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…Confirms Kaura’s board appointment The Senate on Wednesday endorsed N105,140,926,744.08 as the 2025 budget of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC). The allocation aligns with the Commission’s funding framework provided under the Revenue Mobilisation, Allocation and Fiscal Commission Act, 2025, and the 0.5 per cent of non-oil Federation Revenue sanctioned by the National ...
The Standards Organisation of Nigeria (SON) has called for greater collaboration among stakeholders to promote the competitiveness and quality of Made-in-Nigeria products. The agency made the call during a one-day media capacity-building workshop held on Tuesday in Lagos. Speaking at the event, SON Director-General, Dr. Ifeanyi Okeke, underscored the pivotal role of the media in ...
Former Group Managing Director of FirstBank Nigeria, Dr Olabisi Onasanya, has said he is now vindicated after the Federal High Court in Lagos struck out the controversial loan-related case involving his name. Justice Chukwujekwu Aneke of the Federal High Court, Lagos on Wednesday, July 23, 2025 struck out the case after the anti-graft agency, the ...
The Federal Government has introduced a human capital development programme designed to fast-track inclusive economic growth through targeted investments in Nigerians. The initiative was presented during the maiden meeting of the National Steering Committee for the Human Capital Opportunities for Prosperity and Equity (HOPE) programme, a major World Bank-supported intervention. The committee is chaired by ...
By Matthew Denis The Director General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, has said that formalising commodities and warehouse receipts into tradeable securities could unlock economic gains of up to $500 billion for Nigeria. Dr Agama made this assertion while addressing participants at a national workshop organised by the Chartered Institute ...
Governor Babajide Sanwo-Olu on Tuesday unveiled the Lagos State Women Economic Empowerment (WEE) Policy Roadmap, reaffirming his administration’s commitment to dismantling the systemic barriers preventing women from realising their full potential. The WEE Policy Roadmap, launched at Muson Centre in Lagos, was developed by the Ministry of Women Affairs and Poverty Alleviation as a strategic ...
Minister of Finance and Coordinating Minister of the Economy Wale Edun has stated that Nigeria must achieve at least seven per cent annual economic growth to significantly improve the living standards of its poorest and most vulnerable citizens. Speaking at a high-level policy dialogue on local government fiscal autonomy in Abuja on Tuesday, Edun said ...
By Seun Ibiyemi The Nigeria Civil Aviation Authority (NCAA) has instructed all international airlines operating into the country to fully implement the $10,000 currency declaration requirement for passengers arriving in Nigeria. Travellers carrying cash or Bearer Negotiable Instruments (BNI) above $10,000 must declare them on arrival. Airlines are mandated to make onboard announcements and distribute ...
...As external reserves hit $40.1bn ...Eight banks meet recapitalisation requirements ...Equities maintain rally as MPC holds rates By Seun Ibiyemi and Grateful Ogunjebe The Central Bank of Nigeria (CBN) kept the Monetary Policy Rate (MPR) unchanged at 27.5 per cent on Tuesday, signalling continued caution as inflation slows for the third consecutive month while underlying ...
The Natural Oil & Gas Suppliers Association of Nigeria (NOGASA) has raised strong objections to Dangote Refinery’s plan to supply petroleum products directly to end users, warning that the move could create a monopoly and lead to widespread job losses across the oil and gas value chain. NOGASA President, Benneth Korie, expressed concern that the ...
Nigeria’s pension industry recorded significant growth in May 2025, with Assets Under Management (AUM) rising by N452 billion to reach N24.12 trillion, driven by steady gains across major asset classes compared to April. Retirement Savings Account (RSA) registration also rose by 44,938 during the month, bringing the total number of enrollees to 10,763,593, up from ...
The Nigerians in Diaspora Commission (NiDCOM) has teamed up with First Bank Plc to roll out tailored diaspora banking services for Nigerians living in the United Kingdom. NiDCOM announced the partnership in a statement by its spokesperson, Abdur-Rahman Balogun, on Monday in Abuja. Balogun explained that the collaboration was unveiled during the Nigeria UK Festival ...
The Corporate Affairs Commission (CAC) has postponed the enforcement of new charges for downloading approved documents on its upgraded Company Registration Portal after technical hitches and complaints from users. Originally slated to take effect on August 1, the enforcement will now begin on September 1, 2025. Under the new directive, penalties will apply to users ...
By Seun Ibiyemi No fewer than 500 journalists from within and outside Nigeria have undergone training in emerging digital journalism skills, courtesy of Polaris Bank. Management of the bank said the gesture was aimed at equipping the journalists with the skills and knowledge needed to adapt to evolving media trends. Held in Victoria Island, Lagos, ...
The Central Bank of Nigeria’s (CBN) survey has revealed that 65.8 percent of Nigerians want the monetary authority to cut interest rates. The finding comes just days before the Monetary Policy Committee (MPC) convenes for its July meeting to decide on the future direction of interest rates. The CBN’s Inflation Expectations Survey, published on its ...
By Seun Ibiyemi Nigeria’s total public debt could rise to N160.6 trillion by the end of 2025, raising new concerns about the country’s deepening fiscal vulnerabilities. This projection is contained in the latest H2 2025 economic outlook report released by CSL Stockbrokers Limited, a subsidiary of FCMB Group Plc. According to the report, the Federal ...
By Grateful Ogunjebe The Corporate Affairs Commission (CAC) has defended its newly deployed Artificial Intelligence-powered registration platform, stating that it remains efficient, cost-effective and in line with global standards, despite criticisms raised by some legal practitioners. Responding to a media report titled “Lawyers Decry CAC’s AI Portal, Cite Challenges,” the Commission, in a statement issued ...
Zenith Bank Plc has been recognised as “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025, cementing its status as the country’s standout financial institution and taking home the most prestigious national honour. The award, presented on Thursday, 17 July 2025, at The Peninsula in London, underscores the bank’s commitment to providing exceptional banking ...
Zenith Bank Plc today announced it has been named "Nigeria’s Best Bank" at the prestigious Euromoney Awards for Excellence 2025. The highly coveted country award was presented to the bank at a ceremony held at The Peninsula, London, recognizing its outstanding performance, innovative services, and significant contributions to the Nigerian financial landscape. The Euromoney Awards ...
Odu’a Investment Company Limited (OICL), the investment holding company jointly owned by the six South-West States of Nigeria, is pleased to announce that the leading credit rating agency, Agusto & Co has upgraded its corporate rating to ‘Aa-’ with a Stable Outlook in its recently released 2025 Corporate Rating Report. The upgrade from the previous ...
By Grateful Ogunjebe With the Central Bank of Nigeria’s (CBN) recapitalisation deadline drawing closer, Nigerian banks are intensifying their capital-raising efforts through a mix of strategic offerings, rights issues, and international listings to meet new regulatory requirements and reinforce their capital strength. Sterling Financial Holdings Company has unveiled plans to raise $400 million under a ...
By Seun Ibiyemi The Nigerian Maritime Administration and Safety Agency (NIMASA) has sealed off ShellPlux and TMDK Terminals, both located in the Ijegun-Egba area of Lagos, over their persistent failure to comply with the International Ship and Port Facility Security (ISPS) Code. As the Designated Authority for enforcing the ISPS Code in Nigeria, NIMASA took ...
By Olakunle Oke The Nigerian Communications Commission (NCC) has introduced a pioneering regulatory model designed to spur innovation and expand access across the country’s rapidly advancing telecommunications sector. Speaking at a stakeholder engagement forum on Wednesday, the Executive Vice Chairman and Chief Executive Officer of the NCC, Dr Aminu Maida, presented the new General Authorisation ...
