The Federal Competition and Consumer Protection Commission (FCCPC) has thrown its weight behind the Central Bank of Nigeria’s (CBN) draft guidelines that mandate banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours. Ondaje Ijagwu, FCCPC Director of Corporate Affairs said the consumer protection agency welcomed the proposal, describing it as a major step toward resolving a persistent source of public frustration within the financial sector.…

President Bola Ahmed Tinubu has issued a stern warning to marginal oil field licence holders who lack the capacity to operate, urging them to leave the sector rather than waste valuable time and resources. The President made this declaration on Wednesday during the commissioning of Green Energy International Limited’s (GEIL) $400 million crude oil export terminal in Otakikpo, Rivers State. Tinubu was represented at the event by the Minister of…

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has expressed confidence that Nigeria’s crude oil production is on track to reach the 1.8 million barrels per day (BPD) benchmark before the close of the year. Ojulari made this assertion yesterday, following a visit to brief President Bola Tinubu in Lagos on the national oil company’s activities since his appointment on April 2. “With…

President Bola Tinubu on Monday opened the 31st Nigerian Economic Summit (NES1) in Abuja, where he explained the rationale behind his administration’s establishment of the ₦200 billion intervention fund for micro, small, and medium enterprises (MSMEs) and manufacturers. Represented by Vice President Kashim Shettima, Tinubu stated that the fund was a necessary measure to help these critical sectors boost competitiveness and overcome structural challenges. “We established a ₦200 billion intervention…

Governor Biodun Oyebanji of Ekiti State has voiced his satisfaction with the continuous improvement in the state’s budget performance. He called it a testament to his administration’s dedication to transparency, accountability, and prudent resource management. The governor made the comments yesterday during the Treasury Board Meeting on the Proposed 2026 Budget, which involved senior government officials from various Ministries, Departments, and Agencies (MDAs) at the Lady Jibowu Hall, Government House.…

The Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group (AMSG), Dele Alake, has advocated for a fundamental shift in Africa’s approach to its vast mineral wealth. He called for a transition from a supplier of raw materials to a global centre for mineral processing and industrialisation. He said this while delivering the keynote address at the African Mining Week in Cape Town, themed “Vision &…

Nigeria may soon see a major shift in how money moves across the country, as the Nigeria Interbank Settlement System (NIBSS) prepares to scrap transfer charges on its instant payment platform. The move, according to its managing director and chief executive officer, Premier Oiwoh, is aimed at making digital payments cheaper, faster, and more appealing than cash. Speaking at the Globus Bank Fintech Summit 2025 in Lagos, where he delivered…

Nigeria expended a total of $2.86 billion on servicing its external debt in the first eight months of 2025, representing 69.1 per cent of the country’s total foreign payments during the period, according to international payment data released by the Central Bank of Nigeria (CBN) on Wednesday. This compares to $3.06 billion spent on external debt service in the corresponding period of 2024, which made up 70.7 per cent of…

President Bola Tinubu has assured Nigerians that his administration would remain committed to repairing and strengthening the economy. In a nationwide address to mark the 65th Independence Anniversary on Wednesday, he stated that the country must “turn on the taps of productivity, innovation, and enterprise.” Tinubu cited the Ministry of Interior’s swift reforms in passport processing as an example of improved efficiency. READ ALSO: Tinubu hails youth as Nigeria’s greatest asset…

Lagos State has successfully recovered N1.5 billion in outstanding taxes from a commercial bank, marking a significant victory in the government’s ongoing efforts to strengthen fiscal governance, the state’s Attorney General and Commissioner for Justice, Lawal Pedro (SAN), announced on Tuesday. Speaking at a press briefing in Alausa to mark his second year in office, Pedro said the recovery was the result of enforcement actions taken by the Ministry of…

Governor Lucky Aiyedatiwa of Ondo State has committed his administration to sustaining collaboration with the Food and Agriculture Organisation (FAO) of the United Nations to bolster food security, youth empowerment, and land reforms in the state. The governor gave the assurance while hosting a team led by the FAO Representative in Nigeria and to ECOWAS, Hussein Gadain, on a courtesy visit in Akure. Aiyedatiwa expressed satisfaction with the progress of…

Nigeria may be plunged into darkness from Monday as power generation companies warn of an imminent shutdown of thermal plants, following directives from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). Joy Ogaji, Executive Secretary of the Association of Power Generating Companies, sounded the alarm in a WhatsApp message on Sunday, disclosing that gas suppliers had already notified power firms to halt deliveries in compliance with the…