Author: Ifetayo Adeniyi

PoS withdrawal limits to N100k daily, N500k weekly PoS withdrawal limits to N100k daily, N500k weekly. Banks have begun the implementation of a daily withdrawal limit of N100,000 and a weekly limit of N500,000 on Point-of-Sale terminals. This is coming after a directive by the Central Bank of Nigeria (CBN) on December 17, 2024, to limit the daily withdrawal on PoS to N100,000 per customer and N500,000 weekly. According to CBN, the intervention is aimed at addressing identified challenges, combating fraud and establishing uniform operational standards across the industry. An email by Union Bank to customers on the implementation of…

Mali, Burkina Faso, Niger about to reveal unifying passport Mali, Burkina Faso, Niger about to reveal unifying passport Junta-led allies Mali, Burkina Faso and Niger on Thursday announced that their own common passport will come into effect from January 29, the date of their departure from regional bloc ECOWAS. After overthrowing civilian governments between 2020 and 2023, the military leaders in the three west African countries have teamed up to form the Confederation of Sahel States (AES). On January 28 last year, the trio announced their withdrawal from the Economic Community of West African States, which they accused of being…

Bauchi First Lady’s Foundation Strengthens, Empowers 723 Dr. A’isha Bala Mohammed Bauchi First Lady’s Foundation Strengthens, Empowers 723. • Initiative to provide an avenue for financial independence and a sense of hope and purpose. Bauchi First Lady’s Foundation Strengthens, Empowers 723 people. About 723 women across the 20 local government areas of Bauchi State were economically empowered by the Almuhibbah Foundation, a brainchild of the wife of the state Governor, Dr. A’isha Bala Mohammed. Speaking at the flag -off of Almuhibbah Foundation Women and Youth Empowerment Programme yesterday, Aisha Mohammed said that it is one of the foundation’s mission and…

Ebonyi varsity gets NUC approval Ebonyi State Governor, Francis Nwifiru Ebonyi varsity gets NUC approval. The National Universities Commission has approved the establishment of Ebonyi State University of ICT, Science and Technology, Oferekpe. Presenting a letter of recognition of the new university to Ebonyi State Governor, Francis Nwifuru, on Thursday, the Executive Secretary of NUC, Prof. Abdullahi Ribadu, said the institution is now recognised as the 66th state university in Nigeria and the 278th in the Nigerian University System. He said a copy of the recognition letter would be forwarded to the Joint Admissions and Matriculation Board, the Tertiary Education…

Moniepoint, Visa unite to empower African businesses Moniepoint, Visa unite to empower African businesses Moniepoint has secured a strategic investment from Visa, a global payment company, to drive its expansion across Africa and empower businesses with innovative payment solutions. The investment follows the company’s highly successful $110 million series C funding round, which tripled its valuation to over $1 billion in October 2024. The nine-year-old fintech said in a statement on Thursday that the partnership combines its local expertise and innovative business model with Visa’s global resources and capabilities. Both firms aim to accelerate the digital transformation of African SMEs,…

Bloomberg fills vacuum, funds UN climate body after US pull out Climate change/ Shutters Bloomberg fills vacuum, funds UN climate body after US pull out Billionaire entrepreneur Michael Bloomberg announced Thursday that his foundation would step in to fund the United Nations climate change body after United States President, Donald Trump declared that the nation would withdraw from the Paris Agreement for the second time. Bloomberg’s intervention aims to ensure the United Nations Framework Convention on Climate Change remains fully funded despite the US halting its contributions. Washington typically provides 22 per cent of the UNFCCC secretariat’s budget, with the…

Presidency Energy Sector Wrap-Up 2024: A $7bn investment received Special Adviser to the President Bola Tinubu on Energy, Olu Verheijen Presidency Energy Sector Wrap-Up 2024: A $7bn investment received The Special Adviser to the President on Energy, Olu Verheijen, has revealed that Nigeria’s energy sector received injections worth $6.7bn in 2024. Verheijen revealed this in a report titled ‘Presidency Energy Sector Wrap-Up 2024′ released by her office on Wednesday. According to the report, $5.5bn of the total investment went into the oil and gas sector. $400m of the Federal Government’s funds went into the presidential metering initiative, while its Clean…

PETROAN employs Ogoni youths to support resumption of oil production PETROAN employs Ogoni youths to support resumption of oil production The Petroleum Products Retail Outlets Owners Association of Nigeria has called on Ogoni youths to support the resumption of oil production in Ogoniland. The body made the call on Thursday in a statement by its National Public Relations Officer, Dr. Joseph Obele, following a meeting between President Bola Tinubu and Ogoni delegates in Abuja earlier in the week. To ensure that the concerns of all stakeholders are addressed, PETROAN suggested that the Ogoni delegates organise town hall meetings in all…

Glo Festival Of Joy Winners Receive Prizes In Abuja Glo Festival Of Joy Winners Receive Prizes In Abuja Abuja, the nation’s federal capital, came alive with joy and excitement on Wednesday as a new set of winners in the ongoing Globacom Festival of Joy promotion received mouth-watering prizes they won at a special presentation ceremony held at the premises of Globacom at Aminu Kano Crescent. A glittering brand new Toyota Prado, a brand new Kia Picanto, tricycles (Keke Napep) and scores of other prizes including power generating sets, sewing machines and grinding machines were handed over to joyful winners. Sarah…

WEMA BANK ANNOUNCES FINAL TRANCHE OF CAPITAL RAISE EXERCISE WEMA BANK ANNOUNCES FINAL TRANCHE OF CAPITAL RAISE EXERCISE Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced that it will be completing its capital raise through a combination of a Rights issue and Special placement exercise set to go live on April 1, 2025, with the goal of raising N200 billion in fresh capital. This would mark the second and final tranche of the Bank’s capital raise exercise, supplementing the N40 billion raised in the first tranche, and ensuring the Bank…