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AG Mortgage Bank launches scheme for diaspora home ownership

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AG Mortgage Bank launches scheme for diaspora home ownership

AG Mortgage Bank Plc has introduced a new pathway to support home ownership for Nigerians living abroad through its Diaspora Home Ownership Scheme. The initiative is designed to make it easier for diasporans to acquire homes in Nigeria, offering them a structured process that supports long-term investment goals.

In a statement on Tuesday, the MD/CEO of AG Mortgage Bank Plc, Mr Ngozi Anyogu, highlighted the relevance of the programme by noting the large Nigerian presence abroad. He said, “Over 17 million Nigerians live abroad; these Nigerians, motivated by cultural ties and long-term investment goals, represent a significant part of the underserved market in the real estate space in Nigeria.”

Anyogu explained that the financial contribution of the diaspora remains huge and goes beyond remittances. According to him, “The Nigerian diaspora population significantly contributes to the Nigerian economy through its huge home remittances ($19.550 million, the highest in Africa in 2023). But beyond money remittances, what’s next? To help diasporians maximise return on their remittances on a sustainable basis, the bank has designed targeted products to meet these needs.”

He stated that the main goal is to support lower and middle-income families in owning affordable and livable homes in their preferred Nigerian cities, regardless of where they live abroad. He also noted that AG Mortgage Bank Plc was structured from inception as a faith-based institution to meet the needs of its diverse stakeholders, customers, communities, regulators, employees, and shareholders.

The bank, which is licensed by the Central Bank of Nigeria (CBN), began operations in January 2005 with Assemblies of God Nigeria as its core investor. Anyogu added that the AGMB Diaspora offerings form part of its ESG programme. He said the services were created to empower Nigerians abroad to invest in their home country, promoting development in local communities, supporting first-time buyers, and improving access to mortgages for underserved markets.

He emphasised the bank’s dedication to contributing positively to the national economy through Environmental, Social, and Governance initiatives. These include backing eco-friendly real estate projects, environmental sustainability efforts, and supporting community programmes in health, education, and financial inclusion.

AG Mortgage Bank Plc was incorporated in July 2004 and has grown to become one of Nigeria’s largest primary mortgage banks, with total assets rising to ₦22.1 billion and a 92 per cent increase in profit after tax in 2023 under its current leadership.

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CBN Announces New Cash Withdrawal Limits Starting January 2026

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CBN Announces New Cash Withdrawal Limits Starting January 2026

The Central Bank of Nigeria has announced new cash withdrawal rules that will take effect from January 1, 2026, ending the special permission that allowed individuals to withdraw N5 million and businesses N10 million once a month. This change was confirmed in a circular dated December 2, 2025, signed by the Director of the Financial Policy and Regulation Department, Ms Rita I. Sike.

According to the apex bank, the revised policy is aimed at cutting the cost of cash handling, improving security, and reducing money laundering linked to the economy’s heavy dependence on physical cash.

The bank explained that its cash-related policies have evolved over time in response to changing realities. It stated, “These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels. With the effluxion of time, the need has arisen to streamline the provisions of these policies to reflect present-day realities,” showing that the updated step is designed to modernise the financial system.

Under the new directive, individuals will now be allowed to withdraw a maximum of N500,000 weekly across all channels, while corporate bodies will be restricted to N5 million weekly. Any withdrawal beyond these limits will attract extra charges, with individuals paying 3 per cent in excess fees and corporate organisations paying 5 per cent. These fees will be shared between the central bank and financial institutions.

Daily Automated Teller Machine withdrawals will be capped at N100,000 per customer, with a total of N500,000 allowed weekly, meaning ATM transactions will count toward the overall weekly limit. The CBN confirmed that the special monthly authorisation for higher withdrawals has now been discontinued. Another update allows banks to load all denominations in ATMs while keeping the N100,000 over-the-counter cashing limit for third-party cheques. The bank noted that such payments will also be part of the weekly total limit.

