
Nigeria's external debt service obligations have risen sharply, reaching US$1.1 billion in the first quarter of 2024, a 40% year-on-year increase. 
This surge in debt servicing costs has raised concerns among economists and financial experts, who warn of the growing financial strain caused by the country's rising external debt and the steep depreciation of the Naira.
The breakdown shows that US$288 million of the debt service went toward market debt, while US$832 million was allocated to non-market debt, primarily loans from multilateral and bilateral lenders.
 The increase is largely attributed to principal repayments amounting to US$679 million, with US$551 million directed to multilateral lenders and US$128 million to bilateral lenders.
In local currency terms, the US$1.1 billion in debt service payments translates into N1.49 trillion, surpassing the federal government’s Q1 2024 revenue of N1.37 trillion. This has resulted in a concerning external debt service-to-revenue ratio of 108%


In 2023, Lagos State emerged as the highest performer in Nigeria’s Internally Generated Revenue (IGR) rankings, generating an impressive N840 billion, a figure far surpassing that of any other state. 
Rivers followed closely with N203 billion, while Ogun State reported N146 billion, reinforcing the success of these states in building strong revenue generation structures. 
Delta and Kaduna states were also notable contributors, with IGRs of N99 billion and N62 billion, respectively.
Despite the impressive performances from these states, the data also highlights a concerning trend in Nigeria’s fiscal landscape. While a few states continue to show strong fiscal health, a significant number of states are struggling to generate sufficient local revenue. Edo, Oyo, and Kwara states brought in N59 billion, N51 billion, and N48 billion in IGR, respectively, signaling a gap in their revenue-generation capacities


Dangote Refinery has resumed the purchase of crude oil from the United States to ramp up refining capacity and production.
According to a Bloomberg report on Wednesday, the cargo conveying two million barrels of WTI Midland crude from Chevron Corp. is due to be delivered to the refinery next month.
The new purchase comes after a three-month hiatus in purchasing crude from foreign countries, focusing instead on domestic supply.
The latest development may be an indication that the naira-for-crude deal by the federal government may have stalled or that the refinery is not getting enough crude supply from the Nigerian National Petroleum Company Limited.
Dangote refinery purchased its first shipment of US oil after a hiatus of three months as the site continues to ramp up production.
“The plant purchased about two million barrels of WTI Midland crude from Chevron Corp.,” the report said

The Nigerian Naira has depreciated 438% in six years, plunging from N307 to N1652 per US Dollar. This has fueled 32.7% inflation, up from 11.4% in 2019. The decline is attributed to structural economic weaknesses, dwindling foreign exchange reserves, and global economic pressures. The situation has eroded purchasing power, deepened poverty, and worsened living standards.

 N20m fine,  jail terms for Ponzi operators
.... as Akpabio urges robust investment environment

In a bid to ensure that illegal fund managers are not allowed to fleece unsuspecting Nigerians of their hard earned funds, the Securities and Exchange Commission is introducing an express prohibition of Ponzi/Pyramid Schemes and other illegal investment schemes.

These and others are contained in the Investments and Securities Bill (ISB) 2024 currently before the National Assembly.

The Bill proposes that promoters and operators of any entity engaged in a prohibited scheme commits an offence and is liable on conviction to a penalty of not less than N20,000,000 or imprisonment to a term of 10 years or both.

In his opening remarks at the Public Hearing held Thursday in Abuja, President of the Senate, Senator Godswill Akpabio, said the Investment and Securities Bill 2024 is not merely a legislative document; but a beacon of hope for the nation's economic landscape


At the 2024 International Financial Inclusion Conference, Central Bank of Nigeria (CBN) Governor highlighted financial inclusion as the “fulcrum upon which Nigeria’s economic growth rests,” signaling its critical role in transforming the nation into a $1 trillion economy. Speaking to a gathering of policymakers, international partners, and financial leaders, the Governor stressed that integrating millions of unbanked Nigerians into the formal financial system would unlock widespread economic benefits.

“Financial inclusion isn’t just a financial matter; it’s foundational to our national development,” the Governor declared, citing statistics from a recent survey revealing that 26% of Nigerian adults are financially excluded. This gap, he noted, constrains individuals and businesses from accessing essential services like credit and insurance, thereby stifling economic growth.

To address these barriers, the CBN has implemented ambitious policies through its National Financial Inclusion Strategy, launched in 2012. Recently, it introduced new minimum capital requirements for banks to strengthen their ability to serve underserved communities. “A well-capitalized banking sector is critical for supporting the MSMEs that form the backbone of our economy,” he said, emphasizing that MSMEs create over 80% of jobs in Nigeria but often lack access to the credit necessary for expansion.

The Governor also highlighted digital financial services as a game-changer, allowing millions in rural and underserved areas to access financial services via mobile technology. This, he noted, is especially impactful for women and youth, who are disproportionately excluded from formal finance but show high potential for entrepreneurial contributions.

Ending his address with a call to action, the CBN Governor commended the efforts of financial inclusion partners and underscored the need for continued collaboration across sectors to ensure that Nigeria’s growth is inclusive and far-reaching


NDIC Begins Sale of Heritage Bank’s Properties to Fund Liquidation Dividends for Uninsured Depositors

In a move aimed at ensuring a swift declaration of liquidation dividends to uninsured depositors, the Nigeria Deposit Insurance Corporation (NDIC) has initiated the sale of Heritage Bank’s landed properties and chattels.

