Technology Key to Securing Nigeria’s Evolving Financial Landscape
Financial expert Oluwatoyin Ayodele has emphasized the crucial role of technology in safeguarding Nigeria's financial security amid the country's ongoing digital transformation. In her research titled "Enhancing Consumer Trust in Financial Services: The Role of Technological Security Innovations," Ayodele highlighted the importance of building trust through robust and innovative security frameworks. "Trust in financial institutions cannot rely on reputation alone....
Fidelity Bank Launches “Bundles of Joy” Initiative for Children with Special Needs
Fidelity Bank Plc has launched a heartwarming initiative, "Bundles of Joy," aimed at supporting children with special needs and their families. The program, part of the bank's commitment to social welfare, provides supportive spaces and activities for children with special needs while addressing the psychological and emotional well-being of their parents and caregivers. The inaugural session of the program, held in...
FX Demand Declines in Q3 2024 as Invisible Transactions Slow
The demand for foreign exchange in Nigeria experienced a slight decline in the third quarter of 2024, primarily driven by a significant drop in invisible transactions, according to the latest Quarterly Statistical Bulletin published by the Central Bank of Nigeria (CBN). Invisible transactions, which include payments for services such as education, medical treatment, and travel, saw a 32 percent quarter-on-quarter...
Dangote Refinery Disrupts Global Crude Oil Trade, Impacts Nigeria’s Oil Exports
The Dangote Petroleum Refinery has significantly impacted global crude oil trade flows, retaining 13 percent of Nigeria's crude oil exports for domestic consumption in 2024, a new report by Reuters has revealed. This development, which saw Nigeria import 47,000 barrels per day of US oil, has raised concerns among industry experts. "The Dangote Refinery, alongside other new refineries in the global...
World Bank Urges Private Sector Investment to Power “Mission 300” in Africa
The World Bank has urged private sector investors to play a crucial role in achieving its ambitious "Mission 300" initiative, which aims to connect 300 million people in Sub-Saharan Africa, including Nigeria, to electricity by 2030. Recognizing the significant energy access gap in the region, where nearly 600 million people lack access to electricity, the World Bank, in collaboration with...
NACCIMA Urges FG to Reduce Corporate Tax to 19% to Stimulate Growth
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has urged the Federal Government to reduce corporate tax to 19% and value-added tax (VAT) to 7.5% to stimulate economic growth. In a report titled “Options for Economic Reform and Consequences for The Medium-Term Expenditure Framework for 2025-2027,” NACCIMA argued that these tax reductions would not only boost...
Improved Refugee Integration in Nigeria: Focus on Vocational Training and Language Skills
Ojeikere Akhadelor, a migration studies expert, has recommended increased language and vocational training to effectively integrate refugees into Nigerian society. In his research titled “The Impact of Refugee Resettlement Programmes on Local Communities in America: A Case Study of New York City,” Akhadelor highlighted key challenges in refugee integration, including housing shortages, overburdened public services, and the influence of...
NACCIMA Urges FG to Reduce Corporate Tax to Stimulate Economic Growth
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has urged the Federal Government to reduce corporate taxes to 19 percent and value-added tax (VAT) to 7.5 percent to stimulate economic growth. In a report titled “Options for Economic Reform and Consequences for The Medium-Term Expenditure Framework for 2025-2027,” NACCIMA argued that these tax reductions would not...
Tony Elumelu Foundation Opens Applications for 2025 Entrepreneurship Programs, Focusing on AI and Green Initiatives
The Tony Elumelu Foundation has announced the opening of applications for its 2025 Entrepreneurship Programs, offering a unique opportunity for aspiring and existing African entrepreneurs to access funding, training, and mentorship. Applications are now being accepted through TEFConnect, the Foundation's proprietary digital hub, from January 1, 2025, to March 1, 2025. The flagship Tony Elumelu Foundation Entrepreneurship Programme, with...
GTCO Successfully Raises N209.41 Billion in First Phase of Equity Capital Raise
Guaranty Trust Holding Company Plc (GTCO) has successfully concluded the first phase of its equity capital raise program, securing N209.41 billion from domestic retail investors. The offer attracted significant interest, with 130,617 valid applications received for 4,705,800,290 ordinary shares, all of which were fully allotted. "We extend our sincere appreciation to our new and existing shareholders, as well as...
