Pension Scheme Assets Hit N18.36tn, Increases by 22%
Data released by the National Pension Commission reveals that the total assets under the Contributory Pension Scheme soared to N18.36tn by the conclusion of 2023, reflecting a remarkable 22.43% surge.…
OPay Bolsters Security Measures to Combat Financial Fraud
Nigerian financial technology firm OPay has launched an array of security measures aimed at fortifying its platform against financial fraud, the company announced. The initiative is OPay’s commitment to enhancing…
Exit of Burkina Faso, Mali, and Niger Threatens ECOWAS Trade Relations
The potential withdrawal of Burkina Faso, Mali, and Niger Republic from the Economic Community of West African States (ECOWAS) poses a significant risk to the region’s $277.22bn trade with the…
Nigeria-Morocco Gas Pipeline: Minister Assures Uninterrupted Supply
Mr. Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has provided reassurance of uninterrupted supply to the Nigeria-Morocco gas pipeline project. The minister conveyed this commitment during a…
FG to Enforce Sanctions on Vessels Violating Maritime Regulations
During the arrival ceremony of the ‘CMA CGM Scandola’, the largest container vessel fueled by Liquefied Natural Gas, at Lekki Port, Lagos, Adegboyega Oyetola, the Minister of Maritime and Blue…
Dangote Refinery Plans to Import Crude from the US
In anticipation of potential supply disruptions that could jeopardize its operations, Dangote Refinery is preparing to import crude oil from the United States in the coming months. While the refinery…
Report Blames Nigeria’s Crude Oil Theft to Military Complicity
Transparency International (TI), in collaboration with the Civil Society Legislative Advocacy Centre (CISLAC), has released a damning report implicating Nigeria’s military in the thriving crude oil theft business. The report,…
N1.35tn Allocated to Government Tiers, Revenue Agencies Distribute N53.5bn to Others
The data released by the National Bureau of Statistics revealed that Nigeria’s key revenue agencies – Customs Service, Inland Revenue Service, and Petroleum Regulatory Commission – collectively distributed N53.5bn to…
Access Holdings Granted Approval for Consumer Lending Subsidiary
Access Holdings Company Plc has secured regulatory approval to establish a consumer lending subsidiary named Oxygen X Finance Company Limited. Access Holdings obtained approval in principle from the Central Bank…
Eterna PLC Becomes Official Distributor for Dangote Petroleum Refinery Products
Eterna PLC, a prominent integrated energy provider in Nigeria, has been appointed as an official domestic sales distributor for the newly launched products of Dangote Petroleum Refinery in Nigeria. The…
Coronation Insurance Shareholders Reviews Buyback Offer
In a recent court-ordered meeting held in Lagos, shareholders of Coronation Insurance Plc successfully negotiated a review of the buyback offer for their holdings, aiming for 78 Kobo per share.…
SEC Approves NASD’s Digital Securities Platform
The Securities and Exchange Commission (SEC) has granted approval for NASD Plc to launch its Digital Securities Platform (N-DSP), powered by Blockstation, under the Regulatory Incubation (RI) Programme. This development,…
Shell Agrees to Sell Onshore Oilfields at $2.4bn
International oil giant Shell has entered into an agreement to sell its onshore oilfields to a Nigerian-led consortium named Renaissance. The consortium, comprising five companies, including an international energy group,…
NGX Surpasses 90,000 All-Share Index Mark
On Wednesday, the Nigerian Exchange Limited (NGX) achieved an unprecedented milestone as the benchmark All-Share Index surged past the 90,000 mark. Trading involved 124 equities, resulting in 47 gainers and…
CBN Clears Forex Liabilities with $2 Billion
The Central Bank of Nigeria (CBN) announced on Wednesday that it has successfully disbursed approximately $2 billion across vital sectors, including manufacturing, aviation, and petroleum to eliminate the backlog of…
Access Bank Acquire 80% Stake in Finance Trust Bank Uganda
Finance Trust Bank (FTB) Uganda and Access Bank have officially signed a definitive agreement for Access Bank’s equity investment into FTB. Upon the successful closing of the transaction, Access Bank…
Nigeria’s Stock Market Emerges as World’s Best Surpassing Argentina
Following Wednesday’s positive close, Nigeria’s stock market has claimed the title of the world’s best, surpassing Argentina, a country it was trailing just last week. The Nigerian Exchange Limited (NGX)…
Nigeria Takes Center Stage at Saudi Arabia’s Future Minerals Forum
Nigeria showcased its prominence at the third edition of Saudi Arabia’s Future Minerals Forum (FMF). The conference, attended by over 80 nations, focuses on creating resilient and responsible mineral value…
Dangote Refinery: Investors Gain Over 1.2tn in One Week
Equity investors in Dangote Group stocks are celebrating a significant gain of over 1.2tn in just the first two trading sessions of this week. This surge in stock value is…
Royal Court Orders a Return of £6.9m Stolen Assets to Nigeria
A Jersey Royal Court in the United States has ruled that assets worth £6.9m ($8.9m) be returned to Nigeria. The funds, allegedly diverted by Nigerian government officials in 2014 under…
OPay Reflects on Achievements
Leading fintech company, OPay, has unveiled its achievements from the year 2023 and announced plans for improvements in security, customer service, and corporate social responsibility in the upcoming year. The…
Include Forex Trading in NYSC Curriculum- Experts
Foreign exchange experts have urged the Federal Government to integrate forex trading, risk, and financial management into the curriculum of the National Youth Service Corps’ (NYSC) Skills Acquisition and Entrepreneurship…
AGF, Vista $50m Loan to Boost SMEs in West Africa
The African Guarantee Fund (AGF) has partnered with Vista Group Holding to enhance access to finance for small and medium-sized enterprises (SMEs), with a specific focus on women-led businesses. This…
Nigerian Exchange Limited Sets New Records; Investors gain 1.2tn
The Nigerian Exchange Limited achieved milestones at the close of trading on Tuesday, witnessing the benchmark All-Share Index rise by 3.93% to an all-time high of 87,971.09 points. Simultaneously, the…
Customs to End Physical Cargo Examination at Port
Nigerian Ministries and Customs Embrace Technology, sIn a joint effort to enhance efficiency at the country’s ports, the Ministries of Transportation and Marine and Blue Economy, along with Nigerian Customs,…
Nigerian Railway Corporation Initiates Reactivation of Old Routes
The Nigerian Railway Corporation (NRC) has initiated the reactivation of old narrow gauge networks, with a focus on the Eastern line, currently in an advanced stage of preparation to resume…
African Airlines Report 22.1% Increase in Demand
African airlines experienced a significant 22.1% increase in Revenue Passenger Kilometers in November 2023 compared to the same period the previous year, as reported by the International Air Transport Association.…
Nigeria Customs Service Anticipates Salary Review
The Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, revealed on Tuesday that the service is due for a salary review. Adeniyi, speaking in an interview with Arise TV,…
NIDF Reports 97.99% Growth in Profit
Debt Fund (NIDF) has witnessed a remarkable 97.99% growth in Profit After Tax, reaching N20.380bn at the end of 2023, compared to N10.293bn in 2022. The information was disclosed in…