First City Monument Bank has unveiled an innovative product called FCMB Airtime Advance, which allows customers to borrow funds from their bank accounts.
A statement from the bank said it allowed borrowings ranging from N200 to N5,000 directly from their bank accounts for the purpose of purchasing airtime, regardless of their financial status.
“This solution aims to provide immediate relief to…
Arla Foods, maker of Dano Milk, says it has inaugurated a state-of-the-art dairy farm in Kaduna State as part of the company’s efforts to ensure sustainable milk production in Nigeria.
According to a statement, the farm, located in Damau village, Kubau Local Government…
The Central Bank of Nigeria has partnered with Benson Idahosa University, Benin, Edo State, to deepen adoption of eNaira as a payment system and medium of exchange.
Branch Controller, CBN, Benin, Michael Mbeze, stated this during a three-day training of students of the…
In December 2022, the Director of the Bank Examination Department, the Nigeria Deposit Insurance Corporation, Michael Oladele, revealed that N911bn had been lost to ‘get-rich-quick’ schemes in Nigeria over the last 23 years.
While this figure may present the raw facts of the damage of such schemes, it is a pointer to the innate need for individuals to attempt to build wealth. However, this is…
In an effort to ban the importation of barite and promote its local production, the Federal Government, through the Ministry of Mines and Steel Development, has commissioned a barite processing plant in Cross River State.
Speaking at the inauguration of the barite processing…
Google has released a new AI-powered chatbot called Bard, which is designed to compete with OpenAI’s ChatGPT. Bard is an experimental conversational AI service that is powered by Google’s LaMDA (Language Model for Dialogue Applications).
LaMDA is a large language model…
The Nigerian National Petroleum Company Limited needs to roll out massive investments in terms of oil and gas to meet the demand for these commodities, Africa’s richest man and Chairman, Dangote Group, Aliko Dangote, has said.
He said the national oil firm should invest more because there were many off-takers waiting to off-take the products from the company.
Dangote spoke at the ongoing 2023…
The Federal Government, through the Ministry of Mines and Steel Development, has stressed that biometric data capture for registered artisanal and small-scale miners will lessen the rate of illegal mining and smuggling in the country.
This was disclosed in a statement from…
Nigeria’s borrowing from the World Bank has reached $14.34bn as of March 31,
This was an increase from the $13.93bn debt recorded by the Debt Management Office as of December 31, 2022.
This means that fresh disbursements on approved loans added $410m to Nigeria’s debt…
Wema Bank Plc has said it recorded N39.35bn gross earnings in the first quarter of the 2023 financial period.
This was a year-on-year increase of 35.04 per cent from N29.14bn recorded in the corresponding period of 2022.
It disclosed this in a statement on its unaudited results for the first quarter ended March 30, 2023.
It disclosed that its interest income rose by 31.73 per cent y/y to N33.63bn…