ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited (MPN) to Seplat Energy, a Nigeria-owned independent oil and gas company. Liam Mallon, President, ExxonMobil Upstream Oil and Gas, made this known in a statement on Friday in Irving, Texas, USA. “The sale supports...
BUSINESS
The widening difference between the black market and official rates has worsened the forex fraud, as banks publish more names of Nigerians attempting to cheat the system in an attempt to make more money. As of Wednesday, 23 February 2022, the dollar exchanged for N416 at the official market...
Company Income Tax (CIT) recorded N124.71 billion decline from N472.52 billion in quarter three, 2021 to N347.81 billion in quarter four, the National Bureau of Statistics (NBS), said. The Bureau said this in its “Company Income Tax (CIT) Quarter Four, 2021” data obtained from its website on Thursday. It...
Africa richest man, Aliko Dangote’s net worth has risen by $934 million since the first trading day of the current calendar year, making him the 83rd richest person globally. According to Bloomberg, the African billionaire businessman’s total fortune is now worth $20 billion, letting him overtake Russian businessman and...
SystemSpecs, Africa’s software and financial technology giant, is commemorating its 30th anniversary and has expanded its operations through the establishment of two subsidiaries – SystemSpecs Technology Services Limited (STSL) and Remita Payment Services Limited (RPSL). The organisation also announced the appointment of former Executive Vice Chairman of Nigerian Communications Commission...
Nigerian Exchange Limited (“NGX”) on Tuesday inducted a total of 117 Authorised Dealing Clerks from 63 Trading License Holder, charging them to uphold the highest level of ethics and responsibility. Speaking at the ceremony, the Chief Executive Officer, NGX, Mr. Temi Popoola, CFA stated, “On behalf of the Board...
A ride-hailing company, Bolt, says it has partnered an auto-care firm, Fixit45, to provide drivers with improved access to cost-effective auto-care and repair financing to ease drivers’ burden. Femi Akin-Laguda, the Country Manager, Bolt, said this in a statement on Tuesday in Lagos. Akin-Laguda said the aim was to...
Some experts on Tuesday said the Central Bank of Nigeria (CBN) must take proactive steps to make its RT200 FX programme achieve the desired results. The experts made the suggestions in separate interviews with the News Agency of Nigeria (NAN) in Lagos. Akpan Ekpo, a professor of Economics and...
By JOY ADARA, Abuja – The Nigerian Communications Commission (NCC) is irrevocably committed to the implementation of various regulatory initiatives and programmes, in collaboration with all stakeholders in the telecom ecosystem, towards bridging identified gaps and shortages in critical telecom infrastructure in the country. The Executive Vice Chairman and...
…As Danbatta pledges to sustain participation and support for the Conference The Nigerian Communications Commission (NCC) has reiterated its faith in the vision of the AfricaNEXT Conference (AfricaNXT) to “co-create a prosperous future for all Africans” through collaborations, conversations and programming that are oriented in harvesting, harnessing and leveraging...
The Federal Government on Monday gave six months deadline to the Nigerian Communications Commission (NCC) to come up with innovative solutions in Information Communications Technology (ICT). Prof. Isa Pantami gave the deadline at a maiden Telecommunications Based Research and Prototype Exposition in Abuja. The News Agency of Nigeria (NAN)...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX) has restated its commitment to support the Debt Management Office (DMO) to deepening the capital market. The CEO, NGX, Mr. Temi Popoola, CFA disclosed this at a strategic meeting with market stakeholders organised by the DMO in Lagos last week. ...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX) on Friday hosted the leadership of Capital Market Solicitors Association (CMSA) to a closing gong ceremony which is part of the association’s activities to commemorate 20years of impact in the Nigerian capital market. In his opening remarks, Chief Executive Officer,...
The Nigerian National Petroleum Company (NNPC) Limited started its week with an assurance to Nigerians that the distribution of Premium Motor Spirit (PMS) would soon normalise after it recalled the bad product imported into the country last week. The NNPC Group Executive Director (GED) Downstream, Adetunji Adeyemi, gave the...
By TOM CHIAHEMEN, Lagos – It has been revealed that prior to the adoption of local content by the Obasanjo Administration, the Nigerian Oil and Gas industry was characterized by massive capital flights of over $380 Billion and an estimated two million job losses over a 50-year period. Also,...
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has stated that it would use the instrumentality of the Finance Act 2021, through collaboration with taxpayers and key stakeholders to ensure adequate funding of the country’s budget and raise the requisite financing for national development. This was...
Global trade reached a record high in 2021, but it is expected to slow in 2022 for many reasons including continuing delays in global supply chains, UN economists said on Thursday. Announcing that worldwide commerce amounted to around 28.5 trillion dollars in 2021, the UN Conference on Trade and...
The Central Bank of Nigeria on Thursday kicked against plans by the Senate to enact a new anti-money laundering law. The apex bank put forward this position during a public hearing by a Senate Joint Committee – anti-corruption, financial crimes, judiciary and human rights – on three different anti-corruption...
Says 5G will revolutionize the fourth industrial revolution…. By CALLISTUS OFFOR, Abuja – The Minister of Communication and Digital Economy, Professor Isa Pantami on Thursday said the introduction of the National Policy on 5G networks would revolutionize the fourth industrial revolution in the country and the entire globe. Prof....
Taopheek Babayeju, a Nigerian entrepreneur and CEO of iCentra has been accepted into the Forbes Business Council, the foremost growth and networking organization for successful business owners and leaders worldwide. Babayeju was vetted and selected by a review committee based on the depth and diversity of his experience. Criteria...