Fidelity Bank Posts Strong Q1 Performance Fidelity Bank Plc recorded a strong financial performance in the first quarter of 2026, with gross earnings rising by 37.9 per cent to N434.95bn. The bank disclosed this in its interim report for the three months ended March 31, 2026, released on the Nigerian Exchange. Gross earnings increased from…
WMO Predicts Continued Rise in Global Heat The World Meteorological Organization has warned that global temperatures will likely remain at or near record levels over the next five years. The agency released the warning on Thursday as parts of western Europe experienced extreme heat conditions. According to the report, the world could witness a new…
Corporate Tax Payments Rise by 10.6% No fewer than 89 companies listed on the Nigerian Exchange paid a combined N579.78bn as company income tax in the first quarter of 2026. The figure represents a 10.60 per cent increase from the N524.23bn recorded in the same period of 2025. An analysis of unaudited financial statements showed…
Middle East Conflict Pushes Food Costs Higher Global food prices rose by five per cent within two months after the near-total closure of the Strait of Hormuz, according to a new World Bank analysis. The disruption followed the outbreak of conflict in the Middle East in late February 2026. As a result, global food prices…
Fintech Launches Faster Digital Conversion Platform Monica Cash, a Nigerian fintech platform focused on digital asset solutions, has expanded its operations in Nigeria’s crypto market. It introduced an automated crypto-to-fiat conversion service to improve Bitcoin-to-Naira transactions. Meanwhile, the company said the new system delivers faster, safer, and more reliable exchanges. It also aims to reduce…
NNPC Opposes Dangote’s Legal Action The Nigerian National Petroleum Company Limited has asked the Federal High Court in Lagos to dismiss a suit filed by Dangote Petroleum Refinery. NNPC argued that granting the refinery’s requests could create monopoly control in Nigeria’s downstream petroleum sector. The company stated this in a counter-affidavit filed before the Federal…
Regulator Halts ‘No-Pay, No-Service’ Directive The Nigeria Civil Aviation Authority has suspended its “No-pay, No-service” directive against domestic airlines over unpaid statutory remittances. The regulator said it took the step to protect stability in Nigeria’s aviation sector. NCAA Director-General Chris Najomo announced the decision on Monday. He said officials reached it after wide consultations and…
Global Market Watches Key Developments A major drop in oil prices may happen if the United States and Iran reach a final agreement to reopen the Strait of Hormuz. The development could ease pressure on global crude supply and reduce fuel prices. As of Sunday, Brent crude hovered between $103 and $105 amid growing optimism…
Deal Advances Nigeria’s Gas Industrialisation Plan Tetracore GTL Limited has signed a Memorandum of Understanding with Velocys Technologies Limited of the United Kingdom. The agreement supports a modular gas-to-liquids plant planned for Atakabo in Ogun State. The company said the project aligns with its gas monetisation and industrialisation strategy. It also positions natural gas as…
Revival Ends Long Disruption at Key Abia Facility The Niger Delta Power Holding Company has restored operations at the 450-megawatt Alaoji Open Cycle Power Plant in Abia State after a 36-month shutdown. Gas supply disruptions, metering disputes, and unpaid obligations had forced the facility offline. NDPHC Managing Director and Chief Executive Officer, Jennifer Adighije, disclosed…
