In a proactive move to enhance customer protection, OPay has rolled out new security features aimed at securing customers’ funds. This development underscores the company’s commitment to ensuring the safety and integrity of financial transactions on its platform. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific security features implemented by OPay, their functionalities, and the broader implications for user trust and confidence in digital financial services. The introduction of enhanced security features by OPay is a strategic response to the evolving landscape of digital transactions and the importance of safeguarding customer…
Author: Temitope Nlewemchi
The National Insurance Commission (NAICOM) has reported a remarkable 22% increase in pension funds, reaching a total of N18 trillion. This surge reflects the continued growth and resilience of the pension sector, contributing to the financial stability and future security of retirees. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the factors driving the significant rise in pension funds, the implications for the pension industry, and the broader impact on the financial landscape. The 22% increase in pension funds to N18 trillion indicates the sustained attractiveness and efficiency of the pension system in…
The equity market capitalization is approaching the N60 trillion mark, signifying a substantial valuation in the Nigerian stock market. This development reflects positive sentiment, investor confidence, and potential economic growth. As Infostride News closely monitors these market trends, comprehensive coverage will be provided, including insights into the factors contributing to the rise in market capitalization, notable performances of key stocks, and the broader implications for the Nigerian economy. The approaching N60 trillion equity market cap highlights the resilience and attractiveness of the Nigerian stock market to investors. Understanding the drivers behind this valuation provides valuable insights into the market dynamics…
In a significant workforce development, 1,500 redeployed staff from the Central Bank of Nigeria (CBN) have resumed their duties at the Lagos office. This move is part of the bank’s strategic efforts to optimize its human resources and enhance operational efficiency. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the reasons for the redeployment, the roles of the staff in the Lagos office, and the broader implications for the CBN’s organizational structure. The redeployment of 1,500 CBN staff to the Lagos office reflects the bank’s commitment to deploying skilled personnel to key areas…
In response to critics, Taiwo Oyedele has affirmed that there will be no recruitment of “area boys” for tax collection. This statement comes amid discussions and concerns regarding the methods and personnel involved in tax collection processes. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the context of the criticism, Oyedele’s response, and the broader implications for tax administration and governance. Taiwo Oyedele’s assurance that “area boys” will not be recruited for tax collection addresses concerns about the use of informal and potentially disruptive methods in revenue generation. Understanding the measures in place…
Ghana’s President, Nana Akufo-Addo, has announced plans to implement a visa-free policy for all African countries in 2023. This initiative reflects a commitment to fostering continental integration, promoting tourism, and enhancing diplomatic ties across the African continent. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the details of the visa-free policy, its potential impact on regional cooperation, and the broader implications for African unity and collaboration. President Akufo-Addo’s announcement signifies Ghana’s dedication to facilitating seamless movement and interaction among African nations. Understanding the specific provisions and requirements of the visa-free policy will provide…
The Socio-Economic Rights and Accountability Project (SERAP) has called on governors, including Governor Nyesom Wike, to provide an account of N40 trillion allocated to local government areas within a 7-day period. This move seeks to enhance transparency, accountability, and good governance in the utilization of local government funds. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the basis for SERAP’s request, the responses from the concerned governors, and the broader implications for fiscal responsibility and governance at the local level. SERAP’s call for accountability underscores the importance of transparent financial management, especially in…
The Lagos State Government has given illegal squatters a 5-day notice to vacate the Ijora Causeway Bridge and Blue Line Overhead Bridge. This action is part of the government’s efforts to address issues related to illegal settlements and ensure the safety and functionality of key infrastructure. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the reasons behind the eviction notice, the potential impact on affected individuals, and the broader implications for urban planning and governance in Lagos. The issuance of a 5-day notice indicates the government’s commitment to enforcing urban planning regulations and…
The Economic Community of West African States (ECOWAS) has officially confirmed that Burkina Faso, Niger, and Mali continue to be members of the regional economic bloc. This clarification comes amid ongoing discussions and geopolitical developments in the West African region. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the implications of this confirmation for regional cooperation, diplomatic relations, and the broader geopolitical landscape in West Africa. The affirmation of Burkina Faso, Niger, and Mali as ECOWAS members reinforces the commitment to regional integration and collaboration. Understanding the context of this confirmation provides valuable…
Governor Babagana Zulum has revealed that the Boko Haram insurgency has led to around 3.2 million displacements in Borno State over the past seven years. This staggering figure highlights the profound impact of the conflict on the lives and livelihoods of people in the region. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the challenges faced by those displaced, ongoing efforts to address humanitarian needs, and the broader implications for the affected communities. The disclosure by Governor Zulum underscores the urgent need for humanitarian assistance, infrastructure development, and efforts to restore stability in…
