Author: Vardiafrica

The Central Bank of Nigeria (CBN) has unveiled a major regulatory proposal that could reshape the relationship between banks, fintech companies, and other financial institutions operating under the same corporate group. Under the proposed guidelines, banks and their affiliated companies would be required to operate more independently, with stricter boundaries designed to prevent customer funds from being used to support subsidiaries or related businesses. The move is part of the apex bank’s latest effort to strengthen consumer protection, improve transparency, reduce financial risks, and ensure greater stability within Nigeria’s rapidly evolving financial sector. According to the draft framework released by…

The US and Iran have agreed to strike a deal to end their conflict, with US President Donald Trump saying the Strait of Hormuz oil shipping channel would also reopen. Pakistan’s Prime Minister Shehbaz Sharif, whose country has been mediating, announced the deal on Sunday evening. He said both sides had declared “the immediate and permanent termination of military operations on all fronts, including in Lebanon”, where Israel and the Iran-backed group Hezbollah have been fighting, although Israeli politicians criticised the deal. Trump said he had ordered the immediate removal of a US naval blockade of Iranian ports and said…

British Prime Minister Keir Starmer said on Monday he would ban social media sites for under-16s and impose restrictions on gaming and livestreaming platforms, in some of the world’s most far-reaching online restrictions to date. The sweeping changes will reflect Britain’s values, helping to protect children online while pushing back against the power of big technology companies, Starmer told a press conference. “It is clear to me a full ban is the right choice,” he said. “This will change the conversations that parents have and the expectations of children over time. It will make a huge difference, it will make our children…

Determined to build Nigerian workforce with practical skills for top careers in the local and international oil and gas industry, the Nigerian Content Development and Monitoring Board (NCDMB), in partnership with Chevron Nigeria Limited (CNL) and Bristow Helicopters Nigeria Limited (BHNL), has commenced a significant Human Capacity Development (HCD) programme aimed at developing a new generation of pilots for the aviation segment of the oil and gas industry. The training was unveiled in Lagos on Wednesday, and will provide 10 Nigerians with world-class aviation training, positioning them for careers in one of the specialised and critical sectors supporting offshore oil and…

The World Bank Group has announced plans to provide up to $100 billion in financing support to developing countries over the next 15 months as the escalating Middle East conflict increases risks to global economic growth. The funding package follows the bank’s latest Global Economic Prospects report, which warned that rising energy prices, accelerating inflation, and higher borrowing costs are placing significant pressure on developing economies already grappling with multiple economic challenges. According to the World Bank, between $50 billion and $60 billion will be made available immediately through existing financing instruments, including $25 billion in pre-arranged financing. The institution…

The protest against widespread insecurity has entered its third day in Nigeria’s capital city. The protesters, who are demanding improved security, blocked a bridge on Karu-Nyanya expressway, which links Nasarawa and Abuja.Wielding placards and chanting anti-government songs, they demanded that the government wake up to its responsibility of protecting lives. They first converged on a bridge in the axis before marching towards Nyanya. The demonstration caused heavy traffic congestion along the Abuja-Keffi Expressway, leaving many commuters stranded for hours. The protesters said the increasing incidents of kidnappings, violent attacks and general insecurity had made life unbearable for residents, urging the…

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has secured a warrant of arrest against Uche Nnaji, a former minister of innovation, science and technology. According to Premium Times, in a ruling on Thursday, a federal high court in Abuja granted the order for arrest following an ex parte motion filed by the ICPC in a suit marked FHC/ABJ/CS/1160/2026. Osuobeni Akponimisingha, ICPC counsel, also confirmed the development to TheCable. President Bola Tinubu appointed Nnaji as minister in August 2023. Nnaji resigned as minister following allegations that he forged the academic and National Youth Service Corps (NYSC) credentials submitted during his…

Meta-owned social media platforms Facebook and Instagram experienced a widespread outage on Friday, leaving millions of users worldwide unable to access their accounts for some time. The disruption affected Facebook’s website, mobile application and Messenger service, with many users reporting that they were unexpectedly logged out of their accounts. Attempts to log back in were met with error messages stating that “an unexpected error occurred,” while visitors to Facebook’s website were shown a notice indicating that the company was working to resolve the issue. As the outage spread, users flocked to X, formerly known as Twitter, to confirm whether others…

President Bola Tinubu has announced national honours for a broad cross-section of Nigerians who played significant roles in the country’s pro-democracy struggle, particularly around the June 12 political crisis. He described them as individuals who endured persecution, incarceration, exile and various forms of hardship to secure Nigeria’s democratic rule. The June 12 pro-democracy movement remains one of the defining political episodes in the country’s history, widely associated with the struggle for the validation of the 1993 presidential election and the country’s eventual return to democratic rule in 1999. In the list released by the Presidency, the awardees include lawyers, journalists,…

President Bola Tinubu has called on Nigerians never to stop believing in the country even while criticising and disagreeing with him. Tinubu made this call on Friday during his nationwide broadcast to mark the 27 anniversary of Nigeria’s uninterrupted democracy. According to him, democracy fails when citizens doubt the process, describing the National Assembly, judiciary, the press, and civil society as the guardrails of Nigeria. “Criticise me, disagree with me, but never stop believing in the nation. “To our young people, Nigeria is your home and your future. Build here, work here, and eat here. Every great nation was built by those…