By Ayomide Otitoju Fidelity Bank Plc is on track to meet the Central Bank of Nigeria’s (CBN) recapitalization requirement well ahead of the March 31, 2026, deadline, following a highly successful capital-raising initiative. The bank’s first phase of capital raising saw overwhelming investor participation, with the combined offer—comprising a Public Offer and a Rights Issue—oversubscribed…
By Ayomide Otitoju The withheld funds, covering the period from 2012 to 2024, have significantly impacted the Federation Account, the central pool of funds allocated to federal, state, and local governments. The FAAC document revealed that the NNPCL recorded transactions worth N27.28 trillion from domestic crude sales within the review period. However, only N13.524 trillion…
By Ayomide Otitoju Guaranty Trust Holding Company Plc (GTCO), a leading financial services institution renowned for its innovative approach to corporate social responsibility (CSR) and stakeholder engagement, today announced the launch of its “Waste for Gas” project to improve quality of life for households and empower women in underserved communities. This transformative initiative aims to…
By Ayomide Otitoju Ecobank Nigeria has partnered with Code 14 Labs to enhance coding education for children across Nigeria, leveraging digital tools and interactive learning to prepare young minds for the future. The collaboration will provide widespread access to coding education through Code 14 Labs’ interactive workbooks, such as the Andrew Teaches coding workbook, alongside…
By Ayomide Otitoju The United States Ambassador to Nigeria, Richard Mills, has refuted claims that the United States Agency for International Development (USAID) is funding Boko Haram or any other terrorist group. Speaking at a meeting with members of the Nigeria Governors Forum in Abuja on Wednesday night, Mills stated that there is no evidence…
By Ayomide Otitoju The Federal Government of Nigeria is seeking $81 billion in compensation from cryptocurrency exchange Binance Holdings Limited over alleged economic losses linked to its operations in the country. The government claims that Binance operated in secrecy despite having a significant economic presence in Nigeria. It further accuses the company of violating financial…
By Ayomide Otitoju President Bola Tinubu on Thursday recounted how he once confronted former military ruler, General Ibrahim Babangida, accusing him of failing to make history by annulling the June 12, 1993, presidential election. Tinubu made the revelation at a book launch in honor of Babangida, who ruled Nigeria from 1985 to 1993 and is…
By Ayomide Otitoju The Nigeria Customs Service Technical and Hangar Services Limited (NCT&HSL) held its inaugural Annual General Meeting (AGM) on Tuesday, February 18, 2025, bringing together stakeholders from the aviation, customs, and public sector logistics industries. The AGM was attended by senior officials from the Nigeria Customs Service (NCS), the Ministry of Finance Incorporated…
By Ayomide Otitoju In celebration of its 80th anniversary, Wema Bank, Nigeria’s leading innovative financial institution and the pioneer of Africa’s first fully digital bank, ALAT, is set to reward 80 customers with cash prizes in the Wema Bank 5 for 5 Promo Season 4 80th daily draw. The virtual draw will take place at…
