Business
Markets, economy, and corporate news
Showmax Shutdown: Everything You Need to Know Before the April 30 Blackout
Canal+ moves to discontinue Showmax as part of a $3bn restructuring, migrating original content to DStv Stream
FAAC Disburses ₦1.89tn February Revenue to FG, States, LGs
Nigeria’s three tiers of government have shared ₦1.894 trillion for February 2026, despite a significant dip in VAT and statutory gross earnings during the period.
Tinubu Appoints GTB Co-Founder Fola Adeola to Lead Oil Reform
President Tinubu has named Fola Adeola to chair a high-level taskforce aimed at unlocking $10bn in liquidity and overhauling Nigeria’s petroleum sector.
CBN Orders New Round of Bank Stress Tests Effective April 1; Shortfalls to be Rectified in 18 Months
Following the recapitalisation deadline, the CBN has introduced a new stress testing framework to assess bank resilience against forex volatility and commodity price shocks
UK Economy Stagnates as War-Induced Energy Shock Threatens Further Decline
Official data reveals the UK economy ground to a halt in January, with zero growth recorded even before the inflationary impact of the Iran-Israel war took hold.
Oil Surges Past $100 as Iran Tightens Grip on Strait of Hormuz
Global oil prices hit $101 per barrel as Tehran uses the Strait of Hormuz as a strategic lever, defying IEA reserve releases and US Treasury interventions.
President Tinubu Appoints Lamido Yuguda as CBN Deputy Governor
President Tinubu nominates former SEC Director-General Lamido Yuguda as the new CBN Deputy Governor, bringing decades of IMF and apex bank experience back to the fold.