Nairametrics Live Updates

DSS intercepts arms shipment bound for bandit kingpin, arrests suspect in Kano The Department of State Services (DSS) has arrested a suspected arms courier in Kano State over an alleged attempt to transport weapons destined for a notorious bandit leader operating in Zamfara State. According to an operational report obtained by the News Agency of Nigeria (NAN), the suspect was apprehended on Friday in Gezawa Local Government Area following credible intelligence gathered by security operatives monitoring arms trafficking routes across the North-West. Read more https://nairametrics.com/2026/06/13/dss-intercepts-arms-shipment-bound-for-bandit-kingpin-arrests-suspect-in-kano/

Elon Musk becomes world’s first trillionaire as SpaceX shares surge on Nasdaq debut Elon Musk has become the first person in recorded history to accumulate a net worth of $1 trillion. According to a Forbes report, the business magnate crossed the milestone on Friday after SpaceX shares opened trading on the Nasdaq at $150 per share, well above the $135 IPO price set just a day earlier. SpaceX’s opening price implies a market capitalisation of nearly $2 trillion for the rocket and space exploration company, cementing its place among the most valuable businesses ever listed on a public exchange. Read more https://nairametrics.com/2026/06/13/elon-musk-becomes-worlds-first-trillionaire-as-spacex-shares-surge-on-nasdaq-debut/

CBN’s proposed HoldCo rules: What it means for banks and shareholders The Central Bank of Nigeria has published an exposure draft revising its guidelines for the licensing and regulation of Financial Holding Companies (FHCs) in Nigeria. The draft, dated June 10, 2026, and signed by Dr. Rita I. Sike, Director of the Financial Policy and Regulation Department, is open for public comments until July 9, 2026. Read more https://nairametrics.com/2026/06/13/cbns-proposed-holdco-rules-what-it-means-for-banks-and-shareholders/

"Lagos traffic isn't the only unpredictable thing we deal with, our finances can be too!" 🇳🇬💼 One minute you’re balancing your monthly budget, and the next, an unexpected expense throws your finances completely off track. If this sounds like your current reality, Nkechi and Nneka, calm down and come closer! In this video, we break down exactly how to build an emergency fund without stress, using 3 simple, practical steps. Don't say we didn't tell you! Watch, re-watch, share and start building your financial cushion today.

Tinubu scores 65.45% in governance amid rising poverty – RTC report President Bola Ahmed Tinubu’s administration has scored 65.45% over its first three years, according to RTC Advisory, which described the period as marked by bold reforms, macroeconomic stabilization, infrastructure investments, and mixed socioeconomic outcomes. The assessment, detailed in the report TINUBU’S 3 YEARS IN OFFICE: Reform Gains, Challenges and the Road Ahead, evaluated the administration across seven strategic pillars: Economic Policy & Structural Reforms, Infrastructure, Social Policy, Security, Foreign Policy, Anti-Corruption & Governance, and Industry, Trade & Investment. While structural macroeconomic distortions are being addressed, the report noted that the benefits have yet to fully translate into broad improvements in living standards. Read more https://nairametrics.com/2026/06/12/tinubu-scores-65-45-in-governance-amid-rising-poverty-rtc-report/

Ground handlers restore services to Max Air after debt negotiations Ground handling companies in Nigeria have restored services to Max Air after the airline reached renewed negotiations and made a partial settlement of its outstanding debts, reversing a suspension imposed just 24 hours earlier. The decision was announced by the Aviation Ground Handlers Association of Nigeria (AGHAN) in a joint statement issued on Friday in Lagos, signed by Chairman, Mr Olaniyi Adigun, and Vice Chairman, Mr Bashir Ahmed, according to the News Agency of Nigeria (NAN). The reinstatement follows a brief suspension triggered by unpaid obligations and alleged failure by the airline to engage in reconciliation talks. Read more https://nairametrics.com/2026/06/12/ground-handlers-restore-services-to-max-air-after-debt-negotiations/

