Business and Economy

By Itohan Abara-Laserian Lagos, July 31, 2021 FBN Holdings Plc has posted a profit before tax (PBT) of N45.2 billion in its unaudited financial results for the half year (H1) ended June 30. The company’s Group Managing Director, Mr Mr Urum Kalu Eke, disclosed in a statement made available to …

  By Simon Akoje Lagos, July 30, 2021 Financial experts say the Central Bank of Nigeria (CBN) ban of foreign exchange sales to Bureau De Change (BDC) operators will check round-tripping. They said this in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Friday, while reacting …

By Chiazo Ogbolu Lagos, July 29, 2021 The Nigerian Ports Authority (NPA) says 24 ships are presently discharging different items at the Lagos ports. The items according to NPA are bulk wheat, general cargo, container, bulk salt, base oil, soya, soda ash, petrol and butane gas. Others are automobile gasoline …

By Kadiri Abdulrahman Abuja, July 29, 2021 The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to set up teller points in designated branches for the sale of Foreign Exchange (forex) to Nigerians. The News Agency of Nigeria (NAN) reports that the directive was sequel to CBN’s …

By Kadiri Abdulrahman Abuja, July 27, 2021 The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country. Mr Godwin Emefiele, the CBN Governor, made this announcement on Tuesday, while presenting a communique from the …

Konga, Nigeria’s leading composite e-Commerce giant, has been named the most innovative company of the year. The award was presented to the management of Konga at the 2021 Titans of Tech Hall of Fame Awards held on Friday, July 23, 2021 at the Oriental Hotel, Lekki, Lagos. The latest award …

By Chinyere Joel-Nwokeoma Lagos, July 22, 2021 Fidelity Bank Plc on Thursday splashed N39 million on 15 customers in the final draw of its Get Alert In Millions (GAIM) Season 4 savings promo. The News Agency of Nigeria (NAN) reports that the cash prizes were in the categories of N10 …

By Nathan Nwakamma Yenagoa, May 4, 2020 The Shell Petroleum Development Company (SPDC) said on Monday that the dead fishes floating on the Niger Delta coastline had nothing to do with its operations. Residents along the Atlantic coastline in Delta, Bayelsa, Rivers and Akwa Ibom have reported massive death of …

  Besides its promise of revitalising the travel and tourism industry in Nigeria and, eventually, other parts of Africa, AURA By Transcorp Hotels, the new digital hospitality platform of Transcorp Hotels Plc, is also set to grow a new generation of entrepreneurs. The new platform was recently launched by Vice …

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By Jessica Dogo Abuja, July 18, 2021 The Nigerian Communications Commission (NCC), says it is yet to renew Airtel’s Mobile Operating License. Dr Ikechukwu Adinde, NCC’s Director of Public Affairs, made this known in a statement on Sunday, in Abuja. According to him, the attention of the NCC was drawn …

The management of Dangote Sugar Refinery has denied the rumored deaths of staff during a protest at its Numan, Adamawa plant by some youths of its Gyawana host community. A statement from the management, signed by the Managing Director, Mr. Ravindra Singhvi said neither was there a protest by its …

By Itohan Abara-Laserian Lagos, July 14, 2021 Zenith Bank Plc has been named ”Best Commercial Bank in Nigeria” at the World Finance Banking Awards 2021, as published in the July edition of the World Finance Magazine. The Group Managing Director/Chief Executive of Zenith Bank Plc, Mr Ebenezer Onyeagwu announced the …

William Attah, Gombe Mohammed Jibrin Danbarde, an All Progressives Congress (APC) stalwart in Gombe State who recently dumped the party for the Peoples Democratic Party (PDP) has faulted the award of best State in ease of doing business conferred on Muhammad Inuwa Yahaya. Danbarde, who came second during APC’s Governorship …

…As Dangote Fertiliser takes delivery of 500 trucks for Urea distribution To address challenges related to the ease of distribution and availability of cement across the country, especially among its value-chain service providers, Dangote Cement Plc has rolled out over 2,000 trucks for distribution services. With an investment of $150 …

  By Chinyere Joel-Nwokeoma Lagos, July 10, 2021 Fidelity Bank Plc. has unveiled a seven-point agenda aimed at making it to Tier-One in Nigeria and getting ahead of competition. The agenda unveiled by the bank’s Chief Executive Officer/ Managing Director, Mrs Nneka Onyeali-Ikpe,  was made available to the News Agency …

Chevron Nigeria Limited, (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL, (NNPC/CNL JV), on Wednesday July 7, 2021, received an award for the best exhibition booth at the 2021 edition of the Nigeria Oil and Gas (NOG) Conference and Exhibitions. The award was …

Chairman and Managing Director, Chevron Nigeria Limited (CNL), Mr. Rick Kennedy, has identified low carbon emissions, gas development, effective industry policies, collaboration for cost reduction, and digital technology/innovation as strategic imperatives for fortifying the Nigerian oil and gas industry for economic stability and growth. Rick gave this indication on Wednesday, …

The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to ensuring effective stewardship of the nation’s hydrocarbon resources to guarantee energy security and drive wealth creation in Nigeria. The Group Managing Director of NNPC, Mallam Mele Kyari, made this assertion while delivering the keynote address at the 2021 Nigeria …

By Lydia Ngwakwe Lagos, July 5, 2021 The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the bank will increase its development finance interventions to further support start-ups and Small and Medium Enterprises (SMEs) in the country. Emefiele made the pledge while delivering the 51st Convocation Lecture of …

 By Dennis Udoma, Uyo From today, Monday July 5, 2021 Ibom Air, has commenced daily flight operations to Port-Harcourt, the Garden City of Rivers State from Lagos and Abuja, giving the Rivers State bound passengers a huge relief. The launch of the Port-Harcourt flights from Lagos and Abuja according to …

By Dennis Udoma, Uyo The Paramount ruler of Ibeno Local Government of Akwa Ibom, HRM (Owong) Effiong Bassey Archianga has set up a 15 Man – Committee to oversee the N82. 9 Billion windfall granted them, following the oil spill suit against Mobil Producing Nigeria Unlimited, which the court ruled …

The Nigerian National Petroleum Corporation (NNPC) and its partners in the Oil Mining Lease (OML 130) Production Sharing Agreements (PSA) and Production Sharing Contract (PSC) are set to earn over $760m from fresh Gas Supply Purchase Agreements (GSPAs) and Gas Entitlement Agreement (GEA) executed Thursday at the NNPC Towers. The …

By Ismaila Chafe Abuja, July 2, 2021 President Muhammadu Buhari will inaugurate the construction of Kano-Kaduna rail project in the next weeks, the Minister of Transportation, Chief Rotimi Amaechi disclosed on Friday in Abuja. The Minister, who was speaking at the weekly Presidential Media briefing organised by the State House …

By Edith Ike-Eboh Abuja, July 1, 2021 The Minister of State for Petroleum Resources, Chief Timipre Sylva, says  the Federal Government decision to acquire 20 per cent equity stake in all private refineries is to guarantee energy security and stability in the country. Sylva disclosed this when he received an …