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...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s FEDERAL Government announces it has raked in over N6.9 billion from mining-related fees and registered 118 new private mineral buying centres within the first quarter of 2024. This is marking a surge in regulatory engagement and investor interest across Nigeria’s solid minerals secto...
By Jemimah Wellington, JKNewsMedia Reporter OLDER SMARTPHONES will no longer support WhatsApp from 5 May 2025, as Meta begins the next stage of its global platform update, targeting devices that no longer meet the app’s minimum security and performance standards. Meta, which owns WhatsApp, confirmed the decision applies to both individual use...
By Joke Kujenya TRADE TENSIONS between the United States and the rest of the world reached new heights this week following President Donald Trump’s sweeping tariff policies. The impact of the US trade war is being felt across various sectors, with countries like China and Nigeria responding in distinct ways to the ongoing volatility. Wh...
By Joke Kujenya CLOSING 2024 with a Balance of Payments (BOP) surplus of $6.83 billion, Nigeria records a dramatic reversal from consecutive deficits of $3.34 billion in 2023 and $3.32 billion in 2022. The Central Bank of Nigeria (CBN) attributed this turnaround to a combination of bold macroeconomic reforms, stronger trade dynamics, and a re...
