NNPC targets two million barrels oil production daily The Nigerian National Petroleum Company Limited has announced its goal to increase crude oil production to two million barrels per day by the end of the year. The country’s daily production rose from 1.27 million barrels in June to 1.6 million[Read More…]
Nigeria seeks $500m World Bank loan for dam safety, others The Federal Government has requested a $500m loan from the World Bank to improve dam safety and enhance water resource management across the federation. The request was disclosed in World Bank’s Project Information Document on Monday. According to the document,[Read More…]
The Nigerian Airspace Management Agency has suspended its earlier announced increase in navigational charges by 800 per cent based on the directive of the Minister of Aviation and Aerospace Development, Festus Keyamo. This was disclosed this in a statement by the Director of Public Affairs and Consumer Protection of[Read More…]
There is tremendous excitement in the air as the first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe clocked 60 years on Sunday July 28, given her outstanding performance in the nation’s financial services sector that had earned her respect amongst banks’ top[Read More…]
Telecommunications operators in Nigeria have blocked millions of lines from making and receiving calls as part of an effort to complete the process of linking subscribers’ National Identification Numbers (NIN) with their active SIMs. This is in accordance with the Nigerian Communications Commission’s (NCC) directive to bar all subscribers[Read More…]
CAC issues guidelines for banks recapitalisation, merger The Corporate Affairs Commission has issued fresh guidelines to assist Deposit Money Banks in the ongoing recapitalisation. The commission, in a statement signed by its management and posted on its Facebook account on Friday, said the new directive is pursuant to its[Read More…]
FG warns IOCs against disregarding gas flare directives The Federal Government, on Wednesday, warned International Oil Companies operating in Nigeria to desist from disregarding gas flare directives of various regulatory agencies in Nigeria. It stated that though a few IOCs often complied with these directives, most of the[Read More…]
CBN increases interest rate to 26.75% amid soaring Inflation The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices. CBN Governor, Olayemi Cardoso, announced this after[Read More…]
CBN moves to protect monies in dormant accounts from frauds The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that monies in dormant accounts in banks are susceptible to fraud. He said this on Tuesday at the end of the 296th meeting of the Monetary[Read More…]
SEC, AfDB advocate green finance to boost eco-friendly economy The Securities and Exchange Commission in collaboration with the African Development Bank, have called for a heightened embrace of green finance as a strategy to combat climate change and foster a sustainable economy in the country. The Director-General of the[Read More…]
