By JKNewsMedia A MAJOR leap in Nigeria’s energy infrastructure has emerged with Fidelity Bank Plc backing the country’s first privately built and operated onshore crude oil export terminal in over 50 years. Situated at the Otakikpo Marginal Field in Rivers State, the terminal is operated by Green Energy International Limited (GEIL). It record...
By JKNewsMedia ALLEGATIONS THAT ₦5 billion was paid to police to prevent the detention of Fidelity Bank’s Managing Director, Nneka Onyeali-Ikpe, have been dismissed as entirely false and deliberately misleading. The bank issued a strong rebuttal following a publication on Sahara Reporters that claimed MD Nneka Onyeali-Ikpe confessed to making...
By Jemimah Wellington, JKNewsMedia Reporter BUYING INTEREST in medium and large-cap stocks lifted Nigeria’s equities market on Wednesday, closing the session with a strong 0.56 per cent gain and boosting investor wealth by N405 billion, according to data from the Nigerian Exchange (NGX). Also, market capitalisation climbed from N71.897 trilli...
By JKNewsMedia CUSTOMERS USING the Unstructured Supplementary Service Data (USSD) banking services will now have charges deducted from their mobile airtime balances instead of bank accounts, following a directive from the Nigerian Communications Commission (NCC). The move enforces the NCC’s End-User Billing (EUB) model, which stipulates that n...
By Jemimah Wellington, JKNewsMedia Reporter THE INDEPENDENT Media and Policy Initiative (IMPI) has criticised the International Monetary Fund (IMF) for trimming Nigeria’s projected economic growth in 2025 from 3.2 percent to 3.0 percent, arguing the assessment overlooks the country’s broader economic evolution beyond oil. In a policy statemen...
By Jemimah Wellington, JKNewsMedia Reporter MICROSOFT CO-founder Bill Gates will dissolve the Bill & Melinda Gates Foundation by 31 December 2045, bringing forward the end of one of the world’s largest philanthropic institutions. The decision marks a significant acceleration in Gates’ lifetime giving, as he pledges to divest 99% of his pe...
By Jemimah Wellington, JKNewsMedia Reporter BORROWINGS BY Nigerian banks from the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) plunged 97.6 percent month-on-month in April 2025, dropping to N380 billion from a staggering N16.5 trillion in March. The steep fall signals a significant improvement in banking system liquidity, a...
By Ajibola Olaide, JKNewsMedia Reporter A NATIONWIDE crackdown on unregistered businesses looms after Nigeria’s Corporate Affairs Commission (CAC) issued a stern six-week compliance ultimatum, warning that those operating without proper registration risk imprisonment or legal action. CAC Cites Criminal Offences Under Companies Act. In a public...
By Jemimah Wellington, JKNewsMedia Reporter UNION BANK of Nigeria has secured a major reprieve as the Supreme Court of Nigeria set aside a Federal High Court judgement that had awarded over N22trillion against the financial institution and other parties, ending a legal contest that had dragged on for a quarter of a century. The ruling [&helli...
By Ajibola Olaide, JKNewsMedia Reporter THE WORLD Bank has forecast a troubling increase in poverty levels in Nigeria over the next five years, projecting a rise of 3.6 percentage points by 2027. The projection, revealed in the Bank’s latest Africa’s Pulse report, comes during the ongoing Spring Meetings of the International Monetary Fu...
