Category: Business

IMF Excludes Nigeria from Africa’s Fastest-Growing Economies

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The International Monetary Fund (IMF) has left Nigeria out of its list of Africa’s fastest-growing economies, naming Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda as the continent’s top performers. IMF’s African Department Director, Abebe Selassie, announced this during the presentation of the Fund’s latest Regional Economic Outlook for Sub-Saharan Africa on Thursday. He attributed the strong performance of the five countries to fiscal reforms, improved governance, and rising investment in infrastructure and manufacturing. According to the IMF, growth in Sub-Saharan Africa is expected to stabilise at 4.1 per cent in…

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CBN Governor, Banks summoned Over Unauthorised Customer Deductions

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The House of Representatives has summoned the Central Bank of Nigeria (CBN) and top commercial banks to explain the growing incidents of arbitrary and unexplained deductions from customers’ accounts nationwide. The decision followed a motion of urgent national importance raised by Hon. Tolani Shagaya (APC, Kwara) during Tuesday’s plenary session. Shagaya expressed worry over what he described as “persistent, arbitrary, and unexplained charges” imposed by banks despite the CBN’s existing guidelines on service fees. He lamented that, rather than offering transparent and fair banking services, many financial institutions continue to…

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Fidelity Bags awards for Best Export and Trade Support and Innovation

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  Fidelity Bank’s market leadership has been affirmed once 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, 11 October 2025, Fidelity Bank was presented with the awards for the “Best Bank for Export & Trade Finance” and “Most Innovative Bank of the Year”. Dedicating the Export and Trade Finance Award to its customers, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka…

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Waves of Innovation: How First Bank turned Lagos into Africa’s Electric Playground

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By Kazeem Ugbodaga The Lagos Lagoon glistened in shades of blue and gold as electric powerboats sliced through the water, cheered on by an ecstatic crowd that lined Victoria Island’s waterfront from Saturday, 3 October to Sunday, 5 October. For two unforgettable days, Lagos became Africa’s capital of clean energy, glamour, and innovation, all powered by First Bank of Nigeria, the sponsor of the continent’s first-ever E1 Lagos Grand Prix. From the rhythmic sounds of Afrobeats echoing across the Marina to the sight of sleek, futuristic boats gliding silently on…

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Boutique Owner Arrested at Kano Airport After Excreting 127 Wraps of Cocaine

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  A boutique owner, identified as Godwin Emeka, has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at the Mallam Aminu Kano International Airport, Kano, after he allegedly excreted 127 wraps of cocaine. According to NDLEA sources, Emeka was intercepted during the outward clearance of passengers on a flight to Doha, Qatar, when his behavior raised suspicion. He was subsequently taken in for observation, during which he reportedly excreted the cocaine pellets over a period of several hours. Investigators said the suspect, who claimed to own…

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Vegetarian meal: Qatar Airways Faces Lawsuit Over Passenger’s Death

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Qatar Airways is facing a wrongful death lawsuit after an 85-year-old passenger, Dr. Asoka Jayaweera, reportedly died following a choking incident on board one of its flights. According to court filings in California, the retired cardiologist and lifelong vegetarian had pre-ordered a vegetarian meal for his long-haul flight from Los Angeles to Colombo, Sri Lanka, with a stopover in Doha. However, the lawsuit claims the airline failed to provide the requested meal and instead offered him a standard dish containing meat, instructing him to “eat around” it. While attempting to…

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Former UK Envoy, Dr. Christopher Kolade, Dies at 93

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Renowned broadcaster, diplomat, and corporate leader, Dr. Christopher Kolade, has died at the age of 93. Kolade, who served as Nigeria’s High Commissioner to the United Kingdom, passed away on Tuesday, October 8, 2025, after a distinguished career spanning broadcasting, business, academia, and public service. Born on December 28, 1932, in Erin-Oke, Osun State, Kolade began his career in broadcasting and rose to become Director-General of the Nigerian Broadcasting Corporation (NBC). He later joined Cadbury Nigeria Plc, where he served as Chief Executive and subsequently Chairman of the Board. A…

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Union Bank Strengthens Media Ties at Informal Mixer Event

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Union Bank of Nigeria recently hosted an informal and engaging meet-and-greet session with leading media professionals at The Stallion Plaza, its headquarters in Marina, Lagos. The event, held at SpaceNXT, the Bank’s purpose-designed co-creation hub for innovators and creators, was conceived as a relaxed platform to foster personal connections and deepen mutual understanding between the Bank and media partners. Rather than a formal media briefing, the gathering offered a convivial atmosphere for open conversation, reinforcing Union Bank’s recognition of the media’s essential role in shaping public discourse and amplifying the…

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Twice as Nice CEO, Waheed Shonibare Is Dead

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The Chief Executive Officer of the popular fashion brand Twice as Nice, Mr. Waheed Shonibare, is dead. According to reports, Shonibare passed away after a brief illness, though details surrounding his death remain sketchy as of press time. The late entrepreneur was widely regarded for his contribution to Nigeria’s fashion and lifestyle industry, building Twice as Nice into one of the country’s leading retail brands known for quality clothing, accessories, and perfumes. Tributes have begun to pour in from colleagues, business associates, and admirers who described him as a visionary…

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Fidelity Bank Hosts Black-Tie Gala Honouring Afreximbank President Prof. Benedict Oramah

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In recognition of his unwavering commitment to Africa’s development, Fidelity Bank Plc recently hosted a grand black-tie dinner to celebrate the retirement of Professor Benedict Okechukwu Oramah, outgoing President and Chairman of the African Export-Import Bank (Afreximbank), after ten years of transformative leadership. Held at the Lagos Continental Hotel on Thursday, 2 October 2025, the event was themed “Celebrating a Titan” and drew a distinguished gathering of dignitaries, captains of industry and international guests. They came together to honour a man widely regarded as one of Africa’s most influential financial…

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