Business Archives - Page 4 of 58

CBN Tightens Grip On Payments Sector, Orders Banks And Fintechs To Reveal Owners, Localise Data By 2027

NewsDeskNgJun 17, 2026June 17, 20260

CBN mandates beneficial ownership disclosure, local data storage and market-share limits to curb payments concentration risks. Central Bank of Nigeria (CBN) has ordered banks, fintechs, and other payment service providers to disclose their ultimate beneficial owners, localise payments transaction data, and comply with new market share limits designed to curb...

NGX Set For Dangote Refinery IPO, Eyes Dual Listing And Deeper Global Investor Ties

NewsDeskNgJun 15, 2026June 15, 20260

Chairman of the Nigerian Exchange Group (NGX Group), Dr. Umaru Kwairanga, has disclosed that the Exchange was getting set for the Initial Public Offering (IPO) of Dangote Refinery which is reportedly offering three billion ordinary shares at $0.35 per share, with investor demand already exceeding $2 billion. Kwairanga expressed NGX’s...

United Capital Gains Dual Market Licences In Ethiopia And Rwanda, Deepens African Expansion

NewsDeskNgJun 15, 2026June 15, 20260

United Capital secures investment banking licences in Ethiopia and Rwanda, advancing pan-African expansion and cross-border financial integration. United Capital PLC has secured investment banking licences in Ethiopia and Rwanda, marking a major milestone in its African expansion strategy and positioning the Nigerian financial services group as the first foreign institution...

United Nigeria Airlines Adds Two Boeing 737-800NG Aircraft To Boost Capacity

NewsDeskNgJun 15, 2026June 15, 20260

United Nigeria Airlines receives two aircraft to expand operations, strengthen partnerships, and enhance domestic and regional services United Nigeria Airlines has announced it has received two new aircraft to expand its operations, add more destinations in its domestic and regional services. The newly delivered equipment is a Boeing 737-800NG aircraft,...

CBN Moves To Bar HoldCos From Influencing Banks’ Lending Decisions

NewsDeskNgJun 13, 2026June 13, 20260

CBN proposes rules to ban parent companies from credit approvals and require 51% ownership of banking subsidiaries. The Central Bank of Nigeria (CBN) has proposed a sweeping overhaul of the regulatory framework for Financial Holding Companies (HoldCos), including measures to strengthen the operational independence of subsidiaries by prohibiting parent companies...

Dangote Net Worth Hits $36.5bn

NewsDeskNgJun 11, 2026June 11, 20260

Dangote’s wealth rises to $36.5bn as Bloomberg ranks him 61st richest globally. Africa’s richest man, Aliko Dangote, has added about $6.5 billion to his personal fortune since the beginning of 2026, pushing his net worth to approximately $36.5 billion and reinforcing his position as the continent’s wealthiest individual.According to data...

Seplat Energy Names Tony Elumelu Chairman, Appoints Effiong Okon CEO

NewsDeskNgJun 9, 2026June 9, 20260

Seplat energy unveils succession plan that will see Tony Elumelu chair the board and Effiong Okon lead operations. Seplat Energy Plc has announced a major leadership transition that will see businessman Tony Elumelu become Chairman from January 1, 2027, while veteran oil and gas executive Effiong Okon assumes the role...

GSK To Acquire Nuvalent For $10.6bn In Cancer Drug Push

NewsDeskNgJun 9, 2026June 9, 20260

GSK agrees to acquire Nuvalent for $10.6bn, strengthening its position in cancer drug development and expanding its oncology pipeline. GSK has agreed to acquire US listed biotech company Nuvalent in a $10.6 billion all cash transaction, signalling a stronger push into oncology as the drugmaker reshapes its long-term growth strategy...

Gold Falls To Two-Month Low As US Rate-Hike Expectations Strengthen

NewsDeskNgJun 8, 2026June 8, 20260

Gold prices slide to a two-month low as strong US jobs data fuels rate-hike expectations. Gold prices extended losses on Monday, falling to their lowest level in more than two months as investors reacted to growing expectations that the US Federal Reserve could raise interest rates before the end of...

Nestoil, Neconde Reclaim Headquarters As IGP Complies with Supreme Court Ruling

NewsDeskNgJun 7, 2026June 7, 20260

Nestoil and Neconde have regained control of their headquarters following a Supreme Court judgment overturning asset-freezing orders. Nestoil Limited and Neconde Energy Limited have regained possession of their corporate headquarters following compliance by the Inspector General of Police (IGP) with a recent Supreme Court judgment that restored control of the...