FirstBank has denied allegations of fraudulent activity involving a ₦55 million fixed deposit transaction, as claimed by a customer, Dr. Agbai Eke. In a widely circulated video, Dr. Eke alleged that the bank failed to return his deposit after an unauthorized withdrawal from his account at its former Abiriba branch, now relocated to Uzuakoli. He
The Lagos State Signage and Advertisement Agency (LASAA) has taken decisive action against individuals involved in the unauthorized removal and destruction of advertising structures along Admiralty Way in Lekki. Officials from LASAA apprehended those responsible for what they described as the “deliberate vandalism” of legally approved street lamp pole advertisements. The agency’s swift intervention underscores
The Asset Management Corporation of Nigeria (AMCON) has announced the recovery of over ₦2.1 trillion for the Federal Government, despite facing significant resistance from debtors. The corporation also disclosed that it currently has over 2,000 court cases, as many debtors failed to use borrowed funds for their intended purposes. Speaking at a media briefing in
The United Bank for Africa (UBA) and the Institute of Chartered Accountants of Nigeria (ICAN) have entered into a partnership aimed at driving innovation and excellence in the finance and accounting profession. The partnership, which was formalized at a ceremony in Lagos, is expected to promote research and development in finance and accounting, as well
In a move to enhance Nigeria’s healthcare sector and reduce dependence on imports, Lagos State Governor Babajide Sanwo-Olu has commissioned the state’s first medical syringe manufacturing facility, O-Care Disposable Syringes. The factory, owned by Transgreen Nigeria Limited, is located at Odofin Park Estate, Ijesha, Apapa-Oshodi, Lagos. With a daily production capacity of 750,000 syringes, it
The Nigeria Employers’ Consultative Association (NECA) has rejected the high levies imposed by the Fiscal Responsibility Commission (FRC) on private firms, describing them as “excessive” and “ill-timed”. In a statement, NECA’s Director-General, Mr. Wale Oyerinde, argued that the increased levies would further burden private sector operators, who are already grappling with the challenges of doing
BY AMIDAT SHITTU OPEYEMI. The Asset Management Corporation of Nigeria (AMCON) has reaffirmed its commitment to recovering an alleged N455 billion debt owed by Arik Air Limited (in receivership) and other associated companies owned by Sir Johnson Arumemi-Ikhide. The corporation emphasized that despite resistance from the airline’s promoter, it remains steadfast in its mission to reclaim the
By AMIDAT SHITTU OPEYEMI Economic and international relations experts have called on the Nigerian government to draw lessons from China’s development model to accelerate the country’s economic growth. They emphasized that while China’s strategies cannot be copied wholesale, they can be adapted to fit Nigeria’s unique circumstances. This call was made by stakeholders in China-Nigeria
By AMIDAT SHITTU OPEYEMI. In an extraordinary display of endurance, passion, and commitment to unity, Nigerian biker Omolewa Adesuyi, popularly known as MamaSpade, has set her sights on an ambitious 7,000-kilometer journey from Lagos, Nigeria, to Cape Town, South Africa. The five-week expedition, which she calls the “Unity Ride,” is not just a personal challenge
The World Bank is expected to approve $1.13 billion in loans for Nigeria by the end of March 2025. These funds are allocated to support various critical reforms and initiatives aimed at boosting the nation’s economic resilience, health systems, and education sector. Three major projects are currently in the negotiation phase, with approvals anticipated this
