AFRICA’s Global Bank, United Bank for Africa (UBA) Plc, has once again, reaffirmed its leadership as one of the continent’s most innovative and resilient financial institutions, as the bank has, for the third time in five years, been named the African Bank of the year 2025 by the Banker.com. UBA also won the Best Bank of the Year awards in nine of its 20 African subsidiaries, bringing its total awards this year to ten as UBA Benin, UBA Chad, UBA Republic of Congo (Congo-Brazzaville), UBA Liberia, UBA Mali, UBA Mozambique, UBA Senegal, UBA Sierra Leone, and UBA Zambia, all came…
Author: Abimbola Daniels
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THE Central Bank of Nigeria has ordered banks and other financial institutions to reimburse victims of Authorised Push Payment (APP) fraud within 48 hours, marking one of the strongest regulatory moves yet to protect customers from rising electronic fraud in the country. APP fraud occurs when customers are manipulated, persuaded or misled into voluntarily sending money to fraudsters who may impersonate legitimate entities or refuse to fulfil obligations. This type of fraud often relies on social engineering and exploits customer vulnerabilities. News Point Nigeria reports that the directive, which was issued through a circular addressed to all banks, other financial…
THE Lagos State Governor, Babajide Sanwo-Olu, has presented a budget estimate of ₦4.237 trillion for the year 2026. News Point Nigeria reports that submitting the 2026 budget on Tuesday to the Lagos State House of Assembly for approval, Sanwo-Olu described it as a “bold and forward-looking financial plan” aimed at consolidating his administration’s legacy in its final full year. “The Year 2026 Appropriation Bill, ‘Budget of Shared Prosperity,’ is a reaffirmation of our collective belief that Lagos can continue to rise, continue to lead, and continue to create opportunities for every resident of Africa’s preferred megacity,” he said, unveiling the…
A NEW federal audit has uncovered a major breach of Nigeria’s currency management protocols, indicting the Central Bank of Nigeria (CBN) for re-circulating N29.77 billion worth of dirty and unfit banknotes in violation of its own Clean Note Policy during the final months of former Governor Godwin Emefiele’s administration. News Point Nigeria reports that the damning revelations are contained in the Auditor-General of the Federation’s Annual Report on Non-Compliance and Internal Control Weaknesses in MDAs for the year ended December 31, 2022, a document now before the National Assembly. According to the report, several CBN branches including Abuja, Lagos, Bauchi,…
AFRICA’s Global Bank, United Bank for Africa (UBA) Plc, hosted another enlightening edition of the UBA Business Series, bringing together some of Africa’s most dynamic digital entrepreneurs and influencers to discuss the secrets behind building impactful online communities. News Point Nigeria reports that this edition of the Business Series, which had the theme, “Content that Converts: Building Influence and Driving Growth Through Strategic Marketing,” was held at the Tony Elumelu Amphitheatre in UBA Head Office, Marina, Lagos on Thursday. The very engaging session, shed light on how authenticity, consistency, and passion remain true cornerstones of success in the ever-evolving digital…
AFRICA’s Global Bank, United Bank for Africa (UBA) Plc, is set to host another impactful edition of its quarterly UBA Business Series, with the theme “Content that Converts: Building Influence and Driving Growth Through Strategic Marketing.” News Point Nigeria reports that this edition, the final for the year, which will be held at the UBA Head Office, Marina Lagos, on Thursday, November 6th, 2025, underscores the bank’s unwavering commitment toward supporting entrepreneurs and small business owners with the knowledge and tools they need to thrive especially in today’s competitive digital landscape. The event will bring together leading industry experts and…
THE Central Bank of Nigeria (CBN) has released a total of $1.259 billion to petroleum marketers for the importation of fuel and related products between January and March 2025, latest government data have shown. News Point Nigeria reports that the disbursement comes amid the ongoing debate over Nigeria’s continued reliance on imported petrol, despite the commencement of large-scale refining by the Dangote Petroleum Refinery. Fresh figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reveal that imported petrol accounted for 69% of the 21 billion litres consumed nationwide between August 2024 and the first ten days of October…
THE Group Chairman, United Bank for Africa (UBA) Plc, and Heirs Holdings Limited, Tony Elumelu, CFR has challenged African policymakers to create environments that reward enterprise and unlock the continent’s vast potential. He said this much while delivering a keynote address during the Abuja Business & Investment Summit & Expo 2025, which held at the Bola Ahmed Tinubu International Conference Centre Abuja on Wednesday, said “Predictable regulation attracts long-term investment, while inconsistency drives it away. News Point Nigeria reports that he therefore urged governments to see private sector success as the foundation of national prosperity. Elumelu further who underscored the…
TENSION is rising across Nigeria’s aviation sector as workers of the Nigerian Meteorological Agency (NiMet) have declared an indefinite strike over what they describe as poor remuneration, stagnation, and the federal government’s failure to implement their long-awaited Conditions of Service (CoS). News Point Nigeria reports that the strike, jointly declared by key aviation unions, threatens to cripple vital weather observation and forecasting services that are indispensable to safe flight operations nationwide. NiMet, which provides real-time meteorological information, weather briefings, and forecasts to airlines, pilots, airports, and Air Traffic Controllers (ATCs), is a crucial component of Nigeria’s air safety infrastructure. Any…
AFRICa’s’s Global Bank, United Bank for Africa (UBA) Plc, is set to reinforce its role in shaping the continent’s financial ecosystem with the launch of its landmark whitepaper. The whitepaper, titled “Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth,” will be unveiled on the sidelines of the World Bank-International Monetary Fund (IMF) Annual Meetings in October 2025 in Washington, D.C., placing Africa’s economic agenda at the heart of global financial discussions. The document presents a comprehensive and actionable framework for unlocking Africa’s vast economic potential, providing analysis of critical growth pillars including trade facilitation, infrastructure development, digital…
