Business

The Nigerian National Petroleum Company Limited (NNPC Ltd.)  on Monday debunked media reported over an alleged N3.3 trillion inflated subsidy claims. The corporation in a statement stated that it conducts its businesses accountably and transparently in keeping with international best practices and has, at no time, inflated its subsidy claims with the Federal Government, stressing that all previous subsidy claims…

By Innocent Raphael The price of Premium Motor Spirit (PMS), commonly known as petrol, is expected to fall to around N300 per litre once large-scale production begins at the Dangote Petroleum Refinery and other local refineries, according to the Crude Oil Refinery Owners Association of Nigeria (CORAN). This announcement came on Sunday, with officials highlighting the importance of adequate crude…

Nigerian Exchange (NGX) Limited has urged investors to leverage on its new USSD platform for enhanced capital market access. NGX stated this at its Investor Education Series, partnered with Meristem via a zoom meeting held recently with the theme, ‘Unlocking Potential: Leveraging USSD For Enhanced Capital Market Access’. Speaking at the event, Head, Trading & Products of NGX, Abimbola Babalola…

 Amidst domestic and global economic headwinds, Nigerian Exchange Limited market capitalisation gained N15.25 trillion in value in the first five months of 2024 as investors continued to invest in fundamentally sound quoted companies on the bourse. The N15.25 trillion market capitalisation growth is coming amid the spate of rising insecurity, inflation, hikes in Central Bank of Nigeria’s (CBN) monetary policy…

FMDQ Securities Exchange Limited, through consistent collaboration with its stakeholders, continues to deepen and effectively position the Nigerian debt markets for growth, supporting the realisation of a globally competitive and vibrant economy. In keeping with its commitment to provide a reliable and credible platform to support capital formation, FMDQ Exchange is pleased to announce the approval for the quotation of…

By Innocent Raphael In a rapidly intensifying dispute, billionaire businessman Femi Otedola has clashed with Jim Ovia, chairman of Zenith Bank, over an alleged multibillion naira fraud. Otedola has accused Zenith Bank of unauthorized trading using the account of his company, Seaforce Shipping Limited, dating back to 2011. Otedola’s complaint centers on claims that Zenith Bank conducted transactions on Seaforce…

 The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said it would mandate international oil companies to supply crude oil to Dangote oil refinery. The spokesperson for the NUPRC, Olaide Shonola, said the commission was intervening to ensure the local sale of crude to Dangote and other refineries in the country. Shonola stated this while reacting to a claim by the…

The Nigerian Deposit Insurance Corporation (NDIC) has said the payment of depositors in the recently liquidated Heritage Bank will commence before the end of the week. The Managing Director of NDIC, Bello Hassan, disclosed this in a briefing on the liquidation of the bank in Abuja on Wednesday. Hassan said the total bank deposits at heritage bank stands at N650…

The Federal Airports Authority of Nigeria (FAAN), has announced that power supply will be disconnected at the Lagos airport on June 5, to allow for maintenance work. A statement issued on Tuesday by FAAN’s Director of Public Affairs and Consumer Protection, Obiageli Orah, said the maintenance is necessary to address urgent issues with the bus riser 11 kilo-volt-amperes (KVA) high…

FMDQ Securities Exchange Limited (FMDQ Exchange), known for its commitment to providing a reliable and credible platform for the registration, listing, quotation, trading and reporting of financial securities, has announced the registration of Alpha Mead Facilities & Management Services Limited N5 billion Commercial Paper (CP) Programme on its platform.   Alpha Mead Facilities & Management Services Limited (Alpha Mead Facilities)…