Eight kidnappers arrested after security agencies rescue abducted schoolchildren in Oyo State. Bayo Onanuga affirms no concessions made for their release.
The CBN assures that all ₦100 banknotes remain valid, urging Nigerians to ignore false claims and rely on official communications to prevent transaction disruptions.
Oyedele pointed out that the government was missing out a lot of tax revenue from digital entrepreneurs like content creators, skit makers and others.
The federal government has directed the Nigerian Electricity Supply Industry (NESI) to improve distribution by at least 50% in the next 18 months.
After buying additional 4.7 billion shares 2 years ago, Otudeko has sold all 10.4 billion shares in First Bank HoldCo, making way for another majority shareholder.
The Nigerian currency, the naira, depreciated to N1,530 per dollar on Wednesday, July 16, 2025, from N1,518 the previous day, as dollar demand rose in the FX market.
G20 chair South Africa warned Thursday that abandoning the rules-based global order and declining cooperation could derail 2030 development goals to end hunger, eradicate extreme poverty and fight climate change.
Swiss pharmaceuticals giant Novartis posted Thursday a 29 percent increase in first-half net income, at $7.6 billion -- and unveiled its new chief financial officer. The Basel-based firm's net sales increased 12 percent to nearly $27.3 billion between January and June, it said in a statement.
Swatch Group said Thursday that weak sales in China wiped out growth elsewhere in the first half of the year for the world's top watch company, leaving it barely profitable. Besides its eponymous Swatch watches, the company owns high-end brands such as Omega, Longines and Tissot, and like other luxury firms the demand of Chinese consumers for Western goods has made it a top market.
Volvo Cars announced on Thursday it had swung into loss in the second quarter, after it took an impairment charge for its electric cars, booked restructuring charges and dealt with a slower, tariff-troubled market. Volvo Cars announced in April an 18-billion-kronor cost-cutting plan, part of efforts to navigate a car market buffeted by US tariffs and a costly switch to electric vehicles.
The US Senate approved early Thursday a package of spending cuts proposed by President Donald Trump that would cancel more than $9 billion in funding for foreign aid programs and public broadcasting.
Economy
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