Deposit Money Banks must now send monthly reports to the appropriate supervisory departments on all withdrawals above the designated limits, as well as cash deposits. They are also expected to create separate accounts to hold processing charges collected from extra withdrawals. However, the directive exempts revenue collection accounts of federal, state, and local governments. Accounts belonging to microfinance banks and primary mortgage banks operated with commercial and non-interest banks are also exempted.

On the other hand, exemptions earlier granted to diplomatic missions, embassies, and aid donor agencies have been withdrawn. The central bank said the circular overrides some earlier rules but remains in line with other existing directives listed in its appendices. This marks another measure by the bank to strengthen the Nigerian financial space following its October directive requiring all financial institutions to provide detailed monthly data on Point-of-Sale agent activities.

In that October circular signed by the Director of the Payments System Policy Department, Mr Musa Jimoh, it was ordered that banks must include full information on the nature, value, and number of transactions carried out by POS agents.

The directive also set a maximum daily limit of N1.2 million for POS agents, while individual customers are allowed transactions of up to N100,000 daily. The CBN said the limits were introduced to prevent misuse, improve transparency, and protect users within the agent banking system.

FIRS Opens 30 Day Window for 2020 Tax Clearance Certificate

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FIRS Opens 30 Day Window for 2020 Tax Clearance Certificate

The Federal Inland Revenue Service has opened a 30 day window for taxpayers to obtain their Tax Clearance Certificate. The development was announced in a statement signed by the Executive Chairman, Mr Muhammad Nami, and shared through the official Twitter page of the agency. According to him, the decision is meant to make the process easier for taxpayers and help them meet their obligations at a time they may urgently need a valid TCC.

In the statement titled Facilitating 2020 Tax Clearance Certificate (TCC) Issuance, the tax chief explained that the move follows legal provisions. He noted that the offer to simplify issuance falls under Section 101 (1) of CITA LFN 2004 and aligns with the Self Assessment Regulation of 2011. Mr Nami said the agency had listened to concerns from taxpayers who complained about the difficulty faced when trying to obtain a TCC.

He stated that taxpayers need TCC for several purposes including seeking government or private contracts, applying for loans, renewing licenses, registrations, agreements, or franchises. These activities, he stressed, often generate revenue from which taxes will be paid, and therefore granting easier access to TCC was necessary.

“Following the numerous complaints received from our esteemed taxpayers with respect to difficulties encountered before obtaining Tax Clearance Certificate and the fact that taxpayers need TCC to enable them to, inter alia, seek and obtain contracts and loans, renew permits, registrations, franchises, agreements and/or licenses that will invariably generate revenue from which taxes will be paid, management has looked into the above complaints and has taken steps to ease the process of obtaining TCC,” he explained.

The tax service said eligible taxpayers can obtain their 2020 certificate between January 2 and January 31, 2020. However, the agency warned that the law will still be enforced against defaulters.

Mr Nami stated that FIRS will “not hesitate to use enforcement activities including imposition of lien on bank accounts of such defaulting companies to recover any outstanding debts when it discovers that the taxpayer has misled the service in her duty to observe tax compliance.”

He encouraged taxpayers to make use of the offer immediately, saying issuance of TCC under this arrangement reflects existing law. “Taxpayers are, therefore, encouraged to take advantage of this initiative and apply for their 2020 TCC, as soon as possible,” the statement added.

US launches Nigeria skit contest on American innovation impact

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US launches Nigeria skit contest on American innovation impact

The U.S. Mission Nigeria has launched the “Made in America, Loved in Nigeria Social Media Skit Contest,” a national campaign aimed at showing how American products, brands, and ideas benefit Nigerian communities. Running from December 1st to December 8th, 2025, the contest invites young Nigerians to create short digital skits that highlight how U.S. innovations improve daily life, inspire creativity, and support progress. The Mission stated that the initiative is designed to showcase “the positive impact of American products, brands, and ideas on communities across Nigeria.”

Participants are required to produce original 90 second vertical skits showing the influence of American tools, services, or culture in business, education, technology, creativity, or community development. Entries must be posted publicly on YouTube, Facebook, or Instagram, and tagged @USinNigeria. Contestants are encouraged to share their video across their own social platforms using the hashtags “#MadeInAmericaLovedInNigeria” and “#TradeThatTransforms.”

