Economy

  The Federal High Court in Abuja has ordered the final forfeiture of assets valued at approximately N2 billion linked to Alonge Opeyemi Yetunde and other individuals. The development was disclosed in a statement issued on Thursday and signed by Anthony Okon Placid of the Nigeria Police Force Headquarters, Abuja. What the Police are saying […]

  Nigeria’s equities market has lost more than N5 trillion in market capitalization since the start of June, as investors lock in profits following one of the strongest rallies in the history of the Nigerian Exchange Group (NGX). The pullback comes after the market crossed the N160 trillion capitalization mark at the end of May

Nigeria’s manufacturing sector experienced a sharp decline in foreign capital inflows in the first quarter of 2026, even as the country recorded one of its strongest performances in overall capital importation in recent years. According to data released by the National Bureau of Statistics (NBS), the production and manufacturing sector attracted $152.27 million in foreign

The Nigerian equities market extended its losing streak on Wednesday, with investors losing N2.28 trillion as sustained selloffs in major blue-chip stocks dragged the Nigerian Exchange (NGX) lower for the third consecutive trading session. Market data showed that the NGX All-Share Index (ASI) declined by 1.44% to close at 243,132.61 points, while total market capitalization

More than 20 million Nigerians living in underserved communities are set to gain access to digital connectivity under a new telecommunications infrastructure initiative backed by China’s Industrial Bank (CIB). The announcement was made by the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, who disclosed that the bank would support the Nigeria Universal Communication

Legend Internet Plc has reassured investors of stronger future earnings and sustainable value creation after reporting a pre-tax loss of N199.34 million for the six months ended January 31, 2026, as increased spending on network expansion, rising operating costs, and higher financing expenses weighed on profitability. The broadband and digital services provider recorded its first

Nigeria’s Foreign Direct Investment (FDI) inflows declined sharply in the first quarter of 2026, underscoring persistent challenges in attracting long-term productive investments despite a significant increase in overall capital importation. According to the latest Capital Importation Report released by the National Bureau of Statistics (NBS), FDI inflows fell to $135.08 million during the quarter, down

  Tosin Eniolorunda, founder and Chief Executive Officer of Moniepoint, has said the next major growth opportunity in Nigeria’s payments ecosystem will come from building credit products on top of existing payment infrastructure. Speaking during a panel session at the launch of the Nigeria Payments System Vision 2028, Eniolorunda said Nigeria’s payments industry has reached

The Federal Government has disclosed that the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) has provided N128 billion in affordable mortgage financing to 1,859 Nigerian families across 25 states, in a move aimed at expanding access to home ownership. The disclosure was contained in a statement issued by Bayo Onanuga, who noted that

  The National Talent Export Programme (NATEP) has commenced the development of an innovative financing framework aimed at supporting talent development and export-led economic growth in Nigeria. The programme disclosed this in a statement issued on Tuesday as it marked one year since its relaunch under the administration of Bola Ahmed Tinubu. According to NATEP,