Business

The Airline Operators of Nigeria (AON) has expressed its gratitude to President Bola Ahmed Tinubu for reappointing Festus Keyamo (SAN) as the Minister of Aviation and Aerospace Development. In a statement released by AON President, Alhaji Abdulmunaf Yunusa Sarina, the association praised the president’s decision, noting it reflects Tinubu’s commitment to the continued growth and advancement of Nigeria’s aviation industry.…

The minister of finance and coordinating minister of the economy, Wale Edun has disclosed that the Nigerian National Petroleum Company (NNPC) Limited has commenced the process of paying the $6 billion debt owed to suppliers. Edun spoke on Wednesday during an engagement with investors in Washington DC. The global investors’ forum was held on the sidelines of the 2024 annual…

The Democratic Front (TDF) has described the monetary policy of the Central Bank of Nigeria (CBN) under Olayemi Cardoso as one that is yielding positive results. In a statement signed by its Chairman, Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, TDF noted that Cardoso’s policies were targeted at redressing missteps of his predecessor. It said:  “We commend efforts made…

Ecobank Nigeria has awarded N16 million in cash rewards to customers since the launch of its Super Rewards Millionaire Geng Promo in July 2024. Mr. Otega Odjegba, the Regional Head of Ecobank’s Apapa-Isolo Region, shared this information during a recent monthly and quarterly raffle draw held in Lagos. This six-month campaign, which will run until December 31, 2024, aims to…

The International Monetary Fund (IMF) has attributed the naira, Nigeria’s local currency, stability over Monetary Policy Rate (MPR) or interest rate hikes by Central Bank of Nigeria (CBN). In its global financial stability report launched during a press briefing in Washington DC on Tuesday, the IMF also linked the currency’s stability to the clearing of the foreign exchange backlog by…

The management of Dangote Petroleum Refinery has revealed plans to withdraw court cases against Nigeria National Petroleum Corporation Limited (NNPC), Matrix Petroleum Services Limited, A. A. Rano Limited, and four other companies for the purpose of importing refined petroleum products that are already being produced by refinery come January 2025. Dangote Petroleum Refinery and Petrochemicals FZE in June 2024 asked…

Dangote Petroleum Refinery and Petrochemicals FZE have asked the Federal High Court in Abuja to void import licenses issued to the Nigeria National Petroleum Corporation Limited (NNPC), Matrix Petroleum Services Limited, A. A. Rano Limited, and four other companies for the purpose of importing refined petroleum products that are already being produced by Dangote without shortfalls. In suit number FHC/ABJ/CS/1324/2024,…

Transcorp Hotels Plc on Monday announced its third quarter (Q3) ended September 2024 results with a strong performance of 67per cent revenue growth from N28.97 billion in Q3 2023 to N48.49 billion in Q3 2024. The hospitality subsidiary of Transcorp Group declared a 192per cent increase in profit before tax from N5.64 billion in Q3 2023 to N16.44 billion in…

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has expressed the need for stakeholders to adapt  regulatory frameworks to align with the evolving Financial Action Task Force (FATF) standards saying that failure to do so would not only jeopardize the integrity of the capital markets, but also pose a risk to Nigeria and the global…

United Bank for Africa (UBA) Plc, has announced its unaudited results for the third quarter ended September 30, 2024, where it recorded strong and impressive growth across all its key indicators. As in the first two quarters of the current fiscal year, the bank’s gross earnings grew significantly by 83.2 per cent to N2.398 trillion up from N1.308 trillion recorded…