August 8, 2025
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Business

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Business

Unity Bank and AfriGo Explore Collaboration to Deepen Access to Electronic Payments

Unity Bank Plc and AfriGo, a leading payments technology company, have initiated discussions to strengthen collaboration aimed at expanding access to electronic payment systems across Nigeria. The partnership seeks to leverage AfriGo’s advanced payment solutions alongside Unity Bank’s extensive banking network to promote financial inclusion, particularly among underserved populations. This strategic engagement focuses on deploying

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Business General

Equities Market Closes in Red as NGX Loses N48bn Amid Spike in Trading Volume

The Nigerian stock market ended the final trading session of the week on a bearish note, as the Nigerian Exchange Limited (NGX) witnessed a market capitalisation decline of N48 billion, underscoring continued investor apathy and cautious sentiment. By the close of trading on Friday, the total market capitalisation had slipped to N70.5 trillion, down from

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Business Finance

Moody’s Upgrade of Nigeria’s Credit Rating a Positive Signal to Global Investors – President Tinubu

President Bola Ahmed Tinubu has described the recent upgrade of Nigeria’s credit rating by international financial services giant Moody’s Investors Service as a strong vote of confidence in the country’s economic reforms and a clear signal to global investors that Nigeria is on a path of sustainable growth. Speaking in Lagos on Saturday, the President

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Business Politics

Women Affairs Minister Calls for Greater Female Representation in Politics and Business

The Honourable Minister of Women Affairs, Barr. (Mrs.) Uju Kennedy-Ohanenye, has reiterated the urgent need for stronger female representation in Nigeria’s political and business sectors, describing the current gender disparity as a major obstacle to inclusive national development. Speaking at a stakeholders’ forum held in Abuja on Thursday, the Minister emphasized that women must be

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Business Economy

ARCON to Probe ₦1 Billion Mobile Advertising Debt, Vows to Enforce Nigerian Advertising Laws

The Advertising Regulatory Council of Nigeria (ARCON) has launched a formal investigation into an outstanding ₦1 billion debt linked to mobile advertising operations in the country. The regulatory body says it is determined to hold defaulters accountable while ensuring full enforcement of Nigeria’s advertising laws and ethical standards. In a statement issued by its Director-General,

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Business Fraud

Ex-Union Bank Executive Testifies in AMCON N76bn Fraud Trial, Reveals Why He Forgave Arik Air’s $2.3M Debt

Lagos — A former Group Executive Director of Union Bank Plc, Mr. Austine Obigwe, has disclosed that he voluntarily wrote off a $2.3 million debt owed by Arik Air to his private firm, Staal Nigeria Limited, citing the airline’s operational difficulties at the time. He made this known while testifying before the Lagos State Special

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Business

Federal Fire Service Pledges Support for Locally Made Products

The Federal Fire Service (FFS) has reaffirmed its commitment to supporting the growth and development of locally made products across Nigeria. In a recent statement, the Service emphasized the importance of encouraging indigenous manufacturing and innovation as vital components of national economic growth. The FFS pledged to collaborate with local producers to ensure that their

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Business Finance

Coronation Merchant Bank Records Impressive N13.4bn Profit Before Tax, Marks Decade of Strategic Growth

Coronation Merchant Bank has posted a remarkable profit before tax (PBT) of N13.4 billion for the financial year ended 2024, representing a significant 283 per cent rise from its PBT in the previous year. The bank also reported a post-tax profit of N12.9 billion, a staggering 303 per cent jump from the N3.2 billion recorded

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Business

Access Bank Not Owing FCTA Ground Rent – Source Affirms, Branch Operates Uninterrupted

A reliable source within the Federal Capital Territory Administration (FCTA) has dismissed claims circulating in some quarters suggesting that Access Bank is indebted to the administration over unpaid ground rent. Contrary to speculation, the source confirmed that the leading financial institution is up to date with its statutory obligations concerning its property in Abuja. This

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Business

Nigeria Launches Air Cargo Trade Corridor with East and Southern Africa to Boost Intra-Continental Trade

In a landmark move aimed at strengthening regional trade and enhancing Nigeria’s participation in the African Continental Free Trade Area (AfCFTA), the Federal Government has officially launched the Nigeria–East/Southern Africa Air Cargo Corridor. The initiative, jointly unveiled by the Nigeria Customs Service (NCS) and the Federal Ministry of Industry, Trade and Investment (FMITI), took place

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