Business

The Nigeria Deposit Insurance Corporation (NDIC) disclosed on Sunday that it has clleared 82.36 per cent of the total insured deposit in Heritage Bank Limited. The Corporation in a statement revealed that those not settled  the remaining 17.64per cent of the insured deposits yet to be paid were largely depositors whose accounts have post no debits (PND) instructions or have…

Management of Dangote Petroleum Refinery has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to enforce the domestic crude supply obligation as specified in the Petroleum Industry Act (PIA), insisting that refineries in Nigeria should be allowed to buy crude directly from the companies that produce it in Nigeria rather than from international middlemen, as enshrined in the PIA act.…

The Chairman, United Bank for Africa (UBA), Mr. Tony Elumelu has called on the  Federal Government government and security agents to disclose to Nigerians those stealing crude oil, especially using vessels that move through the territorial waters. Elumelu stated this in an interview published by the Financial Times on Friday. Elumelu who dreads oil theft said the menace contributed to…

Indications are rife that some lessors have concluded arrangements to resume dry lease offering to Nigerian carriers, following the renewed negotiations initiated by the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo. The development, which has raised the hopes of many Nigerian carriers, is coming after several years of truncating such service due to disagreement that emanated from trust…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to amend the Domestic Crude Supply Obligations (DCSO) Regulations 2023 and review the National Data Repository Regulations. The commission made this known in a notice signed by its Chief Executive, Gbenga Komolafe, on Thursday, inviting stakeholders to provide input on the proposed changes. “In accordance with Section 216 (1) of…

The Management of Dangote Petroleum Refinery has insisted that it is not yet getting enough crude required for the effective optimization of its refinery from the Nigerian National Petroleum Corporation Limited (NNP). The Refinery Management, in a release signed by, Group Chief, Branding and Communications Officer, Anthony Chiejina revealed that, “we therefore still insist that we are unable to secure…

Arik Air has officially resumed flight operations today, marking a return to the skies after a temporary suspension. The airline, known for its commitment to customer comfort and reliability, has been working diligently during the pause to ensure a seamless and enhanced travel experience for passengers. In a statement released by Captain Roy Ilegbodu, Chief Executive Officer of Arik Air,…

A week after Arik Air’s planes were grounded, the Federal Government has lifted the suspension on the operations of the airlines. The Director of Public Affairs and Consumer Protection at the Nigerian Civil Aviation Authority (NCAA), Michael Achimugu, disclosed this in a Wednesday statement on X. He said the dispute between Atlas Petroleum and Arik Air which necessitated the grounding…

Investors are scrambling for shares of Fidelity Bank Plc as the leading commercial bank’s capital raising continues to gather momentum among all categories of investors. Investors’ appetite for Fidelity Bank is shown in massive subscriptions to its ongoing rights and public offers and voluminous trading at the stock market. Current weekly report shows that Fidelity Bank was the most active…

The Nigeria Civil Aviation Authority (NCAA) has commenced a two-day training program for its Consumer Protection Officers (CPOs) and airline staff representatives in preparation for the launch of a new consumer protection portal. The portal is set to revolutionize the handling of real-time passenger complaints against airlines in Nigeria. The training, which began on Wednesday at the NCAA corporate headquarters…