The contest is open to Nigerian citizens aged 18 to 45 who reside in Nigeria. Participants must submit only original ideas and are expected to fill an official entry form and upload a signed eligibility and release form. According to the guidelines, submissions will be pre screened for compliance with contest rules and judged based on creativity, relevance to the theme, storytelling, technical quality, and audience engagement. Winners will be revealed on December 12, 2025, on the U.S. Mission Nigeria social media accounts.

Top creators will win media production tools including Sony A7 IV creative bundle, Sony A7 III, and an iPhone 16 with Handheld Gimbal. Winners will also receive mentorship and exposure through U.S. Mission Nigeria social media features. The Mission noted that the contest supports Nigeria’s vibrant creative sector and “celebrates the innovative spirit of Nigerian youth” while strengthening cultural and economic ties between both nations.

For full submission instructions and required forms, participants are directed to visit madeinamericalovedinnigeria.com.

FG launches nationwide training for livestock extension officers

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FG launches nationwide training for livestock extension officers

The Federal Ministry of Livestock Development has begun a three day national capacity building programme in Abuja to upgrade the technical skills of livestock extension officers from all 36 States and the Federal Capital Territory. The programme, which opened on Monday, December 1, 2025, aims to improve advisory services and boost productivity across Nigeria’s livestock sector.

Officials said the workshop is designed to standardise extension messaging nationwide and deepen the application of good animal husbandry practices at the farm level. Speaking at the opening, Chinyere Ijeoma Akujobi, Permanent Secretary in the Ministry, represented by Joseph Ako, Director in the Livestock Extension and Business Development Department, told participants that the Ministry is focused on building a modern and commercially viable livestock industry that supports food security and economic diversification.

She noted that livestock extension officers remain central to the transformation agenda because they connect research innovations to farmers and influence the implementation of national livestock policies across communities. Ako encouraged participants to take full advantage of the training, stressing that their improved competence will directly impact farmers nationwide.

The programme supports the National Livestock Growth Acceleration Strategy which places extension delivery at the heart of efforts to modernise production systems, strengthen animal welfare practices and increase national output. Participants will receive training in good animal husbandry practices, animal welfare, feed management, disease control, biosecurity, waste management, the one health approach, breeding and reproduction, record keeping, humane handling and extension communication methods.

Officials say the initiative is expected to raise professional standards and enhance productivity in the sector as Nigeria pushes for economic diversification through livestock development.

Tinubu Forecasts 25.7m Air Passengers and $2.58bn Revenue by 2029

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Tinubu Forecasts 25.7m Air Passengers and $2.58bn Revenue by 2029

President Bola Tinubu has projected strong growth in Nigeria’s aviation sector, stating that passenger numbers could rise from 15.89 million in 2023 to 25.7 million by 2029, while yearly revenue is expected to hit $2.58 billion. He made this forecast on Tuesday at the Nigerian International Airshow, where the Secretary to the Government of the Federation, George Akume, represented him.

Tinubu said major investments are ongoing to modernise the nation’s airports. Six major airports and multiple runways are undergoing upgrades, including a N712 billion refurbishment of Murtala Muhammed Airport in Lagos. He also revealed that Nigeria plans to begin manufacturing aircraft components locally as part of a wider push to position the country as the aviation hub for West and Central Africa. Speaking at the event, he described the Airshow as “a historic event that places Nigeria firmly on the global aviation map.”

The President highlighted the sector’s positive trajectory, noting that Nigeria now ranks first in Africa for compliance with international aviation standards. He said this followed an improvement in the nation’s Cape Town Convention score from 49.5 per cent to 75.5 per cent, a development that gives airlines easier access to low-cost aircraft financing and raises investor confidence.

Tinubu further disclosed that the country has secured partnerships with Boeing and Cranfield University to set up advanced Maintenance, Repair and Overhaul facilities. “This is expected to curb the current $200 million annual capital flight spent on overseas aircraft maintenance. Aero Contractors and XEJet are leading this transformation with new hubs in Lagos and Abuja,” he said.