This sale follows the NDIC’s authority under Section 62 (1)(d) of the NDIC Act, 2023, granting it powers to liquidate failed banks. The exercise follows an earlier sale of the bank’s assets in leased locations across Nigeria. Commencing December 4, 2024, the sales will span 36 locations and employ a competitive bidding process to maximize asset recovery, thus facilitating compensation for eligible claimants.
To prioritize financial inclusion, the NDIC will favor financial institutions that bid at top prices and can continue financial services at these properties. However, the auction remains open to all qualified corporate bodies and private individuals, ensuring transparency and fair competition.
Prospective buyers are invited to inspect the assets beforehand, with a required 10% bid security deposit for sealed bids, submitted at designated NDIC offices in Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.


President Bola Ahmed Tinubu's N200 Billion Intervention Fund Programme: A Boost to Nigeria's Industrial Sector

Since assuming office, President Bola Ahmed Tinubu has taken significant steps to bolster Nigeria's industrial and manufacturing sectors. One of the key initiatives is the N200 billion Presidential Intervention Fund Programme, aimed at supporting micro, small, and medium scale enterprises (MSMEs) and manufacturing companies. This programme is a testament to the president's commitment to driving economic growth and job creation.

The fund is divided into three components: the Presidential Conditional Grant Scheme (PCGS), the FGN MSME Intervention Fund, and the FGN Manufacturing Sector Fund. The PCGS provides N50,000 grants to nano-business owners, especially women and young people, across all local government areas. The FGN MSME Intervention Fund offers loans of up to N1 million to at least 75,000 beneficiaries, while the FGN Manufacturing Sector Fund provides support to eligible manufacturing businesses with loans of up to N1 billion

*Nigerians Seek Transparency in Government's N625Bn Aid Distribution*

The Nigerian government's recent claim that it has distributed N625 billion to 25 million citizens has sparked outrage and skepticism among the public ¹. The announcement, made by the Minister of Finance alongside President Bola Tinubu, was intended to alleviate economic hardships, but has instead raised concerns over transparency and accountability ¹. Many citizens are questioning the legitimacy of the process and the identities of the purported beneficiaries, with some even alleging corruption against government officials ¹.

Critics are demanding evidence of the beneficiaries, asking, "Where are the 25 million Nigerians?" ¹. The government's assertion that many beneficiaries lack bank accounts has not mitigated skepticism, and the requirement for all Nigerians to have a National Identification Number (NIN) has raised further questions ¹. With the public demanding clarity regarding the distribution process and proof that assistance has reached those in need, the government faces urgent demands for transparency ¹.



Labour Warns FG of Imminent Unrest over Fresh Petrol Price Hike

On the heels of the recent unprecedented hike in the pump price of Premium Motor Spirit (PMS), the organised Labour on Wednesday, frowned at the latest hike, saying it was over-stretching Nigerians.
It advised the government to be wary of the silence of Nigerians in the midst of excruciating hardship and misery being inflicted on them, saying even a goat can bite when pushed to the wall.
This is even as an employer group, the Chemical and Non-Metallic Products Employer’s Federation, CANMPEF, said the petrol price increases, occasioned by subsidy removal, had led to an increase in transportation/logistics, production costs, the decline in household income and purchasing power.
Labour’s warning came on a day the Independent Petroleum Marketers Association of Nigeria, IPMAN, said its members wait for days to load petrol from Dangote Refinery in Lagos, despite paying N40 billion to the Nigerian National Petroleum Company Limited, NNPCL

*Nigerians Call for Power Minister's Sacking as Outage Lingers

Nigerians are demanding the removal of Power Minister Adebayo Adelabu due to an 11-day power outage in Northern states ¹. The President of the Nigeria Consumer Protection Network, Kunle Olubiyo, and the Lead Director of the Centre for Social Justice, Eze Onyekpere, are among those calling for Adelabu's sacking ¹. The outage has caused widespread disruption, with residents of Kaduna and other parts of Northern Nigeria crying out that the blackout has grounded businesses in the region ¹.

Nigeria Aims to Launch Diaspora Bond in the US to Reach $1 Billion in Monthly Remittances 

Nigeria is considering launching a diaspora bond in the United States to achieve its goal of $1 billion in monthly remittance inflows. The Central Bank of Nigeria's governor, Olayemi Cardoso, announced this during an interview with Reuters in Washington, DC. Cardoso noted that Nigerians abroad are eager to invest in their home country, and the government's recent reforms have already led to a significant increase in remittances. The diaspora bond, which could be launched in 2025, aims to tap into the investment appetite of Nigerians living in the United States, who are keen to invest in assets and businesses back home.


FG Announces Plan to Increase Value-Added Tax (VAT) Rate to 15%



In a move aimed at boosting local revenue mobilization and strengthening public finance buffers, the Federal Government of Nigeria has announced plans to increase the Value-Added Tax (VAT) rate from 7.5% to 15%. This significant hike is part of a broader effort to address the country's low revenue profile and improve tax compliance, particularly in the area of company income tax.

According to a document prepared by the Ministry of Finance, the government intends to "progressively increase the VAT rate from 7.5% to 15%." This move is expected to help Nigeria achieve an 18% tax-to-GDP ratio, which is the average across major economies in Africa. Currently, the country's tax-to-GDP ratio stands at 10%, one of the lowest in the Sub-Saharan Africa region.

The planned increase in VAT rate has been a topic of discussion for several months, with rumors circulating about a potential hike. In September, the Minister of Finance, Wale Edun, denied plans to increase the VAT rate to 10%, following criticism from Nigerians, including former Vice President Atiku Abubakar.

