Lift Above Poverty Organization (LAPO) Microfinance Bank has honoured its loyal customers across Nigeria as part of activities marking the 2025 Customer Service Week, reaffirming its commitment to financial inclusion and client-centered service delivery. The event, which was held simultaneously across the bank’s nationwide branches, celebrated clients for their trust, partnership, and resilience in supporting LAPO’s mission to empower low-income individuals and micro-entrepreneurs. In a statement issued by the bank’s management in Benin City, LAPO described the celebration as an opportunity to appreciate customers who have contributed immensely to the institution’s success story. The bank, known for its extensive outreach…
Author: Temitope N.
The West African Centre for Public Relations (WACEPR) has congratulated the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, on his recognition as the LEADERSHIP Newspaper’s CEO of the Year. The organisation described the award as a well-deserved acknowledgment of Komolafe’s exemplary leadership, regulatory reforms, and transformative contributions to Nigeria’s oil and gas sector. In a statement issued on Monday, WACEPR’s Executive Director, Dr. Paul Anyanwu, lauded Komolafe for his visionary approach to governance and his commitment to transparency, accountability, and efficiency in the upstream petroleum industry. He noted that under Komolafe’s stewardship, the…
The Central Bank of Nigeria (CBN) has commended the nation’s successful removal from the Financial Action Task Force (FATF) grey list, describing the milestone as a major step toward restoring international confidence in Nigeria’s financial system and investment climate. The apex bank said the development is a reflection of Nigeria’s strengthened regulatory framework, improved compliance with global anti-money laundering standards, and enhanced inter-agency coordination in combating financial crimes. In a statement issued on Monday, the CBN expressed satisfaction with the FATF’s recent decision to delist Nigeria following a rigorous evaluation process that confirmed the country’s substantial progress in addressing identified…
The Coca-Cola Company has reported a significant $393 million loss for the third quarter of 2025, attributing the setback primarily to the sale of its subsidiary, Chi Limited, a major player in Nigeria’s beverage and dairy market. The company disclosed that the divestment of Chi Limited, along with adjustments related to foreign exchange and restructuring costs, were major contributors to the reported decline. According to Coca-Cola’s latest financial statement released on Monday, the company said the decision to divest from Chi Limited was a strategic one aimed at streamlining operations and focusing on its core beverage portfolio. The company noted…
The National Drug Law Enforcement Agency (NDLEA) has lauded the Nigeria Customs Service (NCS) for its sustained fight against drug trafficking and smuggling across the country’s borders. The agency described Customs’ recent operations and seizures as a major boost to Nigeria’s overall anti-narcotics campaign and a demonstration of effective inter-agency collaboration. The commendation came following a series of high-profile interceptions of illicit drugs and substances by Customs operatives in various commands across the country, particularly at seaports, airports, and land borders. These operations, according to the NDLEA, have helped prevent large volumes of narcotics from entering Nigerian communities and have…
The Transmission Company of Nigeria (TCN) has reported that suspected vandals have destroyed a section of its high-voltage transmission line connecting Gombe and Damaturu, resulting in a partial disruption of electricity supply to parts of the North-East region. The company described the act as a setback to its ongoing efforts to stabilize power delivery in the area. According to a statement issued by the TCN management, the incident occurred along the 330kV transmission line linking Gombe and Damaturu, one of the key power infrastructure routes supplying electricity to Yobe and Borno States. Preliminary investigations by the company’s technical team revealed…
Rice prices in Lagos have significantly dropped in recent weeks following an increase in both local and imported supply, bringing relief to consumers who have been burdened by rising food costs. The recent decline is linked to improved domestic production, efficient milling operations, and the arrival of new consignments through Nigeria’s seaports. A market survey across major Lagos markets, including Daleko, Mile 12, Oyingbo, and Ikotun, revealed that a 50kg bag of locally milled rice, which sold for between ₦75,000 and ₦80,000 last month, now goes for ₦60,000 to ₦65,000. Imported brands that previously retailed for up to ₦85,000 per…
First Bank of Nigeria Limited has announced the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its cross-border payments platform, marking a significant leap toward enhancing seamless trade and financial transactions across African countries. The initiative aligns with the bank’s commitment to fostering regional financial inclusion and strengthening the framework for intra-African trade under the African Continental Free Trade Area (AfCFTA). The move is expected to make cross-border payments faster, more secure, and more cost-effective by reducing reliance on third-party foreign currencies such as the U.S. dollar for settlements between African nations. With PAPSS now fully operational…
OPPO has officially unveiled its latest addition to the A-series lineup, the OPPO A6 Pro, a smartphone designed to redefine user experience through advanced technology, stylish design, and enhanced performance. The new device underscores OPPO’s continuous commitment to innovation and excellence, providing consumers with cutting-edge features that combine functionality, efficiency, and sophistication. The launch event, held in Lagos, attracted tech enthusiasts, partners, and industry experts who witnessed the debut of the new A6 Pro, which OPPO described as a “smart innovation companion for the modern user.” The smartphone comes with a sleek body design, improved display quality, powerful processing capability,…
Presco Plc, one of Nigeria’s leading integrated agro-industrial companies, has announced a remarkable profit of N110.8 billion for its third-quarter financial results, reflecting a significant improvement in both revenue and operational performance. The company’s performance underscores its resilience and efficiency in navigating Nigeria’s challenging business environment, driven largely by increased output, improved cost management, and strategic expansion in its oil palm value chain. According to the company’s financial statement released to investors, Presco’s profit for the period surged on the back of higher production volumes, enhanced processing capacity, and favourable pricing of palm oil products both locally and internationally. The…
