Business and Economy

By Lydia Ngwakwe Lagos, Feb. 28, 2022 Zenith Bank Plc has announced gross earnings of N765.6 billion as at Dec. 31, 2021 compared with N696.5 billion achieved in the corresponding period in 2020. In the banks audited financial results for 2021, presented to the Nigeria Exchange Group (NGX) on Monday, …

By Solomon Asowata Abuja, Feb. 28, 2022 The Nigeria LNG Company Ltd. (NLNG) has won the 2021 Gas Infrastructure Project Company of the year award in the Nigeria oil and gas sector. The award was conferred on the company at the gala night of the fifth Nigeria International Energy Summit …

By Cecilia Ologunagba New York, Feb. 27, 2022 The Consulate-General of Nigeria in New York has announced that the Consulate will start issuance of passports with 10 years validity to the country’s nationals. The Consul-General, Amb. Lot Egopija, who disclosed this at the Virtual 4th Town Hall for Nigerian nationals …

With spell binding musical performances from Johnny Drille, Chike and Fave as well as interesting games, The Euphoria lived up to its billing as a major A-class event in Nigeria’s entertainment schedule in 2022. Hosted by leading Nigerian bank, Fidelity Bank Plc in commemoration of the Valentine’s season on Saturday, …

By Solomon Asowata Lagos, Feb. 25, 2022 Seplat Energy Plc, a leading Nigerian energy company, says it had entered into an agreement to acquire the entire share capital of Mobil Producing Nigeria Unlimited (“MPNU”) from ExxonMobil Corporation, Delaware, U.S. Seplat Energy made the announcement in a statement issued on Friday, …

Fidelity Bank Plc, a leading Nigerian bank, has reaffirmed its commitment to actively support the Central Bank of Nigeria’s (CBN) efforts to achieve its goal of $200 billion in Foreign Exchange (FX) repatriation from non-oil exports over the next five years. The Executive Director, Northern Businesses, Fidelity Bank Plc, Hassan …

By Lydia Ngwakwe Lagos, Feb. 22, 2022 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 …

By Lucy Ogalue Abuja, Feb. 21, 2022 Minister of Transportation, Rotimi Amaechi, says Kano State will house the biggest rail station in the country. Amaechi stated this when a delegation from Kano State, led by Gov. Abdullahi Ganduje visited him in Abuja to discuss the rail and Inland Dry Port …

  Akwete today is being popularised as a metaphor by Anambra State Governor – Elect, Cee Cee Soludo for the purchase and consumption of made in Anambra products and services. Already, the women of Akwete who under the inspiration of the pioneering works of Dada Nwakata, gave the world this …

Mr Chikwelu Adigwe, Anambra State NULGE President By Lucy Osuizigbo-Okechukwu Awka, Feb. 20, 2022 The Anambra Chapter of the Nigerian Union of Local Government Employees (NULGE) says that the state government is owing its retirees over N14 billion outstanding gratuities. Mr. Chikwelu Adigwe, the state NULGE President, disclosed this to …

Lagos, Nigeria, 17 February 2022: The Executive Secretary of the Nigerian Content Development & Monitoring Board (NCDMB), Engr. Simbi K. Wabote, has urged the Guild of Corporate Online Publishers (GOCOP) to help the nation in weeding out bad eggs in the journalism profession. Speaking at a breakfast meeting with GOCOP members at …

Lagos is set to host its first major concert of the year this weekend as leading financial institution, Fidelity Bank Plc, hosts The Euphoria concert featuring leading music acts, Johnny Drille, Chike and Fave. To be part of The Euphoria, intending guests must download the Fidelity Mobile Banking app while …

To mark the participation of Nigeria at the ongoing 6th EU-AFRICA summit in Brussels, Belgium, President Muhammadu Buhari today, Thursday penned an opinion article to coincide with the opening of the meeting in the Politico, an online/offline magazine which is the biggest/ most influential publication for the EU/ in Brussels. …

