Author: Ogochukwu Ndubuisi

Fidelity Bank to Empower 100 Nigeria SMEs with Digital Tools Fidelity Bank is set to empower entrepreneurs across the country with cutting-edge digital tools to streamline operations, boost productivity and drive sustainable growth. A statement by the bank on Monday said the initiative was part of its commitment to digitally transform Nigeria’s small and medium-scale enterprises (SMEs). Through the Fidelity SME Empowerment Program (FSEP), the bank will equip 100 growth-ready entrepreneurs with a comprehensive digital toolkit. The toolkits includes: a POS desktop system, access to ERPRev software, receipt printer and barcode scanner. Others include inventory and management tools; business training…

No Court Order on Sen.Natasha Akpoti-Uduaghan’s Recall – Senate Senate has for the umpteenth time said that there was no subsisting court order mandating it to recall Sen. Natasha Akpoti-Uduaghan before the expiration of her suspension. Sen. Yemi Adaramodu Chairman, Senate Committee on Media and Public Affairs said this in a statement on Sunday in Abuja. Adaramodu said the clarification became necessary following circulating claims by the suspended senator that she intends to resume at the Senate on Tuesday. He said the suspended senator hinged her resolved to resume based on the misinterpretation of recent judgment delivered by Justice Binta…

Tax Reform: C’River Sets N10bn Monthly Revenue Target The Cross River State Internal Revenue Service (CRIRS) has disclosed plans to scale up the state’s monthly revenue generation to N10 billion. Mr Edwin Okon, the Chairman, CRIRS, said at a two-day Half-year Review Session in Calabar on Friday that the plan would take effect from January 2026. Okon said that the agency would leverage newly assented federal tax laws to achieve the target. He said that CRIRS had already recorded significant progress, with a 39.7 per cent increase in revenue compared to the same period in 2024. “Between January and June…

Disease Outbreaks: NCDC Calls for Urgent Measures The Nigeria Centre for Disease Control and Prevention (NCDC) has raised alarm over a convergence of multiple infectious disease outbreaks currently affecting the country, and urged for urgent measures. The NCDC disclosed this via its official website on Friday morning, warning of significant public health risks if urgent measures are not taken. It said the country was experiencing a surge in cholera infections, while yellow fever and dengue fever cases have begun to emerge in several states. The Public Health agency said that these developments come as the nation continues to grapple with…

Senate Approves Trump’s Request to Cancel $9.4bn Foreign Aid The U.S. Senate has approved the White House’s request to cancel 9.4 billion dollars in federal spending on foreign aid and the NPR and PBS broadcasters. The late Wednesday vote of 51-48 sent the bill to the House of Representatives, which is expected to give its final approval by July 18, CNN reported. If passed, the draft law would go to President Donald Trump for a signature. In early June, House Speaker Mike Johnson announced that the White House had sent a request to Congress to cancel 9.4 billion dollars in…

Money Market Rates Mixed, Liquidity Deficit Moderates The short-term benchmark interest remained high due to a liquidity deficit in the financial system. According to data from the FMDQ, interbank rates remained high at 32.5% due to subsisting liquidity pressures in the money market due to the absence of significant inflows. The Overnight Policy Rate (OPR) increased by 8 bps to 32.25%, while the overnight lending rate dropped by 9 bps to 32.58%, AIICO Capital Limited confirmed in a note. The money market rates are expected to remain elevated as there will be no major inflow that will upturn negative liquidity…

Federal Government Reveals Plan to End Fish Importation The federal government has pledged to end Nigeria’s dependence on fish importation by boosting local production and empowering youth and women with start-up grants in the fisheries sector. Mr Adegboyega Oyetola, Minister of Marine and Blue Economy, made the commitment on Wednesday in Abuja during a consultative meeting with Fisheries Cooperative Groups. He outlined the government’s vision to transform aquaculture into a pillar of food security, employment, and export competitiveness. According to him, Nigeria must chart a new path toward self-sufficiency in fish production. “The Federal Government is fully committed to supporting…

FG, AfDB, Others Inaugurate $263.8m infrastructure Project in Abia The African Development Bank, in partnership with the Islamic Development Bank, the federal government (FG) and Abia State, has inaugurated a 263.8 million dollars Integrated Infrastructure Development Project in Abia. The AfDB said this in a statement on Wednesday in Abuja. It said that the initiative was aimed at modernising urban infrastructure, enhancing mobility and promoting inclusive, climate-resilient development in the state. “The project addresses critical infrastructure gaps in urban transport, erosion control and waste management which have long constrained mobility, public health and economic productivity in the cities of Umuahia…

NDPC Asks Court to Dismiss Meta’s Suit Challenging $32.8m Fine The Nigeria Data Protection Commission (NDPC) has prayed the Federal High Court (FHC) in Abuja to dismiss, in its entirety, a suit filed by Meta Platforms, Inc. challenging the sanctions imposed on it. The NDPC had, on Feb. 18, imposed both a remedial fee of 32,800,000 million US dollars and eight corrective orders against Meta Inc. The American multinational technology company was alleged to have violated the fundamental privacy rights of its Nigerian users with respect to behavioural advertising on Facebook and Instagram. Dissatisfied with the action, Meta Platforms Inc.,…

PIA Attracted $16bn Investments, N50.8trn Crude Revenue The House of Representatives says the enactment of the Petroleum Industry Act (PIA 2021) has yielded remarkable results with more than 16 billion dollars investment commitments and significant improvements in oil production. Mr Benjamin Kalu, Deputy Speaker, House of Representatives said this on Monday in Abuja at the 2025 General Counsel and Legal Advisers Forum for Midstream and Downstream Petroleum Companies in Nigeria. The forum, organised by the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has its theme as ‘Advancing a Collaborative Compliance Culture in Nigeria’s Midstream and Downstream Petroleum Sectors’. Kalu said…