Here are the seven top business stories you need to track this week – January 12 to January 16.

FG ESTABLISHES NIGERIA HOUSE DAVOS TO HOLD INVESTMENT TALKS DURING WEF

The federal government has announced the establishment of the Nigeria House Davos ahead of the 56th annual meeting of the World Economic Forum (WEF) scheduled to hold from January 19 to January 23, in Davos, Switzerland.

According to a statement on January 9, the office would be used to project Nigeria’s economic reforms, investment readiness, institutional strength, and cultural identity to a global audience.

NCC, CBN TO LAUNCH REFUND FRAMEWORK FOR FAILED AIRTIME, DATA TRANSACTIONS

The Nigerian Communications Commission (NCC) said it has developed a joint framework with the Central Bank of Nigeria (CBN) to address consumer complaints arising from failed airtime and data transactions caused by network downtime, system glitches, or human input errors.

In a statement on January 8, Nneka Ukoha, NCC’s spokesperson, said the initiative is designed to ensure refunds within 30 seconds.

Ukoha said the framework followed several months of engagement involving the NCC, the CBN, mobile network operators (MNOs), value-added service (VAS) providers, deposit money banks (DMBs), and other relevant stakeholders.

NERC SAYS BENIN REPUBLIC, TOGO, NIGER OWE NIGERIA $11.57 MILLION FOR ELECTRICITY GENERATION

The Nigerian Electricity Regulatory Commission (NERC) said Togo, Niger, and the Benin Republic owe Nigeria $11.57 million for electricity supplied by electricity generation companies (GenCos) under bilateral arrangements in the third quarter (Q3) of 2025.

In its Q3 2025 report, the commission said although an invoice of $18.69 million was issued by the market operator (MO), only $7.12 million was paid by the international customers.

CUSTOMS ROLLS OUT FRAMEWORK FOR TEMPORARY IMPORTATION OF PERSONAL VEHICLES FOR INTERNATIONAL TRAVELLERS

The Nigeria Customs Service (NCS) has rolled out a new framework to simplify the process for international travellers bringing personal vehicles into Nigeria temporarily or transiting through the country.

In a statement on January 8, Abdullahi Maiwada, the NCS spokesperson, said the framework applies to all personal, non-commercial vehicles owned by international travellers visiting Nigeria for tourism, diplomatic, business, or personal purposes.

IBEDC ANNOUNCES PARTIAL BLACKOUT IN IBADAN OVER ROAD CONSTRUCTION

The Ibadan Electricity Distribution Company (IBEDC) said about 22 communities in Ibadan, Oyo state, will experience a three-hour power outage for seven days due to ongoing road construction.

In a statement on January 6, the IBEDC said the road was being built along Foodco Road and Idi Isin, Ibadan.

This, the electricity distribution company (DisCo) said, prompted the relocation of its facilities and assets.

NIMASA ASKS MARITIME OPERATORS TO CONDUCT SELF-AUDIT WITHIN 30 DAYS OR LOSE LICENCES

The Nigerian Maritime Administration and Safety Agency (NIMASA) has directed operators in the sector to regularise their operations to avoid enforcement measures.

In a statement on January 6 by Osagie Edward, deputy director and head of public relations at NIMASA, the agency granted maritime operators a 30-day window for self-audit and voluntary compliance, effective from January 5, 2026.

FLUTTERWAVE ACQUIRES MONO TO ‘STRENGTHEN’ PAYMENT INFRASTRUCTURE

Flutterwave, on January 5, announced the acquisition of Mono, an African open banking and account-based payments company.

In a statement, the financial technology firm (fintech) said the move is aimed at strengthening its payments infrastructure.

Flutterwave said the transaction deepens its long-term commitment to building a connected, interoperable financial system for Africa and positions open banking as a core pillar in the evolution of alternative payment methods across the region.