• Heritage Bank emerged from the ashes of Société Générale Bank Nigeria (SGBN), which lost its license in 2006.
• The bank rebranded and re-entered the market in 2012, later acquiring Enterprise Bank in 2014 to expand its reach.
• Despite its growth, financial instability and poor loan performance plagued its operations.
• By 2021, it recorded a staggering 81.2% non-performing loan (NPL) ratio.
• Regulatory pressures mounted, leading to the revocation of its banking license in June 2024.

• Bank PHB was among the banks flagged in the 2009 CBN/NDIC audit for capital inadequacy and governance failures.
• Despite regulatory interventions, it failed to recapitalise by the September 30, 2011 deadline, leading to its license revocation.
• The CBN and Nigeria Deposit Insurance Corporation (NDIC) established Keystone Bank as a bridge bank to take over Bank PHB’s assets and liabilities.
• The Asset Management Corporation of Nigeria (AMCON) managed Keystone Bank until 2017, when it was sold to private investors.
• The bank later divested from its international subsidiaries, focusing on the domestic market.
• In 2024, the CBN dissolved its board, signalling ongoing financial and governance concerns.

Key takeaways:

• The top 11 nations accounted for 73% of the total asylum seekers in 2024, with each nation contributing more than 100,000 asylum seekers.
• Venezuela (620,074) ranks first as the source country with the most asylum seekers in 2024.
• Latin American countries dominate the top 11 list, with eight out of the eleven countries originating from the region.
• Asian countries (China and India) make up a smaller share of the leading asylum-seeking populations.
• Venezuela is the sole country of origin with an asylum seeker count exceeding 600,000 in 2024.

Key takeaways:

• The increase has been continuous and exponential, with no year experiencing a decline since 2012.
• The pace of growth has intensified in recent years, particularly during the last four years (2020-2024), which witnessed especially sharp increases.
• The most significant one-year increase in absolute figures took place between 2022 and 2023, adding over 800,000 new asylum applicants.
• The figure for 2024, standing at 3.18 million, is three times more than what was recorded in 2020.

• Web payment amassed a total transaction value of ₦825.5 trillion, showcasing its dominance in both frequency and financial significance.
• With a Constant Annual Growth Rate of 150.4% (in volume) and 208.9% (in value), Web Pay has been leading the Nigerian Payment System in both transaction volume and value since 2020.
• Mobile payments contribute 15.8% of transaction volume and 10.9% of transaction value, indicating growing adoption among tech-savvy users.
• NEFT transactions represent 21.5% of the total transaction value, reflecting their importance for transferring large sums.
• The dominance of web payments reflects Nigeria's ongoing transition to a cashless economy and widespread digital adoption.

• Web payment is the leading payment system in Nigeria, handling over half (52.7%) of transaction volume and 56.6% of transaction value in the first half of 2024.
• With a Constant Annual Growth Rate of 150.4% (in volume) and 208.9% (in value), Web Pay has been leading the Nigerian Payment System in both transaction volume and value since 2020.
• Point-of-sale (POS) terminals account for 29% of transaction volume, proving their continued relevance for in-person transactions.
• Mobile payments contribute 15.8% of transaction volume and 10.9% of transaction value, indicating growing adoption among tech-savvy users.
• The dominance of web payments reflects Nigeria's ongoing transition to a cashless economy and widespread digital adoption.
• With 3.49 billion transactions, mobile payments are gaining traction for low-value, high-frequency activities like bills and purchases.

Key takeaways:  

• Most countries can only target 50-70% of their populations in need.
• Sudan has the greatest humanitarian requirements, with 30.44 million people affected, and it is projected that only 69% will receive help, leaving 10 million individuals unsupported.
• Myanmar exhibits the largest gap, with over 19.9 million people in need and only 5.5 million targeted for assistance.
• The situation in Ukraine leaves nearly 7 million individuals without adequate assistance while targeting approximately 6 million individuals.

Key takeaways:

• The industry sector accounted for the smallest portion of global employment in 2022.
• Around 50 percent of the worldwide workforce is involved in the service sector.
• On a global scale, the disparity between the agriculture and industry sectors is slight.
• The sector with the largest share of employment globally is the service sector.

• Number porting in Nigeria has dropped significantly, with only 55k customers switching networks in 2024, continuing a multi-year decline.
• MTN gained the most new customers in 2024, outperforming other networks in porting gains.
• 9mobile, once the dominant choice for ported customers, has lost its appeal, with far fewer subscribers switching to the network in recent years.
• Overall porting activity has slowed, suggesting improved customer retention or fewer incentives to switch providers.

• 4G smartphones are the most popular globally.
• Sub-Saharan Africa has the smallest 4G smartphone adoption, with a 33% market share in the region.
• Sub-Saharan Africa has the lowest 5G market share of any region.
• 5G smartphones are dominant in North America, the highest of any region.
• Smartphone market share is reflective of income levels across regions.

Key takeaways:

• Sudan is the highest recipient of UN humanitarian aid among African nations in need of humanitarian support and the only North African country receiving such assistance.
• Nigeria is among the top nine African nations that will each receive humanitarian aid worth more than $700 million.
• Zambia and Malawi will receive humanitarian support of less than $100 million each.
• Six countries among the African countries facing humanitarian crises are to receive UN support worth more than $1 billion each.