However, the latest announcement confirms that the government is moving forward with its plan to increase the VAT rate. The World Bank has also advised the federal government to raise the VAT rate to increase non-oil revenue and strengthen fiscal resources.



Telcos Threaten to Disconnect Banks from USSD Services Over N250bn Debt

The CEO of MTN Nigeria, Karl Toriola, has warned that telecommunication companies (telcos) may disconnect banks from the unstructured supplementary service data (USSD) platform due to a debt of N250 billion. USSD, also known as quick or feature codes, is a global system for mobile communications (GSM) protocol used for financial transactions. The debt has been accumulating since 2019, and telcos have been seeking a tariff adjustment to reflect the realities of the economy.

Toriola stated that the debt has become unsustainable for the operators and may lead to a disconnection of banking services on the USSD platform, subject to regulatory approval. He expressed optimism that the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) would resolve the impasse soon.

The telecom sector is facing a critical situation, with MTN and other operators struggling to maintain profitability due to naira devaluation, inflation, and rising costs. Toriola warned that if the government does not approve a tariff adjustment, the company may shut down, and the industry may collapse.


FG, States, LGs Share N1.298trn September Revenue



The Federal Government, States, and Local Government Councils have shared a total sum of N1.298 trillion for the month of September 2024. This revenue distribution was announced at the October 2024 meeting of the Federation Accounts Allocation Committee (FAAC) in Abuja.

According to the communiqué issued by FAAC, the total revenue of N2.258 trillion was available in September 2024. However, total deductions for cost of collection, transfers, interventions, and refunds amounted to N878.946 billion, leaving a net distributable revenue of N1.298 trillion.

The breakdown of the distribution shows that the Federal Government received a total sum of N424.867 billion, while the State Governments received N453.724 billion. The Local Government Councils received N329.864 billion, and a total sum of N90.415 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue



In a bid to protect its residents from the scourge of preventable diseases, the Lagos State Government (LASG) has launched a massive immunization drive in partnership with the United Nations Children's Fund (UNICEF). The campaign, which kicked off on October 19th, aims to immunize 18 million Lagos residents against measles, yellow fever, and other vaccine-preventable diseases.

According to the Permanent Secretary, Lagos State Primary Healthcare Board, Abimbola Bowale, the goal of the exercise is to achieve herd immunity by ensuring that at least 95% of the eligible population receive the measles vaccine and 80% receive the yellow fever vaccine. He emphasized that the activities are not merely operational tasks but life-saving interventions that contribute to the health and well-being of future generations.

The State Immunization Programme Coordinator, IPC for Lagos State Primary Healthcare Board, Adetola Akinpelu, noted that the outbreaks show an immunity gap in the community, which the state-wide immunization activity aims to close while ramping up routine immunization processes in the states.

UNICEF Social and Behavioural Change Specialist, Aderonke Akinwole, said the fund intends to employ the help of journalists to combat myths through credible and easy-to-understand content, which will promote and increase vaccine trust and acceptance. She noted that measures are in place in collaboration with the Lagos State Government to deploy qualified personnel, potent vaccines, and other equipment to ensure the success of the exercise.


The compulsory taxpayer identification number (TIN) for individuals in Nigeria has sparked intense debate ¹. The policy aims to broaden the tax net and increase revenue, but critics worry about potential privacy violations, increased surveillance, and the burden on small businesses and individuals ¹.

Individuals and business entities chargeable under different conditions as prescribed by the government are required to have a TIN ¹. The Federal Inland Revenue Service (FIRS) established the TIN in 2008 to enhance accountability of tax revenue ¹. The TIN is a dynamic consecutive set of numbers generated electronically to all forms of taxpayers, made up of individuals and corporate bodies ¹.

Supporters argue that the TIN will enhance taxpayer identification and registration, bring more taxpayers into the tax net, minimize errors and mistakes associated with manual registration, and reduce multiple taxations ¹. However, critics are concerned about the potential impact on privacy and the additional burden on individuals and small businesses 

what we are focusing on today 

Banks' Tech Upgrade Causes Service Disruptions Nationwide

Nigerian bank customers are experiencing service disruptions nationwide as banks embark on a massive technology upgrade. The upgrade, which aims to improve operational efficiency and enhance customer experience, has already caused disruptions for customers of several banks.

Industry sources say that the upgrade is a necessary evil, as banks need to strengthen their technology infrastructure to keep up with the increasing demand for digital banking services. However, the upgrade process is complex and time-consuming, involving the migration of customer data and integration with various channels such as ATMs, USSD, and internet banking.

Customers are advised to be patient and prepare for potential disruptions to their banking services in the coming weeks and months. Banks are working hard to minimize the impact of the upgrade on customers, but some disruptions are unavoidable.

The upgrade is expected to bring several benefits to customers, including improved security, faster transaction processing times, and enhanced mobile banking services. However, the short-term pain of service disruptions is causing frustration for many customers.

"We apologize for the inconvenience caused by the upgrade," said a spokesperson for one of the affected banks. "We are working hard to complete the upgrade as quickly as possible and minimize the impact on our customers."

In the meantime, customers are advised to plan ahead and make alternative arrangements for their banking needs. The upgrade is expected to be completed within the next few weeks, and customers will be notified as soon as the upgrade is complete.

Some customers have taken to social media to express their frustration with the service disruptions. "I can't believe my bank is doing this to me," said one customer on Twitter. "I need to pay my bills and I can't even access my account."



