Business

The electricity power generation companies (GenCos) have warned that the over N4 trillion unpaid invoices owed by the federal government and stakeholders for electricity generated threatens their operations. In a statement on Monday, signed by chairman of board of trustees, Association of Power Generation Companies (APGC), Sani Bello, the GenCos asked the federal government and key stakeholders to urgently address…

The Central Bank of Nigeria (CBN) on Monday said recapitalisation of Nigeria’s banks to power a $1trillon economy would no doubt improve the strength and health of the financial system, deepen financial intermediation and promote healthier competition as well as usher in a robust payment architecture needed to strengthen payment system. Delivery a keynote speech at the 36th seminar for…

The Nigeria Union of Journalists (NUJ), Lagos State Council has commended Dangote Refinery for its consistency in the price reduction of Premium Motor Spirit (PMS) otherwise known as petrol. Reacting to the latest reduction in the ex-gantry loading cost of PMS from N880 per litre to N865, the Chairman, Nigeria Union of Journalists, Lagos State Council, Mr Adeleye Ajayi, said…

 The minister of power, Adebayo Adelabu says the federal government is securing about $2.3 billion investment to revamp power transmission in Nigeria. Adelabu spoke during a meeting with Gautier Mignot, the European Union (EU) ambassador to Nigeria, in Abuja on Saturday. He said the intervention is one of the viable improvements since the new administration came into power. “Number one,…

The Central Bank of Nigeria (CBN) has reported high loan default rates among Large Private Non-Financial Corporations (PNFCs) and Other Financial Corporations (OFCs), raising fresh concerns about credit risk at the upper end of the lending market. This is according to the apex bank’s Credit Conditions Survey Report for the first quarter of 2025. Despite overall improvements in loan performance…

Access Bank Plc said it has secured approvals from the Central Bank of Kenya (CBK) and Kenya’s National Treasury and Economic Planning for the acquisition of 100per cent shareholding of the National Bank of Kenya (NBK). The bannking subsidiary of a Nigeria’s Access Holdings Plc stated that it is acquiring NBK through the purchase of NBK shares from KCB Group…

Seplat Energy Plc, leading Nigerian independent energy Company has restated its commitments to energy sustainability as it impacts people, environment and corporate governance, stressing that its focus is long-term with dividends accruable beyond today. The Chief Operating Officer, Seplat Energy, Mr. Samson Ezugworie, stated this at the Society of Petroleum Engineers (SPE) Nigeria Council 2025 Oloibiri Lecture Series and Energy…

The newly enacted Investments and Securities Act, 2025 (ISA 2025) has made it illegal to operate digital asset exchanges or online foreign exchange trading platforms without formal registration with the Securities and Exchange Commission (SEC). Signed into law by President Bola Ahmed Tinubu, ISA 2025 significantly strengthens the regulatory framework governing Nigeria’s capital market, with a particular focus on digital…

United Bank for Africa (UBA) Plc, has unveiled its vastly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empowering small and Medium Scale Enterprises across Africa. The upgraded platforms form part of the bank’s ongoing campaign with the theme: Innovation for Progress: Empowering SMEs, Connecting Communities, Simplifying Banking.…

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, on Friday received the Executive Vice President, Finance, Administration and Banking Services at Afreximbank, Denys Denya in Abuja to strengthened collaboration.   The meeting focused on strengthening collaboration with key stakeholders in support of NNPC Ltd.’s ongoing transformation journey, an effort the GCEO described as “incredible.” He…