Lagos State has closed the bookbuild for its landmark ₦200 billion bond issuance, drawing an exceptional response from investors and ending with a 55 per cent oversubscription. Commissioner for Finance, Yomi Oluyomi, confirmed the strong market appetite, noting that the ₦14.8 billion Green Bond component was also significantly oversubscribed. The conventional bond, now the largest…
Bitcoin fell 5% on Friday, November 14, sliding to $94,483 as a broader risk-off mood swept through global financial markets. The steep drop compounds recent losses, pulling the world’s largest cryptocurrency to its lowest level in six months. The move underscores a growing sense of investor caution driven by several overlapping market pressures. A major…
Dangote Petroleum Refinery has officially withdrawn its ₦100 billion lawsuit challenging the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the issuance of petroleum import licences. The refinery had filed the case on September 6, 2024, alleging that the NMDPRA breached sections 317(8) and 317(9) of the Petroleum Industry Act (PIA) by…
Apple has officially joined the exclusive ranks of trillion-dollar tech giants, becoming one of only a handful of publicly traded companies to surpass a $4 trillion market valuation. The milestone follows similar achievements by Nvidia and Microsoft earlier this year, underscoring how Wall Street’s enthusiasm has shifted toward companies positioned to benefit from the ongoing…
The Nigerian Railway Corporation (NRC) has announced that the Warri–Itakpe Train Service (WITS) will resume operations on Wednesday, October 29, 2025, following weeks of suspension for essential maintenance and safety checks. In a statement issued on Sunday, October 26, NRC’s Chief Public Relations Officer, Callistus Unyimadu, explained that the temporary suspension allowed the corporation to…
Officials from the Kwara State Ministry of Environment have sealed a cold room in Ilorin, the state capital, after discovering that spoiled fish were being sold there to unsuspecting residents. According to reports, environmental officers intercepted a batch of spoiled fish and subsequently traced its source to the cold room, which was then shut down.…
U.S. President Donald Trump has granted a pardon to Changpeng Zhao, the co-founder of global cryptocurrency exchange Binance, who pleaded guilty to a money laundering charge in 2023, according to two sources familiar with the matter. In a statement, White House Press Secretary Karoline Leavitt said President Trump “exercised his constitutional authority by issuing a…
The Naira continued to trade at a wide margin between the official and parallel foreign exchange markets on Sunday, October 19. On the official Nigerian Foreign Exchange Market (NFEM), the Naira hovered in the mid-₦1,400s per dollar, while black market (parallel market) rates ranged between ₦1,485 and ₦1,500. This persistent gap between the official rate…
Elon Musk and his social media company, X (formerly Twitter), have reached a settlement with four former top executives over a dispute involving $128 million in severance pay. The group—former CEO Parag Agrawal, CFO Ned Segal, Chief Legal Officer Vijaya Gadde, and General Counsel Sean Edgett—sued the company in 2024. They alleged Musk withheld…
The Central Bank of Nigeria (CBN) has introduced a new regulatory framework for agent banking nationwide to enhance service quality, protect consumers, and promote financial inclusion. In a circular signed by Musa Jimoh, Director of the CBN’s Payments System Policy Department, the bank announced that the updated rules would take immediate effect, with certain provisions…
