Adverse Effects Of High Interest Rate Spreads On The Nigerian Economy

 

By Mustafa Chike Obi & Adetilewa Adeba

 

Introduction

The interest rate spread is the difference between the interest rates charged on loans and the interest rates paid on deposits. This has been an area of concern since the Nigerian banking liberalisation regime.

CP LANRE OGUNLOWO ENGAGES OGUN NUJ ON FAMILIARIZATION VISIT, EMPHASIZES IMPROVED SYNERGY

…Stresses the Importance of a Symbiotic Relationship Between the Police and the Press.

Since assuming office, Commissioner of Police (CP) Lanre Ogunlowo, PhD, has recorded a series of successful security breakthroughs in Ogun State. In continuation of his proactive leadership, he paid a familiarization visit on January 30, 2025, to the Nigeria Union of Journalists (NUJ) Secretariat in Abeokuta, popularly known as Iwe Iroyin, the cradle of journalism in Ogun State.

Darkness Looms As Vandals Blow Off TCN Tower

Transmission Company of Nigeria (TCN) on Thursday said its tower T195 along the Ugwuaji–Makurdi 330 kV transmission line was vandalised on Saturday.

*21 Days of Appreciation: Primate Ayodele Visits AIG Zone 2, Lagos CP, Police Stations*

 

The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has visited the Assistant inspector general of police Zone 2, Adegoke Fayoade, the Lagos state commissioner of police, Ishola Olanrewaju, and several police stations in commemoration of his annual thanksgiving programs.

*How Primate Ayodele Foretold Max Air Incident, Suspension In Prophecy Book*

Max Air, a Nigerian airline, suffered an unfortunate incident that would have led to a nationwide disaster.

Distribution Of HIV Drugs In Poor Countries Halted As Trump Freezes Foreign Aid

Distribution of HIV drugs in foreign countries by the US has been halted after President Donald Trump ordered a freeze on foreign aid.

The NPA Lagos International Polo Tournament Returns With GTCO As Headline Sponsor

Guaranty Trust Holding Company Plc (GTCO) is proud to be the headline sponsor of the 2025 NPA Lagos International Polo Tournament. The highly-anticipated Polo Series will be held at the prestigious Lagos Polo Club, Ikoyi, from 4th to 23rd February 2025.

UBA Foundation Emerges Philanthropy Of The Year…

I

UBA Foundation, the Corporate Social Responsibility arm of the United Bank for Africa (UBA) Plc, has been named “Philanthropy of the Year” at the prestigious THISDAY Awards 2025.

Top 5 Most Stylish Players in the Premier League Right Now Premier League Style Kings: Meet the 5 Best-Dressed Players in Football

The Premier League is famous not only for its intense competition and exceptional talent but also for its players who make bold fashion statements on and off the pitch. Some Premier League stars take their style game as seriously as their football, whether it's their pre-game outfits or red-carpet appearances. Here’s a look at the top five most stylish players in the league right now.

Fidelity Bank Chairman, Chike-Obi Honoured With Lifetime Achievement Award

 

For his exceptional leadership and contributions to banking and finance, the Board Chairman of Fidelity Bank Plc, Mr Mustafa Chike-Obi, has been presented the Lifetime Achievement Award at the Thisday Awards.

*Primate Ayodele Begins Annual Thanksgiving With Awards, Visit To Church Members’ Houses*

 

Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has kicked off his annual thanksgiving with awards and visitation to church members in their various houses.

Dominion City Empowers Members For Next Level Exponential Growth; Proposes N1Billion Entrepreneur Support Fund

Dominion City Church is increasingly engaging in initiatives to equip members for exponential growth and foster sustainable socio-economic advancement, as it has budgeted N1billion to empower entrepreneurs in the country.

Union Bank Rewards 360 Customers With N21 Million In First Save And Win Palli Promo 4 Draw

 

Nigeria’s leading financial institution, has kicked off its Save and Win Palli Promo 4 campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws.

Sterling One Foundation’s Education Interventions Propel Progress Amid Global Focus On AI, Learning

 

With the transformative role of technology in education more critical now than ever, this year’s theme for the International Day of Education, “AI and Education: Preserving Human Agency in a World of Automation,” highlights the need for inclusive and technology-driven education systems. According to UNICEF, Nigeria’s education system continues to face significant challenges, with the number of out-of-school children rising to 18.3 million. This alarming figure underscores the urgent need for targeted interventions to bridge systemic gaps and improve access to quality education.