This week Edition focuses on the Time for CBN to Take Action especially on the frequency fail network

The frequent breakdown of bank services in Nigeria is a clear indication that the CBN needs to take action. Customers deserve better services, and it's time for the CBN to regulate the banking sector effectively.
"We can't continue to suffer because of the CBN's inaction," said another customer. "We need reliable bank services to conduct our daily business."
The CBN needs to take decisive action to address the frequent breakdown of bank services in Nigeria. This includes regulating banks, investing in technology, enhancing cybersecurity, and providing better customer support. By taking these steps, the CBN can ensure that bank customers receive the reliable and efficient services they deserve

Emirates Airlines Makes Triumphant Return to Nigeria


Emirates Airlines has officially resumed operations in Nigeria after a two-year hiatus, with a grand inaugural flight to Lagos. The airline's leadership has confirmed that they are back for good, with daily services between Lagos and Dubai.
The return of Emirates Airlines to Nigeria marks a significant milestone in the airline's operations in the West African market. The airline's inaugural flight to Lagos was met with excitement and fanfare, with top Emirates and Nigerian aviation officials in attendance.
Adil Al Ghaith, Senior Vice President of Commercial Operations, Gulf, Middle East, and Central Asia, expressed his excitement about the airline's return, stating that Nigeria has always been one of their most important markets. Minister Festus Keyamo, Honourable Minister of Aviation and Aerospace Development, also expressed his optimism about the future, hinting at broader business opportunities between Nigeria and the UAE beyond the resumption of flights.
The return of Emirates Airlines is set to regain its position as a leading airline in the Nigerian market, offering daily services between Lagos and Dubai. This development is expected to boost trade and tourism between Nigeria and the UAE, and further strengthen the ties between the two nations.

Nigeria's 64th Independence Day is a bittersweet celebration as the country faces its worst economic crisis in generations ¹. The government's recent policies have led to a rise in the cost of living, food prices, and fuel prices, pushing many citizens into poverty ². The situation is critical, with 4.8 million people struggling to access food, and the most vulnerable groups include children, pregnant women, older persons, and people living with disabilities.

Despite the challenges, some Nigerians are finding ways to cope with the rising food prices. Many citizens are frustrated over the worsening economic situation, rise in cost of living which has significantly impacted their living condition and purchasing power in the last one year ². Some are growing their own food, like Mrs. Chioma Ndubisi, a civil servant who has started growing her own tomatoes and peppers in her backyard ². Others are buying lower quality food or eating fewer meals ².

The government has launched an urgent appeal for $306 million to provide essential assistance to those in dire need ². However, many citizens are unhappy with the government's policies and are planning to protest ². The President's reforms have brought untold hardship and further impoverished them; they are fed up with the hardship in the land, and want a reversal of his reforms and immediate return of petrol subsidy to ease their suffering ².

As Nigeria marks its Independence Day, many citizens are reflecting on the country's progress and the challenges that lie ahead ². "We have come a long way since independence, but we still have a long way to go," said Mr. Nnamani Ogbonna, a businessman ². "We need to work together to address the issues of food security and inflation, so that every Nigerian can have access to nutritious food and a decent standard of living."

Food Price Relief: Tomatoes and Yam Prices Drop Amidst Economic Hardship in Nigeria



The National Bureau of Statistics (NBS) has revealed that the prices of tomatoes and yam tubers have dropped in August 2024, providing some relief to Nigerians amidst the prevailing economic hardship. According to the NBS' Selected Food Prices Watch for August 2024, the prices of tomatoes and yams declined on a month-on-month basis, but remained high on a year-on-year basis.

The price of 1kg of tomatoes decreased by 11.07% month-on-month from N1,693.83 in July 2024 to N1,506.35. This decrease is a welcome relief for Nigerian consumers who have been struggling with high food prices. Additionally, the average price of 1kg of yam tuber decreased by 7.82% month-on-month from N1,802.84 in July 2024.

However, the price of yam tuber increased by 188.31% on a year-on-year basis from N576.39 in August 2023 to N1,661.80 in July 2024. This significant increase highlights the ongoing challenges in the food market.

Despite the drop in prices of tomatoes and yams, the prices of other essential food items such as beans, rice, bread, and eggs have continued to rise in Nigeria. The August headline and food inflation stood at 32.15% and 37.52%, respectively.

Education Gap in Nigeria's Labor Force

A recent report from the National Bureau of Statistics highlights a concerning gap in educational attainment among Nigeria's labor force ¹. The report shows that a staggering 86% of 88.9 million Nigerians in the labor force lack post-secondary education, with only 12.3 million people (14%) having received post-secondary education. This significant divide in education levels poses substantial challenges for Nigeria's competitiveness on the global stage and hinders economic growth and development.

*Breakdown of Education Levels in the Labor Force*

- 24.3 million people (81.6%) have no formal education, with 79% employed in informal sectors like agriculture and trading.
- 23.1 million individuals have primary education, with a labor force participation rate of 65.6% and an employment rate of 62.9%.
- 29.2 million people have secondary education, with a labor force participation rate of 77.7% and an employment rate of 72.5%.
- 11.7 million individuals have post-secondary education, with the highest labor force participation rate at 87.9%, but 9.4% remain unemployed.
- 606,020 individuals have postgraduate education, with the lowest unemployment rate at 3.8% and high employment rates in specialized fields.

MEDICAL INFLATION CRISIS: Nigerians Lament as Healthcare Costs Soar

A devastating medical inflation crisis is gripping Nigeria, leaving a trail of suffering and despair in its wake. The country's already fragile healthcare system is buckling under the weight of soaring medical costs, forcing patients to choose between life-saving treatments and financial ruin.

