Economy
Economic Roundup: Key Business and Financial Headlines – Nigeria in 1 Minute – 231026
Catch up on the latest economic, business, and financial market headlines in Nigeria as reported by Proshare on October 23, 2026.
#Business
Business
Nigeria-China Financial Corridor: Cardoso Engages Business Leaders for Strengthening Ties
President Cardoso is leading efforts to deepen Nigeria's financial ties with China, convening a high-level business roundtable in China.
Abuja
EFCC Arrests Abuja Businessman for Alleged $120m Fraud
The Economic and Financial Crimes Commission (EFCC) has arrested an Abuja businessman over allegations of defrauding a Ukrainian investor of $120 million.
Business
Indonesia-Nigeria Trade Soars to $1.98bn in Seven Months
Trade between Indonesia and Nigeria has reached a significant milestone, with over $1.98 billion transacted in just seven months.
International Affairs
UK Water Companies Pursue Powers to Limit Business Water Usage
Water companies in England are seeking permission to restrict non-essential water use by businesses as prolonged drought conditions persist.
Crime & Justice
Lekki Property Scam: Blessing CEO Accused of Deceiving Businessman Out of N69 Million
Social media influencer Blessing Nkiruka, also known as Blessing CEO, is accused of defrauding a businessman of N69.15 million by falsely promising a lease on a Lekki property.
Economy
Business Activity Booms as Election and Festive Season Approach
Nigerian Economic Summit Group (NESG) reports a surge in business activity in September, driven by the upcoming elections and the holiday season.
Crime & Justice
Insecurity Undermining Nigeria’s Economic Growth, Warns NESG
The Nigerian Economic Summit Group (NESG) has issued a warning about the detrimental impact of insecurity on the country's economic growth.
Business
Abuja Continental Hotel Denies TUC’s Anti-Labour Allegations, Cites Court Order
Abuja Continental Hotel has refuted claims of anti-labour practices by the Trade Union Congress (TUC) and cited a court order as evidence.
Federal Politics
Kenyan Presidential Candidate Threatens to Deport Dangote
A Kenyan presidential candidate has threatened to deport Aliko Dangote, the Nigerian business magnate, ahead of the country's election.
Breaking News
Morning recap: UK varsities withdraw admission offers to Nigerians, why Peter Obi won’t win a ward in Anambra, other top stories
Some UK universities have withdrawn admission offers to Nigerians due to stricter visa rules, and Anambra governor Peter Obi is unlikely to win his ward election, according to…
Business
Indian Billionaire Nitin Sandesara Expands Business in Nigeria with Vessel Construction
Indian oil tycoon Nitin Sandesara has ventured into vessel construction in Nigeria, marking a significant expansion of his business portfolio.
Crime & Justice
US Issues Warning to Business Executives over Detention Risks in Nigeria
The US government has warned American investors and executives about potential detention risks while conducting business in Nigeria.
Finance
J.P. Morgan to Launch Merchant Bank in Nigeria Before Year-End
According to reports, J.P. Morgan is planning to establish a merchant bank in Nigeria before the end of the year.
Startups
Moove Shuts Down Operations in Nigeria, Gifts Drivers ₦35 Billion Worth of Cars
Nigerian ride-hailing service Moove announces closure, offers free cars to drivers worth ₦35 billion.