Business

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd). The Chief Corporate Communications Officer, NNPC Ltd, Mr. Olufemi Soneye in a statement on Thursday said the feat was achieved in compliance with the mandate of President Bola…

Access Holdings Plc on Thursday announced that its banking group’s, subsidiary The Access Bank UK Limited (Access UK) has entered into a binding agreement to acquire a majority equity stake in Afrasia Bank Limited (Afrasia Bank), the Republic of Mauritius’ fourth largest bank by total assets. Company Secretary, Access Holdings, Sunday Ekwochi in a statement on the Nigerian Exchange Limited…

…Abdullahi, Ntia as EVP, Downstream, Upstream respectively The Nigeria National Petroleum Company Limited (NNPCL) has sacked Umar Ajiya, the Chief Financial Officer (CFO), and appointed Mr Adedapo A. Segun to replace him as the CFO. Mr Segun has held the position of Executive Vice President for Downstream, where he played a crucial role in enhancing the company’s downstream operations. NNPCL…

…10-year deal to boost local production, revamp industrial growth The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, has successfully executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE. Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye in a statement obtained by WESTERN POST stated that the…

Multichoice Group, the South African Pay-TV operator, has revealed that its Nigerian unit, Multichoice Nigeria lost 243,000 subscribers across its DStv and GOtv services in the six months covering April to September this year. The Group disclosed this in its Interim Financial Results for the six months ended September 2024. According to the company, the high inflation in Nigeria at…

United Bank for Africa (UBA) Plc, has collaborated with Mastercard to launch a commemorative debit card in celebration of UBA’s 75th anniversary.  This collaboration aims to honor UBA’s long-standing customer relationships and enhance their banking experience with a range of offers and discounts across multiple platforms.  UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who spoke at the unveiling, highlighted…

The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Tuesday stated that financial inclusion has the potential to unlock significant economic growth, particularly through the empowerment of small and medium-sized enterprises (SMEs), women and other vulnerable segments of the population. Speaking at the 2024 International Financial Inclusion Conference with Theme: Inclusive Growth—Harnessing Financial Inclusion for Economic Development, he…

Trading activities on the equities market on Tuesday closed negative, as investors profit-taking in Nestle Nigeria and 28 others pulled the market capitalisation lower by N69 billion. The Nigerian Exchange Limited All-Share Index (NGX ASI) lost 113.55 basis points or 0.12 per cent to close at 97,260.39 basis points. Also, market capitalisation declined by N69 billion to close at N58.935…

…Owanari Duke Retires from Group Board United Bank for Africa (UBA) Plc, has announced the appointment of Henrietta Ngozi Ugboh as a Non-Executive Director on the Group’s Board. The appointment has been duly approved by the relevant regulatory bodies including the Central Bank of Nigeria (CBN) whose approval was granted last Friday. UBA’s Group Chairman, Tony Elumelu, who commented on…

The Group Chief Executive Officer, Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari has refuted allegations suggesting that the company was unwilling to sell crude oil to Dangote in naira as part of a scheme to undermine the refinery. The Federal Government on October 1, 2024 officially commenced the sales of crude oil and refined petroleum products in naira, the…