The Central Bank of Nigeria yesterday said there are no plans to revoke the operating licenses of Fidelity Bank, Wema Bank, Polaris Bank and Unity Bank Acting Director of Corporate Communications of CBN, Mrs. Hakama Sidi Ali stated this in a statement averring that rumours of a plan to revoke the licences of the banks […]
In furtherance of its commitment to monetize Nigeria’s vast natural gas resources, the NNPC Limited has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria. The signing ceremony, which took place in Abuja, was attended from the NNPC Limited side by […]
Elon Musk disclosed on Monday that he’ll ban Apple devices from his companies’ premises if the iPhone creator goes forward with its planned OpenAI integration. Apple announced at its Worldwide Developer’s Conference on Monday that it will be integrating its new AI software, called Apple Intelligence, across the iPhone, iPad, and Mac. It also separately […]
At the backdrop of the banking industry recapitalization drive, Fidelity Bank Plc has concluded arrangements to raise a total of ¦ 127.1 billion by way of a Rights Issue to existing shareholders and a Public Offer. The combined offer is part of the Bank’s strategy to increase its share capital base in compliance with the revised […]
Abuja-Power generation companies in Nigeria, GenCos, yesterday raise the alarm over the imminent collapse of their operations, following a huge debt of N2 trillion and an estimated funding gap of N1.7 trillion contained in the 2024 Multi-Year Tariff Order. The companies said so far, only about 10 per cent of its monthly invoices for power […]
There may be no respite yet for investors in the stock market as investment analysts have said that the outcome of the last Monetary Policy Committee, MPC, meeting will continue to drive asset reallocation from equities. Although the market started the week on a positive note, negative sentiments resurfaced later in the week as investors reacted […]
Controversy seems to have enveloped the oil industry as Nigeria’s two major oil industry authorities, the Nigerian Upstream Regulatory Commission, NUPRC, and the Nigeria National Petroleum Company Limited, NNPCL, have reported contradictory figures on Nigeria’s actual oil output last month, April 2024. While NNPCL is giving 1.7 million barrels per day (mbpd) NUPRC is showing 1.28mbpd. The figure […]
The 14th Emir of Kano and former governor of Central Bank of Nigeria, Alhaji Lamido Sanusi, former deputy governor of Central Bank, Kingsley Moghalu and Professor Magnus Kpakor will lead discussion on the Rivers State Investment Summit slated to be held on 22nd and 23rd May, 2024. Rivers State Commissioner for Information and Communication, Barrister […]
Bonny Gas Transport Limited (BGT), a subsidiary of Nigeria LNG Limited (NLNG), has chartered a new-build vessel, AKTORAS, in a strategic move to diversify and reduce the carbon footprint of its shipping portfolio. BGT was founded in 1989 to provide shipping capacity to NLNG’s operations and has been instrumental in solidifying NLNG’s reputation as a […]
Group Managing Director/Chief Executive, United Bank for Africa, UBA Plc, Mr. Oliver Alawuba, yesterday said that the bank will continue to focus on innovations that enhance customer experiences in order to sustain achievements recorded in the 75 years of the bank’s operation. Speaking during the bank’s world press conference at the UBA House in Lagos to mark the […]
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