By Ayomide Otitoju Oyene highlighted the failure of legislators to fulfil their constitutional responsibilities, citing their focus on self-enrichment. “Legislators were preoccupied with determining their salary scales, fringe benefits, and unnecessary foreign travels,” he stated. This lack of financial discipline, according to Oyeneyin has led Nigeria to rely heavily on both internal and external borrowing…
The Central Bank of Nigeria (CBN) has said it would continue to implement more policies to tackle cybersecurity challenges, foster innovation to ensure stability and integrity of the financial system. The Deputy Governor, Financial Systems Stability at CBN, Mr Philip Ikeazor, said this during a two-day Financial Institutions Training Centre (FITC) Fintech Conference held in…
Stanbic IBTC Bank is committed to empowering Nigerians to own homes through its products and guidance. This commitment was highlighted at the recent Home Ownership Summit, where the bank focused on making homeownership dreams a reality for Nigerians and promoting property wealth creation. Key Highlights from the Home Ownership Summit: Diverse Audience: The summit attracted…
Employees of Access Bank, under the Retail Operations Group (ROG), have donated boreholes to various communities across Nigeria. This initiative is part of the bank’s Corporate Social Responsibility (CSR) efforts for the year and comes amid a cholera outbreak that has resulted in over 40 deaths. Details of the Initiative: Geographical Reach: Boreholes and water…
Fidelity Bank is taking proactive steps to address the investment and support challenges faced by startups in Africa. This commitment was emphasized during the Africa Technology Expo held recently in Lagos. Key Initiatives by Fidelity Bank: Digital-Based Retail Banking Strategy: Fidelity Bank is implementing a digital-based retail banking strategy through an SME business hub. This…
The Nigerian National Petroleum Company Limited (NNPC) is spearheading several major gas infrastructure projects, collectively worth approximately $4.15 billion, aimed at transforming Nigeria into a leading gas-powered economy. These projects include: Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project: Estimated at around $2.8 billion, this project is designed to deliver gas to power plants, increase electricity generation, support…
According to a documentary recorded between June 15 and 21, about 400 incidents of oil theft and vandalism were reported by both government and private security agencies. Key findings include: Illegal Connections: 69 illegal connections were discovered and disconnected in Bayelsa and Rivers States.Oil Spills: Eight cases of oil spills due to vandalism or illegal…
Cardoso emphasized that the CBN’s monetary policy tools have significantly reduced naira volatility, stabilizing the forex market. He noted that inflationary pressures are starting to decrease, with the current inflation rate at 33.69 percent. Cardoso mentioned a positive deceleration in month-on-month inflation rates and assured that the Monetary Policy Committee (MPC) remains vigilant in monitoring…
Fidelity Bank has reinforced its commitment to advancing digital innovation across Africa, as highlighted during a significant event held at the Landmark Event Center in Victoria Island, Lagos. Dr. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer of Fidelity Bank Plc, articulated the bank’s strategic initiatives aimed at driving digital-based retail banking. Central to their strategy…
