Business

A court in Paris has found Lafarge, the French cement giant, guilty of paying $6.5 million to jihadist groups, including the Islamic State (IS) and the al Qaeda-affiliated Nusra Front. It is the first time a company has been tried in France for financing terrorism. The inquiry against Lafarge has been running since 2017. Bruno Lafont, Lafarge’s former CEO, was…

French cement maker Lafarge has been found guilty of paying millions of dollars in protection money to jihadist groups, including the group calling itself Islamic State (IS), to keep its business running in Syria during the civil war. Eight ex-Lafarge employees were also found guilty of financing terrorism, including former CEO Bruno Lafont who was jailed for six years on…

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has clarified that Nigeria’s digital strategy is focused on protecting national interests and achieving long-term technological independence, rather than aligning with global geopolitical rivalries. Inuwa made this known during an engagement with the management of Ericsson at the GITEX Africa in Morocco, where discussions centred on strengthening…

Gateway Air, the Ogun State-owned airline, has announced the launch of new flight operations connecting major cities across Nigeria as part of efforts to improve connectivity and expand travel options. The development was disclosed in a statement issued over the weekend by the Special Adviser on Information and Strategy to Governor Dapo Abiodun, Kayode Akinmade. According to the statement, the…

The Nigerian Shippers’ Council (NSC) and the Nigeria Revenue Service (NRS) have urged shipping companies and terminal operators to grant waivers to importers and clearing agents affected by delays linked to the implementation of the National Single Window at the nation’s seaports. The appeal was made during a stakeholders’ engagement held on Friday at the NSC headquarters in Lagos, where…

A fresh legal tussle over the ownership of Transnational Energy Limited, operator of the Hely Creek gas asset under Petroleum Prospecting Licence 221, has raised concerns about potential disruptions to operations as the dispute draws the attention of regulators. The conflict is between oil and gas businessman and former presidential aspirant, Gbenga Olawepo-Hashim, and Funmi Olawepo, a shareholder and director…

President Bola Tinubu has congratulated renowned industrialist and business magnate, Aliko Dangote, on his birthday, describing him as a key driver of industrial growth in Nigeria and across Africa. In a statement issued on Friday by his spokesperson, Bayo Onanuga, the President commended Dangote for his contributions to economic development through investments in manufacturing, petrochemicals, and infrastructure. President Tinubu said…

The Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, has commended the Ogun State Government for creating a business-friendly environment that continues to attract investors. Ogbonna gave the commendation during a visit to Governor Dapo Abiodun, where he led a delegation of senior executives from the bank. He said Ogun’s policies have gone beyond driving investment inflows, noting that…

The Transmission Company of Nigeria (TCN) has said it plans to expand the National Grid, as it commences implementation of Resettlement Action Plan (RAP), including acquisition and clearing of Right of Way (RoW) for the reconstruction and upgrade of 138km Alaoji–Onitsha 330kV transmission line. A statement by the company on its X handle, said the project is carried out in…

Air Peace, Nigeria’s largest airline and a leading carrier in West Africa, has announced plans to commence international flight operations from Gateway International Airport to London this summer. The airline’s Chief Executive Officer, Allen Onyema, disclosed this during an interview with journalists after inspecting the airport facilities alongside Governor Dapo Abiodun. The visit followed the official commissioning of the airport…