News
Bank recapitalisation crucial to achieving $1trn economy – CBN

The Central Bank of Nigeria (CBN), has said the recapitalisation of Nigerian banks is crucial to the march towards achieving a one-trillion dollar economy.
CBN’s Deputy Governor, Corporate Services, Emem Usoro, said this on Monday in Abuja, at the ongoing 36th edition of the Finance Correspondents Association of Nigeria (FICAN).
The theme of the seminar is, “Banking Recapitalisation Towards a One Trillion Dollar Economy ”.
Usoro’s address was delivered by Mrs Hakama Sidi-Ali, CBN’s, the Acting Director, Corporate Communications Department.
According to her, the global financial system and architecture have assumed a new dimension even before the new administration of Donald Trump in the United States of America.
She said that globalisation had broken the limits of financial flows , and investors have inadvertently taken full advantage of the opportunities.
“However, countries and their financial systems must be prepared to utilise opportunities created by financial globalisation through appropriate policy support and actions.
“The Nigerian banking system has also undergone reforms, including recapitalisation and consolidation exercises.
“The 2004 banking sector consolidation and recapitalisation exercise, which set a limit of N25 billion minimum capital base for banks, brought the Nigerian banks from 89 to 25,” she said.
She said that as the country worked towards building a one-trillion dollar economy, it must consider recapitalisation of its banks to be able to finance the economy and favourably compete globally with its peers.
“We should particularly pay significant attention to bank recapitalisation to ensure that our banks are strong, resilient and stable enough to carry our financial intermediation.
“Building a one-trillion dollar economy is not as easy task. It will require careful planning, robust and clear policy direction, dutiful implementation and averred commitment from stakeholders that would galvanise various sectors of the economy.
“Today, our economy is valued at approximately 25 billion dollars. As we aspire to build a trillion-dollar economy, all hands must be on deck, ” she said. (NAN)
Education
BREAKING: JAMB Release 2025 UTME Results, 39,834 Candidates’ Scores Withheld

The Joint Admissions and Matriculation Board, JAMB, on Friday announced the release of the 2025 Unified Tertiary Matriculation Examination, UTME, results.
Elanza news reported that over 1.9 million applicants participated in the just-concluded exercise.
The board also disclosed that 80 suspects across the country are currently under interrogation for examination fraud, with Anambra State leading the pack with 14 suspects.
The board said it is withholding the results of 39,834 candidates over issues relating to examination irregularities.
JAMB Registrar, Prof. Ishaq Oloyede, stated this on Friday while officially releasing the 2025 UTME.
He also disclosed that while 467 underage candidates met the prescribed minimum score, 50 were engaged in cheating scandal.
A press conference to this effect is ongoing.
Details coming…
News
Oyo State Adviser Urges Stricter Fire Safety Measures After Factory Blaze

A massive fire razed a warehouse at Global Crystal Foam Nigeria Limited in Oko-Oba, Oyo State, on Thursday night, destroying property worth millions of naira, officials confirmed.
The blaze, which broke out along Akinmorin Road, prompted a rapid response from state and federal fire services, who managed to contain the inferno within 15 minutes.
Hon. Maroof Akinwande, Senior Adviser on Fire Service Reform to Oyo State Governor Seyi Makinde, visited the scene and urged the company’s management to prioritise fire safety measures to prevent future incidents.
“The governor places immense value on the safety of lives and property,” Akinwande said, calling on the public to cooperate with firefighters during emergencies.
The Oyo State Fire Service Agency, led by General Manager Akinyemi Akinyinka, was alerted to the fire at 8:50 pm by a retired fire officer, Mr. M.O. Adewuyi.
“Upon arrival, we found the warehouse engulfed in flames,” Akinyinka said.
“Our team, supported by the Federal Fire Service, Oyo Command, applied firefighting chemicals to restrict the fire from spreading to other sections of the company.”
Akinyinka noted that the fire, caused by overheating foam blocks igniting nearby combustibles, had raged for an hour before the agency was notified by a passerby who spotted smoke.
Despite the delay, the coordinated response prevented the blaze from consuming the entire facility, saving property worth millions.
Security was provided by a team from the Oyo East Division of the Amotekun Corps, led by CFS Adeduntan, who ensured no looting occurred during the operation.
News
Why We Invests N3.5bn To Social, Sustainability Efforts In 2024—MTN

MTN Nigeria, a leading telecommunications company, has invested N3.5 billion in corporate social investment (CSI) in 2024, bringing its total CSI spending to N31.9 billion since its inception, the company’s Chief Sustainability Officer, Tobechukwu Okigbo, announced on Thursday.
Speaking at the Nigerian Exchange Ltd (NGX) during the presentation of the company’s Facts Behind the Sustainability Report, Okigbo highlighted the tangible impacts of MTN’s initiatives.
“Our efforts have benefited over 663,300 individuals, supported 628 small businesses, and improved educational outcomes in 62 schools across Nigeria,” he said.
The company also launched the Sustainability in Action, Value for the MTN Everyone (SAVE) campaign to enhance employee engagement in sustainability efforts.
To improve global accessibility, MTN’s 2023 sustainability report was digitally tagged with extensible Business Reporting Language (XBRL), making it easier for investors and stakeholders to access.
MTN Nigeria made significant strides in reducing its environmental footprint, cutting Scope 1 and 2 emissions by 11% from its 2021 baseline of 113,826 tCO²e to 101,300 tCO²e in 2024.
The company expanded renewable energy use by adding 194 solar-powered rural telephony sites and became the first telecom operator in West Africa to introduce eco-friendly SIM cards.
On the social front, MTN reaffirmed its commitment to gender equality through its Yellowpreneur platform, which provides women access to low-interest loans.
“No fewer than 600,000 women have benefited from this initiative,” Okigbo noted, adding that the loans, facilitated through partner banks, carry an interest rate not exceeding N3.00.