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	<title>Nigeria Business News, Oil&amp;Gas, Banking, Insurance, etc</title>
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		<title>Tomato farmers predict steady price hike from May</title>
		<link>https://newsverge.com/2026/04/10/tomato-farmers-predict-steady-price-hike-from-may/</link>
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		<dc:creator><![CDATA[Mercy Omoike]]></dc:creator>
		<pubDate>Fri, 10 Apr 2026 12:55:28 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=190018</guid>

					<description><![CDATA[<p>The Tomatoes Growers and Processors Association of Nigeria (TOPAN) has predicted a steady increase in the price of the produce between May and June 2026. The Kaduna State Chairman TOPAN, Mr Rabiu Zuntu, disclosed this in an interview with our correspondent on Friday in Lagos. Zuntu noted that although there is no particular time for [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/10/tomato-farmers-predict-steady-price-hike-from-may/">Tomato farmers predict steady price hike from May</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em><strong>The Tomatoes Growers and Processors Association of Nigeria (TOPAN) has predicted a steady increase in the price of the produce between May and June 2026.</strong></em><br />
<span id="more-190018"></span></p>
<p>The Kaduna State Chairman TOPAN, Mr Rabiu Zuntu, disclosed this in an interview with our correspondent on Friday in Lagos.</p>
<p>Zuntu noted that although there is no particular time for tomatoes planting season up north, seasonal weather variations can affect the production of the produce.</p>
<p>“Although we can plant tomatoes all-year-round, we cannot assure quality harvest all-year-round.</p>
<p>“Some farmers are harvesting now, while others are transplanting, and others are harvesting.</p>
<p>“Tomatoes are still available for sale but the price of the produce is gradually on the increase.</p>
<p>“Come May/June, the prices of tomatoes will be very expensive, so now is a good time to stock up the produce. There’s always a scarcity within that period.</p>
<p>“This is because of the nature of the weather in the north around that period, the weather is usually very hot and tomatoes cannot resist such hot temperature,” he said.</p>
<p>Zuntu said the price of tomatoes have started rising up in the north.</p>
<p>“A 50kg rafia basket of tomatoes sells from N20,000 as against N7,000 to N10,000 that was sold earlier in the year.</p>
<p>“While a crate of tomatoes up north is sold between N10,000 and N15,000 as against N5,000 to N6,500 sold earlier in the year.</p>
<p>“In most part of Kano State, where there is bumper harvest, they are rounding off their harvest. So, tomato is not that available there and most buyers have turned to where they can find it now, mostly within Kaduna State and some parts of Plateau State.</p>
<p>“So, that’s why the supply has decreased and the tomato supply and cost is determined by the law of demand and supply,” he said.</p>
<p>Our correspondent reports that a 50kg basket of tomatoes in Lagos, at the moment, sells between N40,000 and N60,000 depending on the size and quality.</p>
<p>The post <a href="https://newsverge.com/2026/04/10/tomato-farmers-predict-steady-price-hike-from-may/">Tomato farmers predict steady price hike from May</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">190018</post-id>	</item>
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		<title>Indigenous firms key to Nigeria’s digital future – Remita</title>
		<link>https://newsverge.com/2026/04/09/indigenous-firms-key-to-nigerias-digital-future-remita/</link>
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		<dc:creator><![CDATA[Funmilola Gboteku]]></dc:creator>
		<pubDate>Thu, 09 Apr 2026 13:51:18 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189977</guid>

					<description><![CDATA[<p>The Managing Director of Remita Payment Services Ltd., Mr Deremi Atanda, has called for stronger recognition of indigenous technology capabilities in shaping Nigeria’s digital future. Atanda made this known in a statement on Thursday following his participation at the National GovTech Policy Roundtable 2026. He said Nigeria’s private sector had played a critical role in [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/09/indigenous-firms-key-to-nigerias-digital-future-remita/">Indigenous firms key to Nigeria’s digital future – Remita</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em><strong>The Managing Director of Remita Payment Services Ltd., Mr Deremi Atanda, has called for stronger recognition of indigenous technology capabilities in shaping Nigeria’s digital future.</strong></em><br />
<span id="more-189977"></span></p>
<p>Atanda made this known in a statement on Thursday following his participation at the National GovTech Policy Roundtable 2026.</p>
<p>He said Nigeria’s private sector had played a critical role in advancing digital governance.</p>
<p>Atanda noted that locally developed solutions had continued to operate at scale across both public and private sectors.</p>
