The Financial Services Innovators (FSI) on Tuesday celebrated its six-year milestone of building Africa’s innovation ecosystem. The organisation has, over the years, deepened its impact on inspiring technology talent within tertiary institutions and supporting startups through incubation, acceleration, and capacity-building programmes. Founded in 2019, FSI has committed to bridging the gap between innovation, practical skills, …
Nigeria slid to 18th position in Rand Merchant Bank’s (RMB) Where to Invest in Africa index (WTIIA) report for 2025/2026. The report, themed 'From Aid to Investment and Trade, offered insights into the continent’s top investment prospects. “The country’s precipitous fall from 9th to 18th in the WTIIA rankings suggests that the term ‘wahala’ has …
President Bola Tinubu has set up a committee to resolve the ₦1.5 trillion backlog owed to 2,000 contractors. The Special Adviser on Information and Strategy, Bayo Onanuga, briefed state house correspondents after the Federal Executive Council meeting in Abuja on Wednesday, December 10. He said the President was “upset” after learning that about 2,000 contractors …
The Central Bank of Nigeria Governor, Olayemi Cardoso, has inaugurated the new Board of the Agricultural Credit Guarantee Scheme Fund (ACGSF). The apex bank made this known in a statement on Wednesday, December 10. Cardoso said the inauguration of the ACGSF board reaffirms the apex bank’s commitment to strengthening Nigeria’s agricultural sector. He highlighted the …
The Federal Government has directed Ministries, Departments and Agencies (MDAs) to defer 70 per cent of their 2025 capital allocations into the 2026 fiscal year. It gave the order in the 2026 Abridged Budget Call Circular, reportedly issued by the Ministry of Budget and Economic Planning to ministers, service chiefs, and heads of agencies. This …
FCMB Group Plc's profit before tax soared 46 per cent to ₦134.5 billion in the third quarter (Q3) of the year on stronger interest margins despite a decline in loans and advances to customers. The bank disclosed this in its unaudited financial statements for the nine months ended September 30, 2025. The results show that FCMB's …
The Central Bank of Nigeria (CBN) said it has granted final licenses to 82 Bureaux De Change (BDCs) to operate with effect from November 27, 2025. CBN disclosed this in a statement on Monday, December 8, by its Acting Director of Corporate Communications, Hakama Sidi Ali. CBN said it acted in line with its powers conferred …
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it has commenced an unprecedented audit of 760 federal road projects valued at ₦36 trillion. The nationwide special tracking exercise is in collaboration with the Federal Ministry of Works to ensure transparency and value in public infrastructure spending. In a statement on Monday, December …
Nigeria is moving towards a T+1 (trade date plus one day) settlement cycle and will eventually settle for a T+0 cycle, according to the Securities and Exchange Commission (SEC). The move is part of a series of wide-ranging reforms the SEC Director-General Emomotimi Agama hinted at during the second Capital Market Committee (CMC) meeting for …
A Superintendent of the Nigeria Security and Civil Defence Corps (NSCDC), Hassan Abdullahi, has been sentenced to seven years in prison for offences related to certificate forgery and corrupt advantage. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it secured the conviction at the Federal Capital Territory High Court sitting in Gudu, …
