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The Central Bank of Nigeria (CBN) has issued fresh directives aimed at enhancing consistency, transparency, and responsible credit management in the country’s banking sector. In a circular titled “Additional Guide to the Provision of Information on Credit Printouts” dated 13 June 2025, and signed by Olubukola A. Akinwunmi, Director of Banking Supervision, the CBN set ...
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has expressed strong confidence that the newly signed Nigeria Tax Act (NTA) 2025 will play a pivotal role in attracting foreign direct investment and generating employment across multiple sectors of the economy. In a statement issued on Tuesday, IMPI Chairman Dr Omoniyi Akinsiju described the ...
Dangote Industries Limited has announced plans for its 650,000-barrel-per-day refinery, the largest in Africa, to source its entire crude oil supply from within Nigeria by the close of 2025. This shift is poised to reshape the nation’s energy landscape and significantly reduce dependence on foreign crude. The development was confirmed by Devakumar Edwin, Vice President ...
By Seun Ibiyemi The House of Representatives Committee overseeing the Nigeria Maritime Safety, Education and Administration (NIMASA) has approved the agency’s proposed revenue target of ₦774.77 billion for the 2025 fiscal year, despite raising concerns over its achievability. At the budget defence session held on Monday, the committee’s chairperson, Hon. Khadijat Abba-Ibrahim, queried the agency’s ...
By Seun Ibiyemi Nigeria’s telecommunications sector is under growing pressure from skyrocketing diesel prices, with each major operator reportedly spending between ₦5 billion and ₦10 billion monthly to fuel thousands of base stations across the country. Speaking with Nigerian NewsDirect, Former President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr Tony Izuagbe Emoekpere, ...
President Bola Tinubu has reiterated his administration’s commitment to curbing inflation and ensuring economic stability through disciplined public spending, enhanced transparency, and active citizen participation. Speaking at the opening of the National Conference on Fiscal Governance, Transparency and Accountability, organised by the National Assembly Public Accounts Committee (PAC) in Abuja on Monday, Tinubu, represented by ...
The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled the Nigerian Content Fund Clearance Certificate (NCFCC), now a mandatory compliance requirement for all contractors and operators in Nigeria’s oil and gas sector. The certificate was launched during a Stakeholders’ Sensitisation Workshop in Lagos, alongside an upgraded Nigerian Content Development Fund (NCDF) payment portal and ...
The Nigerian Communications Commission (NCC) is ramping up efforts to promote renewable energy use, particularly solar power, across the nation’s telecoms industry, with the goal of cutting diesel dependency and slashing operational costs. Telecom operators in Nigeria reportedly consume no less than 40 million litres of diesel each month to power network infrastructure, amounting to ...
By Seun Ibiyemi The Federal Government is in advanced discussions with private investors to raise nearly $60 million for the electrification of Onne Port in Rivers State, setting the stage for Nigeria’s first green port. Vice President Kashim Shettima disclosed this at the “Decarbonising Infrastructure in Nigeria Summit” held at the Presidential Villa in ...
Gov. Sheriff Oborevwori of Delta has lauded the Asaba Chamber of Commerce, Industry, Mines and Agriculture (ASACCIMA), for the establishment of an International Arbitration Commission Centre in Asaba.Oborevwori made the commendation while inaugurating the Centre in Asaba on Friday.Represented by the State Commissioner for Trade and Investment, Mr Samuel Oligida, the governor noted that the ...
The Corporate Affairs Commission (CAC) has introduced a new artificial intelligence-powered registration portal, marking a significant advancement in Nigeria’s digital public administration. Unveiled during the 2025 Stakeholders Forum in Port Harcourt, the new portal represents a complete overhaul of the Commission’s Company Registration Portal (CRP), designed to streamline services and simplify business onboarding processes. Speaking ...
