Author: Ogochukwu Ndubuisi

CPPE Backs CBN for Holding Monetary Policy Rates The Centre for the Promotion of Private Enterprise (CPPE);has praised the Central Bank of Nigeria (CBN) for retaining key monetary policy parameters at the 305th MPC meeting. Dr Muda Yusuf, CPPE Chief Executive Officer, in a statement on Wednesday, described the decision as pragmatic and reflective of prevailing inflationary realities confronting the Nigerian economy. The Monetary Policy Committee (MPC) retained the Monetary Policy Rate (MPR) at 26.5 per cent during its latest policy meeting held in Abuja. The committee also retained the Cash Reserve Ratio at 15 per cent for merchant banks…

Fubara Withdraws from Rivers APC Governorship Primaries Gov. Siminalayi Fubara of Rivers has withdrawn from the All Progressives Congress (APC) gubernatorial primaries ahead of the 2027 governorship election in the state. Fubara announced his decision in a statement he issued to Journalists in Port Harcourt on Wednesday. Fubara said his move followed “deep reflection and extensive consultations” with his family, friends, and associates. The governor said he decided in the interest of peace, stability, and unity of Rivers people. “Leadership is ultimately about sacrifice. There comes a time when personal ambition must yield to the greater good of the people.…

Wema Bank’s Profit Surges to N221.9bn as Tier 1 Ambition Grows Wema Bank Plc says it is intensifying efforts to join Nigeria’s tier-one banking group in the near term, through strong earnings growth, fresh capital inflows and a strategic expansion drive. The Managing Director and Chief Executive Officer, Mr Moruf Oseni, gave the assurance on Wednesday at the bank’s Annual General Meeting (AGM) in Lagos. He said that the institution had recorded a deliberate and consistent improvement in profitability over the past three years. Oseni said management and staff were intentionally positioning the bank for top-tier status, pointing to a…

NCDC Debunks Ebola Rumours The Nigeria Centre for Disease Control and Prevention (NCDC) said Nigeria has not recorded any confirmed Ebola case linked to the current regional outbreak. The agency said surveillance and preparedness activities remained active nationwide to promptly detect any possible infections. The centre, in a Wednesday statement issued in Abuja, said it was responding to misinformation circulating about the outbreak by providing verified facts about Ebola transmission, prevention, symptoms, and the country’s preparedness measures nationwide. It said rumours claiming Ebola was already spreading widely in Nigeria were false, emphasising that no confirmed cases existed. At the same…

Lagos Unveils N10bn Loan to Cooperative-Based MSME’s Lagos State have inaugurated N10 billion Lagos State Access to Finance for Micro, Small, and Medium Enterprises (MSMEs), to expand access to finance for small businesses. The Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, disclosed this on Wednesday during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre, Alausa, Ikeja. According to her, the initiative provides up to N10 million non-collateralised loans to cooperative-based MSMEs at a single-digit interest rate of nine per cent per annum through its LASMECO programme. She added that the state had already…

PenCom, NLC to Begin Crackdown on Pension Defaulters in Lagos The National Pension Commission (PenCom) and the Nigeria Labour Congress (NLC) Lagos Council will begin enforcement against pension defaulters under the Contributory Pension Scheme from June 1. The NLC Lagos Council Chairperson, Funmi Sesi, disclosed this after an interactive session organised by PenCom in Lagos on Tuesday. The session focused on the workings of the Contributory Pension Scheme (CPS) and sensitised labour leaders on pension compliance obligations under the Pension Reform Act. Sesi condemned the continued failure of some government agencies and private employers to remit deducted pension contributions to…

World Bank to Scale up Africa Guarantees to $6.4bn by 2030 The World Bank Group says its Guarantee Platform aims to double its annual issuance of guarantees in Africa to 6.4 billion dollars by 2030. A statement by the bank on Wednesday says the initiative is expected to improve the lives of no fewer than 190 million people over the next four years. The World Bank Group Guarantee Platform is a centralised, “one-stop shop” that consolidates all guarantee and risk insurance products across the World Bank Group. Hosted by the Multilateral Investment Guarantee Agency (MIGA), it combines the experts and…

Nigeria Customs Launches Smart Declaration System to Curb Airport Delays The Nigeria Customs Service (NCS) has officially unveiled the Simplified Customs Advanced Declaration System (SCADS) at the international wing of the Nnamdi Azikiwe International Airport, Abuja. The move is aimed at improving passenger clearance, compliance, and customs operations. A statement on the inauguration was made available to newsmen by the NCS spokesperson, Abdullahi Maiwada, in Abuja on Tuesday. Maiwada explained that the platform, designed to simplify baggage declaration for inbound international passengers, aims to reduce manual bottlenecks, improve transparency in revenue assessment, and enhance operational efficiency at Nigeria’s international airports.…

Ebola Outbreak: WHO Records 500 Suspected Cases, 130 Deaths in DRC UN World Health Organisation (WHO) says it has recorded more than 500 suspected cases, including 130 suspected deaths, in the Democratic Republic of Congo (DRC) Ebola outbreak so far. WHO’s representative in DRC, Dr Anne Ancia, told reporters in Geneva on Tuesday that only 30 cases had been confirmed in the country so far from the suspected deaths. She said the agency was working closely with the authorities and rushing more testing kits to eastern DRC to identify cases of infection of Bundibugyo virus, a species of Ebola virus…

The Nigerian Exchange (NGX) All-share index (ASI) climbed as BUA Cement, FirstHoldco, Zenith Bank, among others, rode a positive wave, boosting the local bourse’s market capitalisation.