Business Archives - Freedom Online

Tinubu Group Says Nigeria’s $40bn Net Foreign Reserves Validate Economic Reforms

Robert Imoh — Mon, 20 Jul 2026 15:27:34 +0000

The Tinubu Stakeholders Forum says the rise in Nigeria’s net foreign reserves from about $3 billion in 2023 to more than $40 billion is a major sign of improving economic stability. The political group said the development showed that reforms introduced by President Bola Tinubu were restoring confidence in the Nigerian economy. The position was […]

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Mobile Operators Cut Operational Emissions by 13% in Five Years, GSMA Says

Robert Imoh — Wed, 15 Jul 2026 14:18:55 +0000

Mobile network operators reduced their operational emissions by 13 per cent between 2019 and 2024, according to a new report by the Global System for Mobile Communications Association. The finding was contained in the GSMA Mobile Net Zero 2026 State of the Industry on Climate Action Report, released on Tuesday night. The report said the […]

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GTBANK NAMED BEST OVERALL PERFORMING BANK IN NIGERIA IN THE BANKER’S TOP 1000 WORLD BANKS RANKINGS 2026

Freedom Online — Wed, 15 Jul 2026 10:30:05 +0000

Guaranty Trust Bank Ltd (“GTBank” or the “Bank”), the flagship banking subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group”), has been named the Best Overall Performing Bank in Nigeria in The Banker magazine’s Top 1000 World Banks Rankings 2026. The recognition reaffirms GTBank’s position as one of Nigeria’s leading financial institutions and […]

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GTCO Launches Second Edition of #BeatTheDistance Initiative

Freedom Online — Wed, 15 Jul 2026 10:23:34 +0000

*Donates 3,000 Bicycles Across Six States Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has announced the 2026 rollout of its social impact initiative called #BeatTheDistance. This is a nationwide intervention aimed at supporting school children in underserved communities through the provision of bicycles to ease their daily commute to school. Marking the second […]

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Renaissance signs gas supply deal with Indorama

Freedom Online — Mon, 13 Jul 2026 12:46:17 +0000

Renaissance Africa Energy Company Limited has executed a landmark Gas Sale Agreement (GSA) with Indorama Fertilizer FZE, a subsidiary of Indorama Eleme Petrochemicals Limited, for the long-term supply of natural gas from the Assa North Ohaji South (ANOH) Gas Processing Facility. Under the agreement, which was signed on Thursday, Indorama Fertilizer will receive up to […]

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Nigeria meets 104% of OPEC quota as production soars

Ola Simeon — Mon, 13 Jul 2026 12:38:40 +0000

Nigeria’s crude oil and condensate production soared to an average of 1,735,398 barrels per day in the month of June 2026, representing positive growth for a 4th consecutive month. According to the crude statistics, released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Sunday, in the month under review, crude oil production hit 1. […]

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Dangote cracks down on illegal haulage, offers N500,000 reward for whistleblowers

Ola Simeon — Sun, 12 Jul 2026 20:28:31 +0000

*Illegal goods on Dangote Trucks to be confiscated Dangote Industries Limited has intensified efforts to combat illegal haulage activities involving its trucks by unveiling a public whistleblowing initiative that offers a cash reward to individuals who provide credible information leading to the arrest of offenders or the interception of unauthorized goods and transportation of persons. […]

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Naira Depreciates to ₦1,379.06 Per Dollar at Official Market

Robert Imoh — Wed, 08 Jul 2026 17:41:58 +0000

The naira recorded another decline at the official foreign exchange market on Wednesday, trading at ₦1,379.06 to the dollar. Data from the Central Bank of Nigeria showed that the local currency lost ₦3.32 against the U.S. dollar. The latest movement represented a 0.24 per cent depreciation when compared with Tuesday’s rate of ₦1,375.74 to the […]

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CBN to Nigerians: If you reject N100 notes, you will be sanctioned

Ola Simeon — Wed, 08 Jul 2026 15:27:08 +0000

The Central Bank of Nigeria (CBN) has warned members of the public, businesses and financial institutions against rejecting the standard N100 banknote, reaffirming its legal tender across the country. The CBN issued the clarification in a statement made available to newsmen on Wednesday by Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications. This followed reports that […]

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Naira extends gains as official exchange rate improves

Ola Simeon — Tue, 07 Jul 2026 09:13:10 +0000

The Naira opened the trading week stronger on Monday, appreciating by N1.92 against the United States dollar at the official foreign exchange market. Data published on the Central Bank of Nigeria’s official website showed the currency closed at N1,368.26 per dollar on Monday. The latest performance represented a 0.14 per cent appreciation compared with Friday’s […]

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Equities market rakes in N3.17trn daily gain

Ola Simeon — Mon, 06 Jul 2026 19:19:46 +0000

The Nigerian equities market closed on a positive note on Monday, as investors gained N3.169 trillion. The market’s positive performance was driven by renewed buying interest in banking and insurance stocks, while industrial, consumer goods and energy stocks also contributed significantly to the rally. Market capitalisation advanced by N3.169 trillion, rising from N147.102 trillion to […]

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Emmanuel Nnorom succeeds Tony Elumelu as UBA Chairman

Ola Simeon — Mon, 06 Jul 2026 19:04:43 +0000

The United Bank for Africa Plc (UBA) has announced the retirement of its Group Chairman, Mr Tony Elumelu, and the appointment of Mr Emmanuel Nnorom as his successor. The bank announced this in a disclosure to the Nigerian Exchange Ltd. on Monday. According to the statement, Elumelu will retire from the Board effective August 21, […]

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Nigeria Lost ₦2.376tn to Grid Underutilisation in 12 Years, NISO Says

Robert Imoh — Mon, 06 Jul 2026 15:47:17 +0000

The Nigerian Independent System Operator has said Nigeria lost more than ₦2.376 trillion to grid underutilisation and capacity payments between 2015 and 2026. Managing Director and Chief Executive Officer of NISO, Mr Abdu Bello, disclosed this at the 11th Nigeria Energy Forum 2026 conference in Lagos. The theme of the conference was “Upscaling Value Addition […]

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Fuel Price: Lokpobiri Tells Marketers to Align Pump Prices With Global Crude Oil Drop

Robert Imoh — Mon, 06 Jul 2026 13:40:23 +0000

The Minister of State for Petroleum Resources, Oil, Sen. Heineken Lokpobiri, has urged petroleum marketers to adjust fuel prices in line with the recent drop in international crude oil prices. Lokpobiri made the call on Monday in Abuja during a stakeholders’ meeting on cost-reflective pricing of petroleum products. The meeting was organised by the Nigerian […]

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Asaba Traditional Council Moves to Enforce Ban on Ogbono Sale in Indigenous Markets

Robert Imoh — Sun, 05 Jul 2026 17:51:27 +0000

The traditional authorities in Asaba, Delta State, have announced plans to enforce the ban on the sale of ogbono seed in indigenous markets across the community. The directive was announced by the 14th Omu Ahaba of Asaba, Chief Ada Biosah, in collaboration with the Ndi Eze Ahaba. Ogbono seed, locally known in Asaba as Okoru […]

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