Sterling Bank has eliminated transfer charges for local online transactions, making it the first major Nigerian bank to implement a zero-fee policy. The move has sparked widespread public approval and pressure on other banks to follow suit, redefining digital banking with a customer-focused...
Cadbury Nigeria reports a N22.2 billion loss for the 2024 fiscal year, a slight decrease from the previous year’s N22.4 billion loss. Despite a 61% revenue growth to N129 billion, the company faced a 24% drop in operating income and a 57% decrease in equity, signaling financial challenges...
Trump's administration begins mass layoffs at the FDA, CDC, and NIH, affecting 10,000 employees to reduce government spending. The cuts, including top officials and health experts, raise concerns about the future of public health response, particularly amidst ongoing health crises like measles...
The SEC has warned that Ponzi scheme operators in Nigeria could face a 10-year jail term and N20 million fine under the new Investments and Securities Act 2025. The new law strengthens enforcement measures to protect investors and ensure market integrity, with additional provisions for...
Bayo Bashir Ojulari has been appointed as NNPCL's new CEO, bringing over 30 years of oil and gas experience. A former Shell and Renaissance Africa Energy executive, he has led billion-dollar projects. His leadership is expected to drive investment, operational efficiency, and energy sector...
Nigeria's NIN enrollment reaches 117 million with Lagos and Kano states leading in registrations. Despite progress, some regions like Bayelsa and Ebonyi show low registration numbers. The NIN initiative is key to enhancing security and improving access to government services.
As of February...
The Nigerian government is set to enforce the drill-or-drop rule from the Petroleum Industry Act, requiring oil companies to either start production or relinquish inactive wells. Minister Heineken Lokpobiri emphasized the need for increased investment in the sector to improve production and...
The World Bank has approved a $632 million loan for Nigeria to boost education and nutrition, despite concerns over rising debt. This follows a $500 million loan last week for economic resilience. While officials welcome the funds, critics question the country’s growing debt burden.
The World...
Nigerians borrowed N470 billion in personal loans in Q4 2024, according to the CBN. Personal loans surged by 21.27%, driving overall consumer credit growth. While personal loans dominated, retail loans declined, reflecting changing borrowing trends. Experts warn of long-term financial risks due...
Nigeria's removal of the fuel subsidy by President Bola Tinubu sparked an immediate backlash, but the Director General of NIPPS, Ayo Omotayo, defends the decision, emphasizing long-term benefits despite short-term struggles. He calls for Nigerians to adjust their spending to help drive economic...
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