<p>Clarifying perceptions about Remita’s role, Atanda said the company’s engagement with the government represented only a fraction of its broader operations.</p>
<p>“Many assume that our strength lies primarily within government, but that is not entirely accurate. It simply represents one expression of the breadth of what we do.</p>
<p>“We are a wholly privately owned organisation, yet we have found ourselves contributing meaningfully to Nigeria’s growth by leveraging technology as a purely private sector entity,” he said.</p>
<p>Building on this, he noted that Nigeria’s digital transformation journey had been significantly shaped by indigenous innovation, stressing that local firms had consistently delivered critical infrastructure that underpins governance and service delivery.</p>
<p>To illustrate this, Atanda referenced the Integrated Payroll and Personnel Information System as a defining moment in Nigeria’s GovTech evolution.</p>
<p>He explained that the project, conceived in 2006 and funded by the World Bank through an international bidding process, was won by SystemSpecs, demonstrating the global competitiveness of Nigerian firms.</p>
<p>“At a time when it was opened to global competition, a Nigerian company emerged successful in that process.</p>
<p>“This is a success story that Nigeria itself has not sufficiently told, in spite of the fact that it has, over time, outperformed leading international organisations on that same project,” he said.</p>
<p>He added that the project was executed under fully international procurement standards and denominated in dollars, further reinforcing the capacity of indigenous companies to deliver on complex, large-scale systems.</p>
<p>According to Atanda, such examples show that some of Nigeria’s most critical digital public infrastructure have been locally conceived, developed and sustained over time.</p>
<p>Atanda noted that while Remita was widely recognised for powering the Treasury Single Account, its evolution reflects a platform with a much broader footprint.</p>
<p>He noted that the company provides payments, collections and financial services infrastructure across multiple sectors, supporting efficiency and transparency in both government and private institutions.</p>
<p>Atanda reiterated that Nigeria’s digital future would depend on sustained support for indigenous innovation, stronger private sector leadership and continued investment in scalable technology infrastructure</p>
<p>Also speaking, the Deputy Speaker of the House of Representatives, Mr Benjamin Kalu, underscored the importance of impact-driven digital transformation.</p>
<p>Kalu said the success of digital governance should be measured not by technology deployment, but by how accessible, responsive and trustworthy government becomes to citizens.</p>
<p>“The measure of digital-first governance will not be found in the servers we procure or the applications we launch, but in whether government is accessible, responsive, trustworthy and just,” he said.</p>
<p>The post <a href="https://newsverge.com/2026/04/09/indigenous-firms-key-to-nigerias-digital-future-remita/">Indigenous firms key to Nigeria’s digital future – Remita</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">189977</post-id>	</item>
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		<title>NPA facilitates 500,000 tonnes petroleum export from Dangote refinery</title>
		<link>https://newsverge.com/2026/04/07/npa-facilitates-500000-tonnes-petroleum-export-from-dangote-refinery/</link>
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		<dc:creator><![CDATA[Aisha Cole]]></dc:creator>
		<pubDate>Tue, 07 Apr 2026 21:00:25 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189926</guid>

					<description><![CDATA[<p>The Nigerian Ports Authority (NPA) says it facilitated export of over 500,000 tonnes of petroleum products from Dangote Refinery to African countries in March. NPA Managing Director, Dr Abubakar Dantsoho, disclosed this in a statement issued on Tuesday by Mr Ikechukwu Onyemekara, General Manager (Corporate Communications and Strategy). Dantsoho spoke at a stakeholders’ engagement organised [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/07/npa-facilitates-500000-tonnes-petroleum-export-from-dangote-refinery/">NPA facilitates 500,000 tonnes petroleum export from Dangote refinery</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em><strong>The Nigerian Ports Authority (NPA) says it facilitated export of over 500,000 tonnes of petroleum products from Dangote Refinery to African countries in March.</strong></em><br />
<span id="more-189926"></span></p>
<p>NPA Managing Director, Dr Abubakar Dantsoho, disclosed this in a statement issued on Tuesday by Mr Ikechukwu Onyemekara, General Manager (Corporate Communications and Strategy).</p>
<p>Dantsoho spoke at a stakeholders’ engagement organised by the Ministry of Marine and Blue Economy in Lagos.</p>
<p>He said in spite of the Middle East conflict affecting global vessel movement, Nigeria remained resilient in supplying petroleum products locally and for export.</p>
