The House of Representatives has urged the Central Bank of Nigeria (CBN) to suspend the recent increase in Automated Teller Machine (ATM) transaction charges, citing concerns over its impact on Nigerians already struggling with rising inflation and economic hardship. Lawmakers argued that the hike in fees would place an additional financial burden on citizens who rely on ATM withdrawals for daily transactions. The resolution followed deliberations on the economic implications of higher banking charges, with lawmakers emphasizing the need to protect consumers from excessive fees imposed by financial institutions. They noted that many Nigerians, especially those in rural areas with…
Author: Temitope N.
Higher Education Initiative (HEI) has announced the appointment of a new member to its Board of Trustees (BoT) as part of its ongoing efforts to strengthen governance and strategic direction. The newly appointed board member brings a wealth of experience in education policy, institutional leadership, and capacity development, which is expected to enhance HEI’s mission of advancing higher education in Nigeria and beyond. The appointment comes at a critical time when HEI is expanding its initiatives to improve access to quality education, promote research, and support academic institutions in tackling emerging challenges. With a focus on policy advocacy, funding opportunities,…
The Federal Government has expanded its bond offerings on the Nigerian Exchange (NGX) with the listing of over 900 million units, reinforcing its commitment to deepening the country’s debt market and attracting more investors. The move is part of efforts to raise capital for infrastructure projects, manage fiscal obligations, and provide stable investment options for institutional and retail investors. The newly listed bonds include various tenors, offering investors diversified options based on their risk appetite and investment horizon. With competitive yields and government backing, these bonds are expected to attract significant demand from pension funds, asset managers, and individual investors…
The Chief Executive Officer of PressPayNg has been honored with a prestigious African banking award in recognition of his contributions to financial inclusion and innovation in the fintech sector. The award, which celebrates excellence in banking and financial technology across the continent, highlights the CEO’s leadership in driving digital payment solutions and expanding access to financial services in Nigeria and beyond. PressPayNg, a leading fintech company, has been at the forefront of developing seamless payment solutions, particularly in the education sector. Under the CEO’s leadership, the company has introduced innovative financial products aimed at easing tuition payments and promoting access…
The Federal Ministry of Transportation has dismissed allegations that the $3 billion South-East railway project has been diverted, assuring the public that the funds remain intact and the project is progressing as planned. The ministry’s clarification follows growing concerns over the status of the railway initiative, which is expected to boost economic activities and improve transportation in the region. According to ministry officials, the project, which is part of Nigeria’s broader railway modernization program, is still on track, with feasibility studies, funding arrangements, and preliminary works ongoing. The government emphasized that delays in execution should not be mistaken for mismanagement…
PANA Holdings has announced the appointment of a new Vice President as part of its strategic leadership restructuring aimed at driving growth and operational efficiency. The newly appointed executive is expected to play a key role in strengthening the company’s market position, enhancing corporate governance, and spearheading new business initiatives. The appointment comes at a crucial time for PANA Holdings, which has been expanding its portfolio across various industries. The company has expressed confidence that the new Vice President’s expertise and experience will contribute significantly to its long-term vision and operational success. Industry analysts view the leadership change as a…
The Standards Organisation of Nigeria (SON) has launched a Product Identification Scheme aimed at curbing the proliferation of substandard goods in the Nigerian market. The initiative is designed to enhance product traceability, protect consumers from counterfeit items, and ensure compliance with national quality standards. Under the new scheme, manufacturers and importers will be required to register their products with SON and obtain unique identification codes. These codes will allow consumers, regulators, and stakeholders to verify the authenticity of goods through a digital platform. The move is expected to strengthen quality control measures across various industries, particularly in sectors prone to…
The Niger State government has entered into a partnership with the African Women in Technology and Science (AWITS) to promote the inclusion of women in the technology sector. This initiative aims to equip women with digital skills, foster entrepreneurship, and create opportunities in Nigeria’s rapidly evolving tech industry. Through this collaboration, women across Niger State will gain access to specialized training in coding, artificial intelligence, cybersecurity, and other emerging fields. The program also seeks to bridge the gender gap in technology by encouraging more women to pursue careers in science, technology, engineering, and mathematics (STEM). AWITS, known for its commitment…
The Olusegun Agagu Foundation (OAF) has announced plans to convene a national dialogue on food security, bringing together key stakeholders to address the challenges threatening Nigeria’s agricultural sector. The initiative aims to foster discussions on sustainable food production, policy reforms, and innovative solutions to ensure long-term food sufficiency in the country. The foundation stated that the dialogue would involve policymakers, farmers, agribusiness leaders, researchers, and development partners, with a focus on tackling issues such as climate change, rising production costs, inadequate infrastructure, and post-harvest losses. The event is expected to generate actionable recommendations that can guide government interventions and private-sector…
Nigeria’s insurance sector recorded significant trading activity as investors exchanged 72.36 million shares on the Nigerian Exchange (NGX), signaling renewed interest in the industry. The surge in trading volume highlights growing investor confidence in insurance stocks, despite economic uncertainties and market volatility. The increased activity was driven by strong performances from key players in the sector, with several insurance firms attracting higher demand due to their promising growth prospects. Analysts attribute the rise in share trading to positive sentiment surrounding recent regulatory efforts to deepen insurance penetration, as well as improved financial results from some insurers. In recent months, insurance…