Energy expert Dan Kunle has warned that the continued importation of petrol and diesel by the Nigerian National Petroleum Corporation (NNPC) Limited and certain marketers, despite the Dangote Petroleum Refinery’s capacity to meet domestic demand, is a disservice to the country. Recent reports indicate that NNPC, Oil Marketers Spent N5.5tn …
Read More »Chief Jubril Fatai: Bereaved Family Of Slain Lagos Baale Of Lotu Seeks Speedy Justice
The family of the Baale of the Lotu community in the Ibeju-Lekki Local Government Area, Chief Jubril Adebayo Fatai who was brutally killed in a land dispute, has expressed frustration over the prolonged delay in the trial of the suspects involved in the shooting. The family renewed their …
Read More »Stanbic IBTC Capital leads Presco PLC’s ₦82.9 Billion Bond Issuance to drive West African market growth
Presco PLC (Presco or the “Company”), has achieved a significant milestone with the successful issuance of its ₦82,896,000,000 7-year 23.75% senior unsecured fixed rate Series I Bonds under its ₦150 billion bond issuance programme (the “Transaction”) with the Securities and Exchange Commission (“SEC”). Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) acted as …
Read More »Rite Foods Partners NASRE Foundation to Support Ailing Journalists
Rite Foods Limited, a leading indigenous manufacturer in the Food & Beverages sector, has partnered the Noble Association of Social and Resourceful Editors(NASRE) Foundation to provide support for ailing journalists and widows of deceased media practitioners in the country . This collaboration comes as part of NASRE’s ongoing efforts to …
Read More »Court orders final forfeiture of N1.1bn, $392k, £35k from ex-banker
A Federal High Court sitting in Ikoyi, Lagos, has reported ordered the final forfeiture of funds totalling N1,168,602,877.44, $392,818.01, and £35,070, recovered from a former employee of First Bank of Nigeria, Muiz Tijani Adeyinka, to the Federal Government of Nigeria. According to a statement on Tuesday by the Economic and …
Read More »MFB Sues FCMB for Allowing Borrower to Withdraw N150m From Frozen Account
Cool Financial Services, a Lagos State-based microfinance bank, has sued First City Monument Bank (FCMB) for allowing Goewe and Sons Ltd., one of its borrowers, to withdraw a N150 million loan sum from an account with an active freezing instruction. Goewe and Sons Ltd. is a merchandise company owned by …
Read More »Dangote refinery exports two cargoes of jet fuel to Saudi Aramco in Saudi Arabia
… NESG says FG Must Support Domestic Industries to Achieve a $1 Trillion Economy Dangote Petroleum Refinery recently achieved a significant milestone by successfully exporting two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally. Saudi Aramco is the official Saudi Arabian Oil …
Read More »Stanbic IBTC Holdings PLC successfully launches its ₦148.7 Billion Rights Issue
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced the opening of its ₦148.7 billion Rights Issue. The Rights Issue, which opened on 15 January 2025, and closes on 21 February 2025, offers existing shareholders the opportunity to subscribe to 2,944,772,083 Ordinary Shares of 50 kobo each …
Read More »PSC’s order on police retirement transformative, fair, says Group
Insists Egbetokun’s tenure extension legal A socio-political group, the Citizens for Ethical Leadership & Law (CELL), has expressed support for the Police Service Commission’s (PSC) recent decision to retire senior police officers who have spent over 35 years in service or are above 60 years old, describing the move …
Read More »Stanbic IBTC Bank Nigeria PMI®: Business confidence jumps as growth sustained at start of 2025
The nascent growth in the Nigerian private sector seen at the end of 2024 was sustained into the first month of 2025, with new orders and business activity each continuing to rise. Moreover, there was a large improvement in business confidence while firms expanded employment, purchasing and inventories. Although input …
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