<p>He attributed the achievement to the implementation of the One-Stop-Shop (OSS), introduced by the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola.</p>
<p>According to him, the OSS ensures all stakeholders operating at the Dangote Refinery align seamlessly in their operations.</p>
<p>“In many countries today, workers operate remotely, while others face energy queues, but Nigeria has not experienced such disruptions.</p>
<p>“As a matter of fact, in the past month, we exported over 500,000 tonnes of petroleum products from Dangote Refinery to African countries.</p>
<p>“The exports are handled by ships, supported by the NPA’s capacity in port and cargo operations,” Dantsoho said.</p>
<p>He said the policies driving the achievement were approved by the minister, including the OSS hosted by the NPA.</p>
<p>“This system operates similarly to the National Single Window, ensuring efficiency and coordination,” he said.</p>
<p>Dantsoho noted that all stakeholders now operate in sync with Dangote Refinery’s distribution framework.</p>
<p>The post <a href="https://newsverge.com/2026/04/07/npa-facilitates-500000-tonnes-petroleum-export-from-dangote-refinery/">NPA facilitates 500,000 tonnes petroleum export from Dangote refinery</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">189926</post-id>	</item>
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		<title>Eterna Plc posts N7.27bn profit, proposes dividend</title>
		<link>https://newsverge.com/2026/04/07/eterna-plc-posts-n7-27bn-profit-proposes-dividend/</link>
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		<dc:creator><![CDATA[Yusuf Yunus]]></dc:creator>
		<pubDate>Tue, 07 Apr 2026 17:03:18 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189916</guid>

					<description><![CDATA[<p>Eterna Plc has recorded its audited results for the year ended Dec. 31, 2025, posting strong profit growth and improved financial position. The Managing Director/Chief Executive Officer, Eterna Plc, Mr Olumide Adeosun, disclosed this in a statement on Tuesday in Lagos. Adeosun said the company recorded revenue of N302.37 billion for the period, while profit [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/07/eterna-plc-posts-n7-27bn-profit-proposes-dividend/">Eterna Plc posts N7.27bn profit, proposes dividend</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em><strong>Eterna Plc has recorded its audited results for the year ended Dec. 31, 2025, posting strong profit growth and improved financial position.</strong></em><br />
<span id="more-189916"></span></p>
<p>The Managing Director/Chief Executive Officer, Eterna Plc, Mr Olumide Adeosun, disclosed this in a statement on Tuesday in Lagos.</p>
<p>Adeosun said the company recorded revenue of N302.37 billion for the period, while profit before tax rose to N7.27 billion, representing a 52.9 per cent increase from N4.48 billion in 2024.</p>
<p>He said profit after tax stood at N2.92 billion, with earnings per share of N2.24.</p>
<p>According to him, total assets increased to N92.19 billion, driven by strong inventory growth, while shareholders’ funds rose to N7.77 billion, reflecting improved retained earnings.</p>
<p>“The performance reflects the company’s continued focus on operational efficiency, improved cost management and strategic positioning across its fuels, lubricants and gas businesses,” he said.</p>
<p>Adeosun said the Board of Directors had proposed a dividend of 50 kobo per share for the 2025 financial year, subject to shareholders’ approval at the Annual General Meeting.</p>
<p>He added that the company would continue to focus on operational efficiency, sustainable asset expansion and strengthening its market position.</p>
<p>According to him, Eterna Plc remains committed to driving growth through retail expansion, broader product offerings and customer-focused initiatives.</p>
<p>Adeosun said the full audited financial statements for the period are available on the company’s website. </p>
<p>The post <a href="https://newsverge.com/2026/04/07/eterna-plc-posts-n7-27bn-profit-proposes-dividend/">Eterna Plc posts N7.27bn profit, proposes dividend</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>Zenith Bank posts N1.26trn profit after tax, proposes higher dividend</title>
		<link>https://newsverge.com/2026/04/07/zenith-bank-posts-n1-26trn-profit-after-tax-proposes-higher-dividend/</link>
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		<dc:creator><![CDATA[Taiye Olayemi]]></dc:creator>
		<pubDate>Tue, 07 Apr 2026 13:59:40 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189910</guid>

					<description><![CDATA[<p>Zenith Bank Plc has recorded a profit before tax (PBT) of N1.26 trillion for the year ended Dec. 31, 2025, compared with N1.33 trillion in 2024. The bank in its audited financial results, filed at the Nigerian Exchange Ltd. on Tuesday in Lagos, showed that profit after tax rose marginally to N1.04 trillion in 2025 [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/07/zenith-bank-posts-n1-26trn-profit-after-tax-proposes-higher-dividend/">Zenith Bank posts N1.26trn profit after tax, proposes higher dividend</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em><strong>Zenith Bank Plc has recorded a profit before tax (PBT) of N1.26 trillion for the year ended Dec. 31, 2025, compared with N1.33 trillion in 2024.</strong></em><br />