The Lagos State Government has issued advice to estate agents, urging them not to engage in transactions involving properties without the necessary planning permits. This guidance underscores the importance of compliance with planning regulations to ensure orderly urban development. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the rationale behind the advice to estate agents, the implications for property transactions, and the broader efforts to enforce planning regulations in Lagos. The directive to estate agents not to deal in properties without planning permits aligns with urban planning goals aimed at promoting sustainable and…
Vice President Shettima has appealed for global support in the development of e-mobility and other key sectors. This appeal emphasizes the importance of international collaboration in advancing sustainable and innovative solutions for critical areas of economic development. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the Vice President’s appeal, the specific areas of focus, and the potential benefits for Nigeria and the global community. The call for global support in e-mobility reflects the recognition of the transformative potential of electric vehicles and sustainable transportation solutions. Understanding the Vice President’s priorities and the proposed…
Former Borno State Governor, Kashim Shettima, has inaugurated a N15 billion Central Bank of Nigeria (CBN)-funded complex at Bayero University in Kano State. This landmark infrastructure project represents a substantial investment in education and underscores the collaborative efforts between financial institutions and academic institutions. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the details of the CBN-funded complex, its impact on academic facilities, and the broader implications for education and development in Kano State. The inauguration of the N15 billion complex at Bayero University highlights the role of financial institutions in supporting educational…
In a significant milestone, the Lekki Deep Seaport has received its first liquefied natural gas (LNG)-powered vessel. This marks a noteworthy achievement for the seaport and highlights the growing importance of sustainable and environmentally friendly maritime practices. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the significance of the LNG-powered vessel, the potential benefits for the environment, and the broader implications for the maritime industry. The arrival of the first LNG-powered vessel at the Lekki Deep Seaport signals a commitment to adopting cleaner and more sustainable energy sources in maritime operations. Understanding the…
Italy’s Prime Minister has revealed a $5.9 billion investment plan for Africa, aimed at discouraging migration. This initiative underscores the significance of addressing economic and developmental challenges in origin countries to mitigate migration pressures. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the details of the investment plan, its objectives, and the potential implications for fostering economic development and reducing migration. The $5.9 billion investment plan reflects a commitment to addressing the root causes of migration by promoting economic opportunities and development in African countries. Understanding the specific sectors and projects targeted by…
The Federal Road Safety Corps (FRSC) has successfully apprehended nearly 5000 traffic offenders in the Federal Capital Territory (FCT). This enforcement effort reflects the commitment to promoting road safety and ensuring compliance with traffic regulations. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the nature of offenses committed, the FRSC’s strategies for enforcement, and the broader implications for road safety awareness and compliance. The significant number of traffic offenders apprehended underscores the importance of stringent enforcement measures to curb traffic violations. Understanding the types of offenses and the areas where they are prevalent…
In a surprising development, the Central Bank of Nigeria (CBN) has reportedly stopped payments to members of the Monetary Policy Committee (MPC) without prior notice. This move raises questions about the reasons behind the abrupt cessation of payments and its potential implications. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the circumstances surrounding the decision, reactions from MPC members, and the broader implications for the functioning of the committee and monetary policy decisions. The sudden stoppage of payments to MPC members without notice suggests a significant shift in the financial arrangements for committee…
A recent report has emphasized that increasing women’s participation in the Nigerian economy could potentially boost the Gross Domestic Product (GDP) by 23%. This finding underscores the significant economic benefits of fostering gender inclusivity and empowering women in various sectors. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the key findings of the report, strategies for enhancing women’s participation, and the broader implications for economic growth and development in Nigeria. The report’s identification of a potential 23% GDP boost highlights the untapped economic potential that exists within the female workforce. Understanding the factors…
The World Bank has announced intentions to restructure a $200 million project in Nigeria, citing poor performance. This development underscores the importance of project effectiveness and accountability in maximizing the impact of development funds. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific project under consideration, the reasons for the poor performance, and the potential implications for development initiatives in Nigeria. The decision to restructure a project signals a commitment to ensuring that funds allocated for development purposes yield the intended results. Understanding the factors contributing to poor performance provides valuable insights…
The Nigerian Railways has reported a substantial 103% increase in revenue, reaching N1.89 billion in the third quarter of 2023. This significant growth reflects positive developments in the railway sector and suggests a potential resurgence in rail transportation’s contribution to the economy. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the factors contributing to the impressive revenue growth, the impact on the railway sector, and the broader implications for transportation and economic activities. A 103% increase in revenue indicates a notable turnaround and increased viability of railway operations. Understanding the specific drivers behind…