Blog
Nigerian-American entrepreneur Yinka Ogunbiyi has closed a $7 million seed round to commercialise HaloBraid, billed as the first patented braid-assist mechanical technology of its kind. The round was led by Seven Seven Six, the venture firm founded by Reddit co-founder Alexis Ohanian, with further backing from AlleyCorp and Bling Capital. The startup enters its commercial […]
Lekki Deep Seaport has received the maiden call of the HMM-ONE alliance service, marking the launch of the Mediterranean West Africa Service (MA2) and adding another direct link between Nigeria and international markets. The container service is operated jointly by Hyundai Merchant Marine and Ocean Network Express, and connects major European ports with West African […]
Banking system liquidity fell 18.4 per cent week-on-week to ₦3.78 trillion, down from ₦4.63 trillion, after a combination of Central Bank of Nigeria cash reserve ratio debits, a private open market operations auction and a Debt Management Office bond sale that allocated ₦929.32 billion drained cash from the system. Dealers expect roughly ₦2.56 trillion in […]
The Independent Petroleum Marketers Association of Nigeria has questioned whether fuel import licences are achieving their purpose, after imported petrol emerged priced above supply from the Dangote refinery. National Publicity Secretary Chinedu Ukadike put imported product at around N1,350 per litre, roughly 20 per cent above what marketers pay for Dangote supply. The point he […]
Fintech operator OPay has set out a layered approach to fraud prevention, presented at a media parley on 16 July, built around applying friction selectively rather than uniformly. The model is risk-based: routine transfers pass through unimpeded, while transactions judged higher risk trigger facial verification. Several controls sit on top of that. Night Guard requires […]
FirstHoldCo Plc reported gross earnings of N1.93 trillion for the half-year ended 30 June 2026, up 16.7 per cent year on year, with profit before tax rising 83.5 per cent to N653.5 billion. The gap between those two growth rates is the story. Operating income grew 25.8 per cent to N1.38 trillion while the cost-to-income […]
Thirteen West African nations have approved the Nigeria-Morocco gas pipeline, a 27 billion dollar project agreed by the ECOWAS Authority at its 69th Ordinary Session in Lungi, Sierra Leone. The pipeline is designed to run roughly 6,900 kilometres and carry 30 billion cubic metres of natural gas a year. The next phase covers establishing the […]
The Central Bank of Nigeria is widely expected to leave its Monetary Policy Rate unchanged at 26.50 per cent as the Monetary Policy Committee concludes a two-day meeting chaired by Governor Yemi Cardoso. The case for holding rests on a set of indicators pointing in the same direction. Headline inflation eased marginally to 15.91 per […]
Central Securities Clearing System (CSCS) Plc has declared an interim dividend of N1 per ordinary share, the first time the financial market infrastructure provider has paid one, following results for the half-year ended 30 June 2026. Total operating income reached N18.51 billion, a 92 per cent increase. Operating profit rose 186 per cent to N10.11 […]