Business

Fidelity Bank Plc has commended Air Peace’s performance since it commenced flight operations about 10 years ago. The Managing Director, Fidelity Bank, Dr. Nneka Onyeali-Ikpe gave the commendation over the weekend in Lagos during a special event organised for the airline by the bank to celebrate Air Peace for the milestone of commencement of direct flights from Lagos to London.…

The Economic and Financial Crimes Commission (EFCC) has slammed a fresh charge on former Central Bank of Nigeria (CBN) governor Godwin Emefiele before the High Court of the Federal Capital Territory (FCT). The commission accused him of approving the printing of N684,590,000 at the rate of N18.96 billion. It alleged that Emefiele broke the law with the intent to harm…

Dangote Petroleum Refinery has again announced a further reduction in the price of diesel to N940, per litre. Also, price of aviation fuel crashed to N980/litre.  This is coming in the wake of its widely celebrated price reduction to N1,000 barely two weeks ago. The price change of N940 applies to customers buying five million litres and above from the…

By Innocent Raphael The Nigerian Airspace Management Agency (NAMA) is considering the review of navigation charges paid by airlines operating within the country’s airspace. This move comes amidst complaints from airlines regarding escalating charges from service providers. WesternPost gathered that the proposed review also extends to ground-handling fees, which remain a point of contention between operators and ground-handling companies. According…

Keen on optimising production from the nation’s hydrocarbon assets to boost revenues and meet the nation’s OPEC production quota, the Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner in the Awoba Unit Field, Newcross Exploration and Production Ltd., have restarted production from the Awoba field which last contributed production to the Bonny Terminal in 2021 and…

FBN Holdings Ltd has officially notified the Nigerian Exchange Limited that it has appointed Olusegun Alebiosu as the Acting Chief Executive Officer of its subsidiary, First Bank of Nigeria of Nigeria Limited. The appointment of Alebiosu following the surprised resignation of Adesola Adeduntan, who was due to complete his tenure in December. “As you are aware, my contract would be…

The Central Bank of Nigeria (CBN), governor, Dr. Yemi Cardoso has revealed that it is doing everything possible to achieve a stable foreign exchange (FX) rate.  CBN governor, spoke on April 20 during a press conference held at the annual meetings of the International Monetary Fund (IMF) and World Bank Group. He said the financial regulator is also working to…

…as Gov. Inuwa Yahaya Woos Africa’s Richest Man President of Dangote Group, Alhaji Aliko Dangote, has expressed readiness to take advantage of Gombe State’s favourable business environment and invest. Dangote who was received by Gombe State Governor, Muhammadu Inuwa Yahaya,  noted that Gombe State under his leadership has provided a good template for his company, maintaining that the time is…

Kunle Sanni The Corporate Affairs Commission (CAC) has denied allegations that its agency engaged in a recruitment process that violated the Federal Character Principle. In a statement released on Saturday, Registrar-General/CEO, CAC, Mr. Hussaini Ishaq, stated that the Commission is confronted with a series of issues regarding a backlog of promotions and other welfare-related issues. However, the Commission said it…

African Export-Import Bank (Afreximbank) announced on Friday that it has extended a USD 25 Million term loan facility to Kensington Oval Management Inc. (KOMI), a major sports facility in Bridgetown, Barbados, ahead of the 2024 Cricket World Cup which is set to take place from June 4th to 30th in Bridgetown.  The term loan facility is backed by a guarantee…