Sunday, June 21

Business

Unauthorised escape flight from Asaba triggers security fears

Fresh security concerns have emerged in Nigeria’s aviation sector after a privately operated aircraft that reportedly landed on a roadway near Asaba, Delta State, subsequently departed the location and returned to Lagos without obtaining regulatory approval. The Nigeria Civil Aviation…

Customs seize N1.3bn smuggled vegetable oil products

The Nigeria Customs Service said it recorded about 65 seizures of vegetable oil products in 2025 and another 23 in 2026, with a combined duty-paid value of approximately N1.314bn. This is even as the service announced that it has intensified…

FG launches mineral exploration grants to boost mining

The Federal Government on Wednesday launched the Early-Stage Mineral Exploration and Research Grant Endowment programme, known as EMERGE, in a fresh push to accelerate mineral exploration, support research institutions and promote local processing of Nigeria’s mineral resources. The initiative, unveiled…

Tether Expands AI push with Lead Role in NEURA Robotics Raise

Tether is leading a funding round of as much as $1.4 billion for German tech company NEURA Robotics, deepening the stablecoin issuer’s push into artificial intelligence and robotics.The round, which values NEURA at roughly $7 billion, is expected to include…

Probe deepens into Warri-Itakpe train derailment

The Nigerian Safety Investigation Bureau has said its investigation into the derailment of a train operating along the Warri-Itakpe rail corridor has progressed with the retrieval of critical evidence and the completion of key on-site investigative activities. The NSIB disclosed…

Researcher Jailbreaks Claude Fable 5 Within 48 Hours of Launch

An artificial intelligence and cybersecurity researcher claims to have jailbroken Anthropic’s latest AI model, Claude Fable 5, within just 48 hours of it being launched. “Pliny the Liberator,” a well-known figure in the AI community, said on Wednesday he “liberated” Fable…

FCMB names economist Bismark Rewane board chairman

First City Monument Bank Limited has appointed Bismarck Rewane as a Non-Executive Director and Chairman of its Board of Directors following approval from the Central Bank of Nigeria. It stated in a statement that the appointment brings one of Nigeria’s…

Investigations into Warri-Itakpe train crash underway – Official

Investigations into the fatal train crash on the Warri–Itakpe Train Service in Delta State on Monday have commenced, the Federal Ministry of Transportation said Wednesday, assuring of ongoing efforts to identify all injured victims. The ministry, alongside the Nigerian Railway…

Dangote may benefit from Russia’s jet fuel export ban

The Dangote Petroleum Refinery could gain stronger positioning in the global aviation fuel market following Russia’s decision to extend its ban on jet fuel exports until 30 November 2026, amid sustained attacks on its refining infrastructure. Russia announced the restriction…

Canadian Teen Scams M, Splurges on Lambos, BMWs

A Canadian teen stole more than $13 million in crypto through social engineering scams to pay for an “exotic lifestyle” in Miami and Los Angeles, including buying luxury cars, jewelry and taking private jet trips, US prosecutors say.In May, US…

Nigeria eyes 209,000MW, bn solar power projects — Report

Nigeria is targeting a major expansion of its electricity generation capacity, with plans to achieve 209,000 megawatts of power generation by 2050, especially with 53 large-scale renewable solar power projects valued at about $11bn underway, according to a report by…

US Inflation Hits 3-Year High, Pressuring Bitcoin and Gold

Market analysts have cautioned that Bitcoin and gold may face further headwinds this year following a 4.2% annual increase in the US Consumer Price Index (CPI) in May, according to figures released on Wednesday. The surge in the consumer price…

Truck efficiency key to cleaner port operations – TTP

The Trucks Transit Parks Limited, manager of the electronic call-up system, has noted that efficient truck management contributes significantly to environmental protection and improved working conditions for dockworkers. It added that reducing traffic congestion around Nigeria’s seaports is critical to…

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