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NIPC Boss Urges Media To Promote Nigeria Positively

Investments: NIPC Boss Urges Media To Promote Nigeria Positively

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NIPC Boss Urges Media To Promote Nigeria Positively—-The Nigerian Investment Promotion Commission (NIPC), has urged the media to be good ambassadors and promote Nigeria positively to enable the country to attract more investments.

The NIPC Executive Secretary/Chief Executive Officer (CEO), Aisha Rimi, said this at a media “Meet and Greet” organised by the Commission on Friday in Abuja.

Rimi said Nigerians had a role to play in driving President Bola Tinubu’s Renewed Hope Agenda and ensuring the growth and development of the country, adding that the media was not left out.

“So it is essential that we make Nigeria work in whatever shape or forms we can. We are all stakeholders in this, and at every level, everybody has a role to play.

“There are countries where you never hear the press talking wrong about their country, no matter how the story goes, they spin it to their benefit.

“So let us try to do that. Let us be ambassadors. Let us promote Nigeria and promote the good things about Nigeria,” she said.

The CEO acknowledged that there might be instances where we get it wrong and things were not done as they should, but it was up to us to act as ambassadors.

Rimi said, “everybody is an ambassador of this country, and we must ensure that Nigeria is seen positively worldwide.

” Let us highlight the good stories; let us learn to support each other so that investors will be attracted to the country, and we will be able to grow the economy.”

While reiterating the mandate of the Commission, Rimi said NIPC was set up to facilitate and promote access to investors in the country and retain the ones already in existence.

She said,” if nobody traps these people and gives them the support they need, other countries are competing with Nigeria, so we must be very intentional.

” So our job is to bridge that gap between the private sector and government.

“To ensure that our investors, be they foreign or domestic, incoming or already here, that we ensure their experience and economic activities in Nigeria are fruitful and beneficial.

“This is because if they do well, we do well; we know the resultant effects, the multiplier effects that a successful investment will have on our economy, job creation, diversification of the economy, and all of that.”

According to her, the commission is realigning its focus and efforts to key into the new administration and Mr President’s eight-point agenda.

She thanked the media for the support the commission had enjoyed in the past and expressed optimism that such supportive cooperation would continue.

Rimi said,” as I settle down, I will continue to depend on your support to promote the commission’s activities.

“As we go into the next year (2024), by God’s grace, we will keep you abreast of the developments as they occur.

” Please look at us as an open agency. Our doors and ears are open; we will listen to constructive criticism and information, verify what we can, and provide you with what we can.

” But it is a partnership that we all exist in the same ecosystem, and so we must coexist harmoniously, cordially, and respectfully.”

The NIPC boss then pledged a stronger partnership with the media in the coming year while wishing everyone God’s continued blessings, guidance protection, good health, and all prosperity in 2024.

Also speaking, Mr Ifeanyi Onuba, the President of the Commerce and Industry Correspondent Association of Nigeria (CICAN), pledged the members’ commitment to showcase the commission in good light.

Onuba also called on the commission to carry every member of the association along in all its activities.

He said this would enable them to contribute their quota in disseminating the right news/information in a manner that would benefit NIPC and the country’s interest.

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UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments

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UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments—-Three of Nigeria’s largest financial institutions have reported combined fraud-related losses of approximately ₦2.13 billion in their latest audited financial statements, highlighting the growing threat of cybercrime and electronic banking fraud in the country’s financial sector.

The affected institutions include Access Holdings Plc, Guaranty Trust Holding Company Plc, and United Bank for Africa Plc.

According to details contained in the banks’ 2025 financial reports, fraud incidents linked to the three lenders totalled approximately ₦10.29 billion. However, through recoveries, transaction reversals, and security interventions, the banks were able to prevent or recover about ₦8.16 billion, leaving actual losses at approximately ₦2.13 billion.

Among the banks, Access Holdings recorded the highest direct loss to fraudsters, losing an estimated ₦1.24 billion within the financial year.

United Bank for Africa reported over 26,400 fraud-related incidents, with actual losses totalling approximately ₦621.57 million, while Guaranty Trust Holding Company recorded approximately ₦269.44 million in losses tied to fraudulent activities.

Industry analysts say the figures reflect the increasing sophistication of cybercriminals targeting Nigeria’s rapidly expanding digital banking ecosystem.

Most of the fraud cases were reportedly connected to electronic banking channels, including unauthorised transfers, mobile banking compromise, phishing schemes, identity theft, and other forms of digital payment fraud.

The development comes as Nigerian banks continue to accelerate the country’s transition toward a cashless economy through mobile banking platforms, internet banking services, agency banking networks, and digital payment systems.

Despite the losses, the financial institutions significantly increased investments in technology infrastructure and cybersecurity measures during the year under review.

Collectively, the banks reportedly spent over ₦280 billion on technology upgrades, fraud monitoring systems, customer authentication processes, and transaction security enhancements aimed at reducing cyber threats and protecting customer funds.

Meanwhile, the Central Bank of Nigeria has also intensified regulatory efforts to curb financial fraud across the banking industry.

The apex bank recently introduced stricter compliance measures requiring financial institutions to strengthen fraud detection systems, improve transaction monitoring, and respond more rapidly to suspicious activities and customer complaints.

Financial experts have warned that as digital banking adoption continues to rise across Nigeria, banks and customers alike must remain vigilant against increasingly advanced cybercrime tactics targeting the financial sector

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BREAKING: Dangote Refinery Hikes Petrol And Diesel Prices Amid Economic Strain

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BREAKING: Dangote Refinery Hikes Petrol And Diesel Prices Amid Economic Strain—-Dangote Petroleum Refinery has revised its ex-depot prices, increasing the gantry price of Premium Motor Spirit (PMS), or petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), commonly known as diesel, has been raised to ₦1,620 per litre.

The latest revision marks the fourth consecutive price review in less than two weeks amid global market volatility, according to a report by Petroleumprice.ng.

Quoting industry sources, the report noted that the new pricing template has been communicated to marketers, following earlier adjustments this month.

Under the revised structure, the ₦1,175 per litre petrol price reflects a significant jump from the previous ₦995 per litre, while diesel has surged sharply from its prior ₦1,430 per litre level, underlining the continued upward trend in domestic fuel pricing.

The development is likely to have a ripple effect across Nigeria’s downstream petroleum market, as depot operators and fuel marketers adjust supply costs in response to the revised prices announced by the country’s largest refining facility.

The refinery had yet to issue an official statement on the development as of the time of filing this report.

Oil prices soared 30 per cent today on fears about supplies from the Middle East, as the US-Israeli war against Iran continued into a second week with no sign of letting up.

Fears grew that the Middle East conflict could last for some time after US President Donald Trump said only the “unconditional surrender” of Iran would end the war.

He added at the weekend that the spike in prices was a “small price to pay” to eliminate Iran’s nuclear threat, reiterating the White House’s insistence that the rise is temporary.

Since the beginning of the war, WTI is up more than 75 per cent and Brent more than 60 per cent.

Attacks on oilfields were reported in southern Iraq and in the northern autonomous Kurdistan region, which forced a US-run oilfield to cease production, while the United Arab Emirates and Kuwait have started reducing output.

That came with maritime traffic in the Strait of Hormuz — through which a fifth of global crude and gas passes — halted since the war began on February 28.

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