Following the court order that the shares of Keystone Bank Limited previously held by the shareholders be forfeited to the Federal Government of Nigeria, the Central Bank of Nigeria (CBN) has reassured the public that the Bank remains safe, sound, and fully operational. A statement by Hakama Sidi Ali (Mrs.), …
Read More »EU hails Made-in-Abia leather craftsmanship
The European Union (EU) has commended the craftsmanship of Made-in-Abia leather products, reinforcing the state’s reputation as Nigeria’s leading hub for leather production. The Head of Cooperation of the Delegation of the European Union to Nigeria and ECOWAS, Mr. Massimo De Luca, made this known during a one-day working visit …
Read More »Shell, Bayelsa Govt. unite to protect forest reserve biodiversity
By Nathan Nwakamma Yenagoa, Feb.13, 2025 The Shell Petroleum Development Company of Nigeria Limited (SPDC Joint Venture) and the Bayelsa government say they are joining forces to conserve biodiversity of Taylor Creek Forest Reserve in Yenagoa Local Government Area of Bayelsa. In a statement Mrs Gladys Afam-Anadu, Shell’s Media Relations …
Read More »Afreximbank’s Medical Centre of Excellence unveils construction milestones as June 2025 launch approaches
ABUJA, Nigeria, February 12, 2025 The African Medical Centre of Excellence (AMCE), a groundbreaking tertiary medical institution spearheaded by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in partnership with King’s College Hospital, London, hosted a high-level stakeholder and media tour to showcase major construction milestones and reaffirm its commitment to revolutionising …
Read More »Chevron Nigeria Limited reiterates commitment to socio-economic development of Delta State
Lagos. Nigeria February 11, 2025. Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Company Limited and CNL- NNPCL/CNL JV- has reiterated its commitment to the socio-economic development of communities neighbouring the areas of their operations and building mutually beneficial partnerships with the government and …
Read More »Robust policies will boost Nigeria’s deepwater output – Shell
By Yunus Yusuf Lagos, Feb. 11, 2025 Shell Nigeria Exploration and Production Company Ltd. (SNEPCo) says the country can achieve its oil and gas production targets and drive development programmes by focusing on its deepwater resources. The company said that the country could achieve this by maintaining policies that encourage …
Read More »Dangote Refinery reduces diesel price by N55 to N1,020 per Litre
Dangote Petroleum Refinery & Petrochemicals has reduced the cost of its diesel product to N1,020 per litre, down from N1,075 per litre at the gantry price, in an effort to better serve its customers and Nigerians in general. Since it began diesel production in January 2024, the refinery has reduced …
Read More »Dangote Peugeot begins 3008 GT assembly in Kaduna, unveils Landmark pickup
The official manufacturer and marketer of the Peugeot brand of vehicles in Nigeria, Dangote Peugeot Automobiles Nigeria Limited (DPAN), has taken another bold step towards regaining its leadership position in the auto market. This time, DPAN has commenced the assembly of the GT model of the wave-making Peugeot 3008, which …
Read More »Air Peace promotes Senior First Officer to Captain on Boeing 777 Fleet
Lagos, Nigeria Sunday February 9, 2025 Air Peace, Nigeria’s foremost airline and West Africa’s largest carrier, has announced the elevation of Senior First Officer Chibuzo Mbanefo to the rank of Captain on its Boeing 777 fleet. A statement by the Airline said that Captain Mbanefo has consistently demonstrated exceptional skill, …
Read More »Abia Govt. to revive Aba Mega Mall to boost shoe, garment production
By Ihechinyere Chigemeri-Uwom The Abia Government has expressed its readiness to revive the Aba Mega Mall which was commissioned in May 2015 but then abandoned. The project has faced several setbacks in the past. The recent resurgence of efforts to completely revitalize the mall is the outcome of a meeting …
Read More »NPA reviews tariffs upward by 15%, after 32 years
By Aisha Cole Lagos, Feb. 6, 2025 The Nigeria Ports Authority (NPA) says it is reviewing its charges upward by 15 per cent, citing a need for competitiveness and infrastructural upgrades. The Managing Director of the NPA, Dr Abubakar Dantsoho, made this known during a maritime stakeholders’ meeting held in …
Read More »Afreximbank challenges Africa’s miners to take bold steps to own the continent’s resources
CAPE TOWN, South Africa, February 5, 2025 Africa must take bold steps to own its resources, create jobs and build industries that sustain prosperity for generations, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has told African leaders, policymakers, mining industry leaders and global partners at the African Mining Indaba 2025 in Cape …
Read More »Afreximbank challenges Africa’s miners to take bold steps to own the continent’s resources
