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Benue Commissioner for Finance, Mr Michael Oglegba, has said that the state is targeting N3 billion monthly as Internal Generated Revenue (IGR) in 2025. Oglegba, who stated this in an interview with the newsmen in Makurdi, said that the state IGR has shored up since Gov. Hyacinth Alia assumed office. The commissioner said that he ...
The Central Bank of Nigeria (CBN) has granted approval for Nigerian pilgrims to use cash during the 2025 Hajj in Makkah, reversing its earlier decision to mandate debit card-only transactions for Basic Travel Allowance (BTA). This reversal comes after Vice President Kashim Shettima made a formal appeal to President Bola Ahmed Tinubu on behalf of ...
Transcorp Power Plc, formerly known as Transcorp Power Limited, has posted an impressive first-quarter result for 2025, with pre-tax profits climbing to ¦ 43.283 billion. This marks a year-on-year increase of 50.43 per cent compared to the ¦ 28.772 billion reported in the first quarter of 2024. Net profit also showed remarkable growth, rising by ...
By Seun Ibiyemi United Bank for Africa (UBA) reported post-tax profit of N189 billion in the first three months of 2025, maintaining a steady rise for the past six years. The pan-African lender saw interest income rise to N599.8 billion, a 36 percent increase from N440.7 billion recorded at the same time in 2024, as ...
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has equipped several Nano, Micro, Small and Medium Enterprises (NMSMEs) in Lagos State with cutting-edge skills in packaging and branding. SMEDAN’s Chief Executive Officer/ Director General, Mr Charles Odii, on Wednesday in Lagos, said the ongoing training would enable NMSMEs to unlock the vast opportunities ...
Nigeria’s broad money supply (M3) surged by 24 percent year-on-year to reach an unprecedented N114.2 trillion in March 2025, defying the Central Bank of Nigeria (CBN)’s ongoing efforts to curb inflation through a strict monetary policy regime. The M3 measure, which offers the most extensive overview of money circulating within the economy, encompasses not only ...
Fidelity Bank Plc, one of Nigeria’s leading financial institutions, has awarded cash prizes to 30 customers in the second and third monthly draws of its ongoing Get Alert in Millions Season 6 (GAIM 6) promotion, including winners from a special International Women’s Day Draw. The prize presentation, held recently at the Fidelity SME Hub in ...
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, on Friday, engaged in a thought-provoking conversation with Nobel Prize-winning economist, Dr. James Robinson, the Reverend Richard L. Pearson Professor at the University of Chicago and Director of the Pearson Institute for the Study and Resolution of Global Conflicts in the United States. According to ...
By Seun Ibiyemi Union Bank of Nigeria has reaffirmed its backing for locally driven enterprise by sponsoring the 2025 RISE Business Challenge, hosted at the University of Lagos (UNILAG), Akoka. According to a statement issued by the bank on Friday, the sponsorship was part of its Made In Naija initiative and took place during the ...
By Seun Ibiyemi Nigeria’s economy recorded a downturn in net foreign exchange (forex) inflows in January 2025, driven mainly by a marked reduction in contributions from the Central Bank of Nigeria (CBN), according to the apex bank’s January Economic Report published on 17 April. The report reveals that net forex inflows declined to $4.79 billion ...
First Holdco Plc has generated N663.49 billion profit after tax for the year ended Dec. 31, 2024. This is a 115.12 per cent increase from N308.43 billion recorded in 2023. The group disclosed this through a corporate disclosure released through the Nigerian Exchange Ltd. The company also reported a pre-tax profit of N781.88 billion, representing ...
By Seun Ibiyemi Fidelity Bank PLC, one of Nigeria’s leading tier-one financial institutions, has been recognised as “Nigeria’s Best Private Bank” at the 2025 edition of the Euromoney Awards for Excellence. The award was formally presented at a ceremony held recently at The Savoy in London. Widely regarded as a benchmark of quality in the ...
The Chartered Institute of Bankers of Nigeria (CIBN) has entered into a strategic collaboration with James Hope University and LIMBSimple Company Ltd. to drive inclusive growth through enterprise development within the country’s banking and finance ecosystem. The partnership was officially cemented on Thursday with the signing of a Memorandum of Understanding (MoU) at the Bankers ...
Stanbic IBTC Bank has launched a nationwide campaign titled “There is Possible, Then There is More,” aimed at motivating Nigerian business leaders to break beyond perceived limits and embrace exponential growth through strategic collaboration. The campaign kicked off with a striking teaser rolled out across digital platforms, out-of-home advertising, and social media. The cryptic message—”An ...
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has rejected recent claims made by Senator Mohammed Ali Ndume, asserting that the Tinubu administration has not only handled Nigeria’s public debt with prudence but also reduced the country’s external debt by $14 billion within a single year. Responding to Senator Ndume’s televised remarks—which questioned ...
...Proposes N1.76 dividend Central Securities Clearing System (CSCS) Plc has reported a solid financial performance for the year ended 31 December 2024, delivering double-digit growth in both revenue and profit despite prevailing economic challenges. According to the firm’s audited consolidated and separate financial statements, total revenue climbed by 37 percent to N26.1 billion, compared to ...
Keystone Bank Limited has been named Best in Customer Experience at the 14th West Africa Innovation Awards, held recently in Lagos—an accolade that affirms its growing reputation for service excellence and innovation within the banking sector. The annual awards ceremony, which celebrates exceptional brands and professionals across the West African region, spotlights organisations setting new ...
Dozens of entrepreneurs across Nigeria’s southwest are attributing new-found confidence and business growth strategies to a recent training initiative organised by First City Monument Bank (FCMB). The programme, Business Empowerment, Sustainability and Training (BEST) Masterclass, wrapped up its latest round in March 2025, offering hands-on training to business owners in Ogun, Oyo, Osun, Ondo, and ...
By Seun Ibiyemi As Nigeria accelerates its pursuit of a $1 trillion economy by 2030, the Central Bank of Nigeria (CBN) has reaffirmed the pivotal role of the banking industry in driving this transformation. Speaking at a seminar for finance correspondents and business editors in Abuja on Monday, the CBN’s Director of Banking Supervision, Olubukola ...
By Seun Ibiyemi The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has called on the Central Bank of Nigeria (CBN) to step up its commitment to shielding indigenous enterprises and the wider industrial sector from looming collapse. This appeal was made by the ECCIMA President, Chief Odeiga Jideonwo, during the CBN Special Day ...
President Bola Ahmed Tinubu on Thursday commissioned the Afreximbank African Trade Centre (AATC) in Abuja, marking a major milestone in Nigeria’s efforts to position itself as a continental hub for trade and investment. The president was represented at the event by the Secretary to the Government of the Federation (SGF), Senator George Akume. The Centre, ...
The removal of bank transfer fees is not a mere marketing tactic, according to Abubakar Suleiman, the Chief Executive Officer of Sterling Bank. In a bold move that reshapes the landscape of the Nigerian banking sector, Sterling Bank has eliminated transfer fees on its digital banking platform, OneBank. This decision makes Sterling the first major ...
By Seun Ibiyemi The Nigeria Deposit Insurance Corporation (NDIC) has said it would begin the payment of the first tranche of liquidation dividends to depositors of Heritage Bank from April. It would be recalled that Heritage Bank operating licence was revoked by the Central Bank of Nigeria (CBN) on June 3, 2024. The Managing Director ...