Lagos Assembly: Return To Your Basic Duties Or resign – Fouad Oki Tells Obasa

A Chieftain of All Progressives Congress, APC, in Lagos State, Fouad Oki, has urged the impeached speaker of the Lagos House of Assembly Mudashiru Obasa to go back to the house and continue his basic responsibility to his constituency.

2027: I Have No Interest In Any Coalition Excluding Well-being Of Nigerians – Obi

Presidential candidate of the Labour Party in the 2023 elections, Peter Obi, has said he has no interest in any coalition with the aim of grabbing power without talking about the well-being of Nigerians.

ZENITH BANK SECURES REGULATORY APPROVAL FOR N350B HYBRID OFFER PROCEEDS

 

Zenith Bank Plc has raised a total of N350.4 billion through its recently concluded hybrid Rights Issue and Public Offer.

Design Week Lagos: Ecobank And Ministry Of ACTCE To Launch “2025 Design And Innovation Exhibition” Week Lagos: Ecobank And Ministry Of ACTCE To Launch “2025 Design And Innovation Exhibition”

Design Week Lagos is partnering with Ecobank Nigeria and the Ministry of Arts, Culture, Tourism, and Creative Economy to present Nigeria’s inaugural Design and Innovation Exhibition 2025.

*Oyo Gov't To Clamp Down On Street Trading*

 

Oyo State government has announced its readiness to clamp down on the traders selling by the road sides and  that serious steps were being taken to address street trading and other vices in the state. 

Zenith Bank Reinforces Commitment To Staff Wellbeing Through Pay Rise, Promotions

 

One of Africa’s leading financial institutions, Zenith Bank has reaffirmed its dedication to employee welfare by announcing the promotion of over 4,000 staff members and implementing salary increases ranging from 20% to 30% across various employee grades.

FIRSTBANK’S FIRSTGEM: REDEFINING WOMEN’S EMPOWERMENT IN NIGERIA

 

By Tosin Ajayi

The story of women’s contribution to Nigeria’s economy is as old as the nation itself. It is no secret that women are the largest untapped source of national wealth worldwide.

Sterling Bank Petitions IGP Over Court Ruling Violations, Abuse Of National Assembly

Lagos, Nigeria — Nigeria’s leading commercial bank, Sterling Bank Limited, has petitioned the Inspector General of Police (IGP) to address alleged fraudulent activities linked to Miden Systems Ltd and its director, Dr. Brendan Innocent Usoro. The action followed a series of purported attempts by Usoro to leverage political connections and law enforcement to undermine a court-mandated debt settlement.

*Oyo RAAMP Signs N16bn Contract For Construction Of 68km Road Project*

From left, Perm. Sec, Oyo State Ministry of Agriculture and Rural Development, Mrs Abosede Owoeye; Commissioner for Agric, Barr Olasunkanmi Olaleye; Business Director CGC Nigeria Limited (South West), Shao Jingwu and Oyo State Project Coordinator RAAMP, Engr Adeola Ekundayo, during the signing of Phase 1 Contract Agreement of 68km Interventions comprising of Backlog Maintenance/Rehabilitation and Cross Drainage Structure, held at Ministry of Agriculture, Secretariat, Ibadan.

UBA TO HOST KNOWLEDGE SERIES WEBINAR ON NEW TAX REGIME FOR SME’s

 

Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host a Knowledge Series webinar specifically dedicated towards informing and educating Small and Medium business owners on the 2024 withholding Tax Regulations recently implemented by the federal government.

How Police Rescued Retired AIG Odumosu’s Wife From Abductors

Mrs Folashade Odumosu, wife of the retired Assistant Inspector General (AIG), Hakeem Odumosu, amid jubilation, has been reunited with her family after she was rescued from the den of kidnappers by the police.

*President Donald Trump’s Second Term From The Prophetic Lens Of Primate Ayodele*

 

By John Olujimi

President Donald Trump was sworn in for his historic second term administration on Monday, 20th of January, 2025 amidst loud cheers, and congratulatory messages from countries that are already allies with the pragmatic politicians and those that wish to partner with his new administration.

WEMA BANK ANNOUNCES FINAL TRANCHE OF CAPITAL RAISE EXERCISE

…Set to raise additional N200 billion in combination of Rights & Special Placement to complete CBN recapitalization requirement

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced that it will be completing its capital raise through a combination of a Rights issue and Special placement exercise set to go live on April 1, 2025, with the goal of raising N200 billion in fresh capital. This would mark the second and final tranche of the Bank’s capital raise exercise, supplementing the N40 billion raised in the first tranche, and ensuring the Bank surpasses the CBN minimum requirement for national banking authorization.

