NGX market drops again as banking stocks lead losses, wiping N782 billion from investors in one session. Nigeria’s stock market slipped again on Tuesday, June 16, 2026, as selling pressure returned strongly. The NGX All-Share Index fell 0.50 percent to 241,984.80 points. Investors also lost about N782.44 billion in market value. Market capitalisation dropped to…
The UK sanctions Nigerian payment firm Pilot Finance over alleged Russia-linked transactions raising scrutiny and business risks. The United Kingdom has sanctioned Nigerian payment company Pilot Finance over alleged Russia-linked transactions. The firm, also known as Continental Global Incentives, was named in a new UK sanctions package announced on Tuesday. According to British authorities, the…
Dangote Refinery Cuts Petrol Price to ₦1,175 Per Litre Dangote Petroleum Refinery has reduced its petrol gantry price to ₦1,175 per litre. This latest price cut has sparked fresh discussions across Nigeria’s fuel market. Many marketers and consumers are already watching closely to see what happens next. As a result, fuel distribution costs could drop…
Petrol price in Nigeria may fall to ₦900 per litre if the US-Iran truce succeeds and crude oil prices continue to decline— Oil Marketers The possibility of cheaper petrol is raising fresh excitement across Nigeria. Industry operators say petrol prices could drop to as low as ₦900 per litre if the proposed peace deal between…
RBA Keeps Interest Rates on Hold, But More Hikes Are Still Possible Australia’s central bank has decided to keep interest rates unchanged at 4.35%. The decision comes after three rate hikes earlier this year. As a result, borrowers get a temporary break from rising loan repayments. However, the Reserve Bank of Australia (RBA) says inflation…
The dollar to naira exchange rate today remained relatively stable across both the official and parallel foreign exchange markets. Data from Nigeria’s official foreign exchange market showed the naira trading at approximately ₦1,362 per United States dollar on Friday, June 12, 2026, reflecting continued stability in the country’s forex market. The latest figures come after…
In 2025, Transcorp Hotels achieved a pretax profit of N32.8 billion, marking a 45.1% increase from the previous year. This growth is drives a 38.36% rise in revenue, reaching N97 billion. The company’s performance boosted by the reversal of a financial asset impairment loss. A previous loss of N69.1 million turned into a gain of N16.5 million, alongside reduced finance costs….
Three companies under Dangote Group strengthen their gas supply agreement with units of Nigerian National Petroleum Company Ltd (NNPC Ltd). These agreements aim to support their growth strategies while aligning with Nigeria’s transition to cleaner energy and industrialization. The announcement made during the launch of the Nigeria Gas Master Plan 2026 in Abuja on Friday….
First HoldCo Plc Chairman Femi Otedola has attributed the decline in profit for 2025 at First HoldCo to a planned N748 billion one-time impairment aimed at writing off bad loans on the balance sheet and strengthening the bank. Otedola provided this clarification in a statement shared on his X page. This situation arose because the…