..Says bank debtors damaged Nigerian economy …Foreign asset tracers to locate obligors hidden assets …Arik Air returning to profitability By Seun Ibiyemi The Asset Management Corporation of Nigeria (AMCON) has confirmed the sale of the Ibadan Electricity Distribution Company (IBEDC) for ₦100 billion, nearly twice the amount initially proposed during the transaction’s early stages. This ...
By Matthew Denis Chevron Nigeria’s Chairman and Managing Director, Jim Swartz, has called for a realistic, balanced approach to the future of energy in Nigeria, stressing the importance of affordability, security, and cleaner solutions in meeting rising demand. Swartz shared this view during a panel session on “Pragmatically Achieving Energy Abundance” at the 2025 Nigeria ...
Embroidery expert, Chinese firms partner to boost Nigeria’s fashion sector A leading embroidery expert and Chief Executive Officer of Embroidery Chief, Mr Lukman Abdulsalam, has unveiled a national initiative to transform Nigeria’s fashion industry through skills training and access to modern embroidery technology. The initiative, unveiled in collaboration with two Chinese firms, Beijing Dahao and ...
The Ekiti State Government, is stepping up efforts to support small businesses and grow the local economy through targeted financial interventions. The Commissioner for Finance and Economic Development, Mr Akintunde Oyebode, who made the assertion revealed that the government is finalizing plans to launch a ₦1 billion Cooperative Fund aimed at providing affordable financing to ...
By Seun Ibiyemi The Transportation Correspondents Association of Nigeria (TCAN) is set to hold its 2025 Transportation Summit, an annual event that provides a platform for stakeholders’ interaction on pertinent issues affecting the nations transportation sector. In a statement released by the TCAN Transport Summit Organising Committee, this would be the second edition of the ...
The House of Representatives has called on the federal government to immediately settle Nigeria’s outstanding financial obligations totalling €.1.1 million to the Organisation of African, Caribbean and Pacific States-European Union (OACPS-EU) in order to avert imminent embarrassment and sanctions. This follows the adoption of a motion of urgent national importance moved by Isiaka Ibrahim, the ...
By Seun Ibiyemi Telecommunication operators across Nigeria have temporarily suspended all SIM card registrations, replacements, and related services due to a nationwide disruption caused by an ongoing platform migration. The Association of Licensed Telecommunications Operators of Nigeria (ALTON), which represents the country’s mobile network operators (MNOs), disclosed on Tuesday that the disruption stems from a ...
Ecobank Nigeria has unveiled a new flagship branch exclusively dedicated to Premier Banking clients, reinforcing its commitment to delivering bespoke services to high-net-worth individuals (HNWIs). Located at No. 25 Akin Adesola Street in Victoria Island, Lagos, the new branch is designed to offer top-tier personalised banking services in a refined setting. Clients will enjoy access ...
Interswitch, a leading integrated payments and digital commerce company, has unveiled its latest Masterbrand television commercial (TVC), launched as part of a wider marketing campaign grounded in its enduring ‘Never Stop’ philosophy. The new TVC, presented during an official launch event, serves as the centrepiece of a campaign that seeks to reaffirm the company’s role ...
...Programme to begin next academic year...Joint Nigeria–OECS committee to finalise modalities President Bola Ahmed Tinubu has announced the introduction of a scholarship scheme for students from the Organisation of Eastern Caribbean States (OECS) to pursue studies at Nigerian universities, with the first cohort scheduled to begin in the next academic session. This was disclosed in ...
TAJBank Limited, one of Nigeria’s leading non-interest financial institutions, has continued its strong performance streak with the announcement of a 20 kobo per share dividend to shareholders for the 2024 financial year. In a statement issued on Monday in Abuja, the bank’s Founder and Chief Executive Officer, Hamid Joda, confirmed the dividend payout, describing it ...
The Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, CON, has formally inaugurated the newly reconstituted Governing Board of the Nigerian Ports Authority (NPA), reinforcing the Federal Government’s commitment to revitalising the maritime sector as a cornerstone of economic development. The inauguration ceremony, held on Monday at the Ministry’s Conference Room in Abuja, ...
