Renowned lawyer Femi Falana has urged the Federal Government to make it compulsory for the Nigerian National Corporation (NNPC) to return unremitted money between 2010 and 2014 and another N94 trillion oil money held by oil operators. The lawyer stated that the explanation of the NNPC that there was no money to remit into the federation account next month is ...

The Central Bank of Nigeria (CBN) has sacked some key board members of First Bank Nigeria (FBN) and First Bank of Nigeria Holding Plc. Among those affected are chairmen of the twi entities Mr. Oba Otudeko of FBN Holdings and Mrs Ibukun Awosika of FBN. The CBN, in a swift sanction, appointed replacements for all those sacked on Thursday. Addressing ...

The apex bank,the Central Bank of Nigeria (CBN) has queried the Board of First Bank Ltd, for the removal of its CEO. The Board of Directors of the bank  had appointed Gbenga Shobo as its Managing Director/Chief Executive Officer (CEO). The announcement was made in a statement made by the bank’s Chairman, Ibukun Awosika. A letter from the apex bank ...

Airtel has announced Olusegun Ogunsanya, Managing Director and Chief Executive Officer Airtel Nigeria as Managing Director and CEO of its Africa subsidiary. Ogunsanya will succeed Raghunath Mandava who will retire from his post and as director on Airtel Africa PLC’s board on 30 September. Ogunsanya will take charge on 1 October and will join Airtel Africa’s board. Before his appointment ...

In 19 straight months of not processing any barrel of crude oil, the government-owned refineries in Nigeria recorded a total loss of N177.21bn, the latest data from the Nigerian National Petroleum Corporation have shown. An analysis of data collated from NNPC’s monthly reports revealed that all the refineries did not refine crude oil from July 2019 to January 2021. The ...

The Federal Government through the ederal Executive Council (FEC) has approved the National Poverty Reduction with Growth Strategy (NPRGS) prepared by the Presidential Economic Advisory Council (PEAC). The disclosure was made to the State House Correspondents by the Special Adviser to President Muhammadu Buhari on Media and Publicity, Femi Adesina on Wednesday. Adeshina noted that  the Steering Committee on NPRGS ...

The Managing Director/ Chief Executive is the most senior executive position in the company, charged with the responsibility of piloting the firm’s affairs and ensuring profitability and growth. CEOs are the ones at the helms of affairs and therefore, receive criticisms for poor performances as well as credit for stellar company performances. The CEOs of the major companies are remunerated ...

The Minister of Science and Technology, Dr Ogbonnaya Onu has said that btumen reserves in the country have grown to about 42 billion barrels. He added that out of this,  43 industrial chemicals, including heavy crude petroleum, can be obtained. Acccording to him,  despite the level of reserves, the country spends so much on the import of bitumen for road ...

The Central Bank Governor, Godwin Emefiele has explained why tertiary institutions in Nigeria to promote research. Acccording to him, the move is necessary to boost agriculture in Nigeria. The Governor said this during a lecture on “Jump-Starting Agricultural Revolution: The CBN Experience” in Makurdi. He said the universities have a responsibility to promote research to enhance yields per hectare by ...

Wema Bank Plc has published its audited results for year ended December 31, 2020. The content of the report shows that the bank recorded vier N1trillion balance sheet size. The update was given by the Chief Finance Officer of the bank, Tunde Mabawonku. Acccording to him,v the bank overcame the disruptions of the 2020 financial year by focusing on safe ...