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The Airlines Operators of Nigeria (AON) has described the Dangote Petroleum Refinery and Petrochemicals as a critical pillar of support for Nigeria’s aviation industry, disclosing that the refinery currently supplies over 95 per cent of the Jet A1 fuel consumed nationwide, while also exporting 1.1 billion litres of aviation fuel to Europe between March and ...
…celebrates British Airways 90yrs service to Nigeria President Bola Ahmed Tinubu has cited the resolution of long-standing financial liabilities owed to international airlines as an early milestone of his administration. Speaking when he received a delegation from British Airways led by the British High Commissioner to Nigeria, Dr Richard Montgomery and the Commercial Officer of ...
By Damilare Adeleye Wema Bank Plc has announced its plans to pay shareholders a final dividend of N1.25 per ordinary share for the 2025 financial year. This was disclosed in a notice filed on Nigerian Exchange Limited on April 22, 2026, and signed by Company Secretary, Johnson Lebile. The first-generation bank also set April 29, ...
By Damilare Adeleye The Central Bank of Nigeria and the Nigerian Communications Commission have signed a Memorandum of Understanding (MoU) aimed at strengthening consumer protection and tackling fraud linked to mobile phone usage within Nigeria’s digital ecosystem. The agreement, signed on Monday, April 20, establishes a formal framework for collaboration between both regulators, focusing on ...
By Damilare Adeleye Seplat Energy Plc has announced plans to hold its 13th Annual General Meeting virtually on Wednesday, May 20, 2026. This was just as shareholders are expected to consider a final dividend for the 2025 financial year and ratify the appointment of the chairman of Heirs Holdings, Tony Elumelu, as non-executive director. This ...
By Damilare Adeleye The Governor of Central Bank of Nigeria, Olayemi Cardoso, has stated that the reforms implemented by the apex bank helped ameliorate the impact of global economic shocks on Nigerians. This was just as he asserted that if the reforms were not implemented, the country could have been facing more severe hardship. Cardoso ...
Stanbic IBTC Holdings PLC has released its audited financial statements for the year ended December 31, 2025, revealing a historic performance that saw the Group cross the trillion-naira revenue threshold for the first time. Acording to the reuslts made available on the NGX website, Gross earnings surged to N1.14 trillion representing a significant expansion from ...
By Damilare Adeleye First HoldCo Plc has announced plans to hold a meeting of its Board of Directors on April 29, 2026, to consider its unaudited financial statements for the first quarter ended March 31, 2026. In a notice posted on the Nigerian Exchange Limited, the Group Company Secretary, Abiola Baruwa, said the board session ...
By Damilare Adeleye The federal government has dismissed claims that a significant portion of Nigeria’s federation revenue is being diverted or concealed, describing such interpretations of the World Bank’s latest Nigeria Development Update as misleading and inaccurate. In a statement issued on Saturday via his X account, former presidential candidate of Labour Party, Peter Obi, ...
By Fredrick Ameh Iran’s Deputy Foreign Minister, Saeed Khatibzadeh, has criticized Donald Trump for what he described as contradictory and inconsistent rhetoric as diplomatic tensions between the two nations continue to escalate. Speaking on Saturday, April 18, 2026, on the sidelines of a major diplomatic forum in Antalya, Turkey, Khatibzadeh dismissed recent claims by the ...
By Damilare Adeleye Transcorp Hotels Plc has announced that its Board of Directors will meet on April 23, 2026, to consider and approve the company’s unaudited financial statements for the first quarter ended March 31, 2026. In a notice dated April 16, 2026, and signed by the Group Company Secretary, Atinuke Kolade, the hospitality firm ...
By Damilare Adeleye Africa’s richest man, Aliko Dangote, has warned that surging global oil prices, linked to tensions and disruptions around the Strait of Hormuz, could cripple key sectors across the continent, particularly aviation and agriculture. Speaking on Thursday during an interview with Semafor World Economy in Washington, DC, Dangote said the sharp volatility in ...
By Fredrick Ameh The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has held a strategic meeting with the Secretary-General of the Islamic Financial Services Board (IFSB), Ghiath Shabsigh, on the sidelines of the IMF and World Bank Spring Meetings in Washington, D.C. The high-level engagement focused on deepening collaboration between Nigeria and ...
By Fredrick Ameh The Nigerian Export Promotion Council (NEPC) has intensified efforts to position Small and Medium Enterprises (SMEs) at the forefront of Nigeria’s non-oil export growth by leveraging the ECOWAS Trade Liberalisation Scheme (ETLS). At a stakeholders’ workshop in Lagos, Benedict Itegbe, representing NEPC CEO Nonye Ayeni, highlighted the need for greater SME participation ...
By Damilare Adeleye The Nigeria Deposit Insurance Corporation (NDIC) has commenced the final process of winding down 89 defunct Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) across the country following their acquisition by new owners. In a statement released on Wednesday, the Corporation disclosed that the affected institutions were among the 183 banks comprising ...
Renowned African industrialist and philanthropist, Aliko Dangote, has been named among TIME Magazine’s 100 Most Influential People in the World for 2026, reaffirming his standing as one of the most successful and iconic business leaders of his generation. Dangote joins global influential figures from multiple sectors, including political leaders such as U.S. President Donald Trump, ...
By Damilare Adeleye The International Monetary Fund (IMF) has raised an alarm over the precarious state of global public finances, warning that a cycle of repeated economic shocks has severely depleted the fiscal space available to governments worldwide. The IMF Managing Director, Kristalina Georgieva, speaking at the IMF-World Bank Spring Meetings in Washington, D.C., stressed that ...
The Central Bank of Nigeria (CBN) has successfully raised ₦2.2 trillion through the sale of Open Market Operation (OMO) bills, a strategic move aimed at mopping up excess liquidity within the financial system and refinancing maturing obligations. This intervention comes as the banking system opened the week in a robust surplus position of ₦4.97 trillion, ...
By Fredrick Ameh The Nigerian Content Development and Monitoring Board (NCDMB) and Seplat Energy Plc are finalizing plans to launch a Centre of Excellence in Gas Development at Delta State University (DELSU). The initiative is a strategic move to deepen research and local capacity within Nigeria’s oil and gas sector. The project, developed from a ...
The Central Bank of Nigeria (CBN) has dismissed viral reports alleging that Polaris Bank is undergoing a liquidation process, describing the claims as false and misleading. The apex bank’s reaction follows a social media post that suggested the bank had failed to meet the national recapitalization requirements and was set to have its operating license ...
Akwa Ibom State Governor, Pastor Umo Eno, has reaffirmed his administration’s unwavering commitment to the actualization of the Ibom Deep Seaport project, expressing strong confidence that the decades-long initiative is finally nearing fruition.Speaking at the Banquet Hall of Government House in Uyo on Wednesday, the Governor received the project's comprehensive feasibility report from the Technical ...
The Federal Government has inaugurated a Gas-to-Power Monitoring Committee as a decisive move to address the persistent gas supply shortages currently crippling electricity generation across the country. Speaking at the inauguration in Abuja on Thursday, the Minister of Power, Chief Adebayo Adelabu, described the initiative as a critical intervention in the Nigerian Electricity Supply Industry ...
By Ejire Folakunmi The African Export-Import Bank has reported robust financial results for the year ended December 31, 2025, with its total assets and contingencies rising by 21 per cent to $48.5 billion, up from $40.1 billion recorded in the previous year. The bank disclosed this in a statement released from Cairo on April 9, ...