<span id="more-189910"></span></p>
<p>The bank in its audited financial results, filed at the Nigerian Exchange Ltd. on Tuesday in Lagos, showed that profit after tax rose marginally to N1.04 trillion in 2025 from N1.03 trillion in the previous year, supported by lower tax expenses.</p>
<p>Taxation declined to N222.82 billion in 2025 from N293.96 billion in 2024.</p>
<p>Gross earnings increased to N4.19 trillion from N3.97 trillion, reflecting growth in revenue.</p>
<p>However, total comprehensive income fell to N1.11 trillion in 2025 from N1.52 trillion in 2024,  due to a foreign exchange translation loss of N82.13 billion, compared with a gain of N220.29 billion recorded in the previous year.</p>
<p>Fair value gains on equity instruments also declined to N7.38 billion from N151.01 billion in 2024.</p>
<p>Earnings per share dropped to N25.32 in 2025 from N32.87 recorded in 2024.</p>
<p>Total assets rose to N31.46 trillion in 2025, compared with N29.96 trillion in the previous year, indicating continued expansion.</p>
<p>Retained earnings increased to N2.81 trillion from N2.02 trillion, while other reserves rose to N1.50 trillion from N1.40 trillion.</p>
<p>Consequently, total shareholders’ equity grew to N4.92 trillion in 2025 from N4.03 trillion in 2024.</p>
<p>The group proposed a final dividend of N8.75 per share, up from N4.00 in 2024, bringing the total dividend for the 2025 financial year to N10.00 per share, including an interim dividend of N1.25. </p>
<p>The post <a href="https://newsverge.com/2026/04/07/zenith-bank-posts-n1-26trn-profit-after-tax-proposes-higher-dividend/">Zenith Bank posts N1.26trn profit after tax, proposes higher dividend</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>OPEC+ warns of cost of repairing energy assets in Middle East</title>
		<link>https://newsverge.com/2026/04/07/opec-warns-of-cost-of-repairing-energy-assets-in-middle-east/</link>
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		<dc:creator><![CDATA[Emmanuel Yashim]]></dc:creator>
		<pubDate>Tue, 07 Apr 2026 08:30:45 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189891</guid>

					<description><![CDATA[<p>Eight countries forming the core of the OPEC+ group of oil producers have voiced concern over Iran’s attacks on energy infrastructure as oil shortages persist amid the war in the Middle East. “Restoring damaged energy assets to full capacity is both costly and takes a long time, thereby affecting overall supply availability,” the countries said [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/07/opec-warns-of-cost-of-repairing-energy-assets-in-middle-east/">OPEC+ warns of cost of repairing energy assets in Middle East</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><em><strong>Eight countries forming the core of the OPEC+ group of oil producers have voiced concern over Iran’s attacks on energy infrastructure as oil shortages persist amid the war in the Middle East.</strong></em><br />
<span id="more-189891"></span></p>
<p>“Restoring damaged energy assets to full capacity is both costly and takes a long time, thereby affecting overall supply availability,” the countries said in a joint statement after an online meeting.</p>
<p>They also highlighted the “critical importance of safeguarding international maritime routes to ensure the uninterrupted flow of energy” – a reference to the Strait of Hormuz, which Iran has effectively blocked in reaction to U.S.-Israeli attacks</p>
<p>The group – consisting of Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman – said they would increase oil production in May by 206,000 barrels per day.</p>
<p>Given the blockade of the Strait of Hormuz, through which around 20 per cent of global oil trade passes, the move is more symbolic than practical, as the oil market faces a supply problem rather than a production shortage.</p>
<p>Much of the available oil supply is currently going to Asia, namely China, Japan and South Korea, according to Carsten Fritsch, an analyst at Germany’s Commerzbank.</p>
<p>“Asia is currently sucking everything up like a vacuum cleaner,” he said.</p>
<p>U.S. President Donald Trump has urged countries facing shortages to source oil from the United States.</p>
<p>However, the impact of this on global prices remains uncertain, as they are determined by global supply, which has been restricted due to the war.</p>
<p>According to figures from the International Energy Agency in March, countries in the Gulf region have reduced their daily oil production by at least 10 million barrels, or nearly 10 per cent of global demand, citing limited storage capacity for oil that cannot pass through the Strait of Hormuz. </p>
