U.S. President Donald Trump has cancelled a planned delegation to Pakistan for peace talks with Iran, citing internal divisions among Iranian leaders and what he described as a waste of time. In a post on Truth Social, Trump said the trip to Islamabad had been called off due to “too much time wasted on traveling” and confusion within Iran’s leadership. “If they want to talk, all they have to do is call,” he added, insisting the United States holds the advantage in the stalled negotiations. The now-cancelled mission was expected to include Trump’s son-in-law Jared Kushner and special envoy Steve…
Author: Elvis Eromosele
The Central Bank of Nigeria (CBN) has scrapped card maintenance charges on naira-denominated debit and credit cards and introduced zero fees for electronic transfers of ₦5,000 and below, in a major overhaul of banking charges aimed at reducing costs and boosting financial inclusion. The changes are outlined in a revised Guide to Charges by Banks and Other Financial Institutions, which takes effect from May 1, 2026, replacing the 2020 framework. Under the new structure, customers will pay no fees for transfers of ₦5,000 and below. Transfers between ₦5,000 and ₦50,000 will attract a ₦10 charge, while transactions above ₦50,000 will…
The Nigeria Customs Service (NCS) and the Royal Malaysian Customs Department (RMCD) have taken steps to strengthen bilateral cooperation on trade facilitation and border management, as trade between both countries continues to expand. This followed an official visit by Bashir Adewale Adeniyi, the Comptroller-General of Customs, to the RMCD headquarters in Malaysia on the sidelines of the DSA Malaysia 2026. The engagement comes amid significant growth in trade relations between the two countries. Nigeria’s imports from Malaysia rose from N159.9 billion in 2020 to N716.0 billion in 2024, with cumulative trade estimated at N1.82 trillion over five years. During the…
The Ogun State Government has inaugurated a state-of-the-art manufacturing facility owned by Summit Household Solutions Limited in Ota, in a move expected to deepen local production capacity and enhance hygiene standards across Nigeria. The facility, which commenced operations in April 2025, is dedicated to the production of home and personal care products such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an estimated annual output of 7,000 tonnes. Summit Household Solutions Limited, a Nigerian FMCG company, produces the popular 2Sure brand and has expanded its portfolio to include Lewar, a premium beauty soap line designed to offer quality…
CP Bode Ojajuni, psc, FCSS, MNIPR, the Commissioner of Police, Ogun State Command, received Prof. Fatiu Abiola Arogundade, MD, FMCP, the Vice Chancellor, Federal University of Medicine and Medical Sciences, Abeokuta, and his management team at the Command Headquarters, Eleweran, Abeokuta. The visit emphasised the importance of strengthening collaboration between the Nigeria Police Force and academic institutions, particularly in ensuring the safety and security of students, staff, and critical infrastructure within the university community. Discussions also focused on proactive measures to address security concerns and enhance intelligence sharing between the institution and the police. CP Ojajuni appreciated the Vice Chancellor…
In politics, grand claims are often dismissed as harmless rhetoric. In public finance, they matter. So when President Bola Tinubu said in September 2025, “Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August.” He made a sweeping statement about the country’s finances. Three months later, Finance Minister Wale Edun told lawmakers something very different: that the government would likely miss its 2025 revenue target by about ₦30 trillion and had already borrowed roughly ₦14.1 trillion to cover the gap. Both statements were reported. The issue is whether both can be…
A Federal High Court in Abuja has affirmed the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to regulate consumer protection issues in the banking sector, dismissing a suit filed by United Bank for Africa (UBA) and imposing a N2 million fine on the lender. In a landmark ruling, Justice James Omotosho upheld the Commission’s statutory powers to investigate complaints involving banks and other financial institutions, reinforcing FCCPC’s role as the primary agency for consumer protection in Nigeria. UBA had approached the court in suit number FHC/ABJ/CS/1972/2025, seeking clarity on whether the FCCPC could exercise jurisdiction over a…
MTN Nigeria has announced plans to compensate affected subscribers following a directive from the Nigerian Communications Commission (NCC), while reaffirming its commitment to improving service quality across its network. In a statement issued on Thursday, the telecom operator stated that it is fully aligning with the regulator’s directive, noting that customer satisfaction remains central to its operations. “At MTN Nigeria, our customers are the lifeblood of our business. We exist to connect Nigerians to the digital world, and we believe that every subscriber deserves a reliable, high-quality network experience,” the company stated. Describing the NCC’s intervention as timely, the company…
The Federal Government has identified post-harvest losses as a critical pressure point in Nigeria’s food system, stating that reducing wastage by just 10 per cent could significantly improve food availability and affordability. Speaking at the 2026 Post-Harvest Connect and Root, Tuber, and Banana Conference in Abuja, Abdullahi Aliyu, Minister of State for Agriculture and Food Security, said the country continues to lose a substantial portion of its agricultural output due to weak storage and poor post-harvest management. According to him, farmers lose between 30% and 40% of their produce on average, with losses rising to as much as 60 per…
Unilever Nigeria Plc has reported a strong start to 2026, posting double-digit growth across key performance indicators in its unaudited results for the first quarter ended March 31. The company recorded a 26 per cent increase in revenue to ₦59.2 billion, up from ₦46.9 billion in the corresponding period of 2025. Operating profit rose even faster, climbing 39 per cent to ₦11.5 billion from ₦8.3 billion, while net profit grew by 26 per cent to ₦7.0 billion. Tobi Adeniyi, Managing Director, described the performance as a continuation of the company’s strong momentum from the previous year. “Our Q1 2026 results…