Business

By Innocent Raphael The Nigerian Civil Aviation Authority (NCAA) has strongly denied recent media reports alleging financial impropriety, including the purchase of a luxury vehicle valued at over N250 million. The agency also threatened legal action against the online publisher unless the story is retracted. Recall that over the weekend, an online publication reported allegations of financial misconduct, government procurement…

The Central Bank of Nigeria (CBN) has barred some microfinance banks, including Moniepoint, Opay and Kuda, from opening new accounts and accepting new customers over allegations that they were being used to funnel cryptocurrency and manipulate the naira’s value. Sources confided in The Gazette anonymously since they were not authorised to speak publicly on the matter, asserting that the CBN…

The need to leverage on financial technology (Fintech) to promote financial inclusion to enhance the well-being of Nigerians and ensure sustainable economic growth took the centre-stage at the maiden Nigeria Fintech & Financial Inclusion Roundtable 2024 organised by Business Journal Media Group in Lagos. Experts at the event with the theme, the ‘Role of Fintech & Financial Inclusion in Citizen…

 Management of Dangote Cement Plc has revealed that the company dispatched seven ships of clinker- from Nigeria to Ghana and Cameroon and that the export, for the first quarter of 2024 increased by 87.2 per cent at 264kt. While the company commissioned 10 of the 17 Alternative Fuel Projects across the Group, the local demand for cement, in the same…

Nigerian Exchange Group (NGX Group) has restated its commitment to harnessing the power of fintech and collaborating with all relevant stakeholders to contribute significantly to driving the sustainable development of the Country and closing the financial inclusion gap. The Group Chairman, NGX Group, Alhaji (Dr) Umaru Kwairanga stated this at the Nigeria Fintech & Financial Inclusion Roundtable 2024 held on…

Strategies adopted by Dangote Cement Plc to increase sales and ensure an adequate supply of products to customers are yielding the desired results as domestic sales volume increased, by 26.1 per cent to 4.6Mt in the first quarter of 2024. According to the cement manufacturers’ unaudited results for the three months that ended, on April 30, 2024, the Nigerian operations…

By Innocent Raphael In a move to ensure the safety of passengers and uphold industry standards, the Federal Government has directed the Nigerian Civil Aviation Authority (NCAA) to conduct a thorough audit of all local airlines in the country. This decision comes in the wake of the suspension of Dana Airlines following a runway incident at Lagos airport. Minister of…

By Innocent Raphael The Nigerian National Petroleum Company Limited (NNPC Ltd.) has officially addressed the ongoing concerns regarding the scarcity of Premium Motor Spirit (PMS) in certain regions of the country. In a statement via its X handle on Thursday, signed by its Chief Corporate Communications Officer, Olufemi Soneye, NNPCL disclosed that the current tightness in fuel supply was due…

Telecommunications operators in the country including MTN Nigeria and Globacom have asked for Federal Government approval through the Nigerian Communications Commission (NCC) to raise their tariff. The development came after foreign exchange losses and rising energy costs forced some of the operators to post losses last year. The telcos’ proposal to raise their tariff came barely 24 hours after MultiChoice,…

By Innocent Raphael In an announcement made by Minister of Aviation and Aerospace Development, Festus Keyamo, Air Peace, the Nigerian airline operator, is gearing up to initiate its Abuja-London route in the near future. The news was unveiled during Keyamo’s appearance on Channels Television’s Politics Today programme on Thursday. Having already launched its Lagos-Gatwick flights, Air Peace has garnered praise…