News Rider

 BY CHIKA OKEKE, Abuja L:R- Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma; Permanent Secretary, Federal Ministry of Housing and Urban Development, Dr. Shuaib Belgore, and Managing Director/Chief Executive of FMBN, Shehu Usman Osidi during the Stakeholders Validation Workshop on the National Housing Data Programme in Abuja. The Federal Mortgage Bank of Nigeria, FMBN, has restrategised on the safest ways to ease difficulties associated with housing finance by establishing the National Mortgage Registry, expected to deepen transparency and strengthen regulation in the built environment. Director/Chief Executive of FMBN, Shehu Usman Osidi who stated this during the Stakeholders Validation Workshop on the National Housing Data Programme in Abuja, informed that the Registry has reached a major milestone and is ready for deployment. The National Mortgage Registry, which has been approved by the National Council on Housing and domiciled within FMBN, is be...

BY CHIKA OKEKE, Abuja Taiwo Oyedele The Federal Ministry of Finance has disowned a viral and fraudulent message sent to newly recruited staff, directing them to pay a non-refundable administrative fee of ₦50,000 as a condition for resumption of duty. This was even as the Ministry described the message as the handiwork of scammers seeking to exploit unsuspecting applicants through false claims made in the name of the Federal Ministry of Finance. The message, titled "Administrative Update and Compliance Notice for Newly Recruited Staff," falsely claimed that the Human Resource Management Department directed newly recruited staff to pay an administrative fee before assuming duty. To this end, the Ministry stated categorically that no such directive was issued and that the message did not originate from any office or official of the Federal Ministry of Finance. The Ministry clarified that recruitment into the Federal Ministry of Finance is conducted strictly in accord...

BY CHIKA OKEKE, Abuja The Nigerian Communications Commission, NCC has joined forces with the Rural Electrification Agency, REA, to develop renewable energy projects that support connectivity expansion in underserved communities. Both agencies pledged to deploy energy and telecom infrastructure, just as the Memorandum of Understanding, would create a framework for joint planning, infrastructure sharing and data exchange. The partnership followed the high operating costs faced by telecom operators especially from dependence on diesel‑powered generators to keep base stations running in areas with unreliable electricity supply. Executive Vice Chairman of NCC, Aminu Maida disclosed this at NCC–REA Stakeholder Workshop in Abuja, with the theme: “Unlocking the Energy–Telecoms Nexus for Scalable Digital Infrastructure in Nigeria”. Under the agreement, the REA will provide geospatial data on existing and planned electrification projects, while the NCC will share information on broad...

BY CHIKA OKEKE, Abuja Joseph Tegbe The Federal Government has mapped out plans to empower 5,000 young Nigerians as certified meter installation technicians, under President Bola Tinubu’s Presidential Metering Initiative. Tagged: ‘Power Force Programme’, the project, which is domiciled in the Ministry of Power, will address one of the power sector’s most persistent structural challenges: the metering gap, and the consequent liquidity deficit. Flagging off the training programme in Abuja, Minister of Power, Joseph Tegbe noted that investment and service delivery decline given the absence of accurate measurement of electricity consumption. The first cohort of trainees are the pioneers of the Federal Government’s-trained smart metering workforce. Tegbe said: “Where consumption cannot be accurately measured, revenue cannot be reliably collected, and where revenue is uncertain, investment declines and service delivery suffer. “Meters do not install themselves. Behind every succes...

BY CHIKA OKEKE, Abuja African Export-Import Bank, Afreximbank, has sealed a $8 billion deal with South Africa’s Industrial and Development Funding Institution to finance trade, industrial development and investment across Africa. The three-year strategic Memorandum of Understanding, MoU, will combine Afreximbank’s continental trade finance and development capabilities with the Industrial Development Corporations, IDC, local expertise in supporting South African businesses operating in priority productive sectors.  In addition, the collaboration will support the implementation of an US$8-billion financing envelope targeting industrial development, stronger regional value chains and increased intra-African trade and investment flows. This followed the recent $14-billion Country Programme agreement between Afreximbank and the Government of the Republic of South Africa whose objective is to support the country’s industrial, trade and development priorities. Under the renewa...

BY CHIKA OKEKE, Abuja Galaxy Backbone, GBB, has attributed successes recorded in Nigeria’s financial sector to persistent deployment of secured digital infrastructure, underscoring the importance of trusted digital infrastructure in enabling reliable and future-ready financial services. This was even as the digital services provider emphasised the need for secure digital infrastructure as financial institutions adapt to evolving regulatory requirements and increasing digital adoption. This formed the crux of discussion at its second-quarter webinar in Abuja with the theme: “Building Digital Trust in Nigeria’s Financial Sector: Navigating Regulatory Compliance and Infrastructure Performance.” The webinar attracted Chief Information Officers, CIOs, from banks, fintech leaders and technology stakeholders on the need to strengthen digital trust through regulatory compliance and resilient infrastructure. This followed directives by the Central Bank of Nigeria, CBN, mandating ban...