<p>The post <a href="https://newsverge.com/2026/04/07/opec-warns-of-cost-of-repairing-energy-assets-in-middle-east/">OPEC+ warns of cost of repairing energy assets in Middle East</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>NDPC probes alleged data breach involving Remita, Sterling Bank, others</title>
		<link>https://newsverge.com/2026/04/06/ndpc-probes-alleged-data-breach-involving-remita-sterling-bank-others/</link>
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		<dc:creator><![CDATA[Ijeoma Olorunfemi]]></dc:creator>
		<pubDate>Mon, 06 Apr 2026 16:55:42 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189877</guid>

					<description><![CDATA[<p>The Nigeria Data Protection Commission (NDPC) has begun investigation into an alleged data breach involving Remita Payment Services Ltd., Sterling Bank and other institutions. Mr Babatunde Bamigboye, Head, Legal, Enforcement and Regulations at NDPC, said this in a statement on Monday. Bamigboye said a notice of investigation was duly served on April 1, in line [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/06/ndpc-probes-alleged-data-breach-involving-remita-sterling-bank-others/">NDPC probes alleged data breach involving Remita, Sterling Bank, others</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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										<content:encoded><![CDATA[<p><em><strong>The Nigeria Data Protection Commission (NDPC) has begun investigation into an alleged data breach involving Remita Payment Services Ltd., Sterling Bank and other institutions.</strong></em><br />
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<p>Mr Babatunde Bamigboye, Head, Legal, Enforcement and Regulations at NDPC, said this in a statement on Monday.</p>
<p>Bamigboye said a notice of investigation was duly served on April 1, in line with the commission’s procedures.</p>
<p>According to him, relevant parties and individuals have since been providing information to aid the investigation and address the incident.</p>
<p>He stressed that the investigation aims to ensure that data subjects are protected with appropriate technical and organisational measures.</p>
<p>“The investigation by NDPC covers, among others, the types of personal data involved, the nature and scope of the alleged breach, the risk to data subjects and the mitigation measures carried out where a breach is confirmed,” he said.</p>
<p>The National Commissioner of NDPC, Dr Vincent Olatunji, also said that organisations deploying digital payment systems without adequate safeguards would come under scrutiny.</p>
<p>He added that such measures were mandated under the Nigeria Data Protection Act 2023 as part of efforts to ensure the integrity of the ecosystem. </p>
<p>The post <a href="https://newsverge.com/2026/04/06/ndpc-probes-alleged-data-breach-involving-remita-sterling-bank-others/">NDPC probes alleged data breach involving Remita, Sterling Bank, others</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>Flutterwave secures CBN approval for banking services</title>
		<link>https://newsverge.com/2026/04/03/flutterwave-secures-cbn-approval-for-banking-services/</link>
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		<dc:creator><![CDATA[Collins Yakubu-hammer]]></dc:creator>
		<pubDate>Fri, 03 Apr 2026 19:01:56 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189859</guid>

					<description><![CDATA[<p>Flutterwave has secured regulatory approval from the Central Bank of Nigeria (CBN) to provide banking services in Nigeria. The Founder and Chief Executive Officer of Flutterwave, Olugbenga Agboola, disclosed this in a statement issued on Friday in Abuja. Agboola said the development followed the company’s processing of more than 40 billion dollars in payments across [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/03/flutterwave-secures-cbn-approval-for-banking-services/">Flutterwave secures CBN approval for banking services</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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										<content:encoded><![CDATA[<p><em><strong>Flutterwave has secured regulatory approval from the Central Bank of Nigeria (CBN) to provide banking services in Nigeria.</strong></em><br />
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<p>The Founder and Chief Executive Officer of Flutterwave, Olugbenga Agboola, disclosed this in a statement issued on Friday in Abuja.</p>
<p>Agboola said the development followed the company’s processing of more than 40 billion dollars in payments across its platform within 10 years of operations.</p>
<p>He explained that the approval marked a significant milestone for the Lagos-based payments company, enabling it to expand beyond core payment infrastructure services into broader financial offerings.</p>
<p>“This milestone allows us to make our infrastructure more efficient and deliver faster, more reliable financial services.</p>
<p>“By operating directly within the financial system, we can streamline money movement, accelerate settlement for merchants, and build products that support sustainable long-term growth.</p>
