Tuesday, February 3

Business

Nigeria, UAE scrap tariffs on over 13,000 goods

The Federal Government has announced that Nigeria has eliminated tariffs on 6,243 products imported from the United Arab Emirates, and the UAE has removed tariffs on 7,315 products imported from Nigeria, as part of a new trade pact aimed at…

AI and Impersonation Crypto Scams Experience Record Growth in 2025

Scammers and fraudsters increasingly used impersonation scams to steal crypto from unsuspecting users last year, with a 1400% year-over-year spike in cases, according to Chainalysis. Impersonation scams involve fraudsters posing as a trusted person or organization in an effort to trick…

Turkish Airlines renews three-year golf sponsorship deal

Turkish Airlines has signed a new three-year sports partnership agreement, reaffirming its long-standing commitment to elite professional golf and global sports sponsorship. Under the renewed deal, the airline will continue its title sponsorship of the Turkish Airlines Open, one of…

China’s trade surplus hits record .2tn in 2025

Stay informed with free updatesSimply sign up to the Chinese trade myFT Digest — delivered directly to your inbox.China has reported a record full-year trade surplus of $1.2tn for 2025, as exports soared despite US President Donald Trump’s trade war.Exports…

Prediction Market Trading Volumes Soar to Record Highs

Recent US regulatory action seeking to restrict prediction markets hasn’t slowed activity in the first weeks of 2026, with trading volumes hitting a record $701.7 million on Monday.Prediction market Kalshi accounted for two-thirds of total trading volume at $465.9 million, while…

SAHCO seals fresh deals, expands airline portfolio

Skyway Aviation Handling Company Plc has consolidated its position as one of Nigeria’s leading ground handling companies, recording a strong mix of commercial growth, safety achievements and industry recognition in 2025. In a statement made available to The PUNCH by…

October Crash Ended Altseason, Says Wintermute Report

Retail traders spooked by the massive crypto liquidation event in October fled back to major cryptocurrencies as their hopes for an altcoin season were dashed, according to Wintermute.Since around 2022, retail traders have been net sellers of majors such as…

Pension Broad Index leads NGX with 59.72% return

The NGX Pension Broad Index, which tracks pension-compliant equities on the Nigerian Exchange, recorded a return of 59.72 per cent in 2025, outperforming the broader market as measured by the NGX All-Share Index. Data from the Exchange showed that the…

Bitcoin 5% Surge Driven By Spot Buys, 0K On Horizon: Analysts

Bitcoin’s price could be heading for the psychological $100,000 level after breaking above $95,000 on Tuesday, with analysts attributing the recent rally to a surge in spot buying. “Seems like this rally on Bitcoin is led by spot buying,” crypto analyst…

Federal roads spending soars 489% to N3.23tn

The Federal Government has proposed spending N3.23tn on the construction and rehabilitation of federal roads in the 2026 budget, marking a sharp increase in capital allocation to the transport sector as it intensifies efforts to complete long-delayed highways and repair…

Ethereum Adoption Grows as New Wallets Surge

A combination of protocol-level upgrades, stablecoin activity, and a shift in crypto sentiment has helped push Ether wallet creation to its highest levels in history. Over the last week, an average of 327,000 new wallets have been created per day, with…

Barq, Elroy Air partner on 0m aircraft plant

Barq Group and US-based Elroy Air have signed an initial agreement to form a joint venture that will invest $200m in a new manufacturing facility in Abu Dhabi to produce the Chaparral autonomous cargo aircraft. The partnership combines Barq Group,…

Bitchat Most-Downloaded on Apple App Store in Uganda

Bitchat has become the most-downloaded app in Uganda as state officials confirmed that internet access has been cut off and will remain inaccessible during the presidential election, which starts on Thursday.It marks the third straight election in which Ugandan authorities…

Aviation ministry allocates N7.46bn to boost flight safety

The Federal Ministry of Aviation and Aerospace Development has allocated N7.46bn for technology upgrades, staff training, safety initiatives, and operational reforms in 2026. According to the 2026 Appropriation Bill, the funding will drive automation of ministry operations, library services, registry…

Strive Shares Fall 12% After Semler Deal To Expand Bitcoin Treasury

Strive’s stock fell about 12% on Tuesday after the asset manager announced an all-stock deal to acquire Semler Scientific, a transaction that will significantly expand its Bitcoin holdings.The company, co-founded by Vivek Ramaswamy, said on Tuesday that it has secured…

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