National Infinity Magazine

Manager, four others arrested over Premium Trust Bank’s cyberattack

A Federal High Court sitting in Lagos has remanded five individuals—including a bank manager and a nursing mother—over their alleged involvement in a cyberattack on the server of Premium Trust Bank. The defendants are Matthew Adeniyi Damilola, E-Payment Service Manager at the bank; Kehinde Odeyemi, a nursing mother with a four-month-old baby; Samson Latshin Dakup, Bolaji Omotosho Yinka, and Sunday Badeniyi Okunnola. Arraigned before Justice Alexander Owoeye, the five were charged by the Economic and Financial Crimes Commission (EFCC) on a six-count indictment bordering on conspiracy, cybercrime, and unauthorized access…

FG takes possession of 753-unit housing estate ‘recovered from Emefiele’

Editor

The Federal Ministry of Housing and Urban Development has confirmed receipt of 753 housing units in an Abuja estate formerly linked to ex-Central Bank Governor, Godwin Emefiele. The Economic and Financial Crimes Commission (EFCC) seized the estate, which was associated with the embattled former apex bank chief. On Tuesday, EFCC Chairman Mr. Olanipekun Olukoyede formally handed over the property to the Minister of Housing and Urban Development, Architect Ahmed Dangiwa, during a ceremony in Abuja. “It is important for us to demonstrate to Nigerians that whatever proceeds of crime that…

CBN retains 27.50% interest rate again

Editor

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 27.50 per cent, marking its second consecutive hold in 2025. This decision was announced by the CBN Governor, Olayemi Cardoso, during a press briefing on Tuesday in Abuja, following the conclusion of the MPC’s 300th meeting. This second pause in rates comes after six consecutive hikes recorded in 2024. Cardoso said, “The Committee was unanimous in its decision to hold policy and thus decided as follows: Retain the MPR at 27.50 per cent,”…

UTME Resit: JAMB to release results of 379,000 candidates Wednesday

Editor

The Joint Admissions and Matriculation Board has announced that it will on Wednesday release the results of 379,000 candidates who sat the rescheduled Unified Tertiary Matriculation Examination between Friday and Monday. JAMB rescheduled the exam following widespread outcry over mass failure during the initial UTME. The board admitted to technical and human errors, especially in Lagos and South-East states, which significantly affected candidates’ performance. Out of the 1.9 million candidates who sat this year’s UTME, over 1.5 million scored below 200 marks out of a possible 400, prompting widespread concern…

Olubadan, Soun kick against move to make Alaafin permanent chairman of Oyo state Council of Obas and Chiefs

Editor

Traditional leaders and stakeholders from Ibadanland and Ogbomosoland have strongly opposed a proposed legal amendment by the Oyo State House of Assembly seeking to make the Alaafin of Oyo the permanent chairman of the state’s Council of Obas and Chiefs. The opposition was contained in a joint statement issued on Monday in Ibadan and signed by Mogajis, Baales, monarchs, the Central Council of Ibadan Indigenes, the Ibadan Compounds Peace Initiative, prominent sons and daughters of Ibadanland, and Mogajis from the Soun Ruling Houses of Ogbomoso. The bill to amend the…

Relief for Nigerian farmers Fintech launches credit for stored crops as collateral

Editor

For decades, Nigerian farmers have remained central to the nation’s economy, sustaining food systems and rural livelihoods. Yet, despite their critical role, they remain largely excluded from the formal financial system due to a lack of traditional credit histories, collateral, or access to banking infrastructure. Now, a new partnership between Nigerian fintech company SeedFi and agritech platform Winich Farms is poised to change that. Together, they are introducing a pioneering initiative: produce-collateralised loans. This allows farmers to use their stored crops as collateral, bypassing the conventional demands of paperwork or…

Access Bank secures N160.2bn DFI loan to fund female entrepreneurs in Nigeria

Jasmin Ekua, Banking & Finance

Nigeria’s leading 3rd tier bank, Access Bank Plc has secured a $100 million senior loan facility from a consortium of global Development Finance Institutions (DFIs) led by Germany’s DEG. The consortium also includes FinDev Canada, ILX (Netherlands), and Austrian DFI OeEB, marking a strategic boost for Nigeria’s MSME sector and female-led enterprises. The facility will enable Access Bank to extend funding to privately-owned MSMEs, small corporates, and family-owned businesses across Nigeria. A key feature of the agreement is the allocation of at least 30% of the loan toward gender-lens investing,…