The African Democratic Congress (ADC) has condemned the federal government’s fresh N1.15 trillion in domestic borrowing, accusing President Bola Ahmed Tinubu of policy inconsistency and fiscal recklessness. In a statement signed by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC noted that despite Tinubu’s public claim that Nigeria had met its non-oil revenue…
Olusegun Alebiosu, CEO, Firstbank Group There’s no gainsaying that First Bank Nig.PLC, is truly the first. For decades, Nigeria’s credit system posed significant challenges for small businesses and low-income earners, who often struggled to qualify for loans. Traditional banks demanded collaterals, guarantors, and endless paperwork, effectively shutting out a large portion of the population working…
Former Benue State Governor, Chief Samuel Ortom, has disclosed that he rejected a N75 billion loan offer during his administration because it was conditional on repealing the state’s Anti-Open Grazing Law. Speaking during a media chat in Makurdi, Benue state, on the challenges he faced in office, Ortom said the proposal included a N40 billion…
World Bank has approved an additional $65 million loan for Nigeria to support the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total financing for the initiative to $145 million. The approval was granted on June 24, 2025, according to details posted on the World Bank’s website, which also indicates that the…
The Chairman of First Bank Holdings, Chief Femi Otedola, has revealed what the Publisher of Thisday Newspaper, Nduka Obaigbena, did with the $230 million loan he obtained from First Bank Limited. Otedola, sources said, made the revelation after meeting with President Bola Tinubu in the United Arab Emirates. President Tinubu is in Abu Dhabi, UAE…
The Lagos Division of the Federal High Court has ordered all banks operating in Nigeria to blacklist media executive Nduka Obaigbena and members of his family over alleged debt to First Bank of Nigeria. The December 30, 2024 Mareva order also sought to prevent Mr Obaigbena from moving any assets linked to him from the…
