MTN Nigeria has announced a strategic partnership with the national Small Business Agency to drive digital transformation, growth, and employment creation among the country’s small and medium-sized enterprises (SMEs). The collaboration is aimed at empowering approximately 40 million SMEs nationwide by providing access to technology, training, and financial solutions that will enhance business efficiency, expand market reach, and stimulate economic development. The partnership, which aligns with the government’s agenda to strengthen the SME sector, focuses on equipping entrepreneurs with tools to navigate the digital economy. By leveraging MTN’s telecommunications and digital expertise alongside the Agency’s capacity-building programmes, the initiative seeks…
Author: Temitope Nlewemchi
Dangote Group, one of Africa’s largest conglomerates, is on course to become the world’s top fertiliser producer by 2028, according to the company’s founder and chairman, Aliko Dangote. The announcement highlights the firm’s ambitious expansion plans in the agro-industrial sector, reflecting its commitment to transforming Africa’s agricultural landscape and boosting global food security through large-scale fertiliser production. Speaking at a recent industry forum, Dangote emphasised that the company’s investments in fertiliser manufacturing are part of a broader strategy to strengthen Africa’s industrial base and reduce the continent’s reliance on imported agricultural inputs. The conglomerate has already made significant progress, with…
OPay has earned significant acclaim at the recently concluded Tech Innovation Awards, securing two distinguished honours that underline the company’s growing influence in Nigeria’s digital financial ecosystem. The wins highlight OPay’s increasing impact on payment technologies, financial inclusion, and the expansion of digital services that cater to millions of users across the country. The recognitions, according to organisers of the award ceremony, were presented in acknowledgment of OPay’s consistent innovation and leadership in delivering seamless mobile payment solutions, creating economic opportunities for small businesses, and strengthening the nation’s evolving fintech landscape. The company has continued to demonstrate resilience, adaptability, and…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to publicly identify and prosecute individuals, groups, and networks believed to be sponsoring terrorism across the country. The association said exposing the financiers of violent extremism has become crucial for national security, economic stability, and the protection of workers whose lives and livelihoods are threatened daily by insecurity. PENGASSAN’s leadership expressed concern that despite years of government interventions, billions of naira spent on security operations, and multiple military deployments across various regions, terrorist groups have continued to survive due to the influence of…
The Pension Transitional Arrangement Directorate (PTAD) has recorded a significant surge in its monthly pension expenditure, with payments to federal retirees now reaching an estimated N1 trillion. This development reflects the increasing financial commitments required to sustain pension obligations under the Defined Benefit Scheme (DBS), as well as efforts made by the Federal Government to clear inherited arrears and ensure timely payments to senior citizens across the country. According to sources within the pension administration system, the spike in payout figures is driven by several factors, including the onboarding of verified pensioners, harmonisation of pension rates, adjustments linked to salary…
Emirates Airlines has been honoured once again for its exceptional role in enhancing air travel links across Africa, receiving a major award for African connectivity. The recognition underscores the airline’s long-standing commitment to improving aviation access, facilitating trade and tourism, and supporting the economic aspirations of several African nations. The award, presented by industry experts and stakeholders, reflects Emirates’ sustained investment in expanding routes, upgrading services, and providing reliable connections between Africa and major destinations around the world. Over the years, Emirates has built one of the most extensive networks serving the African continent, connecting travellers from key cities such…
The Federal Government has approved the release of N185bn to settle long-standing debts owed to gas producers, marking one of the most significant financial interventions aimed at stabilising Nigeria’s fragile power sector. The decision, endorsed at the highest levels of government, is intended to restore confidence among gas suppliers, many of whom have repeatedly warned that unresolved debts were hindering their ability to sustain production and expand supply to power plants. With this latest move, authorities are hoping to remove one of the biggest bottlenecks preventing consistent electricity generation across the country. According to senior officials privy to the process,…
Airtel Africa, one of the continent’s leading telecommunications operators, has announced the commencement of a formal process to appoint a new external auditor. The decision, aimed at enhancing transparency, corporate governance, and investor confidence, marks a significant step in the company’s ongoing efforts to maintain high standards of financial reporting and compliance with international accounting practices. According to company sources, the move is part of Airtel Africa’s routine governance procedures, following the completion of the current auditor’s term. The recruitment process is expected to be rigorous, with careful evaluation of potential candidates based on their experience, technical capabilities, regional presence,…
The Central Bank of Nigeria (CBN) has increased interest rates on Treasury Bills (T-Bills) to levels above the current inflation rate, signaling a strategic shift aimed at attracting more investors to government securities, strengthening the naira, and improving overall liquidity management in the economy. This decision reflects the apex bank’s continuing efforts to balance monetary policy, manage inflationary pressures, and maintain investor confidence amid evolving economic conditions. According to CBN officials, the upward adjustment in T-Bill yields is intended to make government instruments more attractive compared with other investment avenues, particularly in an environment where inflationary trends have eroded real…
The Nigerian Ports Authority (NPA) has announced a strategic initiative aimed at connecting local producers with international markets, a move designed to boost exports, strengthen the nation’s trade capacity, and promote industrial growth. The initiative seeks to streamline export processes, improve logistics efficiency, and provide local manufacturers with greater access to global supply chains. According to NPA officials, the programme will leverage the country’s port infrastructure, modern cargo handling systems, and digital platforms to facilitate smoother and faster movement of goods from Nigerian producers to overseas buyers. By reducing bottlenecks and improving port efficiency, the authority hopes to lower the…
