The Federal High Court in Lagos has granted an interim injunction, preventing Archlight Nigeria Limited from transferring its 50% equity shareholding in Ibadan Electricity Distribution Company Limited (IBEDC) to any other party. This development comes as 86 Gardens Limited filed a lawsuit against Archlight Nigeria Limited and two other defendants over the alleged transfer of
Petrol prices in Nigeria may skyrocket to unprecedented levels as the uncertainty surrounding the naira-for-crude deal between the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Petroleum Refinery continues to brew. The six-month deal, which began in October 2024, has expired, and negotiations for its renewal are ongoing, but the outcome remains unclear.The Dangote
In a strategic move to accelerate the implementation of the African Continental Free Trade Area (AfCFTA), the Federal Government has inaugurated a central coordination committee to oversee the process and drive Nigeria’s participation in the landmark trade agreement. Speaking at the inauguration ceremony in Abuja, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole,
In a landmark move to enhance Nigeria’s financial sector, President Bola Ahmed Tinubu has signed the Investments and Securities Bill 2024 into law, replacing the Investments and Securities Act 2007. The newly enacted law is set to fortify regulatory oversight, boost investor confidence, and align the nation’s capital market with global best practices. A statement
Foreign investments in Nigeria’s equities market experienced a significant decline of 29.66 per cent in February 2025, falling to N18.05bn from the N25.66bn recorded in January. This drop, coupled with a reduction in foreign outflows, resulted in a steep 40.36 per cent decrease in total foreign portfolio transactions on the Nigerian Exchange Limited (NGX), which
The Executive Director of FATE Foundation, Adenike Adeyemi, has highlighted sound financial management as a critical success factor for mission-driven organizations, warning that even the most noble initiatives risk collapse without proper financial discipline.Speaking as the keynote presenter at the Lagos launch of “The Profit of Purpose: Mastering Financial Accounting and Reporting for Social Entrepreneurs,”
Lagos State is poised to attract a staggering £410 million investment through the ambitious Omi-Eko Project, according to the General Manager of the Lagos State Waterways Authority (LASWA), Mr. Oluwadamilola Emmanuel. In an exclusive interview, Emmanuel revealed that the project, backed by the Lagos State Government and funded primarily by international partners, aims to transform
Nigeria’s crude oil grades are experiencing low demand in the April trade cycle, with European buyers opting for lower-priced alternatives. According to a report by Argus Media, an independent energy and commodity price benchmarks provider, the trade cycle has shifted to May, leaving 15 April-loading Nigerian cargoes without buyers.The report attributed the low demand to
SystemSpecs Holdings Ltd has rebranded its subsidiary, Deelaa, to Whatadeal, launching a comprehensive digital commerce platform designed to revolutionize travel, events, and e-commerce across Africa.The rebranding announcement comes at a time when Nigeria and the broader African continent are experiencing a surge in demand for integrated digital services. The e-commerce and travel sectors are poised
President Bola Tinubu has signed the Investments and Securities Bill into law, providing a robust regulatory framework for Nigeria’s capital market. This milestone marks a significant step towards enhancing investor confidence, strengthening market oversight, and aligning Nigeria’s financial markets with global best practices.The new Investments and Securities Act 2024 repeals the Investments and Securities Act
