The indefinite strike by primary school teachers in the Federal Capital Territory (FCT) has entered its 86th day, with public education in over 400 schools across the six Area Councils still at a standstill. The strike, which resumed on March 24, 2025, was triggered by the failure of Area Council chairmen to implement the N70,000 minimum wage agreement and settle outstanding allowances, despite a tripartite Memorandum of Understanding (MoU) signed on December 11, 2024. In response to the prolonged inaction, the FCT chapter of the Nigeria Labour Congress (NLC) issued a seven-day ultimatum to the FCT Administration in a letter…
Author: Elvis Eromosele
Fidelity Bank has announced plans to exit all Central Bank of Nigeria (CBN) regulatory forbearance arrangements by the end of the first half of 2025, positioning itself to resume dividend payments for the 2025 financial year. In a statement issued on Wednesday and signed by Ezinwa Unuigboje, the Company Secretary, the bank confirmed that its current forbearance under the Single Obligor Limit (SOL) relates to two obligors. However, it expressed confidence that these exposures will be brought within CBN limits by June 30, 2025. The bank also disclosed that forbearance granted on other credit facilities applies to four customers. It…
Innocent Ohagwa, newly inaugurated president of the Chartered Institute of Taxation of Nigeria, has urged tax professionals to take special interest in the tax reform bills as he highlighted inherent opportunities. Ohagwa made this call during his acceptance speech at his investiture ceremony held in Lagos. The Nigerian tax reform bills, including the Nigeria Tax Bill, the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Administration Bill, and the Joint Revenue Board (Establishment) Bill, aim to modernise the Nigerian tax system and improve revenue collection. These bills have been passed by the National Assembly and are now awaiting presidential assent. …
First Bank HoldCo Plc has disclosed that it spent over ₦15 billion to protect its banking systems from cyberattacks between January and June this year, as digital threats to financial institutions continue to rise across Nigeria. Mr. Olusegun Alebiosu, chief executive officer of the bank, revealed this on Wednesday while speaking on the sidelines of a two-day National Seminar on Banking and Allied Matters for Judges, held in Abuja. Alebiosu said the bank invested ₦3 billion in cybersecurity measures in June alone, part of a broader commitment to safeguarding customer assets and maintaining trust in Nigeria’s banking system. The News…
…********Mobile Clinics, Free Medical Outreach, and Maternity Care Reach Over 1,000 Families in 2025 “Month of Good” Initiative BetKing, a leading sports betting and entertainment brand, is proud to announce the successful completion of its 2025 employee-led CSR initiative, BetKing Cares, themed “Month of Good.” The month – long campaign, held from May 17th to June 17th, delivered vital support in healthcare, nutrition, and maternal wellbeing to communities across Lagos, Osun, Abia, and Bayelsa states. This year, the initiative expanded its reach and impact by deploying mobile clinics to underserved areas. These mobile health units provided on-the-spot medical consultations, screenings, and treatment, ensuring accessibility…
The Federal Government of Nigeria, through the Debt Management Office (DMO), has released details of its June 2025 bond offer, seeking to raise a total of N100 billion from the domestic debt market. According to a statement released by the DMO on Tuesday, the auction is scheduled to take place on June 23, 2025, with a settlement date of June 25, 2025. The bond issuance includes a N50 billion 5-year re-opening bond and a N50 billion 7-year new bond offering and is part of the government’s ongoing efforts to finance the 2025 budget and manage public debt through domestic borrowing.…
WhatsApp on Monday unveiled its most ambitious advertising strategy to date, marking a significant transformation for the messaging platform that has largely avoided traditional ads since its inception. The announcement signals a strategic shift for the Meta-owned app, which has long promoted itself as a private, ad-free environment for personal messaging. The new features represent Meta’s clearest move yet to monetize WhatsApp’s vast user base of over two billion monthly active users without compromising its core promise of privacy. The update comes less than two years after WhatsApp’s leadership firmly denied reports that it was considering integrating advertisements, amid public…
Samer Chedid, CEO of Nestlé Indonesia has been appointed CEO of Nestlé Central and West Africa (CWAR) replacing Mauricio Alarcón who has taken on a new role within the Nestlé group. A business leader with diverse experiences across Nestlé including Middle East, Asia, and Africa, Mr. Chedid is no stranger to CWAR as he previously served as Country Manager for Nestlé Ghana. In his new role, he will steer affairs of the business across 25 countries in CWAR. “I am delighted to return to a region that has been a part of my career within the Nestlé group. Together with…
Nigeria’s dependence on imported petrol dropped sharply in the first quarter of 2025, with the country’s petrol import bill falling by 54 per cent year-on-year, according to the National Bureau of Statistics (NBS). The sharp decline is largely due to increased domestic supply from the Dangote Petroleum Refinery, which is now operating at near-full capacity, significantly reducing the country’s reliance on foreign fuel. The latest NBS data shows Nigeria spent $1.2 billion on petrol imports in Q1 2025, compared to $2.6 billion in the same period last year — the lowest quarterly figure since 2020. This underscores the growing impact…
Nigeria’s headline inflation rate slowed for the second consecutive month to 22.97 percent in May 2025 from 23.71 percent in April according to the National Bureau of Statistics (NBS). On a month-on-month basis, inflation declined significantly to 1.53 percent in May from 1.86 percent in April, indicating a slower pace in the rise of prices across the economy. This easing in inflation was driven by a slowdown in price increases across key segments, including farm produce, utilities, clothing, and health. Food inflation declined to 21.14 percent in May from 21.16 percent in April. According to the NBS, this sharp decline…