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BUSINESS
The Nigerian National Petroleum Company Limited (NNPCL) has discovered over 4,800 illegal connections on oil pipelines in the country in what is a grim picture of the country’s major income earner. “We have over 4,800 illegal connections on our pipelines. That means in some lines, within 100 kilometres...
Dangote Refinery hhas received its first one million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO) in a major step towards increasing Nigeria’s local refining capacity. In a Friday statement, the Dangote Refinery explained that the cargo sailed to the facility’s...
The National Pension Commission (PenCom) recovered N24.8 billion of funds unremitted by employers in the third quarter of 2023. Chief Executive Officer of Pension Funds Operators Association of Nigeria (PenOp), Mr Oguche Agudah, made the declaration on Friday in Lagos. He spoke at a media parley with...
The Nigeria Deposit Insurance Corporation (NDIC) says it is prepared to conduct 100 per cent liquidation dividend payments worth N16.18 billion for depositors of 20 failed banks. Already the corporation has asked depositors to come forward for verification and payment of their deposits that are in excess of...
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has called on African leaders to create quality jobs for their teeming unemployed youths, to stem the trend of brain drain bedevilling the continent. Adesina said in Abuja on Friday at the Second Veritas University Digital Innovations...
Oil giant Shell sees $6 billion in investment opportunities in Nigeria, especially in offshore, gas and liquefied natural gas (LNG) projects, the country’s presidency said in a statement on Friday. Nigeria, the continent’s top economy and major oil producer, is seeking to attract more foreign investment...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned Nigerians to beware of illegal Naira banknotes in circulation. The CBN’s Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, stated this in a statement issued in Abuja on Friday. She said: “The...
By OLA MUDOPE, Lagos – In line with its commitment to further deepen financial literacy and increase the participation of retail investors in the capital market, Nigerian Exchange Limited (NGX), in collaboration with Zenith Bank and supported by Africa Prudential, has taken its financial literacy initiative, X-Lit...
Trading activities on equity market of the Nigerian Exchange Ltd.(NGX) ended lower on Thursday, reversing some of the gains recorded Wednesday, due to sell-off in Tier-one bank shares. Specifically, the market capitalisation decreased by N192 billion or 0.49 per cent to close at N39. 103 trillion from N39.295...
The Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) are strengthening their existing collaboration to ensure economic growth. Registrar-General of the CAC, Mr Hussaini Magaji, said this on Thursday in Abuja when he visited the FIRS Executive Chairman, Mr Zacch Adedeji. Magaji said the visit...
The Central Bank of Nigeria (CBN) Governor, Mr Yemi Cardoso, has approved the reviewed “Service Charter’’ of the apex bank. The News Agency of Nigeria (NAN) reports that the service charter is a requirement of the Business Facilitation Act 2022 for driving the ease of doing business in...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed two major agreements to deliver Liquefied Natural Gas (LNG) to the domestic gas market and the international LNG market. Held on the sidelines of the UN Climate Change Conference (COP28), NNPC Ltd. signed a Memorandum of Understanding (MoU)...
The Chief Executive Officer of the Nigerian Exchange Ltd.(NGX), Mr Temi Popoola, on Wednesday, said that the transition to virtual trading, following the incursion of the COVID-19 pandemic, remained a game changer in the capital market. Popoola stated this while delivering an address at the induction for newly qualified...
National Chairman of Petroleum Tanker Drivers (PTD) Branch of NUPENG, Comrade Lucky Osesua and his Deputy, Comrade Dayyabu Yusuf Garga on behalf of their executives and members have again accused their parent body of coercing and luring members into signing an undertaking to pledge loyalty to an illegitimate faction...
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said the non-interest and equity financing are solutions to the current global debt crisis. Edun said this at the maiden Securities and Exchange Commission (SEC) and the Islamic Financial Service Board (IFSB) international...
For the fourth consecutive year, Star Alliance proudly announces its victory as the World’s Leading Airline Alliance at the esteemed World Travel Awards. The announcement took place at a Gala ceremony held at Dubai’s iconic Burj Al Arab on December 1, 2023. Earlier in the North America edition...
The Niger Delta Development Commission, NDDC, has expressed determination to embrace clean energy sources through practical approaches such as nature-based solutions and green innovations. Speaking during a side event at the Climate Change Conference, COP28 in Dubai, the NDDC Managing Director, Dr Samuel Ogbuku, said the Commission was leveraging on the key...
…Wabote Cautions Against Relapse In Local Content Drive The 12th Practical Nigerian Content Forum 2023 got underway on Tuesday at the Nigerian Content Towers, Yenagoa, with the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote announcing that the agency has completed 83 percent of...
The equity market on Nigerian Exchange Ltd. (NGX) on Tuesday closed on a positive note, making All-Share Index (ASI) and Market Capitalisation closed with a gain of N166 billion. The Market Capitalisation closed at N38.989 billion as against N38.823 billion posted during the previous trading, representing 0.43 per...