By Ayomide Otitoju In a landmark move to secure sustainable financing for global health, World Health Organization (WHO) Member States have approved a 20% increase in assessed contributions—mandatory membership dues—as they endorsed the Organization’s $4.2 billion budget for the 2026–2027 biennium. This marks the second consecutive 20% increase in membership dues, following a similar adjustment…
By Ayomide Otitoju The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has retained all key monetary policy parameters, including the benchmark interest rate, in a bid to consolidate recent economic gains and contain inflationary pressures. The decision was announced by the CBN Governor, Olayemi Cardoso, at the conclusion of the committee’s 300th meeting held…
By Ayomide Otitoju Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has reported robust financial results for the year ended December 31, 2024, at its 13th Annual General Meeting (AGM), reinforcing its status as one of Nigeria’s leading financial institutions. The Group recorded a 78.26% increase in net interest income, which rose…
By Ayomide Otitoju Despite ongoing media reports surrounding a Supreme Court ruling involving defunct FSB International Bank and Sagecom Concepts Limited, in which Fidelity Bank Plc is named as a judgment debtor, legal experts caution that the matter remains sub judice, with a court order restricting public commentary. While some outlets have raised questions about…
By Ayomide Otitoju Shareholders of Access Holdings Plc have approved a total dividend payout of ₦125.29 billion for the 2024 financial year, representing a 67% increase from the ₦74.6 billion distributed in 2023. The approval was confirmed during the company’s 3rd Annual General Meeting (AGM) held in Lagos, following a regulatory filing with the Nigerian…
By Ayomide Otitoju Preparations for the launch of the African Energy Bank (AEB) have reached the final stage, with key legal and governance frameworks now in place and capital mobilisation efforts recording promising responses, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, announced over the weekend. AEB, headquartered in Abuja, is being established…
By Ayomide Otitoju Crude oil prices edged lower on Monday, pressured by concerns over global economic stability following a U.S. credit downgrade and weaker-than-expected industrial data from China. Brent crude futures for front-month delivery fell 37 cents, or 0.57%, to $65.04 per barrel as of 7:00 a.m. WAT. U.S. West Texas Intermediate (WTI) dropped 26…
By Ayomide Otitoju The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has stated that its members currently rely solely on the Dangote Petroleum Refinery for the supply of Premium Motor Spirit (PMS), citing limited local production from the Nigerian National Petroleum Company Limited’s (NNPC) refineries. In an interview on Sunday, Olufemi Adewole, Executive…
By Ayomide Otitoju Keystone Bank Limited has officially reopened its fully refurbished branch at Plot 584, Ikorodu Road, Ketu, Lagos, in a move aimed at enhancing customer experience and strengthening its presence in one of Lagos’ key commercial corridors. The reopening ceremony, held on Friday, drew a notable crowd including business owners, market leaders, community…
