The Nigeria Deposit Insurance Corporation (NDIC) has called on law enforcement agencies to strengthen their collaboration to curb banking fraud in the country. This was emphasized by the Managing Director/Chief Executive of NDIC, Bello Hassan, at the annual capacity-building workshop for law enforcement agents in Lagos on Thursday. Represented by the NDIC Director of Communication…
The Federal Government has praised the contributions of platforms like Moniepoint in driving the growth of Nigeria’s informal sector. This commendation was made by Vice President, Senator Kashim Shettima, during the launch of the 2024 Nigeria Informal Economy Report, powered by Moniepoint in collaboration with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN)…
Nigeria’s daily oil production rose by 25,000 barrels per day, climbing from 1.251 million barrels per day (mbpd) in May to 1.276 mbpd in July, according to the Organisation of the Petroleum Exporting Countries (OPEC) in its Monthly Oil Market Report for June, which cited direct communication with the Nigerian government. Despite the government’s efforts…
The MTN Foundation and the Musical Society of Nigeria (MUSON) recently celebrated the graduation of 29 young musicians from their esteemed scholarship program. The ceremony, held at the MUSON Centre in Lagos, highlighted the scholars’ exceptional talent and marked a pivotal moment in their musical careers. Since its inception in 2006, the MTN Music Scholarship…
In February, the Central Bank of Nigeria (CBN) revoked the licenses of 4,173 Bureau De Change operators for failing to adhere to regulatory guidelines, as explained in a statement by its acting Director of Corporate Communications, Sidi Hakama. According to the CBN, these operators violated regulatory provisions such as nonpayment of necessary fees within the…
In a statement issued in Abuja on Wednesday, both parties announced the signing of a memorandum of understanding (MoU) aimed at supporting Nigeria’s power sector development. The MoU, signed by USAID/Nigeria Mission Director Melissa Jones and Federal Ministry of Power Permanent Secretary Mahmuda Mamman, marks the implementation of a US government grant-funded technical assistance program…
Oluwatoni Oladiran, CEO of Oilden Energies, has raised alarm over the use of palm oil as a base oil in lubricant production, emphasizing its damaging effects on engines. Speaking to journalists, Oladiran expressed grave concerns about the prevalence of adulterated engine oils in the market, revealing that some unscrupulous producers were substituting base oils with…
During the first annual conference and third annual general meeting of the Alumni Association of the Federal College of Fisheries and Marine Technology in Lagos, maritime stakeholders highlighted Nigeria’s untapped potential in the fishing industry and its implications for economic growth. Under the theme “Unlocking the Potential of the Blue Economy: FCFMT Alumni Contributions to…
The Organised Private Sector (OPS) has urged for a fair and impact-driven distribution of government import waivers, highlighting transparency as crucial for economic growth and support to local industries. Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, emphasized the need for a transparent assessment of each waiver’s impact during a…
