Business Archives - TheCitizen - It's all about you https://thecitizenng.com/category/business/ Nigeria's leading online newspaper Tue, 23 Jun 2026 21:19:04 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.4 https://thecitizenng.com/wp-content/uploads/2017/04/cropped-TheCitizen-330x50-1-32x32.png Business Archives - TheCitizen - It's all about you https://thecitizenng.com/category/business/ 32 32 SEC stops Dangote Refinery IPO promotions, warns investors https://thecitizenng.com/sec-stops-dangote-refinery-ipo-promotions-warns-investors/ https://thecitizenng.com/sec-stops-dangote-refinery-ipo-promotions-warns-investors/#respond Tue, 23 Jun 2026 21:19:04 +0000 https://thecitizenng.com/?p=284676 The Securities and Exchange Commission (SEC) has directed capital market operators to immediately halt all promotional activities relating to a purported initial public offering by Dangote Petroleum Refinery and Petrochemicals FZE, warning that it has neither received nor approved any application for such an offer. The directive was contained in a public notice issued by […]

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]]> https://thecitizenng.com/sec-stops-dangote-refinery-ipo-promotions-warns-investors/feed/ 0 Sahara Group advances energy journalism in Africa with $5000 Fellowship https://thecitizenng.com/sahara-group-advances-energy-journalism-in-africa-with-5000-fellowship/ https://thecitizenng.com/sahara-group-advances-energy-journalism-in-africa-with-5000-fellowship/#respond Tue, 23 Jun 2026 15:30:00 +0000 https://thecitizenng.com/?p=284618 Sahara Group, a leading international energy and infrastructure conglomerate, has unveiled the Asharami Square Energy Reporting Fellowship, committing up to $5,000 in funding, mentorship, and expert-led engagement to elevate energy journalism across Africa. The Fellowship is an extension of Asharami Square, Sahara Group’s flagship thought leadership platform, now in its third edition, focused on sustainability […]

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]]> https://thecitizenng.com/sahara-group-advances-energy-journalism-in-africa-with-5000-fellowship/feed/ 0 US launches $750 fast-track Visa interview service for visitors https://thecitizenng.com/us-launches-750-fast-track-visa-interview-service-for-visitors/ https://thecitizenng.com/us-launches-750-fast-track-visa-interview-service-for-visitors/#respond Mon, 22 Jun 2026 11:58:31 +0000 https://thecitizenng.com/?p=284609 The United States Department of State has introduced a new premium service for applicants seeking B1/B2 visitor visas, allowing travellers to pay an additional $750 for expedited interview appointments. According to a notice published in the Federal Register on June 9, applicants who opt for the premium service will be eligible for visa interview appointments scheduled […]

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]]> https://thecitizenng.com/us-launches-750-fast-track-visa-interview-service-for-visitors/feed/ 0 NCC, CAC mandate pre-approval for all telecom equity transfer above 10% https://thecitizenng.com/ncc-cac-mandate-pre-approval-for-all-telecom-equity-transfer-above-10/ https://thecitizenng.com/ncc-cac-mandate-pre-approval-for-all-telecom-equity-transfer-above-10/#respond Mon, 22 Jun 2026 11:53:04 +0000 https://thecitizenng.com/?p=284606 The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have announced strict new compliance requirements for changes in the ownership structure of licensed communications companies. Effective immediately, any transfer of shares amounting to 10 per cent or more of a licensee’s total share capital will require an official “Letter of No Objection” from […]

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]]> https://thecitizenng.com/ncc-cac-mandate-pre-approval-for-all-telecom-equity-transfer-above-10/feed/ 0 Fraudsters rake in N134bn from banks, customers https://thecitizenng.com/fraudsters-rake-in-n134bn-from-banks-customers/ https://thecitizenng.com/fraudsters-rake-in-n134bn-from-banks-customers/#respond Fri, 19 Jun 2026 13:04:42 +0000 https://thecitizenng.com/?p=284522 Banks and their customers lost a combined N134.48bn to fraud between 2020 and 2025 amid a significant expansion in digital payments and financial technology adoption across the country, according to data contained in the Central Bank of Nigeria (CBN) Nigeria Payments System Vision 2028 document. The document from the apex bank’s website showed that attempted […]