The Niger Delta Power Holding Company (NDPHC) has announced the commencement of a scheduled four-week maintenance exercise at the Geregu Power Plant in Kogi State, aimed at enhancing operational reliability, generation efficiency, and long-term performance of the facility.According to the company, the maintenance began earlier this week and is expected to last for about a month, during which some turbines and auxiliary equipment will undergo detailed inspection, servicing, and replacement of worn-out components. The exercise, NDPHC noted, is part of its preventive maintenance programme to ensure optimal power generation and avoid unplanned outages that could affect the national grid. Speaking…
The National Inland Waterways Authority (NIWA) has begun an extensive operation to clear water hyacinth from major waterways in Lagos State, in a move aimed at improving water transportation, boosting economic activities, and ensuring navigational safety across the state’s inland waterways.The clearance exercise, which began over the weekend, targets the removal of the invasive aquatic weed that has long disrupted movement on key routes, including Ikorodu, Mile 2, Badore, Falomo, and Ijegun. The initiative comes as part of NIWA’s broader strategy to enhance inland water navigation and ensure seamless transport operations within Nigeria’s busiest maritime corridor. Speaking during the flag-off…
The Federal Government has announced the official prices for the new housing units under the Renewed Hope Cities and Estates Programme, a flagship initiative aimed at addressing Nigeria’s housing deficit and promoting affordable homeownership across the country. The move, which forms part of President Bola Tinubu’s broader economic recovery and social welfare agenda, seeks to make housing accessible to low- and middle-income earners while boosting local construction and job creation. The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, disclosed the pricing details during the launch of the latest phase of the scheme in Abuja. He stated that…
Zenith General Insurance Limited has reaffirmed its commitment to corporate social responsibility (CSR) by donating essential supplies and financial support to several orphanages across Lagos State. The gesture, according to the company, is part of its broader mission to improve the lives of vulnerable children and promote social welfare in communities where it operates. The company’s management team, led by its Managing Director and Chief Executive Officer, Mr. Kehinde Borisade, visited a number of orphanage homes in Lagos, including Little Saints Orphanage, SOS Children’s Village, and Heritage Homes. During the visits, the team presented food items, hygiene products, educational materials,…
Africa’s richest man, Alhaji Aliko Dangote, has announced that the Nigerian National Petroleum Company Limited (NNPC Ltd) can increase its ownership stake in the Dangote Petroleum Refinery if it wishes to strengthen its investment in the project. Dangote made this statement during a recent interaction with journalists at the refinery complex in Ibeju-Lekki, Lagos, where he discussed the facility’s operations, crude supply, and Nigeria’s energy outlook. Dangote revealed that NNPC currently holds a 20 percent equity stake in the refinery but has the right to expand its interest under the terms of their agreement. He explained that such a move…
The National Insurance Commission (NAICOM), the Federal Road Safety Corps (FRSC), and the National Health Insurance Authority (NHIA) have announced a collaborative framework to enhance the enforcement of compulsory insurance schemes across Nigeria, particularly focusing on motor and health insurance compliance. The partnership, which was formalised during a strategic meeting in Abuja, aims to address the low level of insurance penetration in the country and ensure that Nigerians comply with statutory insurance requirements, as stipulated by law. The agencies agreed that better coordination and enforcement will not only improve national safety but also deepen public trust in the insurance industry.…
The World Bank has launched a groundbreaking initiative called AgriConnect, pledging up to $14 billion by 2030 to revolutionise agricultural development across emerging economies. The programme is designed to create jobs, promote sustainable food systems, and boost private sector participation in agribusiness, with Africa — particularly Nigeria — expected to be a major beneficiary. Announcing the initiative during the World Bank–IMF Annual Meetings, World Bank President Ajay Banga described AgriConnect as a bold shift from isolated development funding to large-scale transformation that connects farms, markets, and finance. “Jobs are the most powerful pathway out of poverty, and agriculture remains central…
The Nigeria Customs Service (NCS) has launched a new electronic platform designed to tackle the long-standing problem of vehicle smuggling, improve transparency, and enhance revenue collection. The initiative, unveiled at the Customs Headquarters in Abuja, represents a major step toward digital transformation within the service and aligns with the Federal Government’s ongoing drive to modernize trade operations across the country. Speaking during the launch, the Comptroller-General of Customs, Adewale Adeniyi, stated that the new system would provide an efficient and transparent process for vehicle registration, duty payment, and clearance verification. According to him, the platform aims to eliminate the loopholes…
Access Bank Plc has reiterated its commitment to fostering stronger partnerships with Small and Medium-sized Enterprises (SMEs) and intensifying its investments in technology to drive innovation and sustainable growth across Nigeria’s business landscape. The bank made this known during a recent stakeholder engagement session in Lagos, where top executives highlighted the institution’s renewed strategy to empower SMEs through financial support, digital solutions, and capacity-building initiatives. The bank’s Executive Director for Retail Banking, Victor Etuokwu, emphasized that SMEs remain the backbone of Nigeria’s economy, accounting for a large percentage of employment and productivity. According to him, Access Bank’s goal is to…
Nigeria’s imported petrol landing cost has reportedly dropped to about N840 per litre, a decline influenced by the recent moderation in global crude oil prices and relative stability in foreign exchange rates. However, despite this reduction, pump prices across the country remain high, sparking renewed debate over the actual pricing mechanism and cost structure within the downstream petroleum sector. Industry data and market analysts revealed that the decline in landing cost is primarily due to the fall in international oil prices, which have hovered between $83 and $87 per barrel in recent weeks, coupled with the slight strengthening of the…