Author: Ifetayo Adeniyi

CBN The CBN directed all regulated entities to submit monthly market share returns and stated that “all affected financial institutions are required to take necessary measures to achieve full compliance not later than December 31, 2026.” The Central Bank of Nigeria, CBN, has directed banks, fintechs and other operators in the payments ecosystem to store all payment transaction data generated in Nigeria within the country, while also introducing measures to curb excessive market dominance in the industry. The apex bank disclosed this in a circular dated June 15, 2026, titled, “Introduction of Market Structure Requirements, Data Localisation, Ultimate Beneficial Ownership…

Pipeline Infrastructure Nigeria’s Trans Niger Operations Help Drive Nigeria’s 80% Oil Production Recovery Nigeria’s crude oil and condensate production has risen by approximately 80 per cent since May 2023, and the integrity of the Trans Niger Pipeline (TNP), one of the country’s principal crude evacuation channels, has been central to the gain. Pipeline Infrastructure Nigeria Limited (PINL), the wholly Nigerian infrastructure company responsible for the corridor, recorded zero infractions on the line in its May stakeholder engagement. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed the production figure at the Petroleum Ministry’s retreat in Abuja. Output that…

Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani Nigeria Will Need Digital Postcode for Transformation of Commerce, Security, Reduce Delivery Costs The Federal Government has said Nigeria’s Digital Alphanumeric Postcode System, scheduled for launch this year, will transform commerce, strengthen security and significantly reduce delivery costs nationwide. Speaking at the National Digital Alphanumeric Postcode System workshop in Abuja, Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, described the initiative as critical national infrastructure designed to address Nigeria’s long-standing challenge of poor addressing systems. He stated: “You can’t really get many things done without a digital…

Dangote refinery. Photo: Dangote Dangote Petroleum Refinery has dropped the gantry price of Premium Motor Spirit (petrol) by N75 per litre. According to 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 in the Middle East, which has impacted energy prices. We wish to inform you that we have reviewed our premium motor spirit gantry/coastal price,” the circular stated. It added that the new gantry price is now N1,175 per litre, down…

African Film Festival Takes Place In Dallas. The African Film Festival (TAFF) will return to Dallas for its 11th edition later this month, coinciding with the global attention generated by the 2026 FIFA World Cup in the United States. Scheduled for 18–20 June at The Royal Palace in Addison, Texas, the festival will bring together filmmakers, artists and audiences from across Africa and the diaspora, with organisers hoping to capitalise on the increased international interest surrounding the World Cup. Founded in 2015, TAFF has grown into a recognised platform for showcasing African cinema outside the continent. This year’s edition will…

His Excellency, Dr. Dauda Lawal, Executive Governor of Zamfara State, has approved a minor cabinet reshuffle involving three Honourable Commissioners as part of ongoing efforts to strengthen governance and enhance service delivery across the State. Announcing the development, the Secretary to the Zamfara State Government, Malam Abubakar Mohammad Nakwada, stated that the redeployment is aimed at strategically repositioning key Ministries for greater efficiency and effective implementation of the Administration’s Rescue Agenda. The affected Commissioners are: I. Hon. Abdulrahaman Tumbido, redeployed from the Ministry of Commerce and Industry to the Ministry of Environment and Natural Resources; II. Hon. Kasimu Yahya Kaura,…

Iran Supreme Leader, Ayatollah Ali Khamenei Funeral activities will begin in Tehran on July 4 and continue for three days. Iran has announced plans to bury its former Supreme Leader, Ayatollah Ali Khamenei, on July 9, more than four months after he was killed in airstrikes carried out by Israel and the United States. According to reports from Iranian state television, the burial will take place in Mashhad, the northeastern holy city where Khamenei was born. The funeral was originally expected to hold in March but was delayed because of the conflict that followed his death. The funeral activities will…

Jim Swartz – Chairman and Managing Director, Chevron Nigeria and Mid-Africa region The non-technical phase begins June 15, 2026, with Blueshell Energy Training Services. LAGOS, Nigeria, June 15, 2026 – Chevron Nigeria Limited (CNL), in partnership with the Nigerian Content Development and Monitoring Board (NCDMB) and Bristow Helicopters, has launched a helicopter pilot development programme that will train 10 Nigerian cadet pilots and two trainees from CNL’s neighbouring communities, advancing local capacity in Nigeria’s oil and gas aviation sector. Speaking on behalf of the company, Olusoga Oduselu, Chief Corporate Affairs Officer, said the programme, which is the first of its…

Accountant-General of the Federation, Oluwatoyin Madein The Federation Account Allocation Committee has shared N2.26 trillion among the Federal Government, states and local government councils as April 2026 revenue, representing an increase of N217 billion from the N2.04 trillion distributed in the previous month The latest allocation marks a 10.6 per cent increase from the March 2026 revenue shared in April. The details were contained in a statement issued on Monday by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa, following the Federation Account Allocation Committee meeting held in Abuja. According…

Telecoms tower • Optasia’s revenue rose by 75.5 per cent to $265.36 million in 2025 from $151.19 million in 2024. Millions of mobile subscribers across Africa borrowed airtime worth about N4.6 trillion ($3.18 billion) in 2025, underscoring the growing role of telecom-based lending as households grapple with rising living costs and limited access to formal credit facilities. The latest figures contained in the financial statements of fintech firm Optasia, showed that airtime advances issued through mobile network operators increased by 12.3 per cent to $3.18 billion in 2025 from $2.83 billion recorded in 2024. Africa accounted for $2.99 billion of…