The latest statistics reveal a staggering 25% increase in medical inflation over the past year, far outpacing the country's general inflation rate. This has resulted in a catastrophic situation where patients are being turned away from hospitals due to unaffordable costs.

"We are facing a medical emergency in Nigeria," said Dr. Ahmed, a leading healthcare expert. "The government must act swiftly to address the root causes of medical inflation and ensure that healthcare is accessible to all, not just the privileged few."

The crisis has already claimed numerous lives, including a young mother who succumbed to a treatable illness due to unaffordable hospital bills. The situation is further compounded by a shortage of medical professionals, inadequate infrastructure, and a lack of affordable healthcare options

As Nigeria's economy continues to struggle, financial experts are urging the Central Bank of Nigeria (CBN) to pause interest rate hikes. This call comes ahead of the CBN's Monetary Policy Committee (MPC) meeting scheduled for Monday and Tuesday to review key monetary policies, including interest rates.

Professor Uche Uwaleke, a financial economist and Director at the Institute of Capital Market Studies, emphasized the need to stabilize the economy. He pointed out that the recent moderation in inflation, recorded in July and August, provides a compelling case for halting further rate hikes. Uwaleke also noted that major global central banks like the U.S. Federal Reserve have begun pausing or cutting rates, with institutions like the Bank of England and the European Central Bank expected to follow suit.

"The recent moderation in inflation, recorded in July and August, provides a compelling case for halting further rate hikes. Additionally, major global central banks like the U.S. Federal Reserve have begun pausing or cutting rates, with institutions like the Bank of England and the European Central Bank expected to follow suit," Uwaleke said

The Nigerian stock market witnessed a surge in buying activity on September 18, 2024, as investors showed confidence in the market. The NGXASI saw a significant increase in buying interest, with 99% of transactions being buys and only 1% being sells. The volume index stood at 0.74, indicating a moderate level of trading activity.
The top gainers of the day were Geregu, Daar, and Tantalizer, all of which saw 100% buying interest. Other notable gainers included Accorp, Afriprud, and Aiico, which saw significant buying interest as well.
On the other hand, the top losers of the day were Chams, Jagold, and UPDC, which saw significant selling pressure. However, it's worth noting that even among the losers, there were still some buyers present, indicating that the market is not entirely bearish.
The MFI (Money Flow Index) readings for the day showed that most stocks were oversold, with many stocks having MFI readings below 50.

Cash Crisis: Banks Ration Cash, ATMs Dispense Little, Customers Groan




The cash crisis in Nigeria has taken a toll on bank customers, who are struggling to access their money. Despite the presence of Automated Teller Machines (ATMs), customers are finding it difficult to withdraw cash, as banks continue to ration cash and ATMs dispense little.

The situation has led to frustration among customers, who are forced to rely on alternative means such as Point of Sale (PoS) operators, who charge exorbitant fees. The cash crunch has also led to a decrease in economic activities, as businesses struggle to access cash to operate.

Experts have attributed the cash crisis to several factors, including the high cost of running ATMs, the acquisition and merging of major banks, and the shift to digital banking. However, the situation remains a challenge for customers, who are calling on banks to address the issue.

The Central Bank of Nigeria (CBN) has initiated measures to promote a cashless economy, but the progress has been slow. The government needs to accelerate efforts to harness the benefits of a cashless society, enhance economic growth, and reduce financial risks.

EFCC to Probe Banking Chiefs Over Fraud

The Economic and Financial Crimes Commission (EFCC) has announced plans to investigate and prosecute top banking executives for their alleged roles in facilitating financial crimes in Nigeria. This move has been met with mixed reactions from stakeholders, with some hailing it as a necessary step to curb corruption and others expressing concerns about the potential impact on the banking sector.

According to the EFCC Chairman, Olanipekun Olukoyede, the commission has compiled evidence and is ready to begin prosecutions. He stated that the banking sector has been identified as a major conduit for corruption and that top officials will be held accountable.

The EFCC's move is seen as a response to the growing concern over financial crimes in Nigeria, which has led to significant economic losses and undermined public trust in the banking system. However, some experts have raised concerns about the potential impact on the banking sector, citing the need for careful handling to avoid destabilizing the financial system.

While the EFCC's plan to probe banking chiefs is a welcome move, it is crucial to ensure that the investigation is thorough, transparent, and fair. The banking sector plays a critical role in the economy, and any actions taken must be carefully considered to avoid unintended consequences.

As the EFCC prepares to take action, it is essential to remember that the fight against corruption requires a collaborative effort from all stakeholders, including the government, regulatory agencies, and the private sector. Only through a collective commitment to transparency and accountability can Nigeria hope to tackle the scourge of corruption and promote economic growth and development.

Families Struggle to Cope as Cost of Hiring House Helps Soars Amidst Inflation"

The soaring inflation and rising cost of living in Nigeria have impacted various sectors of the economy, and the domestic help industry is no exception. Many Nigerian families are being forced to reassess their reliance on maids due to the escalating expenses associated with their services. Amid this economic turmoil, the once-affordable service of hiring a housemaid has now become a luxury for many.

For families like that of Monica Etugbo, a mother of six, the burden of hiring domestic help has become overwhelming. "I need help, especially when all the children are not around," she explains, highlighting her need for assistance in managing household chores. "But with the way the economy is now, you're not able to take good care of yourself and you want to take out from the little you have, to pay somebody else? You have to manage."

