Author: Ogochukwu Ndubuisi

LOTUS Bank, REA Partner on N100bn Renewable Energy Financing Push LOTUS Bank, one of Nigeria’s leading ethical, non-interest banking service providers, has partnered with the Rural Electrification Agency to expand renewable energy access in underserved communities, promoting sustainable development and inclusivity. The Managing Director/CEO of LOTUS Bank, Dr Isiaka Ajani-Lawal, said this in a statement on Tuesday in Abuja. According to him, LOTUS Bank signed a Memorandum of Understanding with REA, under which it will provide accessible funding of up to N100bn to empower certified Renewable Energy Service Companies. The managing director reaffirmed the bank’s commitment to inclusive, sustainable development…

Lagos Approves 13% BRT Fare Rise The Lagos State Government has approved a 13 per cent increase in fares across Bus Reform Initiative schemes, covering Bus Rapid Transit (BRT) and standard routes. The Head of Corporate Communication, Lagos Metropolitan Area Transport Authority (LAMATA), Mr Kolawole Ojelabi, disclosed this in a statement issued on Monday. Ojelabi said Gov. Babajide Sanwo-Olu approved the increase after appeals from regulated operators over mounting economic pressures threatening operational sustainability. “The new fare structure will take effect from Monday, March 2,” he said. He explained that the adjustment was aimed at cushioning the impact of sustained…

Alleged N6bn Money Laundering: Mompha Challenges Court Ruling Social media celebrity, Ismaila Mustapha, popularly known as Mompha, on Monday challenged the ruling of an Ikeja Special Offences Court over alleged six billion naira money laundering charges. Mompha is facing trial alongside his company, Ismalob Global Investment Ltd. They are being tried on an eight-count charge bordering on conspiracy to launder unlawfully obtained funds, retention of crime proceeds, and non-disclosure of assets. He was arraigned on Jan. 12, 2022, and is being tried in absentia. When the case was called on Monday, Mompha’s lawyer, Mr Kolawole Salami, informed the court that…

Nigerian Exchange (NGX) market capitalisation inched near N126 trillion on Monday, as equities investors gained more than N791 billion in an ongoing bargain hunting.

Lao Central Bank Lowers Interest Rate to Support Financial Stability Laos’ central bank has decided to reduce its seven-day basic interest rate from 8.5 per cent to 8 per cent in a move aimed at maintaining monetary stability. The decision was approved at the first Monetary Policy Committee meeting of 2026, held in Vientiane, according to a statement releasedon Monday by the Bank of the Lao PDR. The committee reviewed the performance of monetary policy tools and discussed future policy directions, noting continued global uncertainty that has fueled volatility in fuel, energy, gold and food prices. It is expected to…

El-Rufai Files N1bn Suit Against ICPC Former Gov. Nasir El-Rufai of Kaduna State has filed a N1 billion fundamental rights enforcement suit against the Independent Corrupt Practices and Other Related Enforcement Commission (ICPC) over alleged unlawful invasion of his Abuja residence. El-Rufai, through his team of lawyers led by Oluwole Iyamu, SAN, prayed the court to declare that the search warrant issued on Feb. 4 by the Chief Magistrate, Magistrate’s Court of the FCT (2nd respondent), authorising the search and seizure at his residence was invalid, null and void. He urged the court to declare that the search warrant was…

Cambodia National Bank Suspends Commercial Bank Operations Over Financial Deterioration Cambodia’s central bank has suspended the operations of Panda Commercial Bank after determining that the lender’s financial condition had significantly deteriorated, raising concerns over its ability to continue providing services. In a statement on Monday, the National Bank of Cambodia (NBC) said prudential supervision had found that the bank’s worsening financial situation would lead to an inability to carry out normal banking operations. The NBC appointed Morisonkak MKA Audit-Accounting Co., Ltd. as the provisional administrator and liquidator. The firm had been granted authority to manage and control all operations and…

Trump Renews Attack on U.S. Supreme Court, Vows Other Tariffs, Licenses President Donald Trump renewed his condemnation of the U.S. Supreme Court on Monday after it ruled against his sweeping tariff programme. He vowed to turn to other tariffs’ powers and licenses but gave no details. Trump said on Saturday he would raise a temporary tariff from 10 per cent to 15 per cent on U.S. imports from all countries, the maximum level allowed under the law. This came a day after the court ruled that Trump had exceeded his presidential authority when he imposed an array of higher tariff…

Mugabe’s Son Appear in Court on Attempted Murder Charge The youngest son of Zimbabwe’s former leader Robert Mugabe appeared in a South African court on Monday, charged with attempted murder. The arrest came after a gardener was shot and wounded last week at the Johannesburg mansion where Mugabe’s son had been staying. Bellarmine Chatunga Mugabe was not asked to enter a plea. The case against him and a second suspect was postponed until March 3 to allow for further investigations. Chatunga, believed to be in his late 20s, will remain in custody until his next court appearance, the court heard.…

The Debt Management Office (DMO) is set to open N800 billion worth of Federal Government of Nigeria (FGN) bonds for subscription on Monday.