Business

The Federal Government has revealed that Nigeria has started exporting domestically produced solar panels to Ghana, marking a significant step in the country’s renewable energy sector. Officials noted that Nigeria’s approach to rural electrification is gaining recognition across Africa, positioning the country as a growing player in clean energy solutions. The government also highlighted the potential for expanding solar power projects in border communities, which could enhance cross-border electricity trade and boost regional energy stability. Speaking at a recent event, the Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, explained that Nigeria’s solar manufacturing capacity has increased from 120 megawatts to 300 megawatts within two years. He attributed...

A senior Iranian official confirmed on Thursday that Tehran has received its first revenue from tolls imposed on vessels navigating the strategic Strait of Hormuz.  This development signifies a major shift in the ongoing maritime standoff and the broader regional conflict involving the United States and Israel.Hamidreza Hajibabaei, the deputy speaker of parliament, stated that the funds have already been deposited into the Central Bank account, a claim echoed by several Iranian state media outlets.The Strait of Hormuz is a vital global energy artery through which approximately twenty percent of the world's oil and gas flows during peacetime. Since the start of hostilities on February 28, Iran has severely restricted maritime traffic, allowing only a fraction of ships to pass.Offici...

The Central Bank of Nigeria has issued a warning to the public over rising cyber hack attempts targeting personal accounts, cautioning Nigerians against fraudulent messages and emails falsely claiming to originate from the bank. In a statement signed by Hakama Sidi Ali, the apex bank said scammers are circulating misleading communications designed to deceive individuals and compromise sensitive information. According to the regulator, the fake messages, often sent via email or online platforms, typically urge recipients to click suspicious links and may contain false claims about the bank’s leadership, licensing activities, or policy decisions. CBN said the intent of such communications is to gain unauthorized access to personal accounts and mislead unsuspecting members of the...

Nigeria’s Minister of Power, Adebayo Adelabu, has resigned from the cabinet of President Bola Tinubu. According to reports, Adelabu submitted his resignation letter dated April 22, 2026, through the Secretary to the Government of the Federation, with his exit set to take effect on April 30, 2026. In the letter, the Oyo State-born politician explained that his decision was driven by his intention to focus on his 2027 governorship ambition in Oyo State, a pursuit he said began as far back as 2016. He noted that his previous role as Deputy Governor of the Central Bank of Nigeria and his resignation from that position in 2018 were also part of his long-term political plans. Adelabu expressed gratitude to President Tinubu for the opportunity to serve, acknowledging the trust placed ...

Snap Inc. the tech firm behind social network Snapchat cut 1,000 jobs on Wednesday, April 15. The reason given for the job cuts is that AI is boosting efficiency as the company strives to be profitable. The shake-up at Snap involves about 16 percent of its full-time employees and elimination of more than 300 unfilled roles, chief executive Evan Spiegel said in a memo shared by the company. “We believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity and better support our community, partners and advertisers,” Spiegel wrote. “We have already witnessed small squads leveraging AI tools to drive meaningful progress across several important initiatives.” The southern California-based tech firm joins a growi...

Here’s a breakdown of the current Dollar to Naira exchange rates as of April 21, 2026. Black Market (Parallel Market / Aboki FX) In the Lagos parallel market, currency traders are selling one US dollar for ₦1400 and buying at ₦1390, based on data from Bureau De Change (BDC) sources as of April 20. Official Rate (CBN) According to the Central Bank of Nigeria, the official exchange rates for the day are: Highest rate: ₦1353 Lowest rate: ₦1341 The apex bank does not recognize the black market and advises individuals interested in foreign exchange transactions to use authorized banks and official channels. Important Note Exchange rates may vary depending on location, dealer, and market conditions, so the actual rate you get when buying or selling may differ slightl...

A United Airlines plane with around 200 passengers on board was forced to evacuate over a bomb threat at Denver airport on Sunday, April 19. Denver International Airport confirmed with FOX31 that a bomb threat was reported and that 200 passengers and seven crew members were able to evacuate safely while the plane was on the tarmac. United Airlines told FOX31 that there was a “security concern” and that the flight deplaned safely via airstairs, at which point the aircraft was screened and cleared. Passengers were returned to the gate, where they were provided food and water. The flight was ultimately able to depart for Washington at 11:33 p.m., more than five hours after its originally scheduled departure time of 5:59 p.m. The Allegheny County Police Bomb Squad told the outlet i...

Hopes for a sharp decline in petrol prices in Nigeria have been dampened following Iran’s decision to shut the Strait of Hormuz once again—a vital global oil shipping corridor. The waterway had briefly reopened on Friday after a ceasefire between Iran and the United States, but was closed again within 24 hours. Iranian authorities cited the continued blockade of its ports by the US as the reason for the renewed action. On Saturday, Iran’s military confirmed that the strait had “returned to its previous state,” effectively restricting movement through the channel. The Strait of Hormuz handles roughly 20% of the world’s crude oil shipments, making it a major influence on global oil prices. Reports also indicated that Iranian gunboats fired at a merchant vessel attempting to pass throug...

The Federal Competition and Consumer Protection Commission (FCCPC) has refuted claims that airtime borrowing and data advance services have been banned in Nigeria, describing such reports as false and misleading. In a statement shared on its official 𝕏 platform, the Commission clarified that it has not issued any directive stopping Nigerians from accessing legitimate telecom value-added services. According to the FCCPC, the confusion stems from regulatory measures introduced in July 2025 under the DEON Consumer Lending Regulations. These rules were implemented in response to a surge in consumer complaints about how digital lending and telecom advance services were being operated. The Commission highlighted issues such as hidden charges, unexplained deductions, aggressive debt reco...

The Airline Operators of Nigeria (AON) has announced a temporary suspension of its planned industrial action. According to Naija News, the decision followed the intervention of the Minister of Aviation and Aerospace Development, Festus Keyamo. In a communiqué released after an emergency meeting of its Executive Council and Board of Trustees on Friday evening, the association said the suspension is to create room for dialogue and a possible resolution of the ongoing dispute. The AON stated that the shutdown earlier scheduled for Monday, April 20, 2026, has been put on hold pending the outcome of a meeting convened by the Minister. The association explained that the meeting, set for Wednesday, April 22, 2026, will allow stakeholders to engage constructively and work towards a las...