Monica recounts a time when paying N10,000 to N15,000 for a maid was sufficient. However, today the cost has surged to as high as N40,000 to N50,000 per month. This increase, nearly a 300% rise, mirrors the broader inflationary trends affecting the country. Essentials like food items have seen a similar rise; for instance, Monica notes that the price of garri has jumped from N2,000 to N5,000 per paint bucket—a stark 150% increase.

She reflects on the toll this has taken on retirees and those with fixed incomes, explaining how hard it has become for people to even contemplate employing domestic help

Lagosians Feel the Heat as Fuel Prices Soar: Turning Off ACs and Turning to Public Transport"

As fuel prices continue to skyrocket in Lagos, residents are being forced to adopt new strategies to manage the increasing costs of commuting. With petrol prices now exceeding N850 per litre at NNPC stations and as high as N1,100 at other retail outlets, many are turning off their car air conditioning to save on fuel consumption. Others are exploring more fuel-efficient modes of transportation, such as public transport, to navigate the financial burden of soaring fuel costs.

The fuel price hike has led to a surge in transportation costs, with many residents seeing their expenses skyrocket. For Oluwatosin, a Lagos resident who regularly drives from the Mainland to the Island, the soaring price of petrol has made even small comforts like using his car's AC an unaffordable luxury. "The truth is, no matter your income, the fuel hike hits everyone's pocket hard," he explained. "Fuel prices affect everything—food, transportation, and daily commodities. Personally, my expenses have skyrocketed, cutting deep into my income and savings."

As fuel prices continue to climb, Lagosians are adopting a variety of strategies to manage the financial strain. While many residents are turning to public transport as a more affordable option, others are employing different tactics such as turning off their car's air conditioning, cutting down on unnecessary trips, and exploring more fuel-efficient vehicles to mitigate rising expenses

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11. サービスおよびすべての出版物は、「現状のまま」および「入手可能な状態」で提供されます。 MAGZTER、その関連会社、サプライヤー、ライセンサーおよび代理店は、明示的か黙示的かを問わず、商品性、特定目的への適合性、および権利侵害の非侵害に関する黙示的な保証を含むがこれらに限定されない、あらゆる種類の保証を明示的に否認します。上記を制限することなく、MAGZTER もその関連会社、サプライヤー、ライセンサー、代理店も、(I) サービスがお客様の要件を満たすこと、(II) サービスが中断されず、タイムリーに、安全に、またはエラーが発生しないことを保証しません。 III) サービスの使用から得られる情報、または出版物に含まれる情報が正確または信頼できるものである、または (IV) 出版物またはサービスの品質がお客様の期待に応えるものであること。信頼できるインターネット接続とデバイスの取得と維持については、お客様が単独で責任を負います。 MAGZTER は、お客様がコンテンツをダウンロードできないことについては責任を負いません。ダウンロードまたはサービスの使用を通じて取得したマテリアルは、お客様自身の裁量とリスクで行われ、かかるマテリアルのダウンロードに起因するコンピューター システムまたはモバイル デバイスへの損害またはデータの損失については、お客様が単独で責任を負うものとします。口頭か書面かを問わず、お客様が magzter から、またはサービスを通じて、またはサービスから得たアドバイスや情報は、いかなる保証も生じません。

2.お客様は、その情報を真実、正確、最新かつ完全なものに保つために維持し、速やかに更新するものとします。あなたは、自分のアカウントとパスワードの機密性を維持し、自分のコンピュータへのアクセスを制限する責任を負い、すべてのコンテンツとサービスの選択と使用を含む、自分のアカウントで行われるすべての活動に対する責任を受け入れることに同意します。

3. いかなる場合においても、Magzter.com、ウェブサイトおよびアプリケーション上のコンテンツの作成、制作、配布に関与する個人、団体、第三者は、契約上または法的責任を負いません。 Magzter.com の使用中または使用中にお客様に発生した直接的、間接的、付随的、特別、および結果的。 Web サイトに登録するか、アプリケーションをダウンロードすることにより、このセクションに記載されている規定が Web サイトおよびアプリケーションのすべての使用およびコンテンツに適用されることに同意するものとします。

3. Magzter からの事前の書面または許可がない限り、ここに公開されているものはすべて Magzter またはそのライセンサーの専有財産であるため、Magzter から取得したコンテンツを変更、コピー、配布、販売してはなりません。このような不正使用は、著作権法や商標法を含む適用法に違反する可能性があるため、Magzter はこれらを厳しく禁止し、そのような違法行為が証明または検出された場合は、アクセスとアカウントを停止します。また、これらの不正行為によって生じた損害についても責任を負う必要があります。出版物の法的所有者が許可する場合を除き、お客様は、サービスを通じてアクセスした出版物をダウンロードすることによって所有権を取得しないことを承認するものとします。著作権法で明示的に要求されている場合、またはサービスの機能によって許可されている場合を除き、変更、リバース エンジニアリング、公開、送信、表示、譲渡または販売への参加、派生作品の作成、またはいかなる形であっても商業的に利用または提供することはできません。 Magzter およびかかるコンテンツの所有者の明示的な許可なしに、アプリのコンテンツ、出版物、またはそれらの一部を第三者に提供すること。当社は、明示的か黙示的かを問わず、Magzter または Magzter のライセンサーの知的財産に対するライセンスを付与しません。

5. あなたは、Magzter.com が他のユーザーや第三者、またはそのコンテンツのいかなる種類の中傷的、攻撃的、または違法な行為に対して責任を負わないこと、および前述の行為による傷害のリスクは完全にあなたにあることを特に認めます。

