The Federal Government has introduced the Electronic, Online, or Non-Traditional Consumer Lending Regulations (Consumer Lending Regulation) 2025 to tackle persistent grievances regarding the operations of Digital Money Lenders and Mobile Money Operators (MMOs), commonly referred to as loan sharks. Ondaje Ijagwu, the Director of Corporate Affairs at the Federal Competition and Consumer Protection Commission (FCCPC),…
The Presidential office declared on Wednesday that Nigeria’s fiscal standing has reached unprecedented heights, amassing N20.59 trillion in revenues from January through August 2025. The disclosed statistics indicate that these collections reflect a striking 40.5 per cent surge compared to N14.6 trillion during the equivalent timeframe in 2024, with non-oil revenue sources contributing an astounding…
In a commendable effort to enhance financial inclusion, Digitvant Microfinance Bank has ventured into the bustling Tejuosho Market in Lagos, offering customer-oriented banking solutions meticulously tailored to the everyday realities of both male and female traders. While addressing attendees at the financial inclusion initiative, Petra Akinti Onyegbule, the Head of Corporate Communications and Branding at…
In a remarkable turn of events, Titan Trust Bank, a prominent commercial bank in Nigeria, has been seamlessly integrated into Union Bank. The announcement regarding this significant merger was made on Monday through a declaration by the bank’s Head of Brand and Marketing, Mrs. Olufunmilola Aluko. This development comes in the wake of the endorsement…
The Nigerian National Petroleum Company Limited has successfully formed an alliance with local private oil and gas enterprises through a collaborative production sharing contract concerning petroleum exploration licenses. NNPCL conveyed this information in a statement on Monday, indicating that the momentous occasion unfolded at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Headquarters situated in Abuja….
The Central Bank of Nigeria (CBN) has established an updated deadline and directives for all financial institutions in Nigeria, including banks, Mobile Money Operators (MMOs), Switching and Processing Companies, Payment Terminal Service Providers (PTSPs), Payment Solution Service Providers (PSSPs), Super Agents, and other licensed operators. These entities are required to transition to the ISO 20022…
The Nigerian stock market continued its upward trajectory on Tuesday, witnessing a significant increase of N203 billion. As a result, the market capitalization of the Nigerian Exchange Limited rose to N89.696 trillion from N89.493 trillion recorded on Monday, marking a 0.23 percent escalation. In alignment with this trend, the All-Share Index (ASI) experienced an uptick…
Two prominent oil and gas entities from Nigeria, the esteemed Nigerian National Petroleum Company Limited and Nigeria Liquified Natural Gas Limited, alongside various other key upstream gas producers, have successfully inked Gas Supply Agreements to facilitate the delivery of an impressive 1.29 billion standard cubic feet per day (bscf/d) of feed gas. NNPCL announced this…
FG, states, LGs divide N2.001trn July earnings The three tiers of the Nigerian government—federal, state, and local government councils—have allocated a remarkable total of N2.001 trillion, representing the Federation Account Revenue for July 2025. This substantial revenue was distributed during the Federation Account Allocation Committee (FAAC) meeting held in the capital, Abuja, in August 2025….
In a recent turn of events, the Naira made a notable leap in the parallel market, rising to N1,550 per dollar; a slight improvement from N1,555 the day before. This uptick offers a glimmer of hope for those closely watching currency fluctuations in Nigeria’s economy. However, it’s not all smooth sailing for the Naira, as…