The African Export-Import Bank (Afreximbank) has emphasised the transformative potential of digital trade in reducing transaction costs for African businesses, estimating that full adoption of digital solutions could cut trade-related expenses by as much as 30 percent. The bank made the announcement during a recent forum on continental trade integration, stressing that technology-driven trade processes could unlock efficiency, enhance competitiveness, and strengthen Africa’s position in global markets. According to Afreximbank officials, digital trade involves the use of technology platforms to facilitate cross-border transactions, streamline documentation, improve payment systems, and enhance logistics and supply chain management. By replacing traditional manual processes…
United Bank for Africa (UBA) Group has officially welcomed the festive season by transforming its Marina headquarters in Lagos into a dazzling spectacle of lights and decorations. The annual lighting ceremony, which has become one of Lagos’s most anticipated corporate holiday traditions, drew admiration from visitors, passersby, and members of the business community as the iconic building lit up the entire stretch of Marina with vibrant colours and festive displays. The event marked the bank’s symbolic kickoff of the Yuletide season, reflecting its commitment to spreading joy, strengthening community spirit, and celebrating cultural togetherness. UBA executives, staff, guests, and members…
Wema Bank has expanded its premium banking portfolio with the introduction of a new Black Card, launched as part of the build-up to the 13th Global Achievers Honors (GAH) Awards. The new offering marks a significant step in the bank’s continuing push to provide more personalised and luxury-focused financial services tailored to high-value clients. The bank described the newly unveiled Black Card as a “statement product” designed for individuals who desire an elevated banking experience, enhanced transaction convenience, and access to premium lifestyle benefits. Its launch underscores Wema Bank’s ambition to strengthen its foothold in the competitive premium banking segment,…
The Nigeria Deposit Insurance Corporation (NDIC) is intensifying efforts to strengthen its collaboration with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to improve the valuation and management of assets belonging to failed financial institutions across the country. The Corporation said the partnership has become increasingly important as it continues to deal with the complex process of recovering, restructuring, and disposing of assets tied to distressed or liquidated banks. During a recent engagement with NIESV executives, the NDIC emphasised that accurate and professional valuation is vital to its mandate of safeguarding depositors’ funds and stabilising the financial system. The…
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that more than 700,000 electricity meters are now ready for distribution across the country as part of the federal government’s renewed effort to close the widening metering gap. The Commission said the latest development reflects ongoing progress under the Meter Asset Provider framework and the National Mass Metering initiatives designed to eliminate estimated billing and improve transparency in electricity consumption. NERC emphasised that the 700,000 meters represent the first batch of a broader deployment strategy that will unfold over the coming months, targeting millions of unmetered customers across the distribution companies. The…
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has commended the leadership of the Minister of Marine and Blue Economy, Adegboyega Oyetola, describing his strategic direction and diplomatic engagement as central to Nigeria’s recent success in securing a seat on the International Maritime Organisation (IMO) Council. The Association said the achievement marks a significant milestone for Nigeria’s maritime sector and reinforces the country’s growing influence in global maritime governance. According to NACCIMA, the minister’s focused approach, sector reforms, and coordination with key agencies were critical enablers that strengthened Nigeria’s bid and ultimately earned the country a…
MTN Nigeria has once again reinforced its position as a leading player in the nation’s telecommunications industry after emerging with four prestigious honours at the latest edition of the Consumers’ Awards. The company’s performance at the event has been described by industry observers as a reflection of its consistent commitment to customer satisfaction, service innovation, and the continuous enhancement of its network infrastructure across the country. The awards, which celebrate brands that deliver exceptional value to consumers, attracted participants from various sectors, including telecommunications, financial services, technology, retail, and entertainment. MTN’s dominance at the ceremony underscored the company’s long-standing focus…
The Nigerian Electricity Regulatory Commission (NERC) has taken a decisive step in its ongoing enforcement drive by announcing plans to withhold part of the operational expenditure (opex) funds allocated to electricity distribution companies that fail to comply with approved refund processes for customers who paid for meters under earlier schemes. The Commission said the action has become necessary following repeated delays and inconsistencies by some DisCos in reimbursing customers who funded their own meters under previous frameworks, especially the Meter Asset Provider (MAP) regulation. According to NERC, the refunds are a mandatory obligation since customers who paid out of pocket…
The Bank of Industry (BoI) and the Nigerian Content Development and Monitoring Board (NCDMB) have formalised a partnership to establish a $100 million content development fund aimed at boosting local participation in Nigeria’s oil and gas sector. The agreement reflects ongoing efforts to deepen indigenous involvement in the industry, promote value addition, and provide financing solutions to Nigerian businesses operating within the energy value chain. Under the arrangement, BoI will provide the financial infrastructure and credit management expertise, while NCDMB will leverage its regulatory oversight and industry knowledge to ensure that the fund supports projects aligned with national local content…
The Central Bank of Nigeria (CBN) has mandated all deposit money banks to ensure that customers who fall victim to Authorized Push Payment (APP) fraud receive full refunds within 48 hours of reporting the incident. The directive underscores the apex bank’s determination to protect consumers and curb the rising incidence of APP scams, which have increasingly affected individuals and businesses across the country. APP fraud, commonly associated with scams in which individuals are tricked into authorizing payments to fraudsters, has become a major source of concern in Nigeria’s banking sector. In recent months, the cases have surged, affecting thousands of…