Breaking News Archives - Nairametrics

NDPC fines Multichoice Nigeria N766.2 million for violating NDP Act

Samson Akintaro — Sun, 06 Jul 2025 17:39:49 +0000

The Nigeria Data Protection Commission (NDPC) has fined Multichoice Nigeria the sum of N766.2 million for violating the Nigeria Data Protection Act (NDP Act). The Commission disclosed in a statement signed by its Head of Legal, Enforcement & Regulations, Babatunde Bamigboye, which was released on Sunday. According to the Commission, the investigation of Multichoice, which […]

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Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide

Nnaemeka Onyekachi — Fri, 04 Jul 2025 13:11:31 +0000

The Federal High Court in Abuja on Friday affirmed the legality of the Nigeria Inter-Bank Settlement System Plc’s (NIBSS) management of the Bank Verification Number (BVN) database across Nigeria, in line with the Central Bank of Nigeria (CBN) Act and other relevant banking laws.

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Court fines Senator Natasha Akpoti N5m for satirical post against Godswill Akpabio, directs her recall

Nnaemeka Onyekachi — Fri, 04 Jul 2025 11:39:16 +0000

The Federal High Court in Abuja has fined Senator Natasha Akpoti-Uduaghan N5 million for contempt (due to a satirical post) against Senate President Godswill Akpabio, while also directing her recall from suspension.

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Afreximbank shareholders appoint Cameroonian George Elombi as next President in Abuja

Nnaemeka Onyekachi — Sat, 28 Jun 2025 13:55:01 +0000

The shareholders of the African Export-Import Bank (Afreximbank) have appointed a Cameroonian, Dr. George Elombi, as the next President and Chairman of the Board of Directors of the continental financial institution.

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Nigeria’s public debt hits N149.39 trillion in Q1 2025 – DMO

Tobi Tunji — Sat, 28 Jun 2025 12:00:45 +0000

Nigeria’s total public debt rose to N149.39 trillion as of March 31, 2025, marking a year-on-year increase of N27.72 trillion or 22.8% when compared to the N121.67 trillion recorded in the corresponding period of 2024.

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FCCPC to arraign MultiChoice CEO, Pay TV Directors for allegedly Impeding Investigation

Nnaemeka Onyekachi — Tue, 24 Jun 2025 13:50:28 +0000

The Federal Competition and Consumer Protection Commission (FCCPC) will arraign MultiChoice Nigeria Limited, its CEO John Ugbe, and some of the Pay TV directors for allegedly impeding its investigation and failing to comply with its lawful summons regarding its services.

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Sierra Leone President Julius Maada Bio succeeds Tinubu as ECOWAS Chairman

Samson Akintaro — Sun, 22 Jun 2025 17:47:41 +0000

The President of Sierra Leone, Julius Maada Bio, has emerged as the new Chairman of the ECOWAS Authority of Heads of State and Government.

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NNPCL Chief Corporate Communications Officer, Femi Soneye resigns

Nnaemeka Onyekachi — Sat, 21 Jun 2025 13:47:59 +0000

The Chief Corporate Communications Officer of the Nigerian National Petroleum Company Ltd (NNPCL), Femi Soneye, has resigned from his role.

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Wilmar buys out PZ Cussons in $70M deal to fully own PZ Wilmar

Nnaemeka Onyekachi — Wed, 18 Jun 2025 08:29:57 +0000

PZ Cussons PLC and Wilmar International Limited (“Wilmar”) on Wednesday jointly announced that the two parties have agreed on definitive terms for Wilmar to purchase the 50% equity stake in PZ Wilmar Limited (“PZ Wilmar”) held by PZ Cussons plc, for cash consideration of $70 million.

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Nigeria’s inflation rate eases to 22.97% in May 2025

Olalekan Adigun — Mon, 16 Jun 2025 14:31:16 +0000

Nigeria’s headline inflation rate dropped to 22.97% in May 2025, marking the second consecutive month of decline, according to new data released by the National Bureau of Statistics (NBS).

