Abuja, Oct. 15, 2035 – The European Union has approved a €190 (about N320.5bn) credit line to Nigeria to expand lending to farmers and agribusinesses through Nigerian commercial banks and development finance institutions. Bolaji Adeniyi, the Special Adviser to the Minister of Budget and Economic Planning, disclosed this in a statement. The statement said the facility, to be provided by the European Investment Bank (EIB), was announced during a bilateral meeting between senior EIB executives and a delegation from Nigeria the just concluded Global Gateway Forum in Brussels, Belgium. …
Fidelity bags awards for Best Export, Trade Support and Innovation
Lagos, Oct. 14, 2025 – Fidelity Bank’s market leadership has been reaffirmed again as the tier-one lender bagged double honours at the BusinessDay Bank and Other Financial Institutions’(BAFI) Awards 2025. At the awards ceremony, which was held at the Lagos Continental Hotel, Victoria Island, Lagos on Saturday, Oc. 11, 2025, Fidelity Bank was presented with the awards for the “Best Bank for Export & Trade Finance” and “Most Innovative Bank of the Year”. Nneka Onyeali-Ikpe, the bank’s Chief Executive, who dedicated the Export and Trade Finance Award to its …
NAICOM seeks regional cooperation to address escalating climate change-induced risks
Lagos, Oct. 14, 2025 – The National Insurance Commission (NAICOM) has called on West African countries to jointly strengthen financial instruments and deepen regional collaboration to address the escalating risks associated with climate change in the subregion Olusegun Omosehin, the Commissioner for Insurance and Chief Executive of NAICOM, made the call in Lagos on Monday at the 2025 West Africa Insurance Companies Association (WAICA) Education Conference. He said traditional budgetary measures were no longer sufficient to address the magnitude of climate-induced challenges facing the region. NAICOM boss said climate-related risks required …
IMF upgrades Nigeria’s economic growth rate in 2025 to 3.9%
Washington, Oct. 14, 2025 – The International Monetary Fund (IMF) has reviewed upward its forecast on Nigeria’s economic growth in 2025 to 3.9% It also upgraded the forecast for 2026 to 4.2% The IMF announced the new projections in the latest edition of its World Economic Outlook (WEO) Report released on Tuesday at the ongoing world Bank/IMF meetings in Washington, United States. Deniz Igan, the IMF Divisional Head, Research Department, while speaking at a press conference at the meeting on Tuesday, attributed the upward review of the forecast to …
Crypto market sheds $150bn as China hits back at US
London, Oct. 14, 2025 – Cryptocurrencies continued to lose ground after a historic round of liquidations that triggered a sharp selloff over the weekend. Bitcoin, the largest digital asset by market value, slumped as much as 3.75% to about $111,500 on Tuesday morning in London, while Ether fell 7.5% to below $4,000, according to data compiled by Bloomberg. Smaller, more volatile tokens sank further still, dragging the combined market value of all cryptocurrencies down by more than $150 billion over a 24-hour period, according to CoinGecko data. The slide …
Naira depreciates at official market Monday, closing at N1,460 to dollar
Lagos, Oct. 14, 2025 – The Nigerian currency, the Naira, depreciated slightly at the official foreign exchange market on Monday, closing at N1,460 to the dollar. The naira exchange rate at the market on Friday was N1,458 to the dollar. Bid rate quoted by dealers on Monday ranged from N1,448 to N1,463.50 to the dollar Meanwhile, the Naira, is being traded at between N1,490 and N1,495 to the dollar at the black market in Lagos. The Nigerian currency has been appreciating consistently at the official market since it crossed …
Exponential 111% surge in states’ allocations, an achievement of Tinubu’s economic reforms – TDF
Abuja, Oct. 13, 2025 – The Democratic Front (TDF) has described the 111% increase in allocations to states as a major milestone in the ongoing economic reforms of the President Bola Tinubu administration. In a statement signed by its Chairman, Mallam Danjuma Muhammad, and Secretary, Chief Wale Adedayo, TDF said states were now better placed than ever before to support the federal government’s efforts to improve the well-being of the people. ”We received the heartwarming news of a 111% increase in fund allocations to state governments from the …
Polaris Bank wraps up 2025 Customer Service Week with renewed commitment to customer satisfaction
Lagos, Oct. 13, 2025 – Polaris Bank has rededicated itself to delivering exceptional customer experience as demonstrated during its 2025 Customer Service Week with the theme “Mission: Possible.” The week-long celebration, which ran from Monday, October 6 to Friday, October 10, was filled with engaging customer appreciation activities and staff recognition initiatives across the Bank’s branches and digital channels. Throughout the week, Polaris Bank celebrated its customers with giveaways, appreciation messages, and interactive engagements across its touchpoints, reaffirming its commitment to continuously improving service delivery. Employees were also recognised …
FCCPC commends CBN for its directive on 48-hr refund of failed ATM transactions
Abuja, Oct. 13, 2025 – The Federal Competition and Consumer Protection Commission (FCCPC) has commended the Central Bank of Nigeria (CBN) for its draft guidelines requiring banks to refund customers for failed transactions in Automated Teller Machine (ATM) within 48 hours. The FCCPC made the commendation in a statement issued on Monday by Ondaje Ijagwu, its Director of Corporate Affairs It said the exposure of the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria followed the FCCPC’s Consumer Complaints Data Report published in September 2025. “The …
IMF chief warns of economic uncertainty, offers this advice: ‘Buckle up’
Washington, Oct. 8, 2025 – The global economy is holding up better than expected despite major shocks such as President Donald Trump’s tariffs, but the head of the International Monetary Fund says that resilience may not last. “Buckle up,” Managing Director Kristalina Georgieva said in a speech at a think tank Wednesday. “Uncertainty is the new normal and it is here to stay.” Her comments at the Milken Institute come on a day when gold prices hit $4,000 an ounce for the first time as investors seek safe haven …