The Warri Refining & Petrochemicals Company (WRPC), has begun production at a capacity of 125,000 barrels per day. The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, made this known on Monday during a visit to the facility. Addressing a team[Read More…]
…cements capital raise with full regulatory approval Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank of Nigeria (CBN) recognising an additional ₦75 billion in its capital raise. This approval represents the final leg of the capital injection that[Read More…]
• Strengthens Banking Subsidiary’s Capital Position Beyond Regulatory Requirements Access Holdings Plc, has announced the successful conclusion of its Rights Issue, securing full regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The Rights Issue involved the issuance of 17,772,612,811 Ordinary[Read More…]
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says Nigeria needs to invest 20 billion dollars to achieve the economic targets by 2027. Edun stated this during the citizens’ and stakeholders’ engagement on the implementation of presidential priorities and ministerial deliverables for the fourth[Read More…]
The National Bureau of Statistics (NBS) reported Nigeria’s headline inflation rate rose to 34.60 per cent in November 2024, a 0.72 percentage point increase from October’s 33.88 per cent. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for November, which was released in[Read More…]
United Bank for Africa (UBA) has donated the sum of N500 million to the Lagos State Security Trust Fund (LSSTF). The bank donated through the UBA Foundation, its corporate social responsibility arm, as part of its continued commitment to a secure environment for individuals and businesses. The[Read More…]
The Federal Government is to spend 47,960,000,000,000 in 2025. The proposed expenditure was given as the Federal Executive Council (FEC) on Monday approved the budget proposals for 2025 with President Bola Tinubu ordering some amendments after its presentation to the Council by the Budget Office. Briefing[Read More…]
Dangote Petroleum Refinery and Petrochemicals FZE has sought to amend its suit against the Nigerian National Petroleum Company Limited (NNPCL) and others. The plea to amend the suit followed an application by the NNPCL before Justice Inyang Ekwo of a Federal High Court in Abuja, urging the court to[Read More…]
The Central Bank of Nigeria (CBN) has urged members of the public who are unable to obtain cash, either over-the-counter or through ATMs to report the Deposit Money Banks (DMBs) involved using designated reporting channels and formats. The CBN also directed the banks to ensure efficient cash disbursement[Read More…]
The Nigeria is requesting South Africa’s backing to attain full membership in the G20, BRICS and the BRICS New Development Bank (NDB). Nigeria is also seeking South Africa’s support to assume leadership roles in thematic discussions of interest under South Africa’s G20 presidency. These requests were made by Amb. Bianca[Read More…]
