Billionaire investor and Chairman of First Holdco Plc, Femi Otedola, has acquired an additional 1.78 billion shares in the financial institution worth N222.21 billion on the Nigerian Exchange Limited (NGX). A disclosure filed with the Exchange showed that Otedola purchased 1,779,094,976 ordinary shares at N124.90 per share, marking his largest single share acquisition in the...
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The Deputy Secretary-General of the United Nations, Amina Mohammed, has urged African leaders to move beyond policy commitments and focus on measurable actions that can transform the continent’s development trajectory. Speaking at the fifth Africa Social Impact Summit (ASIS 2026), themed “Financing for Development: Building Resilience and Transforming Emerging Economies,” Mohammed said Africa has the...
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Nigeria’s efforts to achieve its 2026 crude oil production and revenue targets have suffered a fresh setback following the declaration of force majeure by Esso Exploration & Production Nigeria Limited (EEPNL), an affiliate of ExxonMobil, on crude exports from its Erha deepwater field, placing about 200,000 barrels of oil per day at risk. The disruption...
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Nigeria, Lesotho Deepen Bilateral Ties to Expand Trade, Investment Opportunities ABUJA – Nigeria and the Kingdom of Lesotho have reaffirmed their commitment to strengthening bilateral relations through expanded trade, investment, technology, renewable energy and private sector collaboration as both countries seek to accelerate economic growth and advance Africa’s economic integration. The commitment was made at...
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LAGOS – The Central Bank of Nigeria (CBN) imposed N1.69 billion in penalties on financial institutions in 2025 for breaches ranging from delays in resolving customer complaints to non-compliance with regulatory directives, underscoring a tougher enforcement approach by the apex bank. According to the CBN’s 2025 Annual Report, 32 sanctions were issued during the year,...
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The United Kingdom and Nigeria have reaffirmed their commitment to strengthening one of Africa’s most enduring bilateral relationships following a meeting in London between the UK’s incoming High Commissioner to Nigeria, Peter Vowles, and Nigeria’s High Commissioner to the United Kingdom, Ambassador Aminu Dalhatu. The meeting, held as Mr Vowles prepares to assume office in...
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The Independent National Electoral Commission (INEC) has dismissed reports circulating on social media claiming it revised the campaign timetable for the 2027 general elections, describing the information as false. A viral graphic had claimed the commission issued a new campaign schedule in line with the Electoral Act, indicating that campaigns for the presidential and National...
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The Progressive Local Government Chairmen’s Forum, the umbrella body of 685 All Progressives Congress (APC) local government chairmen, has announced plans to organise a mega rally in Abuja to endorse President Bola Tinubu for a second term ahead of the 2027 general elections. The forum’s chairman and Chairman of Chanchaga Local Government Area of Niger...
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The Confederation of African Football (CAF) has urged its member associations to examine FIFA’s controversial proposal to sell minority commercial interests in the FIFA World Cup and other competitions to private investors. In a statement issued on Wednesday, CAF said its President, Dr. Patrice Motsepe, will convene a meeting of the CAF Executive Committee next...
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Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has urged Nigeria to sustain its macroeconomic reforms and ensure they translate into jobs and improved living standards if the country is to take advantage of emerging opportunities in global trade. Speaking at the opening of the 7th Africa Emerging Markets Forum in Abuja on...
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