Business
Bonny Light hits $115 a barrel as Hormuz attacks mount
LAGOS, Nigeria — Nigerian Bonny Light crude last traded at $115 a barrel on October 24, 2026, while West Texas Intermediate settled at $103 a barrel, as supply…
Faesol Ogungbayi
I write.
Business
Shoprite plans standalone stores away from malls
Shoprite Nigeria plans to open standalone neighbourhood stores as it works to revive its retail operations, moving away from its long reliance on large shopping malls. The company…
News
Fadeyi collapse: one dead, others feared trapped
LAGOS, Nigeria — One person has been confirmed dead and three adult males have been rescued after a two-storey building under construction collapsed in the Fadeyi area of…
Breaking
Nollywood actor Francis Duru dies at 57
Veteran Nollywood actor Francis Duru has died at the age of 57 after a brief illness, his family announced on his official Instagram page in the early hours…
Business
Dangote prepares three daughters to lead $58bn empire
LAGOS, Nigeria — Aliko Dangote is gradually positioning his three daughters for greater leadership roles across his business empire, as the 69-year-old industrialist prepares a succession strategy for…
News
NEC approves 90-day plan to cut food costs, ease cost of living
ABUJA, Nigeria — The National Economic Council (NEC) has endorsed a 90-day economic action plan proposed by the Federal Ministry of Finance to ease the cost of living,…
Business
CBN sells ₦2.63tn OMO bills, ₦629bn above offer
ABUJA, Nigeria — The Central Bank of Nigeria (CBN) sold ₦2.628 trillion in Open Market Operations (OMO) bills at its October 22, 2026 auction, ₦628.52 billion, or 31.43%,…
News
Lagos Blue Line extends to FESTAC by February 2027
LAGOS, Nigeria — The Lagos State Government plans to extend the Lagos Rail Mass Transit (LRMT) Blue Line to FESTAC, Alakija and Trade Fair, with three new stations…
Business
Petrol imports fall 30% as daily demand hits 44.4m litres
LAGOS, Nigeria — Nigeria’s daily petrol imports fell 30.1% to 10.2 million litres in September 2026, even as daily consumption rose to 44.4 million litres, according to the…
Business
CBN offers ₦2 trillion in OMO bills as banks park over ₦6 trillion at deposit window
ABUJA, Nigeria — The Central Bank of Nigeria (CBN) is offering ₦2 trillion in Open Market Operations (OMO) bills on Thursday, October 22, 2026, as banking system liquidity…
Tech and Gadgets
INTERPOL arrests Nigerian suspect over alleged $2.4 million fraud laundered through crypto
LAGOS, Nigeria — The International Criminal Police Organization (INTERPOL) has announced the arrest of a Nigerian suspect linked to an alleged $2.4 million international investment fraud carried out…
Business
Private sector credit falls ₦537.6 billion in September but still up 15.7% a year
ABUJA, Nigeria — Credit to Nigeria’s private sector fell to ₦83.93 trillion in September 2026, down from ₦84.47 trillion in August, according to data released by the Central…
Business
Cash outside banks rises ₦48.7 billion to ₦4.92 trillion in September
ABUJA, Nigeria — Cash held outside Nigeria’s banking system rose by ₦48.7 billion to ₦4.92 trillion in September 2026, according to the latest data from the Central Bank…
Business
Guinness Nigeria nine-month profit jumps 53% to ₦40.69 billion
LAGOS, Nigeria — Guinness Nigeria Plc has posted a 53.1% rise in profit after tax to ₦40.69 billion for the nine months ended September 30, 2026, as revenue…
Business
Oil tops $111 as Iran claims attacks on seven vessels near Hormuz
LAGOS, Nigeria — Global crude oil prices rose above $111 per barrel on Thursday, October 22, 2026, after Iran claimed that seven vessels had been hit in separate…
Business
NGX Fines 15 Companies ₦123.17m for Late Filings
LAGOS, Nigeria — The Nigerian Exchange (NGX) has imposed penalties totalling ₦123.17 million on 15 listed companies for late submission of audited and interim financial statements, reviving concerns…