ABUJA – Following the 296th Monetary Policy Committee (MPC) meeting held on Tuesday, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso announced key decisions aimed at addressing the country’s economic challenges. The MPC has adjusted the asymmetric corridor around the Monetary Policy Rate (MPR) from +100/-300 basis points to +500/-100 basis points. Additionally, the committee…
By Ayomide Otitoju ABUJA – On Tuesday, Mele Kyari, in a post on X (formerly Twitter), urged Aliko Dangote, President of Dangote Group, to publicly identify any NNPC personnel allegedly operating a blending plant in Malta. Over the weekend, Dangote, Africa’s richest man and owner of a $20 billion refinery in Lagos, accused some NNPC…
Abuja, Nigeria – The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced last week that the Nigerian government has not yet licensed the Dangote refinery to begin operations. Farouk Ahmed, CEO of NMDPRA, disclosed this during a press briefing at the State House on Thursday. He addressed rumors claiming that efforts to impede the…
Lagos, Nigeria- Fidelity Bank Plc has recorded an impressive average annual profit growth of 64 percent over the past three years, cementing its status as one of Nigeria’s fastest-growing financial institutions. The bank’s rapid expansion in customer base and assets has propelled its total balance sheet size from N2.1 trillion to N6.2 trillion, ranking it…
LAGOS – Detergent brand Good Mama has awarded customers over N10 million in prizes at its ‘Naija Queen Open Market Fashion Show’ held across various markets in Nigeria. The event aimed to highlight the brand’s dedication to both cleanliness and style. Running from July 8 to 19, 2024, the fashion show took place in markets…
LAGOS – In a statement issued on Sunday, leading fintech company OPay announced the rollout of advanced security features designed to protect its customers’ funds. This initiative aligns with OPay’s commitment to providing peace of mind to its platform users. Licensed by the Central Bank of Nigeria, OPay emphasized that its users’ deposits are protected…
By Ayomide Otitoju LAGOS – Zenith Bank Plc has retained its leadership position by Tier-1 capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks’ Rankings, released by The Banker Magazine. The July 2024 edition of the UK-based publication ranked Zenith Bank Plc as the 565th bank globally, with a Tier-1 capital…
Lagos, Nigeria: Aliko Dangote, Chairman of Dangote Group, has called for a comprehensive investigation into the quality of petroleum products sold at filling stations across Nigeria. This call was made on Saturday during a meeting with the leadership of the House of Representatives, led by Speaker Tajudeen Abbas and his deputy, Benjamin Kalu. Dangote urged…
By Ayomide Otitoju FirstBank, a financial institution with a 130-year legacy, has once again demonstrated its commitment to enterprise growth with its new campaign, ‘The Giant in You.’ This campaign emphasizes the bank’s historical relevance and ongoing support for businesses both within and outside Nigeria. In a creative display, FirstBank has released a series of…
