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NIBSS seeks court order compelling 19 banks to freeze 176 accounts linked to N14bn unauthorised transfers
Following a payment systems malfunction suffered in 2024 resulting into a N14 billion loss, the Nigeria Inter-Bank Settlement System (NIBSS) Plc has approached a Federal High Court in Lagos, seeking an order compelling affected banks to freeze accounts allegedly linked to…
FDI drops by 80%, as portfolio investment drives increased capital inflow — CBN
Central Bank of Nigeria (CBN) Economic Report, in its latest release, has revealed that foreign direct investment (FDI) inflows into the country dropped by 80 per cent in January, this year. The regulatory bank attributed the drop to foreign investors increasingly…
Amid liability fears, PTAD assures new pension harmonisation scheme to boost retirees’ income
Pension Transitional Arrangement Directorate (PTAD) has assured that its implementation of the pension harmonisation for Defined Benefit Scheme (DBS) pensioners, which took effect in May 2026, will lift incomes for many retirees, just as it expressed fears that the programme may…
Nigeria’s $5bn NLNG Train 7 nears pre-commissioning stage — Official
Nigeria Liquefied Natural Gas (NLNG) has announced that the country’s $5 billion LNG Train 7 project will soon be put into operation having reached 92 per cent completion stage. The NLNG also added that the development marks a major…
Labour unions reject World Bank, AfDB’s ‘Mission 300’ electricity initiative over debt concerns
Labour unions in Africa, including Nigeria, have jointly rejected the African Development Bank (AfDB) and World Bank-assisted ‘Mission 300’ electricity access programme, as they argued that the initiative further places ‘unsustainable debt burdens on already struggling governments.’ The labour unions while…
