Novagist

The Nigerian equities market extended its recovery into a third consecutive session on Tuesday, June 9, 2026, as Airtel Africa’s maximum 10% daily gain, alongside broad-based buying in Tier 1 banking stocks and insurance counters, drove N834.67 billion in equities gains. The NGX All-Share Index appreciated by 0.53% to 244,697.62 points, while market capitalization rose […]

President Bola Tinubu has authorized the creation of a Presidential Task Force on Ebola Virus Disease Preparedness and Emerging Public Health Threats, alongside the immediate release of N10 billion in emergency intervention funding. This initiative aims to strengthen Nigeria’s readiness against the potential importation of the virus, as announced on Tuesday, June 9, by the […]

The International Monetary Fund (IMF) has reported that Nigerian banks increase lending rates significantly faster during monetary tightening cycles than they reduce them when policy is eased, a phenomenon the institution describes as a “rockets-and-feathers” pattern. This observation is detailed in the IMF’s June 2026 country report, Nigeria: Selected Issues, which examines the dynamics of […]

President Bola Tinubu has confirmed that the Federal Government is currently constructing over 15,000 housing units across Nigeria, marking a significant step in efforts to expand access to affordable housing and address the nation’s housing deficit. These projects form part of the Renewed Hope Agenda, which aims to deliver 100,000 homes nationwide through housing cities […]

Under the Tinubu administration, a significant shift in foreign capital flows has emerged, with investors increasingly favoring lending to Nigeria over direct investment. In the first quarter of 2026, a record $10 billion entered the country, yet nearly none of this capital is allocated to building factories, hiring workers, or sustaining operations beyond the next […]

The Central Securities Clearing System (CSCS) Plc has officially launched Nigeria’s T+1 settlement cycle, marking the country’s transition from a two-day settlement framework. This milestone aligns the Nigerian capital market with some of the world’s most advanced financial markets, a move that industry stakeholders say will improve market efficiency, enhance liquidity, and strengthen investor confidence. […]

Nairametrics has officially unveiled the nominees for the Capital Market Journalist of the Year category at the 2026 Capital Market Awards. This category honors journalists whose work significantly shapes capital market discourse while informing and educating the public through their respective media platforms. The nominees in this highly competitive category include Rotus Oddiri of Arise […]

The Nigerian box office witnessed a notable performance over the weekend of May 29 to 31, 2026, as the Nollywood family drama “Ajosepo: The Gathering” debuted with a total gross of N49.1 million. The film secured the second position on the box office chart, trailing behind the leading title “Call of My Life,” which earned […]

Ghana has issued a formal travel advisory urging its citizens to avoid non-essential travel to South Africa, following renewed reports of xenophobic attacks targeting African migrants. The advisory, released by the Ministry of Foreign Affairs in Accra on Monday, reflects growing concern over violence directed at foreign nationals in the country. The Ghanaian government stated […]

Artificial intelligence startup Anthropic has formally initiated the process of going public, filing paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO). This move positions Anthropic as the first major generative AI firm to begin the journey toward listing on public markets, edging ahead of rival OpenAI. The company […]

Fidelity Bank Plc has released its financial results for the first quarter of 2026, reporting a pretax profit of N92.4 billion. This figure represents a 12.57% decline compared to the N105.7 billion recorded in the same period of 2025. The bank’s performance was primarily underpinned by robust interest income, which rose to N314.4 billion from […]

Fidelity Bank Plc has reported a 37.9% increase in gross earnings for the first quarter of 2026, reaching N434.95 billion, as the international commercial bank continues to strengthen its core banking market share. The interim report and accounts for the three months ended March 31, 2026, released at the Nigerian Exchange (NGX), show that gross […]

The Nigerian equities market experienced a notable downturn on 26 May 2026, as the All-Share Index shed 1,386.2 points to close at 249,738.8, marking a retreat below the psychologically significant 250,000-point threshold. This decline resulted in a net loss of approximately N810 billion from market capitalization, which eased to N160.09 trillion from N160.9 trillion following […]

