Business and Economy

Managing Director of NLNG Limited, Dr Philip Mshelbila has said that the 38km road from Bodo to Bonny Island, currently being constructed by the company in collaboration with the Federal Government will be completed by the first quarter of next year with a plan to connect it to the East/West road. …

By Okeoghene Akubuike Abuja, June 20, 2023 Aliko Dangote, Chairman and Chief Executive Officer of Dangote Group has won the Afreximbank Founder of the Year Award at the Pan-African Business and Development Awards. A statement issued by Brandcomms Agency in Abuja on Tuesday said the inaugural award ceremony was held …

By Alex Enebeli Enugu, June 19, 2023 The Federal Government and Enugu State government say they will partner to complete and operationalise the international wing of the Akanu Ibiam International Airport, Enugu. The duo said they would also partner to build a cargo terminal to boost the state’s and nation’s …

By Sunday Bassey Eket (Akwa Ibom), June 19, 2023 ExxonMobil has announced Mr. Shane Harris as new Chairman and Managing Director in Nigeria. Mr. Ogechukwu Udeagha, the Manager, Media and Communications of ExxonMobil, announced this in a statement made available to newsmen in Eket on Monday. He said that Harris …

Accra, 18 June 2023: The African Export-Import Bank (Afreximbank) Sunday in Accra, Ghana, launched its wholly owned insurance management services subsidiary, AFREXInsure, with a commitment to provide a single-entry point for all specialty insurance needs to assist in optimally managing related risks for the trade and commerce sector in Africa. …

Following the Central Bank of Nigeria (CBN)’s press statement of June 14, 2023, on new guidelines in the foreign exchange market, an extraordinary Bankers’ Committee meeting was held on Friday, June 16, 2023, to discuss its implementation and implications for the banking public. These policy changes aim to promote transparency, …

Konga, Nigeria’s leading composite e-commerce giant, has extended till Friday June 30, 2023, the special offers made available to shoppers during the recent exclusive one-day sale of Samsung products, including discounted prices, free delivery and installation as well as free installation kits for Samsung Consumer Electronics. The development is a …

By Sumaila Ogbaje Abuja The Nigerian Army and Navy have reacted to allegations by ex-Niger Delta militant leader, Asari Dokubo, that some cabals in the military are involved in oil theft in the region. Dokubo made the claims when he visited President Bola Tinubu in Abuja on Friday. The Director, …

By Emmanuella Anokam Abuja, June 14, 2023 The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed recent allegation by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that ExxonMobil was lifting butane illegally at Bonny River Offshore Terminal (BRT). The NMDPRA had in letters to the Ministry of Petroleum …

Lagos: June 14, 2023 The Nigerian Content Development and Monitoring Board, NCDMB, has accepted to lead discussion at the 2023 National Conference on Building Local Content Synergy between the Insurance Industry and Oil and Gas Sector. Executive Secretary of the Board, Simbi Kesiye Wabote, who has confirmed NCDMB’s participation has …

·      Collaboration key to sustenance of security – Jamoh The Chief of Naval Staff (CNS), Vice Admiral Awwal Zubairu Gambo, CFR has approved the appointment of Rear Admiral PE Effah as the new Co-Chair of the Gulf of Guinea Maritime Collaboration Forum Shared Awareness and De-Confliction (GoG-MCF SHADE), replacing Rear …

There have been a series of fake news reports ongoing that President Bola Tinubu has suspended the GCEO (Group Chief Executive Officer) of Nigeria National Petroleum Company Limited, Mal Mele Kyari. Some mischievous elements went as far as quoting the Daily Trust Newspaper as their source. Thanks to the credible …

Konga, Nigeria’s leading composite giant has partnered with Samsung, a multinational manufacturing conglomerate to offer shoppers free delivery and installation as well as free installation kits when they purchase any of the Samsung Consumer Electronics products on Konga. This exciting offer is part of activities for the month-long Konga Mid-year …

The African Export-Import Bank (Afreximbank) has provided Egypt-based CIAF Leasing with a US$44-million aircraft financing facility for the acquisition of three Embraer E-190 aircraft to strengthen the company’s leasing operations. With Afreximbank as senior debt provider and the Brazilian National Development Bank (BNDES) providing an export credit funding line, the transaction …

  Ghanaian President Nana Addo Dankwa Akufo-Addo and other leading African and Caribbean figures will be among the top headliners at the 30th Annual Meetings of the African Export-Import Bank (Afreximbank) taking place in Accra from 18 to 21 June 2023. According to a provisional programme released in Cairo, headquarters of …

Suspended Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, is believed to have been arrested by operatives of the Department of State Services, DSS. This followed his suspension from office by President Bola Tinubu on Friday, June 9, 2023. Mr. Folashodun Adebisi Shonubi was appointed acting Governor of …

In a momentous occasion, the Debt Management Office (DMO) of Nigeria has been honored with three prestigious international awards at the EMEA Finance Achievement Awards 2022 for its unwavering commitment to implementing effective debt management strategies in the Emerging Markets region encompassing Europe, the Middle East, and Africa (EMEA). The …

The Court of Appeal, Lagos State Division, has dismissed an appeal brought before it by Barrister Jimoh Ibrahim, the chairman of Global Fleet Group who is challenging the seizure of 12 of his assets by the Asset Management Corporation of Nigeria (AMCON), and freezing of all his accounts over his alleged N69.4billion …

Zenith Bank Plc has launched the third season of its hugely successful “Zenith Beta Life Promo” to reward its customers with gifts from June 1, 2023, to May 31, 2024. Within this period, twenty bank customers of Zenith Bank will be chosen through a bimonthly raffle draw, each receiving gifts …

By Wandoo Sombo and Edith Nwapi Abuja, June 6, 2023 The Presidential Candidate of the Labour Party (LP) in the February 25 Presidential Election, Mr. Peter Obi, has said that although he supports the removal of fuel subsidy, it has to be done with a human face. Obi spoke to …

By Kadiri Abdulrahman Abuja, June 5, 2023 The Debt Management Office (DMO) has offered two Federal Government of Nigeria (FGN) Savings Bonds for subscription at one thousand Naira per unit. The DMO announced the bonds offer in Abuja on Monday. It listed the first offer as a two-year FGN Savings …

The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, has been named ‘Best Banking CEO of the Year in Africa’ in the International Banker 2023 Banking Awards. The award, published in the Spring 2023 Issue of the International Banker Magazine, sees Dr Onyeagwu honoured alongside other …

By Lydia Ngwakwe Lagos, June 3, 2023 First Bank of Nigeria Ltd. recorded significant growth across key metrics in the first quarter of 2023. In its first quarter 2023 financial result, the bank stated that it recorded gross earnings of ₦245.7 billion, a 44.2 per cent growth against the ₦170.4 …

· DG lauds lawmakers, NNPCL, Says it’s a milestone for Cabotage implementation The Nigerian Maritime Administration and Safety Agency (NIMASA) has received support from the House of Representatives to disburse the $360 million Cabotage Vessel Finance Fund (CVFF) to qualified Nigerian shipowners. A committee of the House, in its report, …

The Central Bank of Nigeria (CBN) has debunked reports that it has devalued the Naira to N631 per dollar at the Importers and Exporters’ (I&E) window. A statement by Isa AbdulMumin PhD, Ag. Director, Corporate Communications of the apex bank, said the report, by Daily Trust Newspaper of June 1, …