The board of the Nigerian Education Loan Fund (NELFUND) has approved the disbursement of loans to successful applicants. This decision was made on Wednesday during its inaugural meeting. The agency’s spokesperson, Nasir Ayitogo, disclosed this in a statement. “By approving the immediate disbursement of the loans, NELFUND is taking a critical step in fulfilling its mission to support education and […]
The Nigerian Education Loan Fund (NELFUND) has finalized plans to disburse a total of N35 billion in fees and monthly upkeep allowances to 70,000 successful applicants who have already been approved for their loan applications. These applicants, students of federal government-owned tertiary institutions nationwide, were selected from a pool of 120,000 applicants who submitted their applications as of […]
Governor Babajide Sanwo-Olu of Lagos State revealed that the Lagos State Employment Trust Fund (LSETF) has generated over 221,000 direct and indirect jobs since its inception. He made this statement during a keynote address on Wednesday, July 3, 2024, at the Lagos Employment Summit organized by the LSETF. According to Sanwo-Olu, the LSETF has also […]
Nigeria’s electricity distribution companies (DisCos) have announced an upward review of electricity tariffs for Band A customers, effective from July 1. According to statements posted on the DisCos’ X handles, the new tariffs follow an earlier directive from the Nigerian Electricity Regulatory Commission (NERC) for an immediate upward review of electricity tariffs. NERC Vice Chairman, […]
In a demonstration of unwavering commitment to supporting and celebrating indigenous businesses in Nigeria, Remita Payment Services Limited (Remita), an indigenous fintech giant, recently sponsored and participated in the Lagos Leather Fair (LLF) held at the Balmoral Center, Lagos, on June 29th and 30th. Remita, a subsidiary of SystemSpecs Holdings Limited, has been at the […]
Lagos State Governor Babajide Sanwo-Olu announced a significant development in the state’s pension administration, clearing all pension backlogs with a payment of ₦4,461,659,536.82 to 2,000 retirees. This follows a previous payment of ₦3.1 billion to 1,013 retirees in February, fulfilling a promise to settle all arrears and current pension liabilities. In a tweet from his […]
Explosive Growth: Stanbic IBTC’s brand value nearly tripled in a year, reaching N75 billion (184% surge) according to a year-long analysis (March 2023 – March 2024). Reasons for Success: Strategic focus on improving financial services and delivering exceptional value to customers and stakeholders. Commitment to innovation, customer satisfaction, and strategic growth initiatives. Leader in Innovation: […]
Profit Soars: FBN Holdings reported a staggering 325% year-over-year increase in profit before tax (PBT) for the first quarter (Q1) of 2024, reaching N238.53 billion. This impressive performance builds upon the bank’s strong showing in 2023. Revenue and Efficiency: Gross earnings skyrocketed by 181.4% to N730.3 billion in Q1 2024 compared to the same period […]
Growth Picks Up, Inflation Eases The latest Stanbic IBTC Purchasing Managers’ Index (PMI) for Nigeria indicates a modest improvement in business conditions during May 2024. This comes after six months of consecutive growth in new orders and the strongest increase in business activity since January. Despite the positive trend, the growth rate remains below the […]
The financial services sector is facing a growing threat from Cyber incidents, according to the Allianz Risk Barometer. The report highlights that cyber incidents have emerged as the primary concern for financial institutions in 2024, with 43% of respondents ranking it as a significant risk. Cybersecurity Emerges as Top Threat: The Allianz Risk Barometer survey identifies cyber incidents as […]