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]]> https://thecitizenng.com/fraudsters-rake-in-n134bn-from-banks-customers/feed/ 0 FG rules out fuel, telecom taxes despite IMF recommendation https://thecitizenng.com/fg-rules-out-fuel-telecom-taxes-despite-imf-recommendation/ https://thecitizenng.com/fg-rules-out-fuel-telecom-taxes-despite-imf-recommendation/#respond Wed, 17 Jun 2026 20:31:36 +0000 https://thecitizenng.com/?p=284505 The Federal Government on Wednesday dismissed reports suggesting it had adopted or was considering the introduction of new taxes on telecommunications services and petroleum products following recommendations contained in the latest International Monetary Fund (IMF) Article IV Consultation Report on Nigeria. The government said the reports misrepresented the contents of the IMF report and did […]

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]]> https://thecitizenng.com/fg-rules-out-fuel-telecom-taxes-despite-imf-recommendation/feed/ 0 FG launches hybrid Digital TV platform today https://thecitizenng.com/fg-launches-hybrid-digital-tv-platform-today/ https://thecitizenng.com/fg-launches-hybrid-digital-tv-platform-today/#respond Wed, 17 Jun 2026 07:16:32 +0000 https://thecitizenng.com/?p=284476 The Federal Government will today unveil a new hybrid digital broadcasting platform that will give Nigerians access to 100 free television channels, as part of renewed efforts to complete the country’s long-delayed Digital Switch Over (DSO) programme. The announcement followed a high-level stakeholders’ meeting convened by the National Broadcasting Commission (NBC) in Abuja, bringing together […]

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]]> https://thecitizenng.com/fg-launches-hybrid-digital-tv-platform-today/feed/ 0 Court orders Virgin Atlantic to pay N13m for missed flight https://thecitizenng.com/court-orders-virgin-atlantic-to-pay-n13m-for-missed-flight/ https://thecitizenng.com/court-orders-virgin-atlantic-to-pay-n13m-for-missed-flight/#respond Wed, 17 Jun 2026 06:04:41 +0000 https://thecitizenng.com/?p=284440 A Federal High Court in Lagos has ordered Virgin Atlantic Airways Limited to pay Mrs. Joy Ezetah the sum of $5,906.50 in damages after it failed to allow her board a scheduled Lagos-London flight, an incident that disrupted her onward trip to Canada and caused her financial loss. Justice Ibrahim Kala in the judgement delivered […]

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]]> https://thecitizenng.com/court-orders-virgin-atlantic-to-pay-n13m-for-missed-flight/feed/ 0 States kick as Senate moves to amend Electricity Act https://thecitizenng.com/states-kick-as-senate-moves-to-amend-electricity-act/ https://thecitizenng.com/states-kick-as-senate-moves-to-amend-electricity-act/#respond Wed, 17 Jun 2026 05:25:14 +0000 https://thecitizenng.com/?p=284435 A fresh battle over the control of Nigeria’s electricity sector is brewing, as state electricity regulators have accused the National Assembly of attempting to claw back powers already devolved to states under the Constitution and the Electricity Act 2023. In a strongly worded memorandum submitted to the Senate Committee on Power and obtained by our […]

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]]> https://thecitizenng.com/states-kick-as-senate-moves-to-amend-electricity-act/feed/ 0 Dangote Refinery slashes petrol gantry price by N75/litre https://thecitizenng.com/dangote-refinery-slashes-petrol-gantry-price-by-n75-litre/ https://thecitizenng.com/dangote-refinery-slashes-petrol-gantry-price-by-n75-litre/#respond Tue, 16 Jun 2026 08:08:41 +0000 https://thecitizenng.com/?p=284396 Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (Petrol) by N75 per litre. In a circular to fuel marketers on Monday, the refinery said the adjustment followed the de-escalation of the tension in the Middle East, which had impacted energy prices in the past three months. “Following the de-escalation of tensions […]

