Business

The Nigerian Railway Corporation (NRC) under the leadership of the Managing Director, Dr. Kayode Opeifa, has expressed its resolve to expose all those behind vandalization of railway critical assets and stamp out the criminal act. He disclosed this in a statement posted by Presidential Villa update on X after the arrest of two rail vandals in Kafanchan, Kaduna State, found…

The Federal High Court in Abuja on Wednesday restrained the Federal Competition and Consumer Protection Commission (FCCPC) from taking “any administrative steps” against MultiChoice Nigeria Limited following its DStv and GOtv price increases. MultiChoice had informed its customers about a planned price increase across its DStv and GOtv packages, set to take effect on March 1, 2025. Justice James Omotosho…

The National Commissioner/CEO of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, on Wednesday led staff of the Commission to the office of the   Minister of Communications, Innovation, and Digital Economy, Dr ‘Bosun Tijani, to brief him on the Commission’s progress in preparing to host the conference and annual general meeting of the Network of African Data Protection Authorities…

Known to have commenced operations 1945, Wema Bank Plc has stood the test of time and withstand numerous challenges to be recognized as one of Nigeria’s leading financial institutions. Our correspondent examines the journey so far, source stories and future ahead. In the beginning… It was 1945 and the world was emerging from the shadows of war, and Nigeria was…

Nigerian National Petroleum Company Limited (NNPCL) on Monday disclosed that the Naira-for-crude deal with Dangote Refinery, among other private refineries was structured as a six-month agreement. WESTERNPOST had reported of NNPCL suspending the naira-for-crude oil swap deal with domestic refiners, including Dangote Refinery and other private operators. The decision, which took immediate effect, has sparked discussions about its implications for…

Naira at the Nigerian Foreign Exchange Market (NFEM) rate on Monday appreciated by 0.9per cent to N1,528.00 against the dollar from N1,542.00 against the dollar it opened for trading. The naira last week had depreciated by 3.6per cent to N1,556.63 against the dollar at the NFEM as the CBN’s intervention — selling c.$59.00 million to authorized dealers — helped limit…

The management of the Eko Electricity Distribution Company on Monday confirmed the persistent load-shedding in the Lagos region. This is as residents across the Lagos region continue to experience significant power disruptions due to ongoing faults on the 330kV transmission lines. In a statement released on its X handle, EKEDC confirmed that the persistent load-shedding is a direct result of…

The Nigerian National Petroleum Company (NNPC) Limited has suspended the naira-for-crude oil swap deal with domestic refiners, including Dangote Refinery and other private operators. The decision, which took immediate effect, has sparked discussions about its implications for Nigeria’s energy sector and the broader economy. The naira-for-crude arrangement, introduced on October 1 2024, allowed local refiners to purchase crude oil in…

Access Bank PLC (Access Bank), a leading African bank, has received the IFC EDGE (Excellence in Design for Greater Efficiencies) Green Building Certification for its banking headquarters, called Access Tower, located in Oniru, Victoria Island, Lagos. Access Bank’s Head Office has achieved a 20per cent reduction in energy use, a 33per cent reduction in water use, and a 99 per…

Investors lost an estimated N476.01 billion Week-on-Week (WoW) in market capitalisation as profit-taking rocked some blue-chip stocks quoted on the Nigerian Exchange Limited (NGX) . Despite a significant capital infusion from Fidelity Bank’s N175.85 billion listing, the overall market value slipped 0.71per cent to N66.72 trillion from N67.19 trillion. The NGX All-Share Index (NGX ASI) tumbled 1.19per cent to 106,538.60…