Business

The Nigerian Ports Authority (NPA) has alerted the public to the activities of criminal elements using social media to mislead and defraud unsuspecting individuals with fake procurement contract offers. A fictitious LinkedIn account has been created in the name of the NPA’s Managing Director/CEO, Dr. Abubakar Dantsoho. NPA in a statement on Thursday on its official X handle, matters related…

The Nigerian Communications Commission (NCC)   said it is engaging with the Central Bank of Nigeria (CBN) over the Unstructured Supplementary Service Data (USSD) debt issue between the telecom operators and the commercial banks in the country. USSD, also known as quick or feature codes, is a global system for mobile communications (GSM) protocol that is used to send text messages…

The Director General, Securities and Exchange Commission, SEC, Dr Emomotimi Agama has disclosed that so far about N1.682 trillion has been raised by banks through e-offering in the bank recapitalization exercise. The Commission in a statement on Wednesday said Dr Agama made this disclosure on the sidelines of the recently held Chartered Institute of Stockbrokers Conference held in Ibadan, Oyo…

The Managing Director/Chief Executive of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, led a team of officials on a comprehensive assessment tour of Lagos’ Murtala Muhammed International Airport today. The tour included Dr. Hendrix Odige from the Central Delivery Coordination Unit (CDCU) under the Office of the Special Adviser to the President on Policy and Coordination, and…

The Federation Account Allocation Committee (FAAC) has distributed a total of N1.411 trillion to the federal, state, and local governments as federation allocation for October 2024. The announcement was made during FAAC’s November meeting held in Bauchi, chaired by the Accountant General of the Federation, Dr. Mrs. Oluwatoyin S. Madein. The distributed funds were drawn from a gross revenue of…

The Director General, Securities and Exchange Commission, SEC, Dr Emomotimi Agama has disclosed that so far about N1.682 trillion has been raised by banks through e-offering in the bank recapitalization exercise. The Commission in a statement on Wednesday said Dr Agama made this disclosure on the sidelines of the recently held Chartered Institute of Stockbrokers Conference held in Ibadan, Oyo…

…OML 13 Asset Eyes 80,000 bpd by End of 2025 In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the Nigerian National Petroleum Company (NNPC) Limited. has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market. It would be recalled that in July 2024, NNPC…

A tanker has transported petrol from Nigeria’s new Dangote plant to waters off Togo, a sign to traders that the mega-refinery’s operations could soon potentially shake up regional fuel markets. The CL Jane Austen recently loaded more than 300,000 barrels from Dangote and sailed west, according to data from Vortexa, Kpler, Precise Intelligence, a port report, and ship-tracking data compiled…

As part of its commitment to deepen the growth and sustainability of micro, small and medium-scale enterprises (MSMEs) on the continent, United Bank for Africa (UBA) Plc, is set to host the last edition of its quarterly business series for the year.  This edition of the business series, “Profit with Purpose, Business  Continuity,” will be held on Thursday, November 21st…

The National Bureau of Statistics (NBS) has disclosed that the average retail price paid by consumers for Premium Motor Spirit (Petrol) for October 2024 was N1184.83. This is a 87.88 per cent increase compared to the N630.63 per litre recorded in October 2023 According to the report, comparing the average price value with the previous month, the average retail price…