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The African Development Bank Group (AfDB) facilitated $2.2 billion in capital mobilization for its transformative Special Agro-Industrial Processing Zones Nigeria Phase II project during the Hu Hu Africa Investment Forum. At a packed presidential boardroom on Wednesday 4th December, governors from Nigerian States, leaders from multilateral development organizations, the diplomatic corps as well as private ...
Airtel Nigeria and Google have unveiled a new partnership that will see the telecom company integrate YouTube, into Airtel’s Smart Router. The partnership which was unveiled at an agreement signing ceremony at the telecom giant’s Lagos headquarters aims to transform home entertainment across Nigeria. As part of this innovative update, the Airtel Smart Router further ...
Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced the launch of its “Unwrapping Smiles” campaign, a festive initiative designed to bring hope to individuals, families, and communities this holiday season. Running from December 10 to December 31, 2024, the campaign will feature community-focused outreaches, including Christmas gifts and exciting rewards to put smiles ...
.Increased oil production, other indices to boost revenue — Edun tells Reps ..By Seun Ibiyemi The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the government plans to borrow N9.3 trillion and allocate N2 trillion for debt servicing in the 2025 fiscal year, reflecting ongoing efforts to stabilize the ...
The African Development Bank (AfDB) has offered strategic recommendations for Nigeria and other African nations to address escalating debt burdens and foreign exchange challenges. These insights were shared by the Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, during an interview with newsmen. Addressing Nigeria’s debt profile, Urama noted that debt, when ...
The African Development Bank has outlined key strategies for Nigeria and other African nations to address rising debt burdens and foreign exchange difficulties. These insights were shared by the Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, in a recent interview with the News Agency of Nigeria. Urama discussed Nigeria’s debt profile, ...
Nigeria reported its lowest capital importation inflows this year in the third quarter(Q3) of 2024, falling to $1.25 billion, according to the National Bureau of Statistics (NBS) data released on Saturday. The Nigeria capital importation report for Q3 of 2024 fell by 51.90 percent from $2.6 billion in the second quarter (Q2) of 2024. The ...
…backs Tinubu's tax reform bill By Ismail Azeez The Chairman of Odu'a Investment Company Limited, Otunba Bimbo Ashiru, has said there is need for Nigerians to be open to reforms and innovation especially in the area of tax reform. Ashiru disclosed this at the NewsDirect 14th Anniversary and Awards ceremony held in Lagos yesterday. He ...
The federal government has announced the establishment of an industrial revolution work group aimed at revitalising the manufacturing sector, creating more jobs, and driving sustainable economic growth. The Minister of State for Industry, Trade and Investment, made this announcement during an interactive session with members of the Manufacturers Association of Nigeria (MAN) and other industrial ...
The Minister of Aviation and Aerospace Development, Festus Keyamo, has directed the dismantling of joint inspection tables operated by multiple security agencies in a bid to streamline the passenger processing system. Going forward, inspections will prioritise intelligence-based searches, advanced scanning technology, and passenger profiling to improve efficiency and precision. Furthermore, new observation zones equipped with ...
Nigerian bank customers paid a total of N133.89 billion as electronic money transfer (EMTL) levy to the government between January and August this year. This was revealed in the 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), which highlights the government’s revenue for the period. Banks deduct the N50 EMTL levy on behalf ...
The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) have reviewed the agreement on the Nigerian Content Community Contractors Financing Scheme. The two government organisations signed the reviewed agreement at the ongoing 13th Practical Nigerian Content (PNC) Conference and Exhibition holding at the NCDMB Conference Centre in Yenagoa, Bayelsa State. ...
By Seun Ibiyemi The Nigerian Senate has suspended action on the tax reform bills and constituted an ad-hoc committee that would engage with the federal government to resolve the contentious areas in the bills before further legislative action. The deputy Senate president, Barau Jibrin, who presided over the plenary session on Wednesday, announced that the ...
Zenith Bank Plc has emerged as ‘Bank of the Year, Nigeria’ in The Banker’s Bank of the Year Awards 2024. The award, which was announced by The Banker Magazine, Financial Times Group, United Kingdom, during the awards ceremony held in London on December 4, 2024, is in recognition of the bank’s strong management, sound business ...
United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Monday, held its annual Garden Light-Up ceremony to kick-start the festive season. The dazzling ceremony, held at the United Bank for Africa (UBA) head office in Lagos, brought together staff, customers, and well-wishers in a heart-warming display of joy, gratitude, and ...
CIG Motors and First City Monument Bank (FCMB) are offering up to N70 million car loan deals to Nigerians as part of a new partnership signed between the two organisations. The partnership aims to make vehicle ownership more accessible for individuals and corporate entities through flexible and affordable financing solutions. The partnership offers customers access ...
…As total assets hit N21.9trn Nigeria’s pension assets grew by N541 billion month-on-month reaching N21.92 trillion at the end of October 2024. This growth highlights the continued resilience and stability of the nation’s pension sector, underscoring its importance as a key driver in long-term financial security for millions of Nigerians. The National Pension Commission (PenCom) ...
The Chairman, Presidential Committee on Fiscal Policy and Tax reforms, Mr Taiwo Oyedele has called on Nigerians to support the tax reforms bills to build a better Nigeria. Oyedele in a post on his X handle described the bills as the "People's tax bills". The tax reform bills before the National Assembly include the Nigeria ...
The National Pension Commission has lifted its ban on Licensed Pension Fund Administrators investing in commercial papers managed by non-bank capital market operators serving as Issuing and Paying Agents. This follows steps taken by the Securities and Exchange Commission to resolve regulatory concerns regarding these operators’ roles in such transactions, paving the way for increased ...
By Sodiq Adelakun The state government unveiled the Diaspora Real Estate Desk on Monday, an effort to provide seamless, transparent, and reliable real estate services to the Nigerian diaspora community. Governor Babajide Sanwo-Olu, who spoke during the announcement, emphasised the importance of supporting Nigerians abroad by ensuring they have access to trustworthy real estate transactions ...
The Enugu State Government and Wande Nexus, an Austrian firm, has formalised an agreement to implement the Sustainable Last Mile Connectivity and Advanced Metering Infrastructure (AMI) Project in Enugu. With the signing, which took place on Monday at Government House, Enugu, in the presence of the Austrian Ambassador to Nigeria, Thomas Schlesinger, WANDE Nexus is ...
By Seun Ibiyemi The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has called for the integration of Artificial Intelligence (AI) technologies to strengthen fraud detection systems in Nigerian financial institutions. Speaking at the Risk Management Roundtable organized by the Financial Institutions Training Centre (FITC), Mr. Hassan ...
The Federal Competition and Consumer Protection Commission (FCCPC) said it has launched a major inquiry into widespread consumer complaints against leading players in the banking, telecommunications, and aviation sectors comprising GTBank, MTN, and Air Peace. The Commission disclosed this in a statement signed by its Director of Corporate Affairs, Ondaje Ijagwu, issued on Sunday. According ...