<p>“Moreover, the development signals a growing shift in Nigeria’s financial technology sector, where leading fintech firms are increasingly moving closer to full-scale financial service operations.”</p>
<p>He further said the regulatory progress coincided with another initiative by the CBN involving the selection of several fintech firms, including Flutterwave and Paystack.</p>
<p>According to him, the initiative is designed to strengthen oversight of digital-asset service providers and ensure compliance with anti-money laundering and counter-terrorism financing standards as Nigeria’s digital finance ecosystem continues to evolve.</p>
<p>“Our platform has reflected the rapid expansion of digital payment adoption across Africa and among businesses that rely on the company’s infrastructure to receive and process transactions globally,” Agboola said.</p>
<p>He noted that the latest developments came only weeks after Flutterwave marked its 10th anniversary, a milestone that highlighted the company’s growth since its establishment in 2016.</p>
<p>He further explained that over the past decade, the fintech firm had expanded its payment network across numerous African markets.</p>
<p>He added that it had also built partnerships that allowed businesses to accept payments from customers around the world.</p>
<p>“What began as a payment gateway designed to simplify cross-border transactions has evolved into one of the continent’s most prominent financial technology platforms.</p>
<p>“Consequently, the combination of a banking licence, participation in the Central Bank’s virtual-asset pilot programme and a decade of operational growth underscores Flutterwave’s expanding role in Nigeria’s financial ecosystem.</p>
<p>“In addition, the company’s regulatory progress may further accelerate innovation in the country’s fintech landscape, particularly as regulators and financial technology firms seek to balance rapid digital growth,” he added. </p>
<p>The post <a href="https://newsverge.com/2026/04/03/flutterwave-secures-cbn-approval-for-banking-services/">Flutterwave secures CBN approval for banking services</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>FAAN diverts flights at MMIA due to electric spark</title>
		<link>https://newsverge.com/2026/04/01/faan-diverts-flights-at-mmia-due-to-electric-spark/</link>
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		<dc:creator><![CDATA[Itohan Abara-laserian]]></dc:creator>
		<pubDate>Wed, 01 Apr 2026 19:44:30 +0000</pubDate>
				<category><![CDATA[Aviation]]></category>
		<category><![CDATA[BUSINESS]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189810</guid>

					<description><![CDATA[<p>An electric spark on Wednesday compelled the Federal Airports Authority of Nigeria (FAAN) to divert flights from the Terminal 3 of the Murtala Muhammed International Airport, Ikeja. The FAAN Director of Public Affairs and Consumer Protection, Mr Henry Agbebire, said in a statement in Lagos that the terminal was shut following the spark in an [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/01/faan-diverts-flights-at-mmia-due-to-electric-spark/">FAAN diverts flights at MMIA due to electric spark</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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										<content:encoded><![CDATA[<p><em><strong>An electric spark on Wednesday compelled the Federal Airports Authority of Nigeria (FAAN) to divert flights from the Terminal 3 of the Murtala Muhammed International Airport, Ikeja.</strong></em><br />
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<p>The FAAN  Director of Public Affairs and Consumer Protection, Mr Henry Agbebire, said in a statement in Lagos that the terminal was shut following the spark in an operational office, which resulted in smoke emission at 2.05 p.m.</p>
<p>Agbebire said  that electrical maintenance was ongoing to ensure that all electrical systems would function optimally ahead of the terminal’s reopening.</p>
<p>“All flights that currently operate from Terminal 3 have been diverted to Terminal 2. Passengers are hereby advised accordingly.</p>
<p>“The situation is under control as personnel of the Aerodrome Rescue and Firefighting Services  promptly responded and contained the incident,” he added. </p>
<p>The post <a href="https://newsverge.com/2026/04/01/faan-diverts-flights-at-mmia-due-to-electric-spark/">FAAN diverts flights at MMIA due to electric spark</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>Ogun: NMDPRA cautions gas retailers against unsafe practices</title>
		<link>https://newsverge.com/2026/04/01/ogun-nmdpra-cautions-gas-retailers-against-unsafe-practices/</link>
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		<dc:creator><![CDATA[Joy Akinsanya]]></dc:creator>
		<pubDate>Wed, 01 Apr 2026 14:31:33 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=189804</guid>