ILO gives Nigeria until September to address labour rights concerns The International Labour Organisation (ILO) has given Nigeria until September 2026 to report on steps taken to address concerns over workers’ rights, trade union freedoms, and compliance with international labour standards. The directive was disclosed by the Secretary-General of the Trade Union Congress (TUC), Nuhu Toro, on Friday during a briefing on the 113th International Labour Conference in Geneva, Switzerland, as reported by the News Agency of Nigeria (NAN). The deadline follows complaints raised over alleged violations relating to freedom of association, collective bargaining rights, and implementation of key ILO conventions ratified by Nigeria. Read more https://nairametrics.com/2026/06/12/ilo-gives-nigeria-until-september-to-address-labour-rights-concerns/

Bluechip Technologies acquires YarnGPT, Nigerian text-to-speech AI built for local languages Bluechip Technologies Limited has acquired YarnGPT, a Nigerian-built text-to-speech AI model capable of translating English and other foreign languages into Nigerian accents and at least four indigenous languages, including Hausa, Igbo, and Yoruba. The acquisition was announced by Bluechip Co-founder and Chief Executive Officer Kazeem Tewogbade on the main stage of the Bluechip Data and AI Summit 2026, held at the Eko Hotels and Suites in Lagos under the theme “The Future, Now: AI-Driven Transformation for Africa.” YarnGPT was created by Saheed Azeez, a University of Lagos alumnus who placed first runner-up at the Bluechip Data and AI Hackathon in 2023, making the deal a rare instance in Nigeria’s AI ecosystem of a hackathon project progressing directly to acquisition by an established technology company. Read more https://nairametrics.com/2026/06/12/bluechip-technologies-acquires-yarngpt-nigerian-text-to-speech-ai-built-for-local-languages/

BREAKING: Elon Musk just became the first trillionaire in world history. Forbes estimates that Musk is now worth $1.1 trillion as of just before noon eastern Friday, up from $982 billion on Thursday, when SpaceX priced its IPO at $135 share.

Court dismisses EFCC appeal over employee’s dismissal The Court of Appeal, Abuja Division, has dismissed the appeal filed by the Economic and Financial Crimes Commission (EFCC) against its former employee, Abraham Akoji Abutu, holding that the Commission lacks the authority to dismiss an officer relying on an “invalid Staff Handbook”. The judgment was delivered on Thursday by Justice Okon Abang, sitting as a member of a three-man panel of the Court of Appeal and reading the leading judgment in EFCC v. Abraham Akoji Abutu, Appeal No. CA/ABJ/CV/563/2023. The appeal arose from the judgment of the National Industrial Court, Abuja Judicial Division, delivered on 9 February 2021, in which the dismissal of Abutu by the EFCC was declared null and void. Read more https://nairametrics.com/2026/06/12/court-dismisses-efcc-appeal-over-employees-dismissal/

SpaceX raised a record $75 billion in its IPO Thursday, with Musk's net worth previously pegged at $780 billion. His SpaceX stake alone is worth $866 billion combined with Tesla. His net worth exceeds $1.1 trillion. The second richest person is worth around $300 billion less than a third of Musk's value. Analysts call much of SpaceX's valuation an "Elon Musk premium," with one saying it "throws traditional valuation out the window." JPMorgan's Jamie Dimon, once a Musk adversary, now calls him "our Einstein." Source: CNBC

A brand new episode of Drinks and Mics is coming exclusively on Nairametrics TV. Sharp insights, honest takes, lively debates, and moments you will want to replay. Join us live at 6PM on YouTube via @nairametrics.tv Like, share, drop your thoughts in the comments, and subscribe so you do not miss future episodes. This is one conversation you want to be part of. Drinks and Mics is proudly sponsored by @ledropnigeria , @mandilasgroup , @uacfoodsng .

