Business

The Central Bank of Nigeria (CBN) has reiterated that all versions of the naira, including the old and new designs of the N1000, N500, and N200 notes, as well as the commemorative and previous designs of the N100 note, remain valid legal tender and will continue to be legal tender indefinitely. In a statement released on Friday, the Acting Director…

MTN Nigeria Communications Plc has notified the Nigerian Exchange Limited and the investing public of the successful completion of its Series 13 and 14 Commercial Paper (CP) issuance under the Company’s N250 billion Commercial Paper Issuance Programme. MTN Nigeria sought to raise N50 billion, but the offer recorded a 144% over subscription with N72.18 billion issued. The 180-day and 270-day…

The Obi of Onitsha, Igwe Nnaemeka Achebe, has said there is need for businesses in the South East to build partnership with national and international institutions in order to restore its historic status as a fastest-growing economic hubs globally. The Royal Father said this at the maiden South East Business and Investment Summit in Enugu city. WESTERN POST reports that…

Nigeria Civil Aviation Authority (NCAA) has approved the Ekiti Agro-Allied International Cargo Airport (EAICA), Ado-Ekiti to commence non-scheduled flight operation effective December 15th, 2024. This was disclosed by the Special Adviser to the Ekiti State governor on media, Yinka Oyebode, in a statement on Thursday. He added that as part of compliance steps towards the commencement of the non-scheduled flight…

Seplat Energy Plc, has announced that it has completed its acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil .  The transaction is transformative for Seplat Energy, more than doubling production and positioning the Company to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity. The completion of this acquisition has created Nigeria’s leading independent energy company, with…

Access Holdings Plc has announced that its banking subsidiary, Access Bank Plc, has entered into a binding agreement with South Africa-based Bidvest Group Limited for the acquisition of a 100per cent equity stake in Bidvest Bank Limited. This agreement reflects the Bank’s commitment to strengthening its footprint in South Africa and consolidating on its position as the continent’s gateway to…

As the world seeks ethical and inclusive financial solutions, the Securities and Exchange Commission has said that the Federal Government of Nigeria has issued six Sovereign Sukuk worth ₦1.1 trillion ($657.6million), to finance 124 Federal road projects covering over 5,820 kilometers across the six geopolitical zones of the country. Director General of the SEC, Dr. Emomotimi Agama who stated this…

The National Information Technology Development Agency (NITDA) and the Advocacy for Policy and Innovation (API) have released a Whitepaper on the framework for an Online Harms Protection Bill in Nigeria. NITDA, in a statement issued on Thursday by its Director, Corporate Communications and Media Relations, Hadiza Umar, said the document was developed in collaboration with Advocacy for Policy and Innovation…

In a landmark move for regional energy integration, Dangote Refinery and Neptune Oil jointly announced the first-ever export of Premium Motor Spirit (PMS) or petrol from Dangote Refinery, Africa’s largest oil refinery, to Cameroon. This milestone, resulting from a strategic collaboration between the two companies, underscores their commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s…

The national power grid has again collapsed on Wednesday at about 2:09pm. This will be 12th time the power grid would be collapsing from January 2024 till date.  A tweet via the official handle of Nigeria’s National Grid confirmed the collapse  of the grid on Wednesday. “The major grid setback has occurred and the restoration is to commence,” the tweet…