CAPE TOWN, South Africa, February 5, 2025 Africa must take bold steps to own its resources, create jobs and build industries that sustain prosperity for generations, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has told African leaders, policymakers, mining industry leaders and global partners at the African Mining Indaba 2025 in Cape …
Read More »CBN introduces new FX sales to BDCs
By Grace Alegba Lagos, Feb. 5, 2025 The Central Bank of Nigeria (CBN) has issued new guidelines restricting Bureau de Change (BDC) operators to purchasing foreign exchange from a single authorised dealer per week. The bank also directed the BDCs to comply with Know Your Customer (KYC) measures. The apex …
Read More »CBN extends FX sale period to BDCs
By Grace Alegba Lagos, Feb. 3, 2025 The Central Bank of Nigeria (CBN) has extended the Foreign Exchange (FX) sale period to Bureau de Change (BDC) operators until May 30. This aims to better serve retail market demands. The bank disclosed this in a circular, signed by Dr W. J. …
Read More »SHIN visits NCDMB, gets assurances of support for oil industry projects
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe on Friday received a delegation from the Samsung Heavy Industries Nigeria (SHIN), led by their new Managing Director, Mr. Jin Lee. The meeting was held at the Board’s Lagos liaison office and discussions focused …
Read More »NCDMB ES, SPDC officials visit Brightwaters Energy, laud firm’s capabilities for industry projects
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, in company with senior officials of Shell Petroleum Development Company (SPDC) last Tuesday undertook a tour of facilities at Brightwaters Energy Limited, Port Harcourt, Rivers State. The tour to the company’s facilities at Choba, …
Read More »Access Bank appoints Uche Orji as Non-Executive Director
Mr. Uche Orji By Grace Alegba Lagos, Feb. 1, 2025 Access Holdings Plc has announced the appointment of Mr. Uche Orji, as an Independent Non-Executive Director of its subsidiary, Access Bank Plc. A statement on Saturday night by the bank says the appointment took effect from Jan. 7, following the …
Read More »U.S. President Trump to hit Canada, Mexico with 25% tariffs today, Saturday
Washington, Feb. 1, 2025 The United States is set to introduce tariffs of 25 per cent on goods from Mexico and China today, Saturday. White House Press Secretary Karoline Leavitt confirmed on Friday that the duties and a 10 per cent tariff on Chinese products will take effect. Leavitt said …
Read More »CBN approves listing of CFA on NXP forms for export repatriation proceed
By Vivian Emoni Abuja, Jan. 31, 2025 The Nigeria Export Promotion Council (NEPC) says that Central Bank of Nigeria (CBN) has approved CFA Franc to be captured on Nigeria Export Proceed (NXP) forms for the repatriation of export proceeds. Mrs. Nonye Ayeni, Executive Director of the NEPC, disclosed this while …
Read More »No better time than now for 24-hr port operations – Ministers, others
….It will help realisation of $1 trillion economy by 2031, says FIRS chairman There can be no better time than now for the take-off of the National Single Window initiative aimed at eliminating bureaucratic delays in export and import processes to boost trade efficiency and enhance economic growth. This was …
Read More »Market capitalisation gains N347bn as FCMB lists 19.803bn shares
By Rukayat Adeyemi Lagos, Jan. 30, 2025 The Nigerian stock market maintained its upward momentum on Thursday, driven by the listing of 19.803 billion ordinary shares of FCMB Plc at 50k per share. This contributed an additional N347 billion gains to the market capitalisation at the close of the session. …
Read More »Illegal mining: Ex-NYSC DG bombs Oshiomhole; Says ‘Stop destroying our reputation’
…Demands retraction of allegation A retired military officer, and former Director General of the National Youth Service Corps (NYSC), Major-General Johnson Olawumi (Rtd), has issued a strong disapproval of comments credited to Senator Adams Oshiomhole, that retired military generals are behind illegal mining activities in Nigeria. Oshiomhole had alleged that, …
Read More »Inclusion: Fintech startups must think outside the box – PalmPay Executive
By Funmilola Gboteku Lagos, Jan. 27, 2025 Financial technology (Fintech) is shifting into high gear in 2025, with the industry poised for unprecedented growth and transformation. Emerging technologies like Artificial Intelligence (AI), quantum computing, and Central Bank Digital Currencies (CBDCs) are set to revolutionise the sector, redefining back-office operations, security, …
Read More »Don’t invest in Risevest, Stecs cooperative societies, SEC warns
By Rukayat Adeyemi Jan. 26, 2025 Securities and Exchange Commission (SEC) has warned the public against engaging in any investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Ltd. and Stecs (Alausa) Multipurpose Cooperative Society. The commission, in a circular issued on Sunday, said that neither of the entities was …
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