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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

GTCO’s Agbaje built a bank he barely owns

Guaranty Trust Holding Company posted profit before tax of N1.23 trillion and declared its most generous dividend since listing for 2025, giving CEO Segun Agbaje a N410 million gross payout.
Business

Sterling Bank summit targets Nigeria’s transport logistics gap

Sterling Bank CEO Abubakar Suleiman said fixing Nigeria's transport logistics sector requires bold, coordinated execution, not incremental change, at the inaugural NTLS 2026 summit.
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Investigation links late Access Bank CEO to 106 London properties

A new investigation into offshore property ownership in London has linked late Access Bank CEO Herbert Wigwe to 106 properties in the British capital held through shell companies.
Business

Lulu-Briggs foundation treats thousands in Rivers

Lulu-Briggs foundation treated over 5,000 people and performed 149 surgeries in Rivers, expanding access to free healthcare in underserved communities.
Business

New loan scheme targets micro businesses

A ₦100 million loan scheme has been launched to support Nigerian micro-entrepreneurs, focusing on women and informal sector businesses.
Business

Nigeria capital importation jumps in 2025

Nigeria capital importation surged in 2025, rising sharply on the back of portfolio investments and increased inflows into the banking sector.
Business

Moniepoint acquires Orda to push into Africa’s food service market

Tosin Eniolorunda's Moniepoint has acquired Orda Africa, embedding cloud-based restaurant management software into its platform to serve Africa's largely offline and underpenetrated food service sector.
Business

Tony Elumelu Foundation deploys $16m to 3,200 entrepreneurs

The Tony Elumelu Foundation has committed $16 million in seed capital to 3,200 African entrepreneurs in its 2026 cohort, adding AI and climate resilience training to the programme for the first time.
Business

The Economist questions whether Dangote’s empire truly innovates

The Economist has questioned whether Dangote's industrial empire truly innovates, noting that most technical and managerial work across his flagship operations relies on foreign expertise.
Business

Naira Strengthens to Highest Level Since February

KEY POINTS The naira appreciated to N1,355/$, its strongest level since February 2026. Rising...
Business

Dangote refinery supplies 92 percent of Nigeria’s petrol in February

Dangote Refinery covered 92 percent of Nigeria's petrol demand in February 2026, with imports accounting for just 8 percent of total daily supply for the first time on record.
Business

Nigeria textile exports crash 55 percent as imports hit N1.06trn

Nigeria's textile exports dropped 55.25 percent to N16.55 billion in 2025 as imports climbed 46 percent to N1.06 trillion, widening an already severe trade imbalance in the sector.
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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.
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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.