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Court rejects Ex-JAMB Registrar, Prof. Ojerinde’s no-case submission in N5.2bn Fraud case

Nnaemeka Onyekachi — Tue, 10 Jun 2025 16:37:44 +0000

A Federal High Court, sitting in Abuja, on Tuesday rejected the no-case submission filed by the former Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Lawrence Adedibu Ojerinde, against N5.2 billion fraud charges brought against him by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

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Court remands Afriq Arbitrage CEO Jesam Michael over $854K, N590 million fraud charges

Nnaemeka Onyekachi — Tue, 10 Jun 2025 10:12:45 +0000

The Federal High Court in Abuja has remanded the CEO of a cryptocurrency trading platform Afriq Arbitrage System (AAS), Jesam Michael, at the Correctional Centre over an alleged investment fraud case involving $844,416.36, $10,000, and N590 million, instituted by the Economic and Financial Crimes Commission (EFCC).

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Ex-Mauritania’s minister Dr. Sidi Ould Tah elected AfDB president to succeed Akinwumi Adesina

Israel Ojoko — Thu, 29 May 2025 15:11:45 +0000

Former Mauritania’s Minister of Economy and Finance, Dr. Sidi Ould Tah, has been elected as the 9th President of the African Development Bank (AfDB) Group, succeeding Akinwumi Adesina, who has led the institution for two terms since 2015.

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Heirs Holdings buys 45 million units of UBA shares worth N1.54 billion

Izuchukwu Okoye — Thu, 29 May 2025 13:02:28 +0000

Heirs Holdings Limited, the investment company chaired by billionaire Tony Elumelu, has increased its stake in United Bank for Africa Plc (UBA) with the purchase of 45,034,044 shares valued at approximately N1.54 billion.

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Appeal Court affirms Edo Governor Monday Okpebholo’s election, dismisses PDP, Ighodalo’s case

Nnaemeka Onyekachi — Thu, 29 May 2025 11:56:50 +0000

The Court of Appeal sitting in Abuja on Thursday affirms the election victory of Edo State governor, Senator Monday Okpebholo, following the September 21, 2024, governorship election in Edo State.

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FG’s Series VI Sukuk offer oversubscribed by 735%, attracts record N2.205 trillion subscription

Olalekan Adigun — Wed, 28 May 2025 14:22:50 +0000

The Debt Management Office (DMO) has announced that the Federal Government has successfully recorded a total of N2.205 trillion subscriptions through the Sovereign Sukuk since its debut in 2017, representing an oversubscription of 735%.

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Airtel tops daily advancers as ASI attains N70 trillion cap, shatters 110,000-barrier

Izuchukwu Okoye — Tue, 27 May 2025 18:22:35 +0000

The Nigerian All-Share Index (ASI) surged by 1,721.29 points on the trading day that ended 27th May 2025, finally breaking through the long-anticipated 110,000 level.

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FCTA shuts down FIRS office in Abuja over non-payment of ground rent

Olalekan Adigun — Mon, 26 May 2025 11:15:26 +0000

The Federal Capital Territory Administration (FCTA) has sealed off a key office of the Federal Inland Revenue Service (FIRS) in Abuja over alleged non-payment of ground rent on Monday.

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Foreign portfolio inflows to stock market tumble by 92.39% in April amid global uncertainty

Tobi Tunji — Mon, 26 May 2025 08:04:07 +0000

Foreign portfolio investment into Nigeria’s equities market fell sharply by 92.39% in April 2025, as inflows dropped to N26.64 billion, compared to N349.97 billion recorded in March.

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Why I invested N320bn in First Bank – Otedola credits Tinubu, Cardoso reforms

Chike Olisah — Thu, 22 May 2025 10:17:48 +0000

Chairman of First Holdco Plc, Femi Otedola, has credited President Bola Tinubu’s economic reforms and the Central Bank of Nigeria’s policy credibility under Governor Yemi Cardoso as the key reasons behind his N320 billion personal investment in First Bank.

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