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The Nigeria Deposit Insurance Corporation (NDIC) has announced the recovery of an additional N24.3 billion from the assets of the now-defunct Heritage Bank Limited. These funds will help repay depositors who had account balances above N5 million when the bank’s licence was revoked. The recovery effort is part of ongoing work by the NDIC to
President Bola Ahmed Tinubu has expressed excitement over the Nigerian capital market surpassing the ₦100 trillion benchmark. In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described the development as a historic milestone and a strong signal of renewed investor confidence in the Nigerian economy. President Tinubu noted
The Rivers State Microfinance Agency (RIMA) has said its inability to effectively reach rural communities is hampering efforts to disburse government-approved micro loans to small business operators in those areas. The Managing Director of RIMA, Pastor Jonathan Tobin, disclosed this during a chat with journalists, attributing the challenge to limited manpower and inadequate logistics. According
The Coalition of Civil Society Organisations and Community-Based Groups in Rivers State has commended Governor Siminalayi Fubara for what it described as visionary leadership and a strong commitment to the growth of small and medium-scale businesses through the Rivers State Microfinance Agency (RIMA). The coalition described RIMA as a critical driver of inclusive economic growth
The Rivers State Microfinance Agency (RIMA) has disbursed a total of ₦2.346 billion to about 3,000 beneficiaries since the inception of its loan scheme in 2024. The scheme was launched by Governor Siminalayi Fubara to support small and medium-scale enterprises across Rivers State. The Managing Director of RIMA, Pastor Tobin Jonathan, disclosed this while presenting
The Federal Competition and Consumer Protection Commission (FCCPC) has warned inter-city road transport operators against arbitrary and unexplained fare increases during the ongoing yuletide travel period. In a statement signed by the Commission’s Corporate Affairs Director, Ondaje Ijagwu, the FCCPC said the caution follows a surge in consumer complaints from different parts of the country
By Paul Chimodo For years, discussions about Nigeria’s creative and business ecosystem have followed a predictable path. We celebrate talent. We highlight creativity. We speak endlessly about potential. From Nollywood to Afrobeats, from tech startups to fashion, the consensus is that Nigeria is bursting with ideas. Yet one uncomfortable truth remains largely unaddressed. Talent alone
Chairman of the Dangote Group, Aliko Dangote, has submitted a petition to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk. In the petition, filed through his lawyer, Ogwu Onoja, SAN, Dangote urged the anti-graft agency to arrest,
The Senate has passed the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper, paving the way for President Bola Tinubu to present the 2026 Appropriation Bill, estimated at ₦54.4 trillion. The passage followed the consideration and debate of a report presented during plenary on Tuesday by the Chairman of the Senate Committee on Finance,
The Federal Competition and Consumer Protection Commission (FCCPC) has seized and destroyed counterfeit, adulterated, and expired products valued at more than ₦25 million as part of its ongoing Ember Season enforcement campaign. Speaking on the development, the FCCPC South-South Zonal Coordinator, Uchegbu Chukwuma, said the exercise was undertaken to protect consumers from unsafe and substandard
