Business

The Central Bank of Nigeria (CBN) has reported a 130per cent surge in remittance inflows, with the figure reaching $553 million in July 2024. According to the CBN, this milestone represents the highest monthly remittance inflows ever recorded, marking a significant increase from the same period in 2023. This is according to a statement by Hakama Sidi Ali, the Acting…

Lango, a South African real estate firm, has agreed to acquire assets owned by Hyprop Investments Limited and Attacq Limited in Nigeria and Ghana for $200million. In a joint statement dated August 12, Lango agreed to acquire Accra Mall, Kumasi City Mall, West Hills Mall (all in Ghana), and Ikeja City Mall (ICM) in Nigeria, “at $200 million”. According to…

Sales of crude oil to Dangote Refinery and other local refineries will start on October 1, 2024. the Federal Government has said The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, announced at a meeting with the Implementation Committee on Crude oil Sales in Naira, on Monday in Abuja. A post on the official X page…

The Chairman, House of Representatives Committee on Banking & Ancillary Institutions, Honourable Eze Nwachukwu Eze; at the weekend in Enugu renewed the campaign for all agencies of the Federal Government to join the debt recovery drive of the Asset Management Corporation of Nigeria (AMCON). Eze said the recovery of such humongous amount of nearly N5trillion owed AMCON by a few…

The new management of the Securities and Exchange Commission (SEC) has rolled out new initiatives to drive activities in Nigeria’s capital market in alignment with the Federal Government’s  one trillion dollar economy target. Director-General of the SEC, Dr Emomotimi Agama, said this at his first post-Capital Market Committee (CMC) press briefing in Lagos, weekend. Dr. Agama expressed the determination of…

Nigerian National Petroleum Company Limited (NNPC Ltd.) has denied media report that it is indebted to international oil traders to the tune of $6.8billlion The Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye in  a statement posted on social media on Sunday also debunked report that has not remitted revenues to the Federation Account since January, among other allegations.   In…

The Nigerian National Petroleum Company (NNPC) has advised jobseekers to ignore rumours of employment slots for sale. NNPC’s spokesperson, Femi Soneye  in a statement on Saturday, said the hiring procedure is a straightforward process that does not involve the sale of slots or inducement. “The company states that there is no iota of truth in the insinuations that it has…

In a significant move to address food insecurity in Nigeria, the Rural Electrification Agency (REA) has joined forces with Community Energy Social Enterprise Limited (CESEL) to launch an ambitious solar irrigation project. This ground breaking partnership aims to deploy solar irrigation systems across 200,000 hectares of farmland nationwide over the next four years, leveraging on the REA’s Productive Use of…

The Management, Matrix Energy Group has denied reports of importing substandard fuel into Nigeria and engaged in any misconduct  in the oil & gas sector. The company in a statement on Saturday said, “ Our attention has been drawn to a recent online publication where our name was featured. “We would have loved to ignore the tissue of lies spewed…

BigChance Lotteries Management Limited has deployed state-of-the-art POS terminals to major cities in Nigeria to complement its online platform, where Nigerians can play and win millions of naira in cash rewards every week. Speaking during the launch of the terminals in Lagos on Thursday, the Managing Director of Big Chance Lotteries Management Limited, Opeyemi Oguntimehin, said that the firm’s goal…