Heineken names Rafael Oliveira as its new CEO. The former JDE Peet’s boss will lead the brewer as it tackles weaker beer sales and job cuts Heineken has chosen Rafael Oliveira as its new chief executive officer, marking a major leadership change for the Dutch brewing giant. The company announced on Tuesday that Oliveira will…
The federal government has directed security agencies and regulators to clamp down on hoarding, illegal diversion and speculative storage of liquefied petroleum gas (LPG), popularly known as cooking gas. The move comes amid a sharp increase in cooking gas prices across the country. FG summons stakeholders Ekperikpe Ekpo, minister of state for petroleum resources (gas),…
Business mogul Tony Elumelu has sparked fresh conversations after revealing the secret behind his success. The Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation said luck played a major role in his journey. He made the statement during an interview with popular YouTuber Korty EO. His comments have surprised many people who…
President Bola Tinubu has granted a six-month tenure extension to Adewale Adeniyi, comptroller-general of the Nigeria Customs Service (NCS). Bayo Onanuga, special adviser to the president on information and strategy, announced the decision in a statement on Friday. According to Onanuga, Adeniyi’s current tenure was due to expire on August 1, 2026. However, the president…
Nigeria’s foreign reserves have crossed the $51 billion mark for the first time in 17 years. Fresh data from the Central Bank of Nigeria (CBN) shows that reserves rose to $51.04 billion on June 18, 2026. The last time reserves reached this level was in January 2009. This milestone highlights a stronger external position for…
The British Pound falls as the naira strengthens to ₦1,825 per £1 amid UK political uncertainty, reflecting volatility in the GBP to NGN exchange rate. The Nigerian naira strengthened against the British pound on the foreign exchange market as political uncertainty continued to cloud the UK economy. The pound traded at about N1,825/£1, highlighting the…
Peter Obi, presidential candidate of the Nigeria Democratic Party (NDC), has criticised the borrowing policy of President Bola Tinubu’s administration, saying Nigerians are not given enough information about how borrowed funds are spent. Obi spoke in a post on X on Thursday. The former Anambra governor said borrowing is not inherently bad. However, he argued…
The federal government has launched FreeTV as part of efforts to expand access to digital television across Nigeria. In a statement on Wednesday, the FG said the platform will provide households with free access to more than 100 television channels without monthly subscription fees. FreeTV forms part of Nigeria’s Digital Switch-Over (DSO) programme, which seeks…
Shell appoints Elohor Aiboni as Executive Vice President and Country Chair Nigeria. She becomes the first Nigerian to hold the role in Shell’s history Shell has appointed Elohor Aiboni as Executive Vice President and Country Chair Nigeria. The appointment takes effect on August 1, 2026. With this move, Aiboni becomes the first Nigerian to hold…
Naira Weakens to N1,361.5/$ as FX Market Turnover Drops 57% The naira recorded a slight loss against the US dollar on Wednesday at the Nigerian Foreign Exchange Market (NFEM). Data from the Central Bank of Nigeria (CBN) showed the local currency closed at N1,361.5/$, compared to N1,356.5/$ in the previous trading session. However, the bigger…
