Business

ABUJA – The Nigerian National Petroleum Company NNPC Limited on denied viral video where a fuel attendant where allegedly coercing customers to purchase lubricants or engine oil as a prerequisite for purchasing or dispensing Premium Motor Spirit (PMS), also known as petrol. Chief Corporate Communications Officer, Olufemi Soneye in a statement, stated that the allegation is entirely false and does…

By Innocent Raphael Wema Bank’s Retail Cluster Head for the Abeokuta zone, Mr. Abiodun Folorunsho, has highlighted  the bank’s intention to transform the landscape of digital banking solutions and contribute immensely to green energy initiatives. Speaking at WesternPost Newspaper’s annual retreat on Saturday, Folorunsho underscored the bank’s innovative product, ALAT, Nigeria’s first fully digital bank. ALAT offers a seamless banking…

The Nigerian Economic Summit Group (NESG) has backed the recent decision of the Central Bank of Nigeria (CBN) to discontinue the Price Verification System (PVS) for foreign exchange transactions, saying it will remove regulatory bottlenecks and boost macroeconomic stability. The CBN, in a recent circular, stated that with effect from July 1, applications for Form ‘M’  would no longer be…

Ekiti State Governor, Biodun Oyebanji and Chief Wole Olanipekun, SAN attended the investiture of Ekiti indigene, Ropo Dada as the 13th President of Chartered Institute of Stockbrokers in Lagos on Friday. Writing on the even on his social media pages, Governor Oyebanji said: “It was an honour to attend the investiture ceremony of the 13th President and Chairman of the…

A total of 2,659 members of the National Youth Service Corps (NYSC) across Nigeria have been pre-qualified for the final phase of the NNPC Foundation Business Pitching Exercise. The event is to hold from July 2nd to 10th, 2024. According to NNPC, the exercise is an integral part of the NNPC Foundation’s Financial Literacy Program for Nigerian youths that witnessed…

The Central Bank of Nigeria (CBN) on Friday announced new guidelines for Deposit Money Banks (DMBs) to deposit excess foreign currency notes at its Lagos and Abuja branches. This initiative, according to the bank, is intended to achieve convergence in the exchange rates of the parallel and official markets. The directive was announced in a circular to all commercial banks…

The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has disclosed that Nigeria’s total foreign exchange (FX) inflow reached $24 billion in the first quarter of the year (Q1) 2024, stressing on the significant improvement in market conditions. In a 20-minute interview with Bloomberg, Cardoso declared an end to the recent panic over the naira’s devaluation, attributing the stabilisation…

By Innocent Raphael The Managing Director and Chief Executive of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, has expressed the Authority’s commitment to supporting Plateau State in its efforts to become a major hub for agricultural produce and boost Nigeria’s economy through the Aviacargo business. She  made this pledge during a reception for Plateau State Governor, Mr.…

The Director General of the Security and Exchange Commission (SEC), Mr. Emomotimi Agama, has said that Nigeria’s cryptocurrency market is  estimated to be worth over $400 million, with a significant portion of the population involved in cryptocurrency trading and transactions. Speaking at the 2024 Annual Conference of the Association of Capital Market Academics of Nigeria (ACMAN) Thursday in Abuja, with…

The Central Bank of Nigeria (CBN) says measures have been implemented to allow eligible international money transfer operators (IMTOs) access naira liquidity at the official window. The CBN, in a circular on Monday, said the new measures will enhance local currency liquidity for the settlement of diaspora remittances. They are also part of the regulator’s commitment to the smooth functioning…