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FG’s N40bn debt, others crippling operations of Ibom Power Company — Gov. Eno
Federal Government’s N40 billion debt owed to the Ibom Power Company (IPC) is crippling operations of the state-owned generating company (GenCo), according to Governor Uno Eno. The Akwa State governor, Eno who disclosed this, weekend, during a media briefing in…
AIICO drives community health development with malaria prevention outreach in Ibadan communities
AIICO Insurance Plc has reaffirmed its commitment to improving public health outcomes and advancing sustainable community development through its support for a large-scale malaria prevention outreach in Ibadan, Oyo State, in commemoration of World Malaria Day 2026. The initiative, implemented in…
Banks’ lending to MDAs hit N39.60trn in 1yr, as credit to private sector drops by 15% — CBN
Central Bank of Nigeria (CBN) data for April has disclosed that while Nigerian banks raised credit to the public sector of the economy, the same facility to the private sector dropped, in one year period under review. According to the…
ALTON welcomes FCCPC’s suspension of DEON regulation
Association of Licensed Telecommunications Operators of Nigeria (ALTON) has welcomed the decision by the Federal Competition and Consumer Protection Commission (FCCPC) to suspend enforcement of the controversial Digital, Electronic, Online, or Non-traditional Consumer Lending (DEON) regulations against mobile network operators…
EU slams €200m fine on Temu for sale of unsafe, illegal products
European Union (EU), through its Commission, has imposed a €200m fine on Chinese-owned online retail outlet, Temu over illegal products, including; dangerous baby toys and faulty chargers offered for sale on its platform. According to the EU’s European Commission, Temu…
Adesina appointed chairman, Botswana’s Diamonds for Development Fund, as Ooni hails Ex-AfDB boss
Former president of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has been appointed as the Chairman of the Botswana/De Beers Diamonds for Development Fund (DDF). In a statement, Monday, June 1, the Botswana government and De Beers Group, the…
NNPCL reports revenue growth of N4.97tn in April
State-owned energy company, Nigerian National Petroleum Company Limited (NNPCL) has declared a significant increase in revenue for April 2026, generating N4.971 trillion, according to the latest monthly operational report of the firm released, Monday. According to NNPCL the figure represents a…
CBN launches PSV 2028 to deepen financial inclusion, strengthen digital econony
Central Bank of Nigeria (CBN) has formally unveiled the Payments System Vision 2028 (PSV 2028) to strengthen the country’s digital economy and trade. Speaking in Abuja, Monday, at the unveiling, the CBN Governor, Olayemi Cardoso, said PSV 2028 aims to deepen…
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…
