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FCCPC places 112 loan apps on watchlist over infraction, grants operational licenses to 48 others
Federal Competition and Consumer Protection Commission (FCCPC) has granted full operational approvals to 48 digital loan companies that previously held conditional approval, bringing the total number of fully licensed digital money lenders in Nigeria to 505. This is also as the…
Ikeja Eectric appoints Onyelucheya Acting CEO, replaces Soetan
Electricity distribution company (DisCo) distribution company in the country, the Ikeja Electric (IE), has appointed Mrs. Ogochukwu Onyelucheya as its Acting Chief Executive Officer (CEO), effective from July 1, 2026. The appointment follows the elevation of outgoing CEO, Mrs. Folake Soetan…
IPMAN decries bearing brunt of petroleum products market volatility
Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have decried bearing the brunt of market volatility in the downstream petroleum sector, even as they berated the frequent products’ pump price fluctuations in the country. IPMAN leadership disclosed this…
CBN orders banks to freeze assets of six persons, four BDCs over terrorism financing
Sequel to the action taken by the United States government in exposing three persons, including a Nigerian foreign exchange dealer linked to a terrorism group, the Central Bank of Nigeria (CBN) has followed with a directive to commercial banks to freeze…
Only 20% of POS operators registered, as EFCC, CAC move to review MoU on tackling financial crimes
Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC) have pledged to collaborate in a bid to safeguard Nigeria’s financial system. This is also at it emerged that only 20 per cent of the country’s Point of Sale…
Providus, Unity Bank merger deal enters final phase
Proposed merger of Providus Bank and Unity Bank has officially entered its integration phase. According to the new establishment, now known as ProvidusUnity Bank Limited, the merger deal is now in its final integration stage following the successful completion of all…
Enugu airport concession deal complete, as firm takes over management
Federal Government has formally transferred operation and management of the Akanu Ibiam International Airport, Enugu, to Aero Alliance Limited. The development marks the conclusion of a concession process which commenced nearly two decades ago but stalled by trade unions’ disapproval,…
NMDPRA grants Q3 2026 import licenses to bridge supply gaps
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved another round of import permits for petrol and diesel ahead of the third quarter of 2026 (July – September) as authorities move to bridge potential supply gaps in the domestic market….
SpaceX shares crash by $600bn in market value in one week, as Musk loses trillionaire status
SpaceX shares had peaked at $225.64 on June 16, but less than a week after the largest IPO in history, shares crashed to $147.11 briefly dipping below the opening price before recovering again to close at around $156. The slide wiped…
SEC bans marketing of ‘unapproved’ Dangote Refinery IPO with immediate effect
Capital market regulator, the Securities and Exchange Commission (SEC) has banned the marketing and promotion of a purported initial public offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE with immediate effect. According to SEC, no application for such an…
