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Summit Bank Hits N15.3bn Capital Base Ahead of Deadline

06.02.2026
Summit Bank has confirmed that its regulatory capital base has reached N15.3bn, exceeding the Central Bank of Nigeria’s minimum requirement for regional non-interest banks and positioning the lender for sustained growth ahead of the 31 March 2026, recapitalisation deadline. The bank said its capital position, as of 21 May 2025, had been validated by the...
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Capital gains tax in Nigeria jumps 429% to N12.18bn

06.02.2026
Capital gains tax revenue surged by about 429 per cent in December 2025 to N12.18bn, up from N2.30bn in November, as fresh tax reforms stoke expectations of a higher 30 per cent rate. Data from a Federation Accounts Allocation Committee document from the January 2026 meeting obtained by The PUNCH on Thursday showed that capital...
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Lovebite Foods Rewards Loyal Workers with N130m Bonus

06.02.2026
Lovebite Foods and Beverages Limited, a bread manufacturing company, has distributed approximately N130m to its employees as a token of appreciation for their loyalty and dedication. The atmosphere was filled with jubilation as the workers were given various cheques for their loyalty during the company’s 2026 Annual Workers’ Appreciation Party, held at the company’s head...
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Planet Bottling Reaffirms Quality and Affordability

06.02.2026
Planet Bottling Company has reaffirmed its commitment to delivering top-quality beverages at affordable prices as it celebrated its distributors for driving growth in three years of operations in Nigeria. The company celebrated its distributors on Thursday at its business forum held in Lagos during a gathering of stakeholders. The company’s leaders hailed the stakeholders’ contributions...
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Firm empowers SMEs with AI-based payment technology

06.02.2026
Nearpays, the fintech platform founded by Victor Daniyan, is transforming how small businesses across Africa accept payments by introducing AI-powered Soft POS and contactless payment solutions. The platform allows merchants to process transactions with the speed and reliability of traditional POS terminals, without the need for bulky hardware. Speaking about the motivation behind Nearpays, Daniyan,...
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Supacash Promotes Valentine’s Day Generosity Amid Hardship

06.02.2026
A digital payment platform, Supacash, has urged Nigerians to embrace small acts of generosity this Valentine’s Day, saying even modest gifts can create a meaningful impact amid growing economic hardship. The firm launched a Valentine’s Day initiative tagged #100kSmilesChallenge, which began on 3 February 2026, with the aim of reaching 100,000 Nigerians through small cash...
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HitchPay Hits $2M in Cross-Border Payments Across Africa

06.02.2026
Lagos-based fintech startup HitchPay has processed over $2m in transactions in the past four months, underscoring rising demand for streamlined cross-border payments among African businesses and diaspora communities. The platform, which counts more than 20,000 active users, is growing at a rate of 22 per cent month over month, according to company data, reflecting strong...
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AfriMillions Unveils N1bn Weekly Lottery in Nigeria

06.02.2026
AfriMillions has launched a N1bn weekly progressive lottery. The brand unveiled its first Mega Jackpot Draw in a live broadcast on Wazobia Max TV, in what it described as a major step in Nigeria’s digital lottery space. According to a statement, the inaugural draw, which also aired on radio through a simulcast, took place under...
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5Alive unveils new products, Mango and Cocopine, in Nigeria

06.02.2026
5Alive has unveiled two new products, Mango and Cocopine, as it refreshes its portfolio to deepen engagement with what it describes as “Nigeria’s most expressive generation”. The juice brand said in a statement that the launch reflects its commitment to evolving with consumer tastes while delivering refreshment. Senior Director of Frontline Marketing, Nigeria, at Coca-Cola,...
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Manufacturers Sue CBN, Banks Over Unpaid FX Sale Dispute

06.02.2026
Not all manufacturing companies have received payment for their unpaid foreign exchange forward contracts. These companies’ unsettled FX backlogs have continued to incur losses too big to bear, the Manufacturers Association of Nigeria has said. MAN’s advocacy comes despite the Central Bank of Nigeria’s declaration that it had concluded the settlement of all valid backlogs....
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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
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

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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