Business

The Nigeria Deposit Insurance Corporation (NDIC) has declared a second liquidation dividend of N24.3 billion for depositors of the defunct Heritage Bank Ltd., following continued recovery of the bank’s assets. The Central Bank of Nigeria (CBN) had revoked the banking licence of Heritage Bank on June 3, 2024, after which …

The federal government is expected to sign a formal agreement with the Academic Staff Union of Universities (ASUU) after weeks of negotiations. The development follows the government’s proposed 40 per cent salary increase for academic staff last month, which the union accepted. A circular from the Ministry of Education invited …

  The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced strong opposition to the continued importation of Premium Motor Spirit (PMS) into the country. The association also distanced itself from reports suggesting that the surge in petrol imports in November 2025 was linked to a breakdown in supply arrangements …

The Chairman of Dangote Industries Limited (DIL), Aliko Dangote, through his legal representative, has filed a formal corruption petition against former Managing Director of the Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, at the headquarters of the Economic and Financial Crimes Commission (EFCC). This move follows the withdrawal of …

Unity Bank Plc has disbursed over N270 million in grants to young Nigerian entrepreneurs under its Youth Entrepreneurship Development Initiative: Corpreneurship Challenge, bringing the total number of beneficiaries since inception in 2019 to 608 corps members nationwide. The initiative, implemented in partnership with the National Youth Service Corps (NYSC) through …

Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, is pleased to announce that Agusto & Co. has upgraded its credit ratings for the 2025–2026 financial year. The Company has been assigned a Long-Term Rating of A and a Short-Term Rating of A1, both with a Stable Outlook. This upgrade …

  Wema Bank is once again redefining the future of banking with the upgraded version of ALAT scheduled to go live in January, 2026. Tagged ALAT: The Evolution, the upgraded version of ALAT will once again set the standard on the next chapter in the banking industry. With ALAT: The …

SIFAX Group has opened the 2026 business year with a strong declaration of intent, unveiling an innovation-driven growth plan aimed at strengthening operations, deepening technology adoption, and expanding its footprint across West Africa. The Chairman of the Group, Dr. Taiwo Afolabi, made this known in his New Year message to …

-Shareholders commit to future injection of more capital to the Groups’ other subsidiaries First HoldCo Plc (“FirstHoldCo” or “the Group”) has announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion. This milestone was …

… Reaffirms N699 Gantry Price as Marketers Lift Over 48 million Litres on Sunday …Blasts Fuel Importers for Spreading Falsehoods and Exploiting Nigerians Dangote Petroleum Refinery has categorically rejected a circulating report claiming the refinery is shutting down for maintenance, describing the story as false and misleading. In a statement …