He pointed to gains in international connectivity, such as the resumption of Air Peace’s Lagos-London service, new Bilateral Air Services Agreements and the return of Emirates and Uganda Airlines to Nigeria. He added that aviation now contributes 2.5 per cent to Nigeria’s Gross Domestic Product.

Reaffirming his government’s commitment to making Nigeria the region’s leading aviation centre, Tinubu said the strategy would rely on public-private partnerships, expanded training facilities, airport concessions and local production of aircraft parts. “We are building a sustainable ecosystem that creates jobs, drives innovation and strengthens our economy,” he stated.

In his foreword for the Airshow’s inaugural magazine, Minister of Aviation and Aerospace Development Festus Keyamo described the event as both “historic” and a bold step toward placing Nigeria on the global aviation exhibition calendar. According to him, “This is our first attempt. It will not be perfect. We are taking baby steps, but we take them with courage, conviction and clarity of purpose.” He said he believes the Nigeria International Airshow would eventually stand “shoulder to shoulder with Paris, Dubai, Farnborough and Singapore.”

OGSTEP at 5 Years: Over 51,000 Residents Empowered

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OGSTEP at 5 Years: Over 51,000 Residents Empowered

The Ogun State Government, through the Ogun State Economic Transformation Project OGSTEP, on Monday held its 8th Implementation Support Mission, marking a major milestone in its economic development efforts. According to officials, more than 51,000 residents have been empowered since 2019 through programmes in agriculture, education, gender inclusion and other areas. The event also signalled the end of the five year World Bank supported project.

The mission, which took place at Park Inn by Radisson in Abeokuta, showcased achievements, including the issuance of more than 15,000 Certificates of Occupancy, assistance to 33,075 farmers, and the training of over 39,000 individuals through capacity building initiatives. Speaking at the event, Mr Dapo Okubadejo, Chairman of the Project Steering Committee, said that OGSTEP has driven transformation that strengthens institutions, enhances human capital, expands economic opportunities, and positions Ogun as a hub for sustainable growth in Nigeria.

He explained that OGSTEP directly supported 33,075 farmers statewide, including 27,547 crop farmers, 4,256 aquaculture farmers and 1,272 poultry farmers. The project also supported the mechanisation of 9.014 hectares, delivery of 90,431 litres of agrochemicals, and distribution of 17,945 bags of fertiliser. Under aquaculture, farmers received 195,436 bags of nutritious fish feed, while poultry farmers got 77,703 bags of poultry feed and rehabilitated poultry pens. According to him, “to date, agribusiness firms have offtaken 283,582 tons of agricultural produce under the project.”

Okubadejo praised Governor Prince Dapo Abiodun for his support and guidance, noting that the governor’s leadership helped OGSTEP deliver meaningful results across multiple sectors. He stated, “Today marks an important milestone not just for the project, but for the development trajectory of Ogun State. As we reflect on the achievements of OGSTEP, key outcomes under the project’s pillars show clear improvement.” Under the Business Enabling Environment pillar, OGSTEP facilitated over 15,000 Certificates of Occupancy to strengthen property rights and improve investor confidence. Seven zonal e planning and Land Administration Centres are being rehabilitated to modernise land processes, while a Geographic Information System and Remote Sensing platform is being deployed to make land title processing more transparent and efficient.

He added that OGSTEP empowered more than 39,000 people, including 1,400 STEM teachers, 100 Quality Assurance Officers, 120 technical instructors, 4,000 vocational trainees, 120 ministry staff, thousands of farmers, youths and women, and 60 artisans. He disclosed that eight technical colleges were rehabilitated and upgraded, laboratories for 22 flagship schools and four Education Resource Centres were fully equipped, bringing the total number of completed institutions to 34. He stressed that these achievements reflect the dedication of the Project Technical Committee, the Coordinator, the Sector Implementation Units and the entire team whose commitment ensured the success of OGSTEP.

