By Ayomide Otitoju The Eko Electricity Distribution Company (EKEDC) and the Ibadan Electricity Distribution Company (IBEDC) have announced power outages in several communities following flooding caused by heavy rainfall and transmission network faults. In a statement issued on Wednesday, EKEDC said electricity supply to parts of its network had been reduced after outages on the…
By Ayomide Otitoju The Nigerian Meteorological Agency (NiMet) has forecast widespread rainfall and thunderstorms across most parts of the country on Thursday, warning of possible flooding, strong winds and reduced visibility in several states. In its latest weather outlook, the agency said the wet conditions would affect states across the northern, North Central and southern…
The International Monetary Fund (IMF) has lowered its global economic growth forecast for 2026 to 3.0 per cent, citing the economic impact of the ongoing conflict in the Middle East despite continued momentum in artificial intelligence-driven investment. In its latest World Economic Outlook update released on Wednesday, the IMF reduced its growth projection from the…
By Ayomide Otitoju In an article titled “Are We Entering a Fully Digital Financial Economy?”, Oke said every major financial innovation, from paper currency to online banking and blockchain technology, has been designed to solve the challenge of enabling trust between people who have never met. According to him, the current financial revolution is not simply…
By Ayomide Otitoju The Central Bank of Nigeria (CBN) has clarified that both the standard ₦100 banknote and the commemorative ₦100 note remain legal tender and must be accepted for all transactions across the country. The clarification followed reports that some individuals, businesses and other stakeholders have been rejecting the standard ₦100 note over concerns…
By Ayomide Otitoju UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group, has partnered with Slum2School Africa to provide financial literacy education for underserved children, equipping them with essential money management skills from an early age. The initiative featured a hands-on financial literacy workshop centred on the UBA Money Explorers Book,…
By Ayomide Otitoju President Bola Tinubu and Lagos State Governor Babajide Sanwo-Olu have called on Civil Society Organisations (CSOs) and Community-Based Organisations (CBOs) to embrace patriotism, accountability and stronger partnerships in advancing Nigeria’s sustainable development. The leaders made the call at the National Summit of Civil Society Organisations and Community-Based Organisations held in Lagos on…
By Ayomide Otitoju Fidelity Bank Plc has joined the $3 billion Contractor Finance Facility launched by Shell Nigeria Exploration and Production Company Limited (SNEPCo) in partnership with nine leading banks to boost financing for indigenous oil and gas contractors. The facility, unveiled in Lagos, is designed to provide credit support in both naira and…
The Rural Electrification Agency (REA) has signed a landmark Memorandum of Understanding (MoU) with the Jigawa State Government, the Nigerian Commodity Exchange (NCX), and Astound Power Limited to deliver 7 megawatts (MW) of electricity to support agro-industrial development across seven states. According to a statement by the REA, the agreement was signed during the Jigawa…
