Business

CBN Implements New Transaction Limits for POS Operators in Major Banking Reform The Central Bank of Nigeria (CBN) has introduced comprehensive new guidelines for Point of Sale (POS) operations, setting daily transaction limits and strengthening regulatory oversight of agent banking […]

Nigerian Oil Regulator Approves $40 Billion Worth of Field Development Projects Nigeria’s oil and gas sector is poised for significant growth as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reveals approval of 79 Field Development Plans spanning 2024-2025, representing potential

OPEC Supply Increase Sends Ripples Through Global Oil Markets Global oil prices continued their downward trajectory for the fourth consecutive day, with Brent crude falling to its lowest level since early June, as markets react to potential supply increases from

Darjeeling Tea Industry Faces Severe Setback After Unprecedented Rainfall India’s prestigious Darjeeling tea industry has suffered a significant blow following devastating floods and landslides that destroyed approximately 5% of its renowned tea gardens. The disaster, which struck in early October

Nigerian Stock Market Maintains Strong Performance with 40% Year-to-Date Returns The Nigerian equity market continues its impressive run in 2023, delivering a cumulative return of nearly 40% after adding another 1% gain last week, driven primarily by strong performance in

Cooking Gas Prices Show Significant Drop Across Nigeria in August 2025 Nigeria’s cooking gas (LPG) market experienced a substantial price reduction in August 2025, according to the latest National Bureau of Statistics (NBS) report, offering welcome relief to consumers amid

Renewable Energy Surpasses Coal in Historic Shift, but Growth Faces Policy Headwinds In a landmark development for clean energy, solar and wind power generation has exceeded coal-based electricity production for the first time in history, though policy changes in major

Oil Workers’ Strike Costs Nigeria N57.4 Billion in Three Days Nigeria suffered significant production losses during a recent nationwide oil workers’ strike, with daily crude oil output dropping by more than 200,000 barrels, according to senior officials. The industrial action

Energy Pioneer Wale Tinubu Receives Prestigious African Energy Week Lifetime Achievement Award Oando Plc’s Group Chief Executive, Wale Tinubu, has been honored with the distinguished Lifetime Achievement Award at African Energy Week (AEW) 2025, celebrating his remarkable journey in transforming

CBN Introduces Strict Penalties in New Agent Banking Guidelines with N5 Million Base Fine The Central Bank of Nigeria (CBN) has unveiled comprehensive revisions to its Agent Banking Guidelines, introducing hefty penalties for violations as part of efforts to strengthen