Business

Tinubu Approves ₦2.8tn GenCo Debt After Audit Slashes ₦6tn Claim

IDNN
President Bola Tinubu has approved ₦2.8tn as the Federal Government’s verified electricity subsidy liability to power generation companies, following a tripartite audit that cut operators’ ₦6tn claim by more than half. The decision includes conditions on gas debt settlement and infrastructure reinvestment as authorities seek to stabilise Nigeria’s power sector liquidity crisis....

Tinubu, German Chancellor Agree on Power and Security Cooperation

IDNN
Tinubu German power security cooperation discussions intensified during a phone call between President Bola Tinubu and Chancellor Friedrich Merz, with both leaders pledging deeper collaboration in electricity transmission, railway modernisation and Sahel intelligence support. Germany signalled readiness to back Nigeria’s power infrastructure through Siemens and financial support mechanisms, while security coordination featured prominently....

Nigeria Opens Probe into Temu Over Suspected Data Protection Breaches

IDNN
Nigeria opens probe into Temu over suspected data protection breaches, as the country’s data watchdog examines concerns around surveillance practices, cross-border data transfers and data minimisation compliance. The investigation could trigger penalties under Nigeria’s data protection framework if violations are established in one of Africa’s largest digital markets....

China to Scrap Tariffs for African Nations From May, Signals Trade Reset

IDNN
China scrap tariffs Africa policy shift is set to take effect in May, as Beijing announced plans to remove import duties on a wide range of goods from African countries. The move is positioned as a trade facilitation measure, but it also carries strategic implications for supply chains, export growth and geopolitical influence....

How OFAC Sanctions Interact With Nigeria’s Counter-Insurgency Architecture

IDNN
OFAC sanctions Nigeria counter-insurgency dynamics have become increasingly intertwined as US financial blacklists target individuals allegedly linked to extremist networks. While Washington freezes assets and restricts global dollar access, Nigeria’s domestic security and financial intelligence architecture determines whether those designations translate into operational disruption on the ground....

Shettima to Lead FG Delegation to Kano After Singer Market Fire

IDNN
Vice President Kashim Shettima will lead a Federal Government delegation to Kano following the devastating Singer Market fire Kano incident that reportedly destroyed goods worth billions of naira. President Bola Tinubu has ordered financial support for affected traders and a full investigation into recurring market fires in the state....

How Phone Interception Is Legally Authorised in Nigeria

IDNN
Phone interception in Nigeria is tightly regulated under constitutional and statutory law. While the technology exists, access is restricted and subject to judicial authorisation. This explainer outlines who can legally intercept communications, under what conditions, and what safeguards exist to prevent abuse within Nigeria’s security and intelligence framework....

Soludo Says Sit-at-Home Suspension Is Driving Monday Trade Rebound in Onitsha

IDNN
Anambra Governor Charles Soludo says the sit-at-home suspension trade rebound is becoming visible in Onitsha, with increased Monday market activity following recent security enforcement. He linked improved commercial turnout to restored public confidence, though no independent economic data has yet quantified the scale of recovery....

NAFDAC Denies FG Order Suspending Sachet Alcohol Ban, Calls Reports Misleading

IDNN
The National Agency for Food and Drug Administration and Control (NAFDAC) has denied reports that the Federal Government suspended its sachet alcohol ban, describing circulating claims as misleading. The agency clarified that regulatory timelines remain unchanged and urged the public to rely only on official communications regarding enforcement decisions....

This website uses cookies to improve User experience. Accept Learn More

Our Policies