Israel-Iran: Global Oil Prices Surge Nearly 3% Following US Airstrikes
Global oil prices surged by over 2% after the United States conducted airstrikes on three…
Israel-Iran: Global Oil Prices Surge Nearly 3% Following US Airstrikes
Global oil prices surged by over 2% after the United States conducted airstrikes on three Iranian nuclear facilities. According to data from Oilprice.com, oil prices soared as trading began on Monday. As of 1:16 AM on Monday, Brent crude was priced at $78.99 per barrel, while West Texas Intermediate futures reached $75.81 per barrel, up…
SEC Implements Three-Year Cooling-Off Period for CEOs Transitioning to Chairman Roles
The Securities and Exchange Commission (SEC) has rolled out new governance measures aimed at strengthening corporate oversight and ensuring a clear separation of roles within Nigerian public companies. A significant aspect of these new regulations is the introduction of a three-year cooling-off period for Chief Executive Officers (CEOs) who wish to become Chairmen of the…
Petrol Marketers Raise Fuel Prices in Nigeria
Petroleum product marketers and filling station owners in Nigeria have raised the price of Premium Motor Spirit (PMS), It was gathered that several major filling stations in the Federal Capital Territory, Abuja, and found that members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have increased their fuel prices by N35 to N45 per…
Our Refinery Turns to US Crude Oil Imports Due to Domestic Supply Shortages – Dangote
Aliko Dangote, President of Dangote Group, has attributed the refinery’s growing dependence on crude oil imports from the United States to a decline in domestic crude supply. He made this statement during a visit from the Coordinator of the One-Stop-Shop for Naira-for-Crude and her team to the $20 billion Dangote Refinery on Thursday. Dangote praised…
Investors Gain N677 Billion as Nigerian Stock Market Maintains Uptrend
On Thursday, investors enjoyed a substantial gain of N677 billion as the Nigerian stock market continued its upward trajectory. Market capitalization rose by 0.92%, closing at N74.358 trillion, up from N73.681 trillion the previous day. Market data revealed that the All-Share Index (ASI) increased by 1,074.26 points, or 0.92%, reaching 117,861.13, compared to 116,786.87 on…
Nigeria Now Has 65 CNG Stations for Affordable Gas – PCNGI
The Nigerian government, through the Presidential Compressed Natural Gas Initiative (PCNGI), has announced the establishment of 65 CNG stations across the country. This initiative coincides with the launch of a new gas pricing framework aimed at making compressed natural gas more accessible and affordable for Nigerians. Michael Oluwagbemi, the Chief Executive of PCNGI, shared this…
Customers Suffer N180.5 Million Loss from UBA System Failure
Ajibola Olarinoye The United Bank for Africa (UBA Plc), is currently dealing with the fallout from a major system failure that led to unauthorized withdrawals exceeding ₦180.5 million from customer accounts,. As reported by Thewitnessngr.com, the bank, founded in 1961 and headed by Tony Elumelu, has initiated legal proceedings to recover the lost funds. This…
FIRS Introduces Weekend Tax Services to Alleviate Deadline Pressure
As the June 30 deadline for Companies Income Tax (CIT) filing approaches, the Federal Inland Revenue Service (FIRS) has announced extended weekend services. This initiative aims to provide businesses with additional time to meet their obligations as the deadline nears. From Saturday, June 14, to Sunday, June 29, 2025, FIRS offices nationwide will be open…
CBN Instructs Banks to Halt Dividend Payments to Foreign Subsidiaries
Ajibola Olarinoye The Central Bank of Nigeria (CBN) has instructed banks operating under regulatory forbearance to suspend dividend payments and bonuses to their foreign subsidiaries and ventures. This directive was communicated in a circular released on Friday by Olubukola Akinwunmi, the director of banking supervision at the CBN. The CBN stated that this action is…
CBN Extends Recapitalization Deadline for BDC Operators by Six Months
Ajibola Olarinoye The Central Bank of Nigeria (CBN) has announced a six-month extension for the recapitalization of Bureau De Change (BDC) operators, pushing the new deadline to December 31, 2025. This decision comes as the naira appreciates against the dollar in the foreign exchange markets, as reported by BDC operators in their group chat. However,…
