ECONOMY, FOREIGN
Kenya Approves Moniepoint’s Entry with Acquisition of 78% Stake in Sumac Microfinance Bank
June 4, 2025
Kenya’s Competition Authority has approved Moniepoint Inc.’s acquisition of a 78% stake in Sumac Microfinance Bank Limited, clearing the way for the Nigerian fintech giant’s entry into the East African nation’s financial services sector. The...
Nigerian Banks Begin Deduction of USSD Transaction Charges from Customer Airtime
June 4, 2025
Deposit Money Banks (DMBs) in Nigeria will now deduct charges for USSD transactions directly from customers’ mobile airtime, rather than from their bank accounts. This change, effective June 3, 2025, follows a directive from the...
University Don Hails First Bank’s ATM Card Renewal Innovation
June 3, 2025
Dr. Joe Chukwu, Head of the Department of Mass Communication at Alex Ekwueme Federal University, Ndufu-Alike Ikwo, has publicly commended First Bank Nigeria for what he described as a groundbreaking self-service innovation in ATM card...
Nigeria Government Strategy Breaks Food Hoarding Cartels, Eases Market Pressure
June 3, 2025
In what is being hailed as a major policy breakthrough, President Bola Tinubu has successfully disrupted the grip of food hoarders and profiteers, triggering a drop in rice prices and a revival in local milling...
Call for Applications: LM Tech Hub Training Program Cohort 5
June 3, 2025
Ready to Break into Tech? Join Cohort 5’s Immersive 4-Month Program! Calling young, ambitious students! Equip yourselves with the vital tech skills to excel in today’s digital landscape through our intensive 4-month training. Whether your...
DMO Offers Two FGN Savings Bonds at N1,000/Unit for Subscription
June 3, 2025
The Debt Management Office (DMO) has opened subscriptions for two new Federal Government of Nigeria (FGN) savings bonds at N1,000 per unit, targeting retail investors amid weakening demand for short-term bonds. The first is a...
CBN Partners with Google to Launch Virtual Currency Museum
June 3, 2025
The Central Bank of Nigeria (CBN) has announced plans to launch a Virtual Currency Museum Gallery in a bid to digitize access to Nigeria’s currency heritage and promote financial and cultural education across the country...
Banks’ Soaring Deposits with CBN Signal Excess Liquidity in Nigerian Financial System
June 3, 2025
The sharp rise in banks’ deposits with the Central Bank of Nigeria (CBN) this year has highlighted significant excess liquidity in the country’s financial system. Data from the apex bank show that commercial banks deposited...
Petrol Price in Nigeria 55% Below Neighbouring Countries’ Average – Dangote
June 3, 2025
The President of Dangote Group has said Nigerians are currently paying just 55 percent of what consumers in neighbouring ECOWAS countries spend on petrol. This, he said, is the result of local refining made possible...
Call for Applications: The Global Good Fund fellowship 2026 ( For Entrepreneurs and Social Innovators)
June 3, 2025
The Global Good Fund fellowship is designed for social entrepreneurs who are creating social impact within their communities and are ready to scale their leadership to further develop their enterprises. The Global Good Fund creates a...
