adminFULL LIST: CBN revokes licences of 46 microfinance banks over breaches
The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks across the country, citing their failure to meet key regulatory requirements for continued operations. The…
Petrol: FCCPC Warns Marketers Against Consumer Exploitation Amid Global Drop In Oil Prices
The Federal Competition and Consumer Protection Commission (FCCPC) Sunday warned operators in the downstream petroleum sector against exploiting consumers following refusal to reflect the sharp decline in global crude…
Oil Prices Crash To $72 Pre-War Level
Oil prices dropped to $72 per barrel on Thursday from about $120 per barrel, their lowest level since the US-Iran conflict began in February. Brent crude futures for August…
Petrol Price Rises By 55% To N1,596/Ltr In May — NBS
The average retail price of Premium Motor Spirit, commonly known as petrol, rose by 55.31% year-on-year to N1,596.25 per litre in May 2026, from N1,027.76 recorded in May 2025.…
FG Orders Marketers To Increase Cooking Gas Imports
The Federal Government said it has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify engagement with gas producers, marketers, and other stakeholders to boost importation…
Oil price drops to $82/barrel after US, Israel, Iran agree to end war
Global crude oil price dropped to $82 a barrel on Monday as the United States, Israel, and Iran reached a deal to end the Middle East war on all…
Nigeria Misses OPEC Production Quota Again
Nigeria has again failed to meet its 1.5 million bpd crude oil production quota approved by the Organization of the Petroleum Exporting Countries (OPEC). In its National Liquid Hydrocarbon…
Dangote Refinery Raises Petrol Price To ₦1,350/Litre — Report
Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (petrol) to ₦1,350 per litre, up from ₦1,275. The new increase marks a fresh upward adjustment in Nigeria’s…
Telcos defend N6.98 USSD charge despite failed transactions
Telecommunications operators under the aegis of the Association of Licensed Telecommunications Operators of Nigeria, ALTON, have defended the N6.98 Unstructured Supplementary Service Data, USSD, fee charged on banking transactions,…
UAE announces exit from OPEC
The United Arab Emirates (UAE) says it is quitting the Organization of the Petroleum Exporting Countries (OPEC) after nearly 60 years of membership. The Middle East nation is also…
Tinubu approves 30% debt waiver for airlines
President Bola Ahmed Tinubu has approved a 30 per cent discount on outstanding statutory fees owed by domestic airlines to aviation agencies. The gesture is aimed at alleviating operational…
CBN increases ATM card issuance fee to N1,500, scraps maintenance charge
The Central Bank of Nigeria (CBN) has increased the fee for the issuance or replacement of debit and credit cards from N1,000 to N1,500. The upward adjustment is part…
Airline operators suspend planned shutdown
Airline operators in Nigeria have suspended their planned nationwide shutdown. The suspension brings relief to thousands of passengers who would have faced travel disruptions from Monday. However, the operators…
Like MTN, Airtel also halts airtime, data borrowing services
Airtel Nigeria has announced the temporary suspension of its airtime and data credit services, which previously allowed eligible prepaid customers to borrow airtime or data and repay on their…
MTN suspends airtime, data loans
MTN Nigeria has suspended its airtime and data advance service known as Xtratime following new regulatory requirements introduced by the Federal Competition and Consumer Protection Commission. The telecom operator…
