FG Approves 173 Loan Requests, Bans Illegal Online Banking
173 requests for permission to conduct digital loan business in the nation have been granted by the Federal Competition and Consumer Protection Commission. There are 119 complete approvals and 54 conditional approvals out of the 173. The FCCPC launched a registration campaign after loan apps began tormenting Nigerians in order to shield citizens from the […]
IATA Issues Warning to Nigeria as Airline Funds Trapped Reach $802m
According to the International Air Transport Association (IATA), a trade group for international airlines headquartered in Switzerland, the overall amount of trapped foreign airline funds in Nigeria has increased to $802 million. The Nigerian government was thus forewarned by IATA that the situation might impede air connectivity, economic development, and the growth of the nation’s […]
First Bank Rejects FG’s Forgery Accusation calls it “Spurious”
First Bank has rejected the allegation made by the Federal Government against its institution, calling the claim an effort to damage its image. The managing director of the bank and three other people were charged by the FG with forgery-related offenses, The PUNCH had previously reported. The charge sheet, marked CR/266/2023 before the High Court […]
OPS Foresees Problems as National Debt Reaches N46 Trillion
In the fourth quarter of 2022, Nigeria’s entire public debt stock increased to N46.25 trillion, or $103.11 billion, according to data released by the Debt Management Office on Thursday. The latest figure has prompted members of the organised private sector and economists to predict that tougher days are coming for Nigerians and firms. When the […]
FG Accuses First Bank MD, Others of Forgery
The managing head of First Bank of Nigeria Limited, along with three other individuals, have been charged by the federal government with forgery-related offenses. Along with the two attorneys Muftau Ande and Dibiaezue Chuks, the charge document, marked CR/266/2023, filed before the High Court of the Federal Capital Territory, Abuja, also names the manager of […]
Gross income at Zenith Bank increased by 24% to N946 billion
Zenith Bank Plc increased its gross profits by 24% from N765.6 million at the end of the 2021 fiscal year to N945.5 billion during the same time in 2022. This information was provided by the bank in a statement titled “Zenith Bank grows gross earnings by 24% to N945.5bn in 2022,” which was released on […]
Lagos to Host ‘Circular Economy Hotspot’ Event
In order to fulfill its commitment to achieving an inclusive transition to a circular economy, the Lagos State Government will hold the Circular Economy Hotspot event. The event, which has over the years brought together various stakeholder groups, aims to spread circularity as it is practiced in the host city to other parts of the […]
9PSB Promotes Financial Inclusion Among Youths
9 Payment Service Bank (9PSB), a digital payment institution, has expanded its financial literacy program to secondary schools in Lagos, Kano, and Abuja to encourage financial inclusion and close the wealth gap among the nation’s youth. In recognition of Financial Literacy Day, the bank ran a mentoring program concurrently at three distinct sites: Ajao Estate […]
Fuel Consumption Hits 80million Litres Daily, Subsidy Skyrockets
According to the most recent numbers provided by the Nigerian National Petroleum Corporation Limited, the usage of Premium Motor Spirit, often known as Petrol, has increased to nearly 80 million liters per day, increasing the subsidy on the commodity to an estimated N484 billion each month. An analysis of PMS weekly evacuation/dispatch data from March […]
Nigeria’s inflation rate under Buhari rises to 21.9% amid naira scarcity
The National Bureau of Statistics (NBS) report has shown that Nigeria’s headline inflation rate rose to 21.91% in February 2023 from 21.82% recorded in January of the same year. The NBS report obtained from its website showed that looking at the trend, the February 2023 inflation rate showed an increase of 0.09% points when compared […]