By Ayomide Otitoju The Central Bank of Nigeria (CBN) has debunked a widely circulated message on WhatsApp falsely claiming that it is introducing N5,000 and N10,000 banknotes as part of a cash transaction reform. The misleading circular, purportedly from the apex bank, read: “The Central Bank of Nigeria (CBN) has officially announced the introduction of…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol to N925 per litre in Lagos and N950 per litre in Abuja, following initial hesitation. Effective April 2, 2025, the new pricing represents a N65 increase from the previous N860 per litre in Lagos and a N70 increase…
By Ayomide Otitoju The World Bank has approved $1.08 billion in concessional financing to support education, nutrition, and economic resilience in Nigeria. The approved projects include $500 million in additional financing for the Community Action for Resilience and Economic Stimulus (NG-CARES) Programme, $80 million for the Accelerating Nutrition Results in Nigeria (ANRIN 2.0) initiative, and…
By Ayomide Otitoju MTN Nigeria Communications Plc has vested 1,303,029 shares in 33 of its executives, according to multiple corporate disclosures filed with the Nigerian Exchange Limited. The vesting of shares took place in Lagos, primarily between March 26 and 28, 2025. In its audited financial report for 2024, MTN Nigeria stated, “During the financial…
By Ayomide Otitoju The 2025 Lagos Tourism NBC Trade Fair is set to become Nigeria’s biggest trade and commerce event, with an anticipated ₦5 billion in sales, over 220 vendors, and an expected attendance of 75,000 visitors over three days. This second edition, a partnership between Naija Brand Chick and the Lagos State Ministry of…
By Ayomide Otitoju Sterling Bank has announced the removal of transfer fees for all local online transactions, becoming the first major Nigerian bank to implement a zero-transfer-fee policy. The initiative, effective immediately, is expected to provide significant relief to individuals and small businesses that conduct frequent transactions. In a statement, the bank reaffirmed its commitment…
By Ayomide Otitoju The management and staff of NNPC Limited have officially welcomed Bayo Ojulari as the new Group Chief Executive Officer (GCEO) following his appointment by President Bola Tinubu. Ojulari replaces Mele Kyari, who previously held the position. In a statement released on Wednesday by NNPC’s spokesperson, Olufemi Soneye, the company expressed gratitude to…
By Ayomide Otitoju The Lagos State Government, in collaboration with EnterpriseNGR under the Lagos International Financial Centre (LIFC) platform, has urged both local and foreign investors to support the establishment of an International Financial Centre in Lagos to bolster economic and financial growth. Speaking at EnterpriseNGR’s first Quarterly Members’ Night of 2025, held in Victoria…
By Ayomide Otitoju Wema Bank Plc has announced its audited financial results for the year ended December 31, 2024, showcasing robust growth across key financial metrics. The bank reported a profit before tax (PBT) of N102.51 billion, reflecting an impressive 135% increase from the N43.59 billion recorded in 2023. Following this strong performance, the bank…
