CBN LIMITS CARD ISSUING, MERCHANT ACQUIRING MARKET SHARE FOR FINANCIAL INSTITUTIONS. (PHOTO).

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 CBN limits card issuing, merchant acquiring market share for financial institutions The Central Bank of Nigeria (CBN) has introduced new measures aimed at curbing market concentration in the country’s payments ecosystem, including limits on the market share operators can hold across card issuing and merchant acquiring services. Card issuing refers to the provision of payment cards to customers, while merchant acquiring involves processing card payments on behalf of businesses. In a circular signed by Rakiya Yusuf, director of the payments system supervision department, on Monday, the apex bank said the measures are aimed at addressing concerns over market concentration, operational dependence, systemic importance and the localisation of payment transaction data. The CBN said rapid growth in electronic payments and digital financial services has increased the market presence of some operators, raising concerns about competition and resilience in the sector. “Accordingly, the CBN he...

EBONYI GOVT PROCURES FOUR NEW AIRCRAFT, SET TO LAUNCH AIRLINE. (PHOTO).


 Ebonyi Government procures four new aircraft, set to launch airline


The Ebonyi State Government has procured three new aircraft as part of its plan to launch Ebonyi Air, a proposed airline in Ebonyi State, Nigeria’s South-east.


Governor Francis Nwifuru disclosed this on Wednesday while delivering his 2026 New Year address to the people of the state.


Mr Nwifuru said the aircraft were acquired under the Ebonyi Air initiative and are expected to arrive in January 2026.


The governor explained that the decision to procure the aircraft was a strategic economic move aimed at opening up the state to investment, tourism, and increased business opportunities, rather than a quest for prestige.


“Reliable air transport makes it easier for investors to do business, for professionals to move in and out of the state, and for our people to connect with other parts of the country and beyond,” he said.


Mr Nwifuru stressed that the proposed Ebonyi Air will reduce travel time and costs, encourage private sector participation, and position the state as a competitive destination for economic activities.


The move, he added, will support job creation and strengthen the state government’s engagement with the wider national economy.


The governor noted that the aircraft procurement aligns with his administration’s People’s Charter of Needs Agenda, which prioritises infrastructure development, economic empowerment, and inclusive growth across all local government areas of the State.


He assured residents that the project would be managed prudently to ensure value for money, maintaining that improved connectivity was critical to attracting investors and accelerating development.


Mr Nwifuru expressed optimism that the arrival of the three aircraft would mark a new phase in the state’s economic expansion and reinforce its commitment to sustainable growth and development in 2026 and beyond.


He expressed gratitude to residents of Ebonyi State for their resilience amid economic challenges in 2025, noting that the relative peace and unity enjoyed by the state remained one of its strongest assets.


The Ebonyi governor commended farmers, traders, workers, youths, and community leaders for sustaining social and economic stability despite economic hardships.


Mr Nwifuru said his administration recorded some achievements in 2025 in Ebonyi State, which he said included demerging of the education sector to improve efficiency, expanding scholarship opportunities, launching of model schools, and stability in tertiary institutions.

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