The Federal High Court in Abuja has scheduled July 6, 2026, for judgment in the forfeiture suit filed by the Economic and Financial Crimes Commission (EFCC) against 57 properties linked to former Attorney-General of the Federation, Abubakar Malami. Justice Joyce Abdulmalik fixed the date after counsel to the EFCC, Jibrin Okutepa, SAN, and lawyers representing […]

The African Development Bank (AfDB) has revealed that African nations could achieve annual savings of up to $299 billion by enhancing the efficiency of public investment. This finding, detailed in the 2026 African Economic Outlook (AEO) report released during the Bank’s Annual Meetings in Brazzaville, also underscores the potential to unlock trillions of dollars in […]

The Green Finance Investment Facility (GFiF), a blended finance platform designed to mobilize large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria, has officially launched. Led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL, the facility aims to raise […]

As companies listed on the Nigerian Exchange (NGX) prepare for their May 2026 dividend payments, shareholders are advised to note the registrars handling these distributions. Seplat Energy Plc, Okomu Oil Palm Plc, Stanbic IBTC Holdings Plc, BUA Cement Plc, MTN Nigeria Communications Plc, and Zenith Bank Plc are among the firms set to pay dividends […]

The Joint Admissions and Matriculation Board (JAMB) has officially commenced the process for change of institution and course for candidates who participated in the 2026 Unified Tertiary Matriculation Examination (UTME). This announcement was made by the Board’s spokesperson, Fabian Benjamin, in a statement shared via his X account on Friday. The development comes ahead of […]

The Central Bank of Nigeria (CBN) has officially unveiled the 4th Edition of its Foreign Exchange (FX) Manual, a strategic move designed to bolster transparency, liquidity, and overall confidence within the nation’s foreign exchange market. This latest edition, presented in Abuja by CBN Governor Mr. Olayemi Cardoso, is scheduled to take effect on June 1, […]

Seplat Energy Plc has officially confirmed the exchange rate applied to its full-year 2025 final and special dividends, both denominated in US dollars. In a disclosure to the Nigerian Exchange, the company stated it will use the Central Bank of Nigeria exchange rate of N1,370.89 per dollar, as of 14 May 2026, for all dividend […]

In a significant escalation of rhetoric, former U.S. President Donald Trump issued a stark warning to Iran ahead of critical diplomatic talks. Via a post on his Truth Social platform on Sunday, April 19, Trump threatened to destroy Iranian infrastructure, including power plants and bridges, should negotiations scheduled for Monday, April 20, fail to yield […]

Since his inauguration in 2023, President Bola Ahmed Tinubu has enacted one of Nigeria’s most significant economic reform agendas in recent times. This has included the removal of the longstanding fuel subsidy and the unification of the foreign exchange market, marking a decisive shift toward market-led policy. Beyond these high-profile measures, a strategic and notable […]

The Federal Government has issued a formal rebuttal to allegations of concealed expenditures within the federation account, claims which arose from interpretations of a recent World Bank publication. The clarification was delivered via an official statement from the Federal Ministry of Finance, signed by the Minister of State for Finance, Taiwo Oyedele. The Ministry asserted […]

In a formal policy intervention, the Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to implement significant tariff reforms aimed at alleviating economic pressures and enhancing energy security. The recommendations, detailed in a review of the 2026 Fiscal Policy Measures, specifically advocate for a reduction of import duties on […]

Champion Breweries PLC has successfully concluded the full redemption of its ₦15.00 billion Commercial Paper Programme, reinforcing its standing as a credible and reliable issuer within Nigeria’s debt capital markets. The Company completed the final tranche with the repayment of its Series 2 ₦10.78 billion issuance upon its maturity on April 1, 2026. This follows […]

While official figures capture Nigeria’s substantial $20 billion remittance inflow and the global flows nearing $905 billion, these statistics present an incomplete picture. A significant portion of remittance activity operates informally, through peer-to-peer networks that bypass traditional financial channels. In corridors like the UK to Nigeria, individuals with complementary currency needs connect directly, settling funds […]