8. Magzter は、お客様が本利用規約および Magzter が定めるその他の運用規則に準拠しているかどうかを判断する目的で、お客様が公開および入力したコンテンツを監視するすべての権利を留保します。 Magzter は、コンテンツについて決定を下し、独自の意志で削除する権利を有します。

9. Magzter は出版物の販売代理店であり発行者ではないため、Magzter は雑誌に掲載されている意見、アドバイス、声明、サービス、オファーなどを含むコンテンツに対する編集管理を行いません。したがって、Magzter は、そこで提供される情報や事実、または公式の資格に従って行動する Magzter の認定従業員以外の者がサービスを通じて利用できる情報や事実の正確性や信頼性について責任を負いません。したがって、当社には出版物に対する編集上の管理権がありません。本サービスが提供する出版物で行われた意見、アドバイス、声明、サービス、オファー、または第三者によって表明または利用可能にされたその他の情報またはコンテンツは、それぞれの著者または出版社のものであり、第三者のものではありません。マグザー。 Magzter は、サービスを通じてまたは出版物から得た情報への信頼によって生じた損失または損害に対して責任を負いません。本サービスには、他のインターネット サイトおよびサードパーティのリソースへのリンクが含まれている場合がありますが、Magzter は、そのようなリンクされたサイトで利用可能な通信またはマテリアルについては一切の責任を負いません。これらのリンクは便宜のためにのみ提供されています。サードパーティのサイトにアクセスしたり、サードパーティのサイトを通じて注文したりするときに適用される利用規約を理解するのは、お客様自身の責任です。

不快なコンテンツの詳細（プラットフォーム上のリンクを含む）

お気に入りの作品をダウンロードすれば、いつでもどこでもオフラインで読むことができます

愛する人に Magzter ギフト カードをすぐに贈り、何千ものベストセラー タイトルの中からお気に入りの雑誌や新聞を自由に読めるようにしましょう。

Gift your loved ones with a Magzter Gift Card instantly and give them the freedom to read their favorite magazines from thousands of best-selling titles.

{{magCount}}冊の人気のインターナショナル雑誌からお気に入りの雑誌を自由に選べるMagzterギフトカードを、大切な人に今すぐ贈りましょう。

Girish Ramdas は、世界的なデジタル出版ビジネスで話題を呼んでいる、ニューヨークを拠点とする新興企業 Magzter の共同創設者兼 CEO です。 Magzter は 2011 年のサービス開始以来、150 か国以上から 9,000 万人のユーザーを獲得しており、世界中の 4,500 以上の出版社から数千冊の雑誌、新聞、書籍が提供されています。彼は、印刷物、モバイル、Web 開発を含むクロスプラットフォーム出版において 25 年以上の経験があります。この期間中、彼は 3 つの新興企業を共同設立し、経営して成功を収めてきました。彼は雑誌社のデジタル化を可能にし、デジタル世界でコンテンツの収益化を支援してきました。ギリッシュは、オンライン、モバイル、出版エコシステムにおける深い業界経験により、世界中のプラットフォームにわたるデジタル コンテンツの取得、マーケティング、収益化の専門家となっています。

当社のプラットフォーム上で不快なコンテンツに遭遇した場合、当社はお客様の懸念に対処するために苦情救済ポリシーを導入しました。

Magzter Inc. (「当社」、「当社」、「当社」) は、お客様がご自身の個人情報がどのように使用および共有されるかについて関心を持っていることを承知しています。当社のプライバシー慣行の詳細については、次のプライバシー ポリシー(「ポリシー」) をお読みください。当社が運営するウェブサイトおよびそのサブドメインのいずれかにアクセスするか、当社のモバイル アプリケーションやその他のコンテンツ配信方法(総称して「サービス」) を使用することにより、概要が説明されている慣行およびポリシーに同意したことになります。本ポリシーに記載されており、お客様は、当社がお客様の情報を以下の方法で収集、使用、共有することに同意するものとします。

Magzter Inc. は、世界最大かつ急速に成長しているセルフサービスのクロスプラットフォーム デジタル ニューススタンドで、2011 年の創業以来 9,000 万人を超えるユーザーがおり、40 以上のカテゴリ、60 以上の言語にわたる数千の雑誌や新聞を扱っています。ニューヨークに本社を置く Magzter は、アムステルダム、ロンドン、メキシコシティ、チェンナイ、ムンバイ、ニューデリー、バンガロール、シンガポールに現地拠点を置いており、間もなく他の国にも拡大する予定です。 2011 年 6 月に世界的起業家であるギリッシュ ラムダス氏とビジェイ ラダクリシュナン氏によって設立された Magzter は、世界中の雑誌や新聞の出版社が自社のタイトルのデジタル版を作成し、世界中の消費者に配信できるようにします。

Magzter は、ユーザーに安全なプラットフォームを提供することに尽力しています。 Magzter は、パブリッシャーがコンテンツを配布するためのプラットフォームにすぎないことに注意してください。当社は、当社のプラットフォームで公開されるコンテンツを管理または推奨しません。当社は、発行者の行動またはそのコンテンツに対して責任を負いません。

Magzter は、コンテンツまたはコンテンツの一部が権利を侵害したために損害を被った、または費用が発生した当事者を補償する責任を負いません。 Magzter は、第三者の権利を侵害するコンテンツまたはコンテンツの一部に起因する権利侵害について、民事裁判所で法的措置を講じる責任を負いません。