Naira settles at N1573/€ amid hawkish European Central Bank The Naira strengthened against the major European currency in the 4th session of the week. According to CBN data, the Naira closed at N1573/€1 against majors in the fourth session, slightly gaining against N1574/€1 recorded on Wednesday. Market activity indicates that the EUR/NGN cross rate has clearly weakened amid ongoing pressure from naira bulls. Read more https://nairametrics.com/2026/06/12/naira-settles-at-n1573-e-amid-hawkish-european-central-bank/

NGX posts 0.6% weekly gain despite Thursday dip as investors trade N52.8 billion The Nigerian equities market closed the shortened trading week in positive territory, with the NGX All-Share Index (ASI) advancing 0.6% week-on-week despite ending Thursday’s session lower. The benchmark index shed 0.05% on Thursday, June 11, to close at 244,738.74 points, while market capitalization declined by N72.74 billion to N156.97 trillion from N157.05 trillion recorded in the previous session. However, gains recorded earlier in the week were sufficient to keep the market firmly in positive territory on a weekly basis. Read more https://nairametrics.com/2026/06/12/ngx-posts-0-6-weekly-gain-despite-thursday-dip-as-investors-trade-n52-8-billion/

"To our young people, Nigeria is your home and your future. Build here, code here and work here. Every great nation was built by those who stayed to solve problems but not by those who abandoned the ship." -President Bola Ahmed Tinubu during his Democracy Day Speech 📌 Telegram: https://t.me/nmliveupdates

NDLEA destroys 73,463kg of seized drugs valued at N2.8 billion in Edo The National Drug Law Enforcement Agency (NDLEA) has destroyed 73,463.21 kilogrammes of illicit drugs and psychotropic substances valued at N2.8 billion in Edo State. The public destruction exercise was carried out on Thursday in Benin City and was attended by representatives of the Edo State Government, members of the National Assembly, NDLEA officials, security stakeholders and other government representatives. The destroyed narcotics were made up largely of cannabis, which accounted for more than 73,000 kilogrammes of the total volume. Other substances incinerated included psychotropic drugs such as tramadol, diazepam and codeine syrup, as well as smaller quantities of methamphetamine, cocaine and heroin. https://nairametrics.com/2026/06/12/ndlea-destroys-73463kg-of-seized-drugs-valued-at-n2-8-billion-in-edo/

Access, FCMB, AIICO, Transcorp, MTN: would you buy these stocks? In this episode, we break down the case for each and debate whether they’re worth adding to your portfolio. Tell us your thoughts in the comments, and watch the full video on YouTube @nairametrics.tv https://youtu.be/CS_hcxoeAc0

A thriving democracy creates the foundation for sustainable economic growth, stronger institutions, and greater opportunities for citizens. This Democracy Day, we honour the resilience of Nigeria's democratic journey and reaffirm the importance of transparency, accountability, and active civic participation in shaping the nation's future. Happy Democracy Day, Nigeria!

CBN moves to limit banks’ funding of sister companies under new rules The Central Bank of Nigeria (CBN) has proposed strict limits on loans, guarantees, asset transfers, and other financial exposures between banks and their affiliated companies as part of a new regulatory framework designed to prevent financial distress from spreading across corporate groups. The proposal is contained in the CBN’s Exposure Draft Guidelines on Ring-Fencing Operations of Closely Linked Entities, signed by the Director of Financial Policy and Regulation, Dr. Rita I. Sike, and made available to stakeholders for consultation. Under the draft guidelines, transactions between banks and closely linked entities—including fintech subsidiaries, microfinance institutions, and holding companies—must be conducted on arm’s-length terms, fully documented, and disclosed to the regulator. Read more https://nairametrics.com/2026/06/11/cbn-moves-to-limit-banks-funding-of-sister-companies-under-new-rules/

Ground handlers suspend services to Max Air over unpaid debts Ground handling companies in Nigeria have suspended services to Max Air over unpaid debts tied to aviation support operations. The suspension was announced by the Aviation Ground Handlers Association of Nigeria (AGHAN), the umbrella body of ground handling companies in the country, in a statement issued on Thursday in Lagos, according to the News Agency of Nigeria (NAN). The association said the decision followed the airline’s alleged failure to settle outstanding obligations or engage in discussions aimed at reconciling its debts with service providers. Ground handling covers essential airport support services provided to aircraft on the ground, including baggage handling, passenger assistance, aircraft towing, cargo processing, and ramp operations. Read more https://nairametrics.com/2026/06/11/ground-handlers-suspend-services-to-max-air-over-unpaid-debts/