Business
S’East Senators Express Displeasure Over Exclusion Of Zone From N22.7bn Loan

South East Senate Caucus led by former Deputy Senate President, Ike Ekweremadu, have expressed their grievances over the exclusion of the zone from the N22.7 billion loan approved for the Federal Government by the senate.
They decried the exclusion of the South East Region from the first loan obtained from China for the railway estimated at $2 billion.
According to Sun, they lamented that the zone was also excluded from the over $5 billion loan for the Eastern Railway Corridor, which runs from Port Harcourt to Maiduguri and from the South South through North Central to the North East.
READ ALSO: Minister Calls For Harnessing Of Potentials In Animal Production To Boost Socio-economic Status
The South East senators also met with the Speaker Gbajabiamila, to register their complaints on the exclusion of the zone from these federal projects.
President Muhammadu Buhari and the Speaker House of Representatives, Femi Gbajabiamila have met so far to resolve to resolve the issue and other crisis in the party.
READ ALSO: Just In: Appeal Court Orders Stay Of Execution Of Order Suspending Oshiomhole
(SUN)
(PHOTO: File)
Business
CBN Sets POS Maximum Transactions In Fresh Guidelines

The Central Bank of Nigeria has rolled out fresh guidelines for agent banking, known as Point of Sales, across the country.
The apex also in the guidelines pegged daily POS transactions at N1.2 million per agent and N100,000 per individual.
CBN disclosed this in a circular signed by its Director of the Payments System Management Department, Musa Jimoh.
The guidelines further mandate all financial institutions to publish the list of all their POS agents on their website and to display it in their branches.
READ ALSO:CBN Establishes New Unit To Tackle Financial Crime
CBN noted that the guidelines would take effect from April 1, 2026.
“The Guidelines aim to establish minimum standards for operating agent banking in Nigeria, enhancing agent banking to provide financial services and promoting financial inclusion, encouraging responsible market conduct and improving service quality in agent banking operations.
“This circular takes effect from the date of release, while the implementation of agent location and agent exclusivity shall be in effect from April 1, 2026.
“POS agents are restricted to a maximum of N1.2 million per day. Individual customers are limited to N100,000 in daily transactions.
“These limits are intended to curb misuse, enhance financial integrity, and protect consumers within the agent banking framework,” it stated.
Business
Naira Records First Appreciation Against US Dollar At Official Market

The Naira recorded appreciation on Wednesday against the United States dollar at the official market, the first time in three days this week.
The Central Bank of Nigeria’s exchange rate data showed that the Naira strengthened to N 1,470.62 per dollar on Wednesday, up from N1,471.09 traded on Tuesday.
This means that the country’s currency firmed up slightly by N0.47 against the dollar on a day-to-day basis.
READ ALSO:Naira Appreciates Massively Against US Dollar In The Black Market, Highest In 15 Months
Monday and Tuesday, the Naira recorded negative sentiment at the official foreign exchange market.
However, at the black market, the Naira remained unchanged at N1,500 per dollar on Wednesday, the same rate exchanged on Tuesday.
The apex bank data indicated that the country’s external reserves, a determinant of the exchange rates, stood at $42.57 billion as of October 7, 2025.
Business
SEC Warns Nigerians Of AfriQuantumX Ponzi scheme

Nigeria’s Securities and Exchange Commission (SEC) has named AfriQuatum, with a claimed worth of N76 billion, as a Ponzi scheme.
The regulator also urged the public to be cautious about investing with the firm.
SEC disclosed this in a recent statement.
According to the SEC, any person who places an investment or engages with the entity does so at his or her own risk, adding that its operations exhibit characteristics commonly associated with fraudulent Ponzi schemes.
READ ALSO:SEC Warns Nigerians Over AI-generated Investment Scams
“The attention of the Securities and Exchange Commission has been drawn to the activities of AfriQuantumX, which holds itself out as an investment platform trading on and selling cryptocurrency and stocks to investors in Nigeria.
“The Commission hereby informs the public that AfriQuantumX is not registered by the Commission either to solicit investments from the public or operate in any capacity within the Nigerian capital market,” SEC stated.
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