In a strategic advancement for Nigeria’s electric vehicle ecosystem, clean technology firm Qoray has commissioned a new public charging station at the Federal Palace Hotel & Casino on Victoria Island, Lagos. This deployment marks a critical step in densifying the city’s EV infrastructure, offering a practical solution for drivers in one of its busiest commercial […]

International Breweries Plc has announced a significant return to profitability, posting a pre-tax profit of N88.9 billion in its audited 2025 financial results. This figure, filed with the Nigerian Exchange, slightly exceeds the earlier unaudited report of N85.1 billion and represents a dramatic reversal from the prior year’s pre-tax loss of N111.8 billion. The robust […]

The Independent National Electoral Commission (INEC) has formally deferred its planned nationwide voter revalidation exercise. The Commission confirmed the postponement in an official statement released on Friday, April 10, 2026, following a consultative meeting with its Resident Electoral Commissioners (RECs). The critical exercise, now scheduled to occur after the 2027 general elections, is intended to […]

The OPEC+ alliance has agreed in principle to implement a modest production increase of 206,000 barrels per day (bpd) for May 2026, according to sources cited by Reuters. This decision, reached ahead of the group’s formal meeting, extends the same incremental output adjustment approved for the previous month. However, analysts suggest the real-world impact of […]

For investors seeking a stable income stream within the Nigerian financial landscape, Federal Government of Nigeria Bonds represent a cornerstone of security. These instruments, issued by the government and considered the safest naira-denominated assets, dominate the domestic bond market. By purchasing an FGN bond, you effectively become a lender to the government. In return, the […]

The Nigerian Air Force has officially announced the commencement date for training of successful applicants to its Direct Short Service Commission (DSSC) Course 34/2025. In a formal statement released by Air Commodore Ehimen Ejodame, Director of Public Relations and Information, the service confirmed that training will begin on April 18, 2026. This development follows the […]

The Nigerian cinema industry has commenced 2026 with remarkable vigor, posting its highest first-quarter admissions in six years. Official data released on April 5, 2026, reveals that total ticket sales for Q1 2026 reached 752,136, signaling a robust and sustained recovery in theatrical demand and underscoring the growing dominance of Nollywood productions on home soil. […]

In a decisive move to address a critical financial bottleneck, President Bola Tinubu has sanctioned a N3.3 trillion payment plan to resolve legacy debts within Nigeria’s power sector. The approval, formalized under the Presidential Power Sector Financial Reforms Programme, was officially communicated by the President’s spokesperson, Bayo Onanuga, this Sunday. This intervention concludes an extensive […]

The Joint Admissions and Matriculation Board (JAMB) has officially released the results of its 2026 Unified Tertiary Matriculation Examination (UTME) mock test. The trial examination, held on March 28, 2026, was intended as a critical systems check ahead of the main UTME scheduled for April 16-25, 2026. According to the Board, a total of 224,597 […]

The National Drug Law Enforcement Agency (NDLEA) in Edo State has announced a significant operational milestone, arresting 104 suspected traffickers and seizing illicit substances valued at over N1.8 billion. State Commander Dr. Mitchell Ofoyeju presented the first-quarter 2026 scorecard in Benin, detailing the outcomes of intelligence-led operations conducted between January and March. The command’s intensified […]

Guaranty Trust Holding Company Plc (GTCO) has released its audited financial results for the year ended December 31, 2025, presenting a mixed performance characterized by robust top-line growth but moderated bottom-line figures. The financial conglomerate reported a profit after tax of N865.75 billion, marking a 14.94% decline from the preceding year’s record N1 trillion. The […]

NigComSat Announces Monumental Revenue Growth, Outlines Satellite Expansion The Nigerian Communications Satellite Limited (NigComSat) has reported a dramatic surge in its financial performance, with revenue escalating from $650 million in 2023 to over $2 billion by the close of 2025. The agency’s Chief Executive Officer, Nkechi Jane Egerton-Idehen, made this announcement during her keynote address […]

