in the price of refined petroleum products. Thus lowering the Petrol Price to ₦1,075 per litre while diesel now sells at ₦1,430 per litre. The Petrol Price adjustment is expected to have a significant impact on Nigeria’s fuel market. Potentially easing fuel costs for businesses, transport operators, and consumers…
Nigeria has officially signed the Host Country Agreement to stage the Intra-African Trade Fair 2027 (IATF 2027). Thus setting the stage for one of Africa’s largest trade and investment gatherings to take place in Lagos from 5–11 November 2027. The landmark agreement positions Nigeria as the host nation for the major continental event. That’s aimed…