Magzter は、Magzter GOLD と呼ばれる世界最大の「読み放題」サブスクリプション サービスを提供しています。これにより、デジタル読者は月額サブスクリプション料金で 9,000 以上の雑誌や新聞に無制限にアクセスできます。 Magzter はまた、アプリ向けの革新的な ezRead 2.0 機能により、世界最大の記事数を誇ります。これにより、スマートフォンや小さな画面のモバイル ユーザーは、本来の楽しみ方で雑誌コンテンツを楽しむことができます。読みやすく、素晴らしいビデオと高解像度の写真が付いています。

名前

Magzterでのコンテンツ発行に関するサポートが必要は場合は、このフォームに記入してください

 Magzter に入社する前は、Dot Com Infoway (DCI) および Galatta Media の社長を務めていました。彼の任務には、戦略的マーケティング、パートナーシップ開発、コンテンツの世界的な収益化が含まれていました。 DCI は、2000 年には 3 人だった小さなチームから、2011 年には 300 人にまで成長し、世界中のクライアント向けに Web、ソフトウェア、アプリの開発を手がけていました。

Magzterの開始以来、お客様に最高のニューススタンドテクノロジーとサービスを提供するため、世界各国の組織や機関と提携することに尽力してきました。雑誌の購読を顧客に提供したい場合や単に詳細に興味がある場合など、お気軽にお問い合わせください。Magzterはお客様のビジネスの成長を支援いたします。お問い合わせ内容について、以下の質問票にご記入ください：

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 DMCA では、元の DMCA 通知を提出した当事者が反対通知のコピーを受け取ってから 10 営業日以内にお客様に対して訴訟を起こさない場合、当社は削除されたコンテンツを復元することができます。

このポリシーは、お客様がサービスにアクセスする際に当社が収集する、個人を特定できる情報(「個人情報」) およびお客様およびお客様のコンピューターまたはデバイスに関するその他の情報の当社の取り扱いを対象としています。以下で詳しく説明するように、当社はお客様から個人情報を収集することがあります。当社はこの個人情報を、当社の製品、サービス、コンテンツ、広告をパーソナライズ、提供、改善するため、またお客様がユーザー アカウントとプロフィールを設定し、お客様に連絡し、特定の製品やサービスに対するお客様のリクエストを満たし、お客様によるサービスの使用状況を分析するため。場合によっては、当社は一部の個人情報を第三者と共有する場合もありますが、これはポイント 4 に記載されているとおりに限られます。

このタイトルは Magzter GOLD サブスクリプションに含まれています

コンテンツの品質を分析し、パブリッシャーに適切なフィードバックを提供するため

当社では、不快なコンテンツに関するあらゆる苦情に対応する苦情担当者を任命しています。

不快なコンテンツに関する苦情は、上記の電子メール アドレスに電子メールで苦情担当者に送信するようお願いします。また、苦情を申し立てる際には、以下の詳細を提供するようお願いします。

さまざまな雑誌、書籍、ニュース、雑誌および出版物関連コンテンツ (総称して「出版物」と呼ばれます) を注文、購読、配信を受け取り、これらの出版物のデジタル版を配信する機能を提供するアプリ

c.また、パーソナライズされた推奨事項を作成するために、アプリケーションの使用に関連する情報も収集します。お客様がサードパーティのアカウント資格情報を当社に提供した場合、お客様がそのような送信を許可した場合、それらのアカウント内の一部のコンテンツおよび / または情報(以下「サードパーティのアカウント情報」) がお客様のアカウントに送信される可能性があること、およびそのサードパーティのアカウントが当社のアカウントに送信される可能性があることを理解したものとします。サービスに送信される情報は、本ポリシーの対象となります。

 f.当社が収集する個人情報により、当社はお客様のリクエストに対応し、当社の製品とサービスを改善し、お客様に表示される広告とコンテンツをカスタマイズし、新製品についてお客様に連絡することができます。

は、2011 年の設立以来 9,000 万人を超えるユーザーがおり、40 以上のカテゴリと 60 以上の言語にわたる数千の雑誌や新聞を擁する、世界最大かつ急速に成長しているセルフサービスのクロスプラットフォーム デジタル ニューススタンドです。ニューヨークに本社を置く Magzter は、アムステルダム、ロンドン、メキシコシティ、チェンナイ、ムンバイ、ニューデリー、バンガロール、シンガポールに現地拠点を置いており、間もなく他の国にも拡大する予定です。 2011 年 6 月に世界的起業家であるギリッシュ ラムダス氏とビジェイ ラダクリシュナン氏によって設立された Magzter は、世界中の雑誌や新聞の出版社が自社のタイトルのデジタル版を作成し、世界中の消費者に配信できるようにします。

 n.また、ユーザーが当社の利用規約を遵守していることを確認するために、使用状況情報も使用されます。たとえば、ユーザーの使用状況情報は、ユーザーが雑誌やその他のコンテンツを許可された回数、または許可された数のデバイスにのみダウンロードしていることを確認するのに役立ちます。

これにより、デジタル読者は月額購読料で 9,000 以上の雑誌や新聞に無制限にアクセスできるようになります。 Magzter はまた、アプリ向けの革新的な ezRead 2.0 機能により、世界最大の記事数を誇ります。これにより、スマートフォンや小さな画面のモバイル ユーザーは、本来の楽しみ方で雑誌コンテンツを楽しむことができます。読みやすく、素晴らしいビデオと高解像度の写真が付いています。

The Business NG - The BusinessNG

The Business NG - The BusinessNG

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