Also speaking, the Ogun State Coordinator of OGSTEP, Mrs Mosunmola Owodusi, said the final support mission marked the end of the World Bank funded project. She noted that the review process was held to take stock of what has been achieved, what remains pending, and how to stay on track toward expected results. Owodusi urged beneficiaries to make good use of the opportunities provided, explaining that Ogun State Government, with World Bank backing, invested heavily in infrastructure, human capital and tools for citizens. She stated, “My call to the people is that we should use it well, let’s multiply, let’s take ownership so that in another five years, anyone who comes will be able to see these things that have been making the economy of Ogun State better and the location has been used well.”

Meanwhile, the Chairman of the Project Technical Committee, Hon. Olaolu Olabimtan, commended Governor Abiodun and described his leadership as the foundation of OGSTEP’s progress. He said that during the implementation period, Ogun witnessed efforts to enhance service delivery, strengthen institutions, expand economic opportunities, and build systems that support inclusive development.

DBN warns Nigeria risks growth loss without support for women-led MSMEs

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DBN warns Nigeria risks growth loss without support for women-led MSMEs

Nigeria’s economy may lose a major source of growth if women-led micro, small and medium enterprises do not receive the financing and market backing needed to expand, the Development Bank of Nigeria has warned. The bank issued the caution while showcasing promising female founders at the Women Investment Readiness Accelerator Demo Day held in Ilupeju, Lagos.

The event, supported by Agence Française de Développement and Sterling One Foundation, highlighted women-owned businesses as crucial to national productivity. Organisers noted that although women own nearly 60 per cent of Nigeria’s SMEs, they continue to face low access to capital, mentorship and structured markets. Participants stressed that addressing these barriers is key to unlocking economic progress.

According to the organisers, the Demo Day signalled the completion of an intensive accelerator programme funded by DBN. The training equipped female entrepreneurs with mentorship, business development knowledge and practical tools across sectors such as agriculture, food processing, waste management, retail, technology and fashion. Many participants said the experience was their closest opportunity yet to scale their businesses with credible backing.

The gathering also featured a pitch showcase where selected founders presented refined and scalable business models to investors, financial institutions and business support groups. For many attendees, the session provided their first direct access to funding prospects, partnerships and expansion discussions. Organisers said these opportunities were made possible through DBN’s continued investment in strengthening the MSME space.

Speaking at the event, DBN Managing Director and Chief Executive Officer, Dr Tony Okpanachi, said the presentations proved why women entrepreneurs must stay at the centre of economic planning. He stated that what was witnessed confirmed that investing in women yields measurable economic and social impact. He stressed that their businesses are innovative, resilient and capable of scaling. Okpanachi added that DBN will continue supporting women-led enterprises with financing, knowledge, networks and market linkages that promote long-term growth.

Chief Executive Officer of Sterling One Foundation, Olapeju Ibekwe, praised the showcased women as innovators addressing real market needs. She said potential alone is not enough and that support, connections and capital are critical. Explaining WIRA’s mission, Ibekwe said, “Through WIRA, our goal has been to close the financing and opportunity gap by providing more than training; we provided guidance, confidence, and access. Today’s pitches are proof of what happens when women are empowered to take up space and lead boldly.”

Investor partners who attended described the showcased ventures as viable and ready for investment. Several founders were said to be moving forward into follow-up funding and advisory engagements, raising hopes that more women-led MSMEs will enter the growth stage with institutional support.

Cowbellpedia Registration Deadline Set for February 3

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Cowbellpedia Registration Deadline Set for February 3

Public and private secondary schools across Nigeria have been reminded that Sunday, February 3, 2019, is the deadline to register their students for this year’s Cowbellpedia Senior Secondary Mathematics Television Quiz Show. The reminder came from the Marketing Manager of Promasidor Nigeria Limited, Mr Abiodun Ayodeji, who emphasized that registration is strictly online through the website www.cowbellpedia.ng and is free of charge.