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]]> https://thecitizenng.com/dangote-refinery-slashes-petrol-gantry-price-by-n75-litre/feed/ 0 Nigeria’s Inflation rate climbs to 15.93% in May https://thecitizenng.com/nigerias-inflation-rate-climbs-to-15-93-in-may/ https://thecitizenng.com/nigerias-inflation-rate-climbs-to-15-93-in-may/#respond Mon, 15 Jun 2026 19:09:23 +0000 https://thecitizenng.com/?p=284360 Nigeria’s headline inflation rate rose to 15.93 per cent in May 2026, marking a slight increase from the 15.69 per cent recorded in April, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday. The report showed that the inflation rate increased by 0.24 percentage points […]

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]]> https://thecitizenng.com/nigerias-inflation-rate-climbs-to-15-93-in-may/feed/ 0 Dangote unveils plans for largest free trade zone in Ondo https://thecitizenng.com/dangote-unveils-plans-for-largest-free-trade-zone-in-ondo/ https://thecitizenng.com/dangote-unveils-plans-for-largest-free-trade-zone-in-ondo/#respond Mon, 15 Jun 2026 19:01:36 +0000 https://thecitizenng.com/?p=284357 The President of Dangote Group, Alhaji Aliko Dangote, has disclosed plans to develop a large-scale industrial and free trade zone at Olokola in Ondo State. According to Dangote, the proposed Olokola project would go beyond a conventional free trade zone, emphasising that the move as a power-driven investment hub will be designed to attract manufacturers. Dangote, […]

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]]> https://thecitizenng.com/dangote-unveils-plans-for-largest-free-trade-zone-in-ondo/feed/ 0 CBN unveils new benchmark rate https://thecitizenng.com/cbn-unveils-new-benchmark-rate/ https://thecitizenng.com/cbn-unveils-new-benchmark-rate/#respond Mon, 15 Jun 2026 16:11:24 +0000 https://thecitizenng.com/?p=284326 The Central Bank of Nigeria (CBN) on Monday launched the Nigerian Overnight Financing Rate, a new transaction-based benchmark interest rate designed to strengthen transparency, improve monetary policy transmission and deepen the country’s financial markets. Speaking at the launch of the benchmark at the CBN headquarters in Abuja, the Governor of the Central Bank of Nigeria, […]

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]]> https://thecitizenng.com/cbn-unveils-new-benchmark-rate/feed/ 0 UBA clinches African technology award for digital banking excellence https://thecitizenng.com/uba-clinches-african-technology-award-for-digital-banking-excellence/ https://thecitizenng.com/uba-clinches-african-technology-award-for-digital-banking-excellence/#respond Wed, 10 Jun 2026 23:33:51 +0000 https://thecitizenng.com/?p=284186 United Bank for Africa (UBA) has won the African category of the 2026 Banker Technology Awards for its use of technology, digital payments, and artificial intelligence to improve banking services across Africa. The award recognises UBA’s efforts in making cross-border transactions easier through its AI-powered chatbot, Leo, which is integrated with the Pan-African Payment and […]

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]]> https://thecitizenng.com/uba-clinches-african-technology-award-for-digital-banking-excellence/feed/ 0 NCAA grounds aircraft after landing on Delta road https://thecitizenng.com/ncaa-grounds-aircraft-after-landing-on-delta-road/ https://thecitizenng.com/ncaa-grounds-aircraft-after-landing-on-delta-road/#respond Wed, 10 Jun 2026 15:44:04 +0000 https://thecitizenng.com/?p=284165 The Nigeria Civil Aviation Authority (NCAA), Wednesday, grounded an aircraft that landed on a roadway in the Ogwashi-Uku area near Asaba, the Delta State capital. NCAA stated that the private jet, which had four crew members on board, subsequently departed the location at approximately 11:02 am and returned to Lagos without obtaining the requisite regulatory […]

