By Adeyemi David The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to protecting bank customers and strengthening public trust in financial system following a stakeholder townhall meeting in Enugu. The corporation in a tweet on it X handle announced an increase in deposit insurance coverage to ₦5 million for commercial bank customers and ₦2…
The United Nations Economic Commission for Africa (ECA) has disclosed that Africa controls more than $1.1 trillion in domestic institutional capital that must be strategically mobilised to drive the continent’s economic transformation. Executive Secretary, Claver Gatete made the remark virtually during the Ninth Africa Business Forum organised by the commission in Addis Ababa, Ethiopia. The…
Odu’a Investment Company Limited has unveiled a new strategic roadmap, SRC 2.0 (2026–2030), setting an ambitious target of N1 trillion in total assets, N50 billion in group revenue, and N30 billion in profit before tax by the end of the decade. The strategy was presented at the company’s 2026 annual directors’ meeting held at Lagos…
Polaris Bank has unveiled a new Gift Card feature on its digital lifestyle platform, VULTe, offering users a faster, smarter way to send love, appreciation, and rewards across borders. The feature allows customers to deliver global brand gift cards to family and friends anywhere in the world in seconds. Designed for speed, security, and everyday…
Guaranty Trust Holding Company Plc (GTCO) has reinforced its commitment to sports development in Nigeria and across Africa, following the thrilling conclusion of the 2026 NPA Lagos International Polo Tournament, where Lagos STL triumphed in the prestigious Majekodunmi Cup. As headline sponsor of one of Africa’s oldest and most celebrated polo competitions, GTCO continues to…
Dangote Group has signed a $400 million agreement with China’s XCMG Construction Machinery Co., Ltd. to acquire advanced construction equipment, as it ramps up expansion of its petroleum refinery and wider industrial operations. The deal will support the expansion of the Dangote Petroleum Refinery and Petrochemicals from its current 650,000 barrels per day to 1.4…
Former Kaduna State governor, Nasir El-Rufai, was detained at the headquarters of the Economic and Financial Crimes Commission (EFCC) in Abuja on Monday night following hours of interrogation over an alleged N432 billion corruption scandal. El-Rufai, a prominent chieftain of the African Democratic Congress (ADC), is also expected to face criminal prosecution in connection with…
Nigeria’s banking sector emerged as the top destination for foreign capital in the third quarter of 2025, attracting $3.14 billion and accounting for 52.25 percent of total capital imported into the country. This is according to the Capital Importation Report for Q3 2025 released by the National Bureau of Statistics (NBS), which showed a significant…
The Federal High Court Lagos has ordered interim administration for Green Energy International Limited and Lekoil Oil & Gas Investments Limited following their alleged failure to repay a $25.5 million debt to a joint venture partner. Presiding judge, Ambrose Allagoa, granted the order after hearing an ex-parte application filed by H-PTP Energy Services Limited, which…
The Economic and Financial Crimes Commission (EFCC) on Monday interrogated former Kaduna State governor, Nasir El-Rufai, over alleged fraud linked to his administration between 2015 and 2023. El-Rufai, a chieftain of the African Democratic Congress (ADC), reportedly honoured the commission’s invitation days after his legal team confirmed he would present himself to investigators. The development…
