NNPC, First E&P commence production at OML 85, target 20,000 bpd The Nigerian National Petroleum Company (NNPC) Limited and its joint venture partner in oil mining lease (OML) 85, First Exploration and Petroleum Development Company Limited (First E&P) have commenced oil production from the asset, also known as Madu field.[Read More…]
Customs adjust FX rate for import duties to N1,147/$ The Nigeria Customs Service (NCS) has again adjusted the foreign exchange (FX) rate for duties to N1,147.02 per dollar. This represents a 7.3 percent decrease compared to N1,238.1/$ displayed on April 18. TheCable reports that the rate adopted by customs[Read More…]
Acting PDP National Chairman, Umar Damagum, retains seat The National Caucus of the Peoples Democratic Party (PDP) has extended the tenure of Umar Damagum as the acting National Chairperson of the party. The National Publicity Secretary of the PDP, Debo Ologunagba, disclosed this on Thursday while addressing journalists after the[Read More…]
Wema Bank removes fintech partners from platform over fraud Wema Bank has said that it has removed and suspended about seven fintech partners from its payment gateway platform over fraudulent activities. This is as the bank unveiled an anti-fraud campaign to protect its customers and other Nigerians against[Read More…]
AltBank, Sterling One Foundation, Lagos Foodbank combat hunger, champion education The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African[Read More…]
Court adjourns to May 27, trial of businessman, Ibeto over alleged N4.8bn fraud In anticipation of the Court of Appeal judgement, a Lagos High Court sitting in Ikeja has adjourned the trial of the Chairman of Ibeto Energy Development Company, Chief Cletus Ibeto till May 27. Chief Ibeto was charged[Read More…]
DSS releases ally of El-Rufai who made Facebook comment against Gov. Uba Sani The Department of State Services (DSS) has released Aisha Galadima, an ally of former governor of Kaduna State, Nasir El-Rufai from detention over a post she made against Governor Uba Sani. Aisha, a chieftain of the All[Read More…]
Dangote Refinery crashes diesel price to N1,000 A massive reduction in diesel price has been announced by Dangote Petroleum Refinery, with the product selling at N1,000 as against the N1200 it was previously selling. Recall that the Dangote Refinery had a few weeks ago while rolling out diesel to the[Read More…]
Kano anti-graft agency files fresh charges against Ganduje The Kano State Anti-Corruption and Public Complaints Commission says it has filed fresh charges of corruption and maladministration against an ex-governor of the state, Abdullahi Ganduje. “What is happening now is a tip of the iceberg,” the Chairman of the anti-graft[Read More…]
Fidelity Bank grows Profit by 131.5% in FY 2023 –Declares a final dividend of 60kobo per share Leading financial institution, Fidelity Bank Plc, has released its 2023 full-year Audited Financial Statements, reporting a 131.5% growth in Profit Before Tax to N 124,26 billion. According to the results,[Read More…]
