Stock market investors lose N904bn as profit-taking ends bullish rally
Investors lost N904 billion on Tuesday as sell-offs in major stocks dragged the Nigerian stock market into negative territory, ending a four-day rally on the NGX. Heavy profit-taking in Guinness Nigeria, Union Dicon Salt, AIICO Insurance, Wema Bank, MTN Nigeria, and others pressured market performance. The market capitalisation dropped from N156.056 trillion to N155.152 trillion, representing a loss of N904 billion,...
INEC resumes voter registration May 11
The Independent National Electoral Commission (INEC) has announced that the nationwide Continuous Voter Registration (CVR) exercise will resume for its third and final phase on Monday, May 11, 2026. INEC recalled that the second phase of the exercise was suspended on April 17 to allow the commission clean up the register after its publication for claims and objections by registrants. The...
FG targets $1trn economy as Tinubu meets global investors in Paris
President Bola Ahmed Tinubu has engaged top global investors in Paris, France, as part of efforts to boost confidence in Nigeria’s economy and attract foreign investment. At the high-level meeting, the president emphasised his administration’s commitment to transparency, fiscal discipline, and policy stability, noting that recent economic reforms were designed to eliminate distortions and stabilise key macroeconomic indicators. Speaking during the...
UBA, Redtech, MoMo PSB partner to boost cardless payments nationwide
United Bank for Africa, Redtech, and MoMo PSB have launched a strategic payment interoperability partnership aimed at expanding seamless, cardless transactions for consumers and merchants across Nigeria. The collaboration enables MoMo PSB users to make payments directly from their mobile wallets at participating UBA merchant outlets using the “Pay with MoMo” feature available on RedPay point-of-sale (POS) terminals. Customers can...
Senate amends rules, excludes new senators from leadership races
The Nigerian Senate has amended its standing rules, effectively restricting newly elected senators from contesting for key leadership positions in the forthcoming 11th National Assembly. The amendment followed a motion presented by Deputy Senate Leader, Lola Ashiru (APC–Kwara), during plenary on Tuesday after a closed-door session that lasted nearly three hours. According to the revised provisions, changes were made to Orders...
Arsenal defeat Atletico Madrid to reach first Champions League final in 20 years
Bukayo Saka scored the only goal as Premier League leaders Arsenal defeated Atletico Madrid 1-0 advance to the Champions League final for the first time in 20 years on Tuesday. The Gunners advanced to the final with a 2-1 aggregate win over Atletico in the semi-final second leg game at Emirates Stadium. Saka turned home the decisive goal just before half-time...
Nissan to sack 900 workers in Europe
Nissan Motor has announced that it will cut about 900 jobs in Europe, around 10% of the total. The Japanese automaker, in a statement on Tuesday, May 5, 2026, said the job cuts will focus on white-collar and warehouse roles, adding that the company's current European headcount stands at about 9,300. The company's sweeping turnaround plan, launched last year under Chief...
Court admits school fees judgment as evidence in Yahaya Bello’s N110.4bn fraud trial
A Federal Capital Territory High Court in Abuja has admitted a court judgment as evidence in the ongoing money laundering trial of former Kogi State Governor Yahaya Bello, as the Economic and Financial Crimes Commission pressed for uninterrupted proceedings in the high-stakes case. Justice Maryanne Anineh of the FCT High Court, Maitama, admitted the Certified True Copy of a judgment...
Chad mourns 23 soldiers killed in Boko Haram raid
At least 23 soldiers of the Chadian Armed Forces have been killed and 26 others wounded after suspected Boko Haram fighters launched a nighttime assault on a military base in the Lake Chad region. The attack, which occurred late Monday, targeted a military position on the island of Barka Tolorom within Lake Chad. The army said troops engaged the insurgents in...
How I was co-opted into coup plot against Tinubu — Julius Berger official
A Julius Berger employee attached to the Presidential Villa in Abuja told a Federal High Court on Tuesday that he was unknowingly drawn into the alleged plot to overthrow President Bola Tinubu's government, insisting he was misled by co-defendants who concealed the true nature of their activities from him. Zekari Umoru, the fourth defendant in the ongoing trial of six...