By Ismaila Chafe Abuja, Feb. 16, 2022 The Federal Executive Council (FEC) has approved $2.8million for the procurement of rolling stocks operational maintenance equipment for Ibadan to Kano standard gauge and Port Harcourt to Maiduguri narrow gauge railway projects. The Minister of Transportation, Rotimi Amaechi, made the disclosure when he …

The Chairman, House of Representatives Committee on Petroleum (Downstream), Hon. Abdullahi Mahmud Gaya has assured Nigerians that his Committee will handle companies who imported methanol-blended Premium Motor Spirit (PMS) into the country. The Chairman was responding to a question from one of the Committee members in that regard. Hon. Gaya, …

…wants bankers, stockbrokers, pension administrators to also declare assets  The Senate on a Tuesday considered a bill seeking to amend the 35-year old Bank Employees Declaration of Assets (BEDA) Act 1986. “The Bill For An Act To Amend The Bank Employees (Declaration of Assets) Act CAP B1 Laws of The Federation …

The Federal High Court sitting in Yenagoa on Monday adjourned till March 22 the hearing on a N 700 billion oil spill compensation suit filed by members of Aghoro 1 community in Bayelsa. The people of Aghoro 1 in Ekeremor Local Government Area (LGA) in Bayelsa sued Shell Petroleum Development …

The Debt Management Office (DMO) has said that Nigeria is implementing policies aimed at increasing revenues as well as developing infrastructure through Public Private Partnership (PPP) arrangements, both to improve debt sustainability. Reacting to the International Monetary Fund (IMF) and Agusto and Co.’s position that Nigeria’s debt sustainability was causing great …

By Kadiri Abdulrahman Abuja, Feb.  11, 2022 The Debt Management Office (DMO) on Friday offered for auction, two separate Federal Government of Nigeria (FGN) bonds at N75 billion each. The DMO in its website, announced that the bonds are N75 billion, 10-year re-opening FGN bonds at 12.5 per cent interest rate and …

By Kadiri Abdulrahman Abuja,  Feb. 10, 2021 The Central Bank of Nigeria (CBN) has introduced a new intervention programme (RT200) to help improve export receipts and boost the country’s foreign exchange earnings. The CBN Governor, Mr. Godwin Emefiele, made this known on Thursday in Abuja, while addressing journalists on the …

By Kadiri Abdulrahman Abuja, Feb. 8, 2022 The Debt Management Office (DMO), has announced two Federal Government of Nigeria (FGN) bonds for subscription for the month of February, at N1000 per unit. In a statement on its website on Tuesday, the DMO explained that the first offer was a two-year …

The National Council on Privatisation (NCP) has granted approval to Orbit Exploration and Natural Products Limited (OENPL) to take over the mineral titles of Ogboyega North and South Coal Blocks, Mines number 769 & 772 ML from Western Metal Products Company (WEMPCO). The company, according to a statement by Ibeh Uzoma …

By Itohan Abara-Laserian Lagos, Feb. 7, 2022 FMDQ Securities Exchange Ltd. has announced the listing of the Federal Government of Nigeria’s four billion dollars Eurobonds under its global medium-term note programme on its platform. This is contained in a statement by FMDQ Exchange made available to the News Agency of …

Fidelity Bank has facilitated the disbursement of over N34 Billion in direct credit to players in the Nigerian rice value chain. The bank’s interventions in recent years have helped to unlock spontaneous financing opportunities for a large swathe of paddy rice farmers with significant contributions to the expansion of national …

By Edith Ike-Eboh and Emmanuel Afonne Abuja, Feb. 6, 2022 (NAN) The Nigeria National Petroleum Company (NNPC) Limited had a busy week following the award of honourary doctorate degree on its Group Managing Director (GMD) and Chief Executive Officer (CEO), Malam Mele Kyari. The award was bestowed on the awardee …