The Nigerian National Petroleum Corporation (NNPC) Limited has welcomed the decision of the President Ahmed Bola Tinubu-controlled Federal Government to remove fuel subsidy. In a press conference in Abuja on Monday, Mele Kyari, the Group Chief Executive Officer (GCEO) of the corporation charged with harnessing Nigeria’s oil and gas reserves, said the corporation was pleased with the decision of President ...

The Managing Director, Chief Executive, May & Baker Nigeria, Pharm Patrick Ajah, has decried the scarcity of foreign exchange (Forex) and multiple duties in the economy, saying that they are hurting the manufacturing sector. Speaking at the company’s Customers’ Forum in Lagos, Ajah called on the government to urgently address these challenges and other unfriendly policies affecting ease of doing ...

The United Bank for Africa (UBA) has in the last few years, committed $1 billion to infrastructure financing in Africa economies where it operates, Executive Director/Chief Executive Officer, UBA Africa, Abiola Bawuah has said. Speaking  at a hybrid media parley in Lagos, she said the bank has invested heavily and supported key governments of various African countries with over $1 ...

The Central Bank of Nigeria has opened up on why it raised the Monetary Policy Rate, also known as the interest rate, to 18.5 per cent from 18 per cent. In a communique from the 291st Monetary Policy Committee meeting posted on CBN’s website on Wednesday, the Governor of the apex bank, Godwin Emefiele, stated that its investigation and research ...

The Chartered Institute of Taxation of Nigeria (CITN) has identified weak institutions and poor leadership as major factors responsible for rising cases of tax fraud in the country. The President and Chairman of CITN, CITN,Adesina Adedayo stated this while delivering a keynote speech at its 2023 yearly seminar for the Society of Women in Taxation (SWIT) in Abuja. Adedayo said: ...

The Chairman of Dangote Group, Alhaji Aliko Dangote, has assured Nigerians that the first petrol from the Dangote refinery will hit the Nigerian market by end of July/ beginning of August 2023. Dangote gave the assurance in his remarks at the official inauguration of the 650,000 barrels per day refinery complex in Ibeju-Lekki, Monday. He said the facility has a ...

The management of Nigerian Breweries Plc, has said the bond between Amstel Malta and Zagg Energy drink and consumers, is the reason the two brands threw their weight behind the Ninth Africa Magic Viewers’ Choice Awards (AMVCAs). According to a statement by the breweries giant, the premium malt drink, Amstel Malta, and Zagg, a blend of Energy and Malt flavour, ...

Nigeria’s banking sector assets rose by 25.34 percent (N9.98 trillion) between the end of February 2022 and 2023, driven largely by balances with the Central Bank of Nigeria (CBN)/banks, FGN bonds, Treasury Bills and credit, according to members of the Monetary Policy Committee (MPC) in their personal statement at the last meeting in March, 2023. The industry’s total assets rose ...

The Founder and Chairman of the First City Monument Bank (FCMB), Otunba Michael Subomi Balogun is dead. Entrepreneurtv.ng gathered that the FCMB Chairman died in London at the age of 89 years after a brief sickness. As of the time of filing this report, the cause of his death is yet unknown. More to come..

The notion that the continuous application of the Unstructured Supplementary Service Data (USSD) in transferring funds would deepen the cashless policy being pursued by the Central Bank of Nigeria (CBN) is not correct, the Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO), Segun Agbaje, has said. Agbaje, who spoke  in Lagos while presenting GTCO’s financials to the media, said ...