Ayodeji urged students not to miss the opportunity to be part of the competition. He explained that each school is allowed to present five candidates between 10 and 18 years old for both the junior and senior categories. According to him, the registration process requires the candidate or school to visit the website, click on the link titled Register your school, fill the form, and submit.

He went on to detail the next steps. “The link in the email received would be used to verify the email address and, on successful login, click on Add Candidates under Candidate Management, fill in the candidate’s information, upload the candidate’s picture and click the Save Draft button. Save the draft information for five (5) candidates for each category before you submit their registration,” he explained.

Ayodeji also disclosed that once data entry had been completed for all candidates, the Register button should be clicked to finish the process. He added that “a confirmation slip will be generated to download and will also be mailed to the school, candidate or parent/guardian’s email address. Print the confirmation slip and have it stamped and signed by the school principal. The confirmation slip will be required for admitting candidates at the examination venue.”

All confirmed candidates will take part in the Stage 1 Qualifying Written Examination at their designated centres nationwide on Saturday, February 9, 2019. The competition continues a tradition that has lasted 21 years, during which Cowbell Milk, the flagship brand of Promasidor Nigeria Limited, has shown strong commitment to Mathematics development through various initiatives.

The brand also sponsors the Cowbellpedia Radio Programme, a five-minute interactive Mathematics broadcast on major radio stations across Nigeria. In addition, the Cowbellpedia Mathematics Mobile App is available on Google Play Store and Apple Store, allowing students to practice and sharpen their knowledge of Mathematics.

FG launches N1m diaspora startup challenge, flagship event for 2025

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FG launches N1m diaspora startup challenge, flagship event for 2025

The federal government through the Nigerians in Diaspora Commission has launched two major initiatives aimed at mobilising global Nigerian talent and strengthening diaspora involvement in national development. In a statement signed by Abdur-Rahman Balogun, Director of Media, Public Relations and Protocols, the Commission described the Connected Diaspora x DOWA Start Up Challenge and the upcoming Connected Diaspora Flagship Event 2025 as timely, transformative and strategically positioned to harness the creativity, expertise and entrepreneurial drive of Nigerians across the world.

The Connected Diaspora x DOWA Start Up Challenge carries the theme “Building, Breaking and Believing in Nigeria” and is designed to inspire diaspora innovators while promoting knowledge transfer, enterprise development and strategic investment. According to NiDCOM, the initiative reflects efforts to support Nigeria’s fast growing economy by providing a platform that energises young minds beyond the country’s borders.

With cash prizes of up to ₦1,000,000, the challenge targets exceptional ideas and impactful ventures developed by Nigerians abroad. The Commission noted that this action reinforces the Federal Government’s broader commitment to recognising the diaspora as a crucial partner in national progress and economic transformation.

In the same development, NiDCOM announced that the Connected Diaspora Flagship Event will be held on December 19, 2025 in Lagos. The gathering will convene entrepreneurs, policymakers, investors, tech leaders and strategic partners for high level conversations centered on Nigeria’s future. The Deputy Governor of Lagos State, Dr Kadiri Obafemi Hamzat, is scheduled to attend as Special Guest of Honour and will speak on the importance of government and diaspora collaboration in accelerating development.

A keynote address will be delivered by Mr Leonard Stanley Ekeh, Chairman of Zinox Group, whose experience and business growth continue to inspire young innovators. Other contributors drawn from the diaspora community and the local entrepreneurship ecosystem will take part in discussions aimed at shaping meaningful engagement and future pathways.

NiDCOM expressed deep appreciation to its partners, stating that their “support remains invaluable” in advancing the initiative. The Commission added that the commitment of these partners continues to enhance diaspora potential and contribute to economic advancement. It urged stakeholders in both the public and private sectors to join the effort and seize opportunities for collaboration, innovation and nation building.

The agency encouraged young Nigerians and diaspora returnees to take part in the Connected Diaspora x DOWA Start Up Challenge, reminding the public that entries close on December 7, 2025. It further revealed that the December event will host a Diaspora Talent Career and Internship Fair to connect returnees with internship opportunities provided by DOWA partner organisations, thereby strengthening talent exchange and promoting national development.

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