
Telcos Await NCC Guidelines on 50% Tariff Hike
Telecom operators await NCC guidelines to implement a 50% tariff hike starting in February. The hike, within N6.40–N50 bands, aims to address rising costs but faces backlash from subscriber groups demanding a reduction to 10% by January 29. Despite approval, the hike leaves broader telecom challenges unresolved.

Diasporans Urged to Verify Land Purchases
Dr. Babatunde Adeyemo has warned Nigerians in the diaspora to verify ownership and approvals before buying land to avoid losses. This follows U.S.-based Dr. Kimberly Stark’s plea after her properties were demolished. Experts stress the need for proper checks and legal documents to safeguard investments.

NDIC Calls for Deposit Insurance Module in ICAN Curriculum
NDIC has urged ICAN to include a deposit insurance module in its curriculum to boost understanding among banking professionals. ICAN President praised NDIC’s governance, citing its top ranking in the 2023 Ethics and Integrity Compliance Scorecard. ICAN also introduced an Accountability Index to promote sector integrity.

NAICOM, NCAA Launch Joint Committee on Aviation Insurance
NAICOM and NCAA have formed a joint committee to address aviation insurance issues, including verifying insurance certificates and resolving complaints. The committee will also organize training and review insurance requirements. Mrs. Dorcas Rominiyi of NCAA pledged full commitment to the committee’s success.

IBEDC Faces Backlash Over Energy Credit Hike
IBEDC has raised the minimum energy credit for Band A customers to N5,000, drawing criticism from consumer groups. The company claims it aims to reduce energy theft, but critics argue it infringes on consumers’ rights and could encourage illegal practices. Regulators are investigating the move.

Telcos to Cut USSD Access for Banks Over Unpaid Debts
MTN and Airtel will disconnect USSD services for banks with unpaid debts by the end of today, following a directive from the NCC. Nine banks were given a deadline to settle outstanding payments or lose access to the service, with some still non-compliant.

NEITI Hails Resumption of Port Harcourt, Warri Refineries
NEITI has praised the resumption of operations at the Port Harcourt and Warri refineries, calling it a vital move for Nigeria’s energy self-sufficiency. The development will reduce fuel import costs, enhance foreign exchange reserves, and stimulate economic growth. NEITI urges NNPCL to expedite further refinery rehabilitations.

$700m Investment in CNG, Electric Vehicles – FG
The Federal Government revealed a $700 million investment in CNG and electric vehicles, fueled by reforms and incentives to boost electric mobility. Special Adviser on Energy, Olu Verheijen, highlighted the progress in attracting global investors to Nigeria’s energy sector, enhancing energy security and economic growth.

$1.8bn Allocated for Food Imports in Nine Months – CBN
The Central Bank of Nigeria allocated $1.87bn for food imports in the first nine months of 2024, marking a 14.37% increase from the previous year. Despite efforts to boost local production, Nigeria remains reliant on imports, with food inflation continuing to rise, reaching 39.84% in December 2024.

Poor Rail Connectivity Limits Operations at Kaduna Port – MD
The Managing Director of Kaduna Inland Dry Port, Mr. Salami Razak, has cited poor rail connectivity as a major challenge limiting the port’s full potential. Despite improvements, the lack of efficient rail transport results in the port losing 50% of its potential profit. Only three of the seven planned inland ports are operational.

CBN Sells N756bn Treasury Bills – Afrinvest
The Central Bank of Nigeria (CBN) sold N756bn worth of Treasury bills, following a primary auction subscription. The sale included N530bn across 91-day, 182-day, and 364-day maturities, with strong demand for long-term bills. The auction recorded a subscription of 4.8x, and market analysts expect rates to continue moderating.

Julius Berger to Build New Armed Forces Complex
Julius Berger has been contracted to construct a new Armed Forces Complex in Abuja. The project will include four buildings and a 1,500-capacity conference hall for 3,000 personnel. President Tinubu and Defence Chief Musa commended the partnership. The complex will enhance Nigeria’s security infrastructure.

Wini Group to Establish AI University in Lagos
Wini Group has secured Lagos State’s support to establish Nigeria’s first AI-focused university in Epe, named Wini University. The institution aims to equip Nigerian youth with skills in AI, blockchain, and quantum computing. Governor Sanwo-Olu and President Tinubu back the project, which is expected to transform Epe’s economy and boost Lagos’ tech innovation leadership.

Baobab Loans Over N323bn to SMEs
Baobab Microfinance Bank has disbursed over N323bn to 407,000 SMEs across Nigeria, supporting economic growth and job creation. In 2024 alone, the bank provided N92bn in loans, focusing on financial inclusion and sectoral development.

Secure Electronic Posts N118m Loss in 2024
Secure Electronic Technology Plc reported a loss of N118m for 2024, despite a 24% increase in gross income to N4.35bn. High operational and administrative costs, including N2.44bn for prizes, led to an operating loss. Liquidity concerns arose as cash balance decreased by 24.6%, prompting a N20m loan to support operations.

Oyetty Foundation Celebrates 2nd Anniversary, Empowering Families
The Oyetty Foundation marked its second anniversary, supporting families of children with special needs. Founder Olusegun Akande urged families to seek help despite societal stigma. Parents, like Simons Faloge, praised the foundation’s role in offering financial and emotional support. Established in 2022, the foundation continues to empower caregivers.

PenCom Issues 1,866 Pension Compliance Certificates
The National Pension Commission issued 1,866 pension compliance certificates in 2025 to employers with 3–1,976 employees. Companies like Stanbic IBTC, Presco Plc, and Providus Bank led contributions, fulfilling Pension Reform Act requirements. PCCs serve as proof of compliance and are mandatory for federal contracts.
