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N1.6tn Infrastructure Funding: States Receive FG Support

01.07.2025
State governments and the Federal Capital Territory received a total sum of N1.6tn from the Federal Government between March 2024 and May 2025 as financial support for infrastructure and security projects, official records from the Office of the Accountant-General of the Federation have shown. The disbursement, which spanned over 15 months, was aimed at bolstering...
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Sterling Bank Profit Surges 102% to ₦43.68bn in 2024

01.07.2025
Sterling Financial Holdings Company Plc has announced a 102 per cent increase in profit after tax for the 2024 financial year, with earnings rising to ₦43.68bn from ₦21.58bn in 2023. The company disclosed this in its audited full-year financial results for the year ended December 31, 2024, released on Sunday. The results showed significant improvements...
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Nigeria Unveils Local Content Procurement Framework

01.07.2025
The Nigerian Content Development and Monitoring Board has said it is finalising a new procurement framework known as the Nigeria First Procurement Policy, aimed at prioritising local content participation in the oil and gas value chain and ensuring energy sufficiency. This effort, which aims to deepen the Federal Government’s First Policy and was announced by...
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Nigerian Stock Market Gains N5.32tn in June

01.07.2025
The Nigerian Exchange closed the month of June with a gain of N5.32tn as investor appetite for stocks remained strong, but trading opened in the red on the last day of the month with a marginal decline in the benchmark index. At the close of trading on Monday, the All-Share Index fell by 17.19 points...
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NCAA Grounds Rano Air Plane

01.07.2025
The Nigeria Civil Aviation Authority has grounded a Rano Air aircraft with registration number 5N-BZY in Kano State, following an in-flight engine failure observed in its engine 1. Industry experts commended the move by the regulator, stating that it was crucial to not only check the airline but to forestall such developments in the future....
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Furniture Industry Faces FX Volatility, Inflation

01.07.2025
The Managing Director, Lifemate Furniture, Mr Liu Lihua, has decried the rate of foreign exchange and inflation volatility plaguing the furniture industry. He disclosed this during the company’s raffle draw competition to mark its 19th year anniversary, which was held at the company’s office in Oregun, Ikeja, recently. He said, “Foreign exchange and inflation have...
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Banks to Gain Despite 4% Levy

01.07.2025
Nigeria’s new tax laws introduce sweeping reforms aimed at modernising the country’s fiscal landscape. A key change is the introduction of a unified four per cent development levy, which replaces several existing levies. OLUWAKEMI ABIMBOLA explores the potential impact of this consolidation on banks’ profitability and beyond The portion of profits that banks can retain...
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Nigerian Banks Embrace AI for Financial

01.07.2025
The Association of Chief Compliance Officers of Banks in Nigeria has called for the adoption of artificial intelligence and advanced technologies in risk management to enhance financial integrity. The call was made during ACCOBIN’s 2025 Annual Stakeholders’ Conference held in Lagos under the theme ‘Beyond Compliance: AI, Risk, and the Future of Financial Integrity’. Stakeholders...
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Bond Yields Dip 18.38%: Nigeria Bond Market Rally

01.07.2025
Nigeria’s bond market sustained its bullish momentum last week, as investors showed increased appetite for sovereign debt instruments, pushing average yields down by 19 basis points to 18.38 per cent from 18.57 per cent recorded in the previous week. The bullish sentiment was driven largely by strong demand for specific longer-dated instruments, notably the JAN-35,...
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NGX Trades Hit N9tn: Local Investors Dominate

01.07.2025
Local investors, particularly domestic institutional players, have continued to dominate Nigeria’s equity market, driving N7.15tn of the N9tn total transactions recorded on the Nigerian Exchange Limited between January 2024 and May 2025. According to NGX data, domestic participation accounted for about 80 per cent of total trades, with foreign investors contributing N1.85 tn. The surge...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
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Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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