TRANSCORP Power Plc, one of Nigeria’s leading power generation companies and a subsidiary of Transnational Corporation Plc (Transcorp Group), has posted an impressive financial performance for the third quarter of 2025, recording a ₦91.18 billion profit before tax and a 38% year-on-year revenue growth. According to its unaudited financial results for the period ended September 30, 2025 sent to News Point Nigeria, revenue rose to ₦308.5 billion, up from ₦223.5 billion in the corresponding period of 2024, underscoring the company’s continued expansion in generation capacity and operational efficiency. Transcorp Power attributed the strong performance to improved electricity generation and sustained…
NIGERA has lost an estimated $3.3 billion (about ₦5.4 trillion) to crude oil theft and pipeline sabotage between 2023 and 2024, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. News Point Nigeria reports that NEITI’s Executive Secretary, Dr. Ogbonnaya Orji, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria (NAEC) Annual Conference in Lagos, themed “Nigeria’s Energy Future: Exploring Opportunities and Addressing Risks for Sustainable Growth.” Dr. Orji lamented that the country’s energy sector continues to bleed massive revenues to theft, vandalism, and opaque practices, adding that the losses recorded within just one year could…
THE International Criminal Police Organisation (INTERPOL) has confirmed the arrest of a wanted Nigerian national, identified as Ikechukwu N., by Argentine authorities over his alleged involvement in a sophisticated international cybercrime and romance scam syndicate. In a statement released on its official X handle (formerly Twitter) on Tuesday seen by News Point Nigeria, INTERPOL said the arrest marked a major breakthrough in the fight against West African–linked organised cybercrime. “Argentine authorities have captured Nigerian national, Ikechukwu N., marking the country’s first arrest of a Red Notice fugitive who was also the subject of an INTERPOL Silver Notice,” the global policing…
THE Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, is confident that the nation’s oil production would hit 1.8 million barrels per day crude benchmark before the year ends. News Point Nigeria reports that Ojulari stated this on Sunday after visiting President Bola Tinubu in Lagos. The NNPCL boss was in Lagos to brief the President on the activities of the national oil company since his appointment on April 2. “With some of the turnaround maintenance that we have done in August and September, all of those are meant to come back this month.…
NIGERIA’s Interbank Settlement System (NIBSS) is preparing a major policy shift that could reshape the nation’s financial landscape: the elimination of transfer fees on the widely used NIBSS Instant Payment (NIP) platform. News Point Nigeria reports that Premier Oiwoh, Managing Director and Chief Executive Officer of NIBSS, made the announcement on Thursday at the Globus Bank Fintech Summit 2025 in Lagos, where he delivered a keynote address titled “From Cashless to Smart Economies: Shaping the Next Frontier of Financial Innovation.” Oiwoh explained that the reform, expected to begin next year, will move the system from a fee-per-transaction model to a…
NIGERIA exported Premium Motor Spirit (PMS), popularly known as petrol, worth N371.54 billion in the second quarter of 2025, the first recorded shipment of the product since the Dangote Petroleum Refinery began operations. News Point Nigeria reports that this development marks a turning point for Africa’s largest crude producer, which for decades relied heavily on imports due to moribund state-owned refineries. According to trade data released by the National Bureau of Statistics (NBS), petrol accounted for 1.63 per cent of total exports in the quarter. No exports were recorded in Q1 2025 or the same quarter in 2024, underscoring the…
ELECTRICITY consumers relying on the national grid may face a prolonged blackout within hours as the National Union of Electricity Employees on Wednesday began a nationwide strike over unresolved labour disputes with the Transmission Company of Nigeria. The union, in a circular signed by its Acting General Secretary, Dominic Igwebike obtained by News Point Nigeria, directed its members across the country to withdraw their services indefinitely until management addresses long-standing welfare and operational concerns. According to NUEE, the strike became inevitable after the expiration of an ultimatum issued to TCN, accusing the company of failing to address grievances bordering on…
TEN staff members of the Federal Inland Revenue Service (FIRS) and the United Capital Plc lost their lives in a widely reported fire at Afriland Towers on Broad Street, Lagos, on Tuesday. The deaths have been confirmed in separate statements by the FIRS and United Capital Plc received by News Point Nigeria. While FIRS said it lost four of its staff members, UCP, on the other hand, lost six staff to the incident. A statement issued by the Special Adviser on Media to the FIRS Chairman, Dare Adekanmbi, identified the victims as Mrs Ekelikhostse George (Assistant Director), Mr David Sunday-Jatto…
A DRAMATIC twist has unfolded in Nigeria’s aviation sector as a disgruntled cabin crew graduate has taken his grievance against the Nigerian Civil Aviation Authority (NCAA) to an international stage, reporting its Director-General, Captain Chris Najomo, to the Irish Civil Aviation Authority (Irish CAA). News Point Nigeria reports that the revelation was made public on Tuesday by Michael Achimugu, the spokesperson of the NCAA, through a post on X (formerly Twitter). Although Achimugu did not disclose the name of the cabin crew graduate, he confirmed that the complainant copied him in the email sent to the Irish CAA. “This guy…
THE United Bank for Africa has confirmed that a fire outbreak occurred on Broad Street, Lagos Island, affecting a building that houses one of its branches. This was contained in a statement released by the bank on its official X account on Tuesday sent to News Point Nigeria. “We are aware of the fire incident at a building on Broad Street, Lagos Island, which incidentally houses one of our many branches”, the statement partly read. The bank, however, dismissed claims circulating on social media that its corporate head office was involved. “As against reports online and social media, the affected…