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]]> https://thecitizenng.com/ncaa-grounds-aircraft-after-landing-on-delta-road/feed/ 0 FG fixes June 12 deadline for oil block bids https://thecitizenng.com/fg-fixes-june-12-deadline-for-oil-block-bids/ https://thecitizenng.com/fg-fixes-june-12-deadline-for-oil-block-bids/#respond Wed, 10 Jun 2026 08:47:00 +0000 https://thecitizenng.com/?p=284081 The Federal Government through its Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has fixed Friday, June 12, 2026, as the deadline for the submission of technical and commercial bids by prequalified applicants participating in the country’s ongoing 2025 Licensing Round. The commission disclosed this in a notice posted on its official X handle on Tuesday, urging […]

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]]> https://thecitizenng.com/fg-fixes-june-12-deadline-for-oil-block-bids/feed/ 0 IMF warns Nigeria as Tinubu plans to borrow $5 billion from UAE lender https://thecitizenng.com/imf-warns-nigeria-as-tinubu-plans-to-borrow-5-billion-from-uae-lender/ https://thecitizenng.com/imf-warns-nigeria-as-tinubu-plans-to-borrow-5-billion-from-uae-lender/#respond Tue, 09 Jun 2026 20:07:39 +0000 https://thecitizenng.com/?p=284057 The International Monetary Fund (IMF) on Tuesday warned of risks surrounding President Bola Tinubu-led Nigerian government’s plan to borrow up to $5 billion ​through a derivatives agreement with First Abu Dhabi Bank, saying such transactions are ‌often opaque and complex. Nigeria’s Senate in April gave its approval to the agreement, joining other Africa borrowers like […]

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]]> https://thecitizenng.com/imf-warns-nigeria-as-tinubu-plans-to-borrow-5-billion-from-uae-lender/feed/ 0 Senate moves to ban textile imports, targets local industry revival https://thecitizenng.com/senate-moves-to-ban-textile-imports-targets-local-industry-revival/ https://thecitizenng.com/senate-moves-to-ban-textile-imports-targets-local-industry-revival/#respond Tue, 09 Jun 2026 18:12:37 +0000 https://thecitizenng.com/?p=284048 The Senate on Tuesday moved to halt the importation of textile materials into Nigeria, urging the Federal Government to impose a total ban on textile imports as part of a comprehensive strategy to revive the country’s once-thriving textile industry, stimulate local production and create millions of jobs. The upper chamber also called on the Federal […]

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]]> https://thecitizenng.com/senate-moves-to-ban-textile-imports-targets-local-industry-revival/feed/ 0 Peter Obi slams Tinubu govt over rising debt profile https://thecitizenng.com/peter-obi-slams-tinubu-govt-over-rising-debt-profile/ https://thecitizenng.com/peter-obi-slams-tinubu-govt-over-rising-debt-profile/#respond Tue, 09 Jun 2026 17:44:36 +0000 https://thecitizenng.com/?p=284033 The 2027 presidential candidate of the Nigerian Democratic Congress (NDC), Peter Obi, has slammed President Bola Tinubu’s administration for engaging in remarkably imprudent borrowing, escalating Nigeria’s total debt to approximately N200 trillion. According to him, this represents an increase of over N100 trillion within a mere three years, a stark contrast to the roughly N49 trillion accumulated during President […]

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]]> https://thecitizenng.com/peter-obi-slams-tinubu-govt-over-rising-debt-profile/feed/ 0 Senate advances crypto regulation bill to curb fraud, protect digital economy https://thecitizenng.com/senate-advances-crypto-regulation-bill-to-curb-fraud-protect-digital-economy/ https://thecitizenng.com/senate-advances-crypto-regulation-bill-to-curb-fraud-protect-digital-economy/#respond Tue, 09 Jun 2026 15:42:26 +0000 https://thecitizenng.com/?p=284010 The Senate on Tuesday advanced the Virtual Asset Service Providers Regulation Bill, 2026, to second reading, with lawmakers warning that the absence of a regulatory framework for cryptocurrency and digital assets is driving billions of naira in investments, jobs and government revenue into the shadows. The bill, sponsored by Deputy Senate President Jibrin Barau, seeks […]

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]]> https://thecitizenng.com/senate-advances-crypto-regulation-bill-to-curb-fraud-protect-digital-economy/feed/ 0