					<description><![CDATA[<p>The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in Ogun has urged cooking gas retailers in the state to prioritise safety and avoid unwholesome practices capable of endangering lives and property. The NMDPRA State Coordinator, Dr Akinyemi Atilola, made the call on Wednesday during a stakeholders’ sensitisation workshop organised for Liquified Petroleum Gas (LPG) [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/04/01/ogun-nmdpra-cautions-gas-retailers-against-unsafe-practices/">Ogun: NMDPRA cautions gas retailers against unsafe practices</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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										<content:encoded><![CDATA[<p><em><strong>The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in Ogun has urged cooking gas retailers in the state to prioritise safety and avoid unwholesome practices capable of endangering lives and property.</strong></em><br />
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<p>The NMDPRA State Coordinator, Dr Akinyemi Atilola, made the call on Wednesday during a stakeholders’ sensitisation workshop organised for Liquified Petroleum Gas (LPG) retailers in Abeokuta.</p>
<p>Our correspondent reports that sensitisation workshop is with the  theme: “Gas Deepening and Expansion: Hazards Associated with Decantation Business and Operations.”</p>
<p>Atiliola said that LPG retailers play a critical role in the federal government’s gas expansion and utilisation programme, noting that they serve as the last link between suppliers and end users.</p>
<p>According to him, operators in the sector must strictly adhere to safety regulations and global best practices while conducting their businesses.</p>
<p>Atilola assured that the NMDPRA would continue to provide guidance and leadership to ensure sustainable growth in the gas sector.</p>
<p>He, however, warned that the authority would not hesitate to sanction operators found violating established safety standards.</p>
<p>Speaking on the theme, Atilola explained that LPG retailers fall under “Category D” operations, which are designed for a “drop-and-pick cylinder” model.</p>
<p>He noted that the approved model require customers to drop their empty cylinders and collect already filled ones.</p>
<p>The coordinator expressed concern that many operators had instead adopted the practice of “decanting”, which involves transferring gas from one cylinder to another.</p>
<p>According to him, decanting is a dangerous practice that could lead to overfilling, gas leaks, severe fire outbreaks, and possible explosions.</p>
<p>He urged retailers to discontinue the practice and strictly follow approved operational procedures or risk having their outlets sealed.</p>
<p>Atilola disclosed that the no fewer than five gas outlets were sealed and penalised in 2025 for breaching safety and operational guidelines, while several others were issued warnings.</p>
<p>He warned that the authority would intensify monitoring to ensure full compliance with regulations.</p>
<p>Speaking with journalists on the sideline of the event, Atilola described the engagement as a continuation of 2025 gas public sensitisation campaign aimed at promoting safe handling and expansion of LPG usage.</p>
<p>He said the workshop focused particularly on cylinder business operators who serve domestic consumers.</p>
<p>“We believe that while they are helping to deepen LPG utilisation, there must also be emphasis on the growth of the business and safety of the public, their businesses and home users.</p>
<p>“That is why we organised this engagement,” he said.</p>
<p>He reiterated that the NMDPRA, as the regulatory body for the midstream and downstream oil and gas sector, remains committed to supporting the federal government’s gas expansion drive under the Decade of Gas initiative.</p>
<p>Also speaking, Mr Ogunkoya Abiodun, Chairman of the Liquefied Petroleum Gas Retailers branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) in Ogun, commended the NMDPRA for its support towards the development of the gas industry.</p>
<p>Similarly, Engr Raifu Oyedele, Chairman of the Nigeria Association of Liquefied Petroleum Gas Marketers in the state, called for sustained collaboration with the regulatory authority, particularly in the areas of training and sensitisation of operators.</p>
<p>NAN reports that a  10-point communique was issued  at the end of the engagement, emphasising the need for self-regulation among LPG stakeholders.</p>
<p>It also tasked gas unions with organising regular training and safety retreats for their members.</p>
<p>The communiqué further urged operators to ensure proper scrutiny of cylinder integrity, avoid overfilling, and maintain continuous safety engagement with stakeholders.</p>
<p>Participants also agreed that decanting of LPG should be discouraged and that operators found engaging in the practice be penalised.</p>
<p>The post <a href="https://newsverge.com/2026/04/01/ogun-nmdpra-cautions-gas-retailers-against-unsafe-practices/">Ogun: NMDPRA cautions gas retailers against unsafe practices</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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