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Abuja, May 15, 2026 – The National Pension Commission (PenCom) has granted approval to Pension Fund Administrators (PFAs) to invest in the Initial Public Offering (IPO) of Dangote Refinery. The approval is contained to in a circular issued by Pencom to the PFAs dated May 13, 2026. PenCom described the approval as a one-off waiver in recognition of the strategic importance of the Dangote Refinery to Nigeria’s economy and the strong investment fundamentals underpinning the project. PFAs are restricted from investing in companies without a proven profitability and dividend payment history. …

Beijing, May 15, 2026 – Presidents Donald Trump and Xi Jinping wrapped up critical talks on Friday, claiming important progress in stabilizing U.S.-China relations even as deep differences persist between the world’s two biggest powers on Iran, Taiwan and more. Xi welcomed Trump at his official residence, Zhongnanhai, on Friday for their final engagement of the summit before the U.S. leader’s return to Washington. The leaders took a short walk through the grounds that feature ancient trees and Chinese roses, and strolled through a covered passageway with green columns and archways …

Lagos, May 15, 2026 – The Nigerian currency, Naira, depreciated at the official foreign exchange market on Thursday, closing at N1,371 to the dollar. The naira exchange had closed at N1,368.9500 to the dollar on Wednesday, from N1,373.0000 on Tuesday. Bid rates offered by dealers in the market on Thursday ranged between N1,369.50 and N1,372 to the dollar. Meanwhile, the naira is being traded at the black market in Lagos between N1,380 and N1,400 to the dollar.

London, May 15, 2026 – Oil headed for a weekly gain as the crucial Strait of Hormuz remains effectively closed, with efforts to end the war in limbo and disruptions that have upended global markets set to linger. Brent crude climbed to trade near $107 a barrel, and futures are up about 6% this week. West Texas Intermediate was above $102. President Donald Trump has made conflicting remarks on Hormuz, telling Fox News the US doesn’t need the waterway open, and then later saying “we want the straits open” while …

Lags, May 12, 2026 – Fidelity Bank Plc has reported a 45 percent increase in gross earnings for the 2025 financial year, as the lender’s shareholders’ funds crossed the N1 trillion mark following sustained balance sheet expansion and fresh capital injection. Analysis from the audited financial statements for the year ended December 31, 2025, reveals that the bank delivered robust results across key financial metrics, including Gross Earnings, which stood at N1.5 trillion, up from N1,04 trillion reported in 2024. Net Interest Income rose to N831 billion, compared to N629.7 billion …

Lags, May 12, 2026 – The fourth edition of the Ecobank National Schools Team Chess Championship came to a successful conclusion in Lagos, with Chess in Slums Africa winning the Primary Category. Platform School reclaimed and retained the Secondary Category title after two days of intense and inspiring competition. The championship, sponsored by Ecobank Nigeria, supported by SchoolMate, Newcross, Exploration & Production Limited, GZI Limited and Frutta and organized by the Nigeria Chess Federation (NCF), attracted over a thousand students from schools across the country to the Ecobank Pan African …

Washington, May 12, 2026 – President Trump is set to meet Chinese leader Xi Jinping in Beijing on May 14 and 15 for talks about trade, Taiwan, and China’s relationship with Iran as the war in the Middle East enters its third month. It will be Trump’s second trip to China as president — and the first for any U.S. president since his initial visit in 2017. Sixteen chief executives of major U.S. companies, including Elon Musk of Tesla and Tim Cook of Apple, will join Trump on the trip …

Abuja, May 12, 2026 – The Federal Government is seeking additional $1.25 billion loan from the World Bank. This is second largest loan from the World Bank taken by the Tinubu administration. The loan, which is aimed at stimulating economic development, is expected to be presented to the National Assembly for approval in June 2026. According to the World Bank, discussions on the loan have reached approval stage. The bank said the loan is specifically meant to expand access to finance, improve digital, and electricity supply, services as well as …

London, May 12, 2026 – The ceasefire between the US and Iran reached a particularly precarious moment Monday as President Donald Trump said the agreement was on “massive life support” after he rejected Tehran’s latest peace offer. Speaking to reporters in the Oval Office, Trump called Iran’s response to his proposal a “piece of garbage” and said he “didn’t even finish reading it.” Iran responded to last week’s US peace proposal by demanding a lifting of Washington’s naval blockade and sanctions relief, while maintaining a degree of control over traffic …

Lags, May 12, 2026 – Aviation business, not only in Nigeria, is generally known to be a capital intensive one and strictly guided by international regulations as prescribed by the International Civil Aviation Organisation (ICAO). The ICAO recommended standards and practices are to be referred to when dealing in aviation business, therefore, Nigeria being a signatory to ICAO should uphold international civil aviation standards and fulfill its obligations under the Convention on International Civil Aviation. Numerous challenges, including high operating cost, fluctuating exchange rates, difficulties in aircraft repossession, perceived high-risk …