In a significant development within Nigeria’s federal executive cabinet, the Honourable Minister of Power, Adebayo Adelabu, has formally resigned from his position. The resignation was confirmed through an official letter signed by the minister and addressed to the President. In his correspondence, Adelabu expressed profound gratitude to the President for the opportunity to serve the […]

The Federal Government of Nigeria has officially inaugurated a transformative educational initiative, the Entrepreneurship, Innovation and Business Incubation Certification (EIBIC) programme. The launch event, held at the TETFund Auditorium in Abuja, marks a strategic phase-one rollout across 14 universities nationwide, aiming to fundamentally reshape the academic experience. Under the theme “Driving Entrepreneurship and Innovation and […]

The global landscape of digital finance has reached a pivotal milestone, with registered mobile money accounts surging to 2.3 billion as of 2025. This data, central to the GSMA’s latest State of the Industry Report on Mobile Money, underscores the transformative role of digital wallets in driving financial inclusion and powering economic activity worldwide. These […]

A recent investment report projects that Nigerian Eurobonds are positioned to deliver double-digit returns to investors by the year 2026. The analysis, titled “Global Shocks and Market Opportunities: How to Invest in 2026,” was published by VNL Capital Asset Management and points to several strengthening macroeconomic fundamentals within Nigeria. The report identifies the nation’s improving […]

The Nigeria Deposit Insurance Corporation (NDIC) has moved to reinforce public confidence in the nation’s financial safety net, clarifying that it does not depend on government bailouts to protect depositors. This assurance comes amidst broader national discussions on economic resilience, such as the recent Consolidated Hallmark reports N9.7 Billion financial results and the fiscal strategies […]

The Nigerian Naira is demonstrating a notable recovery against the British Pound Sterling, trading at N1,837/£. This appreciation marks a significant shift from earlier volatility and reflects growing market confidence following a series of strategic reforms by the Central Bank of Nigeria (CBN). Market analysis indicates a crucial psychological breakthrough for the Naira as it […]

Nigeria’s fixed-income market experienced a significant contraction over a two-day period, with the total capitalization on the FMDQ Securities Exchange declining by N720 billion. This shift underscores a period of active repricing as investors navigate changing monetary conditions and declining yields in key short-term instruments. Market data indicates the total valuation fell from N104.68 trillion […]

In response to escalating global oil market disruptions, the International Energy Agency (IEA) has issued a stark advisory, suggesting that reducing air travel could be a necessary measure to curb jet fuel demand. The agency framed this recommendation within a broader set of ten actionable options for both citizens and policymakers to mitigate the impacts […]

The Federal Government of Nigeria has intensified high-level negotiations concerning a proposed $20 billion transcontinental gas pipeline. This ambitious infrastructure project is designed to transport the nation’s substantial natural gas reserves to European markets, marking a significant step in international energy collaboration. In an official statement released on Friday, Louis Ibah, spokesperson for the Minister […]

In a significant policy shift aimed at calming volatile global energy markets, the United States Department of the Treasury has issued a general license authorizing the sale of Iranian oil and petrochemical products. This temporary measure, reported by Bloomberg, is a direct response to the surge in crude prices driven by escalating geopolitical conflicts and […]

A federal jury in the United States has delivered a significant verdict, finding billionaire entrepreneur Elon Musk liable for investor losses tied to his public statements during the contentious acquisition of Twitter, now known as X. The ruling underscores the legal responsibilities of corporate leaders in their public communications. The decision, reached in the U.S. […]

BUA Cement Plc has sustained a significant share price appreciation into 2026, driving its market valuation upward as investors demonstrate confidence in the firm’s growth trajectory. The stock, which concluded 2025 at N178.50, has advanced to N270, marking a year-to-date gain of 51.3%. This rally extends a robust performance from the prior year, where the […]