Doctors Declare Three-day Strike In Abuja, Shut Hospitals

 

Daily Post Niger

Association of Resident Doctors, Federal Capital Territory Administration, ARD FCTA, has commenced a three-day warning strike over unpaid salaries, allowances, and other demands.

UI Students Protest 82-Day Power Outage In UCH [PHOTOS]

Hundreds of students from the University of Ibadan in Oyo State have staged a peaceful protest against the 82-day power outage at the University College Hospital, UCH, Ibadan.

Americans React As Trump Chooses Not To Place Hands On Bible During Oath-Taking

U.S. President Donald Trump took his oath of office on Monday, Jan. 20, with his right hand raised, but without placing his left hand on the two Bibles that his wife Melania held as she stood by his side. 

Just 24 Hours In: Was Primate Ayodele Wrong About Donald Trump?

 

By Bolaji Israel

Many were taken aback on Friday, December 20, 2024, when Primate Elijah Ayodele, a prominent cleric and leader of the INRI Evangelical Ministry in Lagos State, issued a stark warning that another term for Donald Trump as President of the United States would lead to increased chaos, disunity, violence, and various global crises.

US President Trump Signs Executive Order To End Birthright Citizenship

New US President Donald Trump signed an executive order Monday night vowing to end birthright citizenship in the U.S., despite a broad legal consensus that the Constitution guarantees American citizenship to everyone born on U.S. soil.

Trump Sworn In As 47Th U.S. President

 

Donald Trump has been sworn-in as the 47th President of the United States, marking his return to the White House for a second stint.

50% Telecom Tariff Hike: POS Operators To Hike Charges

Association of Mobile Money & Bank Agents in Nigeria has said its members may have no option but to increase service charges.

*Primate Ayodele Prophecies On Pope, Ex-First Lady, Others Fulfilled*

Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele’s marks on the prophetic ministry in Africa are indelible; he has attained so much height that whatever he says never misses.

Melania Trump’s Cryptocurrency Valued At £1,400,000,000 Within Minutes Of Launching

Incoming first lady Melania Trump launched her own cryptocurrency on the eve of her husband’s inauguration, making billions in a matter of minutes. 

Diddy ”Named” In Tupac Shakur’s Murder Case

Sean Combs aka Diddy has been reportedly named 47 times in a newly revealed police interview transcript, accusing him of offering “millions” for the m3rders of Tupac Shakur and De.ath Row Records boss Suge Knight

Snoop Dogg, Mike Tyson, Rod Wave, Others To Attend Trump’s Presidential Inauguration

Donald Trump has invited a significant number of celebrities to his inauguration as the 47th President of the United States.

Fidelity Bank Strengthens Leadership with New Board Appointments

17 Jan. 2025, Lagos, Nigeria – In a strategic move to sustain its impressive performance, leading financial institution Fidelity Bank Plc has announced significant changes to its Board of Directors, effective January 14, 2025.

TAX REFORMS: GOVERNORS BACK TINUBU, REJECT VAT INCREASE

 

State governors under the aegis of Nigeria Governors’ Forum (NGF) Thursday announced their rejection of the proposed increase of the Value Added Tax (VAT) but expressed support for the Tax Reform Bills currently at the National Assembly.

*How Primate Ayodele Foretold Death of Lagos GAC Member Three Days Ago*

The governor’s advisory council (GAC) in Lagos state have been thrown into mourning following the death of Pa Akinsanya Sunny Ajose, a high ranking member of the body.

Senator Solomon Adeola To Commission 23 Developmental Projects Across Ado-Odo/Ota Local Government

Ado-Odo/Ota Local Government in Ogun State is set to witness a historic moment as Senator Solomon Olamilekan Adeola, FCA, embarks on a two-day commissioning spree of transformative projects aimed at accelerating development across the region. The projects, spanning critical infrastructure, healthcare, education, and commerce, reveals the senator’s commitment to uplifting the lives of the people.

Obasa’s Impeachment As Lagos Speaker Fulfills Primate Ayodele’s 2025 Prophecies

Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele in his 2025 prophecies that were released on Friday, 20th of December 2024 touched several areas which included the legislative arms of states across Nigeria.

LIRS Sets January 31 Deadline For Annual Tax Returns Filing By Employers

Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers in Lagos State to fulfill their statutory obligation to file annual tax returns for the 2024 financial year on or before January 31, 2025.