The Nigerian Exchange Limited set to upgrade its trading system as Nigeria officially adopts a T+1 settlement cycle starting May 29, 2026. What T+1 Means (Simple Breakdown) Currently, when you sell a stock, it takes two business days (T+2) before your money is available. With T+1: However, This is a major improvement from Nigeria’s previous…
President Bola Ahmed Tinubu and First Lady Oluremi Tinubu have departed Abuja for a landmark state visit to the United Kingdom, following an invitation from King Charles III and Queen Camilla. First Royal Hosting in Nearly Four Decades The visit is particularly significant as it marks the first time in 37 years that a Nigerian…
The AfCFTA Secretariat has held high-level talks with The Coca-Cola Company to explore new ways of expanding intra-African trade and strengthening regional value chains. Driving Local Sourcing Across Africa A key focus of the meeting was how to increase local sourcing of raw materials across African markets, reducing dependence on imports while supporting local farmers…
The Central Bank of Nigeria (CBN) has directed all banks to immediately reverse failed ATM transactions, introducing stricter rules to protect customers and improve trust in Nigeria’s payment system. Faster Refunds for Customers Under the new guidelines, failed “on-us” transactions—when you use your own bank’s ATM—must reversed instantly. If technical issues prevent an immediate refund,…
The African Development Bank Group has approved a $5.52 million grant aimed at strengthening tax systems administration. Also and improving domestic revenue generation in Nigeria and other West African countries. Strengthening Revenue Tax Systems The funding is expected to support efforts to modernize tax system. Improve compliance, and enhance efficiency in revenue collection across the…
Africa’s richest man, Aliko Dangote, has secured a $4.2 billion, 25-year natural gas supply deal with GCL Group to power a massive fertilizer mega project in Ethiopia. A Multi-Billion Dollar Industrial Project The fertilizer plant, valued at $2.5 billion, developed by Dangote Group. Which holds a 60% stake, alongside Ethiopian Investment Holdings, which owns the…
The United States has opened a sweeping trade probe investigation involving Nigeria, South Africa, and several other countries, citing concerns over alleged unfair trade practices. What the Investigation Is About However, Washington says the trade probe is part of a broader effort to address global trade imbalances and protect domestic industries. The investigation will examine…
Leading Nigerian financial institution Zenith Bank Plc has announced the opening of a new branch in Manchester. Thus marking another step in its international expansion strategy. The move is part of the bank’s broader effort to strengthen financial connections between Africa and global markets, particularly between Nigeria and the United Kingdom. Expanding International Presence The…
A passenger train traveling from Kaduna to Abuja derailed Monday morning, injuring multiple passengers and disrupting rail services along the critical corridor. The accident occurred near the Kubwa district of the Federal Capital Territory at approximately 8:30 a.m. local time. Incident Details Emerge The Nigerian Railway Corporation confirmed the derailment in a brief statement issued…
President Bola Ahmed Tinubu is set to visit London in what officials describe as a key opportunity to renew and deepen the long-standing partnership between Nigeria and the United Kingdom. The upcoming visit was highlighted by Sunday Dare, Special Adviser to the President on Media and Communication. Who said the trip represents more than a…
