FG bans 17 items across sectors to protect domestic industries
• Wale Edun, Minister of Finance The Federal Government in its revised import prohibition list,…
FG bans 17 items across sectors to protect domestic industries
• Wale Edun, Minister of Finance The Federal Government in its revised import prohibition list, dated April 1, 2026, banned seventeen traded products for the protection of domestic industries and managing foreign exchange. The items categorised by the Federal Ministry of Finance carries significant implications for importers, clearing agents, and the general public, as it…
FG Mandates ARCON to enforce 45‑day advertising payments rule
Photo: ARCON Director -General, Dr. Olalekan Fadolapo The Federal Government has directed the Advertising Regulatory Council of Nigeria (ARCON) to esure that payment for advertising services must be made within 45 days, in line with global best practices and the Advertising Industry Standards of Practice (AISOP). In a statement by Dr. Olalekan Fadolapo, Director-General of…
MAN Faults World Bank’s Call To reinstate petroleum imports licenses
Image: Dangote Petroleum Refinery, Lagos . The Manufacturers Association of Nigeria (MAN) urged the Federal Government and the petroleum industry regulators to disregard the recent prescription by the World Bank that Nigeria should open its borders to imported Premium Motor Spirit (PMS) to solve inflationary crisis. In a position document on Friday April 17, titled…
FCCPC denies banning MTN Glo Airtel Xtratime data service
The Federal Competition and Consumer Protection Commission (FCCPC) has clarified that it didn’t banned MTN, Glo, Airtel including Vitel Wireless from offering airtime borrowing and data advance services in Nigeria. The Commission in a statement on Friday, clarified that the DEON Consumer Lending Regulations it introduced in July 2025, was aimed at curbing “the excesses…
CBN launches NOFR to deepen money market
The Central Bank of Nigeria on Friday announced the introduction of the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market, aimed at improving transparency and strengthening monetary policy transmission. The disclosure was contained in a press statement issued by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali. According…
MTN Suspends Borrow Me Data, Xtratime Service
MTN Nigeria Communications Plc on Thursday notifies the Nigerian Exchange Group (NGX) and the investing public that the Company has temporarily suspended its airtime and data credit advance service, Xtratime. Xtratime allows subscribers to borrow airtime or data and repay on their next recharge, a service widely used by millions of Nigerians, particularly during periods…
Dangote Sugar Records N46.7bn FX Losses FY 2025
Dangote Sugar Refinery Plc profitability was weighed down by a foreign exchange loss of N46.7 billion and additional finance costs totaling N128.6 billion in financial year ended 2025. Dangote Sugar Chairman, Arnold Ekpe, told shareholders during the Company’s 20th Annual General Meeting held yesterday in Lagos. Arnold Ekpe said that the Group posted a turnover…
Olam Agri opens $50m soybean crushing plant in Kwara
Olam Agri has opened a $50 million state-of-the-art soybean crushing plant and feed milling facility in Ilorin, Kwara State. Olam Agri also officially launched Mama’s Pride Soya Oil, a well-refined, heart-healthy cooking oil designed to meet the evolving nutritional needs of Nigerian households Anil Nair, country head and managing director, Olam Agri in Nigeria, said…
Lafarge former CEO Bruno Lafont, Other Executives Jailed over Terrorism Financing
A court in Paris , yesterday, found Lafarge, now part of Holcim, guilty of charges that its Syrian subsidiary financed terrorism and breached EU sanctions to keep a cement plant operating in northern Syria during the country’s civil war. Global Cement.com reported that the case was the first time a company has been tried for…
Dangote Refinery Targeting $5bn From IPO
Photo: Aliko Dangote Dangote Petroleum Refinery & Petrochemicals is hoping to raise up to $5 billion from investors across Africa through its initial public offering on the Nigerian Exchange Group (NGX) The share sale is expected to open as early as May, with analysts valuing the company between $40 billion and $50 billion, making it…
