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Nigerians owe N2.06 trillion in personal loans as borrowing to survive overtakes borrowing to invest

Personal loans held by Nigerians rose to about N2.06 trillion in May 2026, CBN data shows, as households increasingly borrow to cope with rising living costs.
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NYSC kidnap: Ransom drops from N1 billion to N100 million as police say camp is mined with IEDs

Kidnappers holding 20 prospective corps members in Imo State have cut their ransom from N50 million to N5 million each as parents report the captives are being beaten.

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Business

Paystack Expands into Banking as Shola Akinlade Targets Nigeria’s $32bn Small Business Funding Gap

KEY POINTS Paystack has acquired and rebranded a microfinance bank to expand into lending...
Business

Otedola Hosts Rabiu, Business Leaders at Private Dubai Dinner

KEY POINTS Femi Otedola hosted Abdul Samad Rabiu and friends at a private dinner...
Business

Nigeria Cuts Petrol Imports as Local Refining Rises in December

KEY POINTS Petrol imports fell by 19 percent in December, while local refinery supply...
Business

Tony Elumelu Urges CEOs to Lead With Trust, Not Titles

Tony Elumelu says modern leadership is built on trust, accessibility and execution, not hierarchy, as his businesses post landmark banking and energy deals.
Business

Dangote Cement Rewards Top Distributors With ₦15 Billion Gifts

Dangote Cement celebrated its top distributors with ₦15bn in rewards at the 2026 Awards Night, recognising loyalty and highlighting the company’s Vision 2030 growth strategy.
Business

Paystack Enters Banking With Microfinance Acquisition

Nigerian fintech Paystack has entered banking after acquiring Ladder Microfinance Bank, aiming to close Nigeria’s SME financing gap and expand beyond payments into lending and deposits.
Business

Yari Takes Control of Geregu Power as FG Settle Sector’s Debts

Abdul-Aziz Yari has emerged as chairman and controlling shareholder of Geregu Power Plc, positioning the company for growth as the Federal Government begins settling long-standing power sector debts.
Business

Nigeria Inflation Eases to 15.15% in December as NBS Revises Methodology

KEY POINTS Nigeria headline inflation slowed to 15.15 percent in December 2025, reflecting a...
Business

Rabiu Pays $500,000 Bonus to Super Eagles Despite Loss

Abdul Samad Rabiu has paid a $500,000 Super Eagles cash gift despite Nigeria’s loss, praising the team’s effort, unity and impact on national morale.
Business

Nigerian Billionaires Lose Out as TotalEnergies Sells Oil Stake

TotalEnergies has agreed to sell its Nigerian oil stake to VAARIS Resources, ending a long divestment process that sidelined several billionaire-backed bidders.
Business

Jim Ovia’s $5 Million Bet Built Nigeria’s Zenith Bank Giant

Jim Ovia’s $5 million bet in 1990 built Zenith Bank into Nigeria’s most profitable lender, with over $3.3 billion in shareholders’ funds today.
Business

Nigeria, UAE Sign Landmark Trade Pact, Open Duty Free Access for Thousands of Products

KEY POINTS Nigeria and the UAE signed a Comprehensive Economic Partnership Agreement to deepen...
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Nigerians owe N2.06 trillion in personal loans as borrowing to survive overtakes borrowing to invest

Personal loans held by Nigerians rose to about N2.06 trillion in May 2026, CBN data shows, as households increasingly borrow to cope with rising living costs.
News

NYSC kidnap: Ransom drops from N1 billion to N100 million as police say camp is mined with IEDs

Kidnappers holding 20 prospective corps members in Imo State have cut their ransom from N50 million to N5 million each as parents report the captives are being beaten.
News

Suspected Boko Haram terrorists kill 15 farmers gathering firewood in Borno’s Marte area, three still missing

Suspected Boko Haram terrorists have killed 15 farmers working their fields and gathering firewood in Marte, Borno State, with police searching for three still missing.
News

N50 million each: Families of 19 abducted NYSC graduates face N950 million ransom demand

Kidnappers are demanding N950 million, or N50 million each, for 19 prospective corps members abducted on the Owerri-Onitsha Road in Imo State on Thursday.