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Banking

Adesola Adeduntan steps down as First Bank CEO

The Managing Director of First Bank Nigeria Limited, Dr. Adesola Kazeem Adeduntan, has resigned from the bank after leading the institution for three terms. This was disclosed in a letter addressed to the bank’s board chairman, Tunde Hassan-Odukale titled, according to Thisday. Adeduntan’s tenure ought to elapse on December 31 2024, but the Bank CEO […]

News

EU proposes road network to mitigate smuggling in Nigeria, others

The European Union (EU) has called on Nigeria and nine other neighboring African countries to initiate road networks across specific zones to curb smuggling activities in the region under the Gateway Corridor project. This was disclosed in a statement by the Nigerian Customs Service via a post on its official X handle on Friday. The […]

Economy

FG, states, LGAs share N1.123trn in March

Alex Omenye The Federation Account Allocation Committee has disclosed the distribution of N1.123 trillion to various levels of government in March 2024, sourced from diverse revenue streams including statutory allocations, value-added tax, and electronic money transfer levies. In a statement from the Office of the Accountant General, signed by Director Bawa Mokwa, it was revealed […]

Dangote Refinery loses N32.5bn after petrol price cut
Oil and Gas

Price slash: Dangote denies ‘mischievous’ high sulphur diesel narrative

The Management of Dangote Industries Limited has denied the online report on the sulphur content of its diesel supplied to the Nigerian market by S&P Global. The Dangote Group stated that its refinery was built to produce the highest quality petroleum products which comply with very stringent international standards, describing these allegations as unfounded, baseless, […]

News

AIICO Board approves audited financial statement for 2023

The Board of Directors of AIICO Insurance Plcs announced the approval of the Group’s Audited Financial Statement for the period ended December 31, 2023. This was disclosed in a notice filed by the Company Secretary, Donald KANU with the Nigerian Exchange Limited on Friday. This follows the recent announcement to the investing public and NGX […]

News

Customs pledges support for Nigeria-made vehicles

Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, has pledged his support for locally produced vehicles and said that such an initiative would help boost economic growth. This follows a test drive to one of the factories for made-in-Nigeria vehicles. This disclosure was made on NCS’s official X account on Friday. Adeniyi said, “This […]

Oil and Gas

NNPC, firm target 20,000bpd at Bayelsa oil field

The Nigerian National Petroleum Company Limited has announced the commencement of oil production from Madu Field. This was disclosed in a statement signed by the Chief Corporate Communications Officer, Olufemi Soneye on Friday via its X handle. The Nigerian National Petroleum Company Limited and its Joint Venture partner First Exploration and Petroleum Development Company Limited, […]

Tesla recalls Cybertrucks over pedal issue
News

Tesla recalls Cybertrucks over pedal issue

Tesla has initiated a recall affecting 3,878 units of its 2024 Cybertruck model due to a potential issue with the accelerator pedal. The concern arose when it was found that the accelerator pedal might become lodged, leading to inadvertent acceleration and a heightened risk of accidents. According to a report filed with the National Highway […]

World Bank approves $1.08bn to improve health, education
News

World Bank pledges health services to 1.5bn people by 2030

The World Bank Group has unveiled an ambitious initiative aimed at ensuring that no fewer than 1.5 billion people worldwide have access to quality and affordable health services by the year 2030. This initiative forms a vital component of a broader global endeavor dedicated to securing a fundamental standard of care across all stages of […]

CAC denies irregular recruitment
News

CAC denies charging companies for tax IDs

The Corporate Affairs Commission has denied the reports that its agency demands payment from companies for their Tax Identification Number. This was disclosed in a circular signed by the management on Friday via their X handle. The commission said it identified a bulk of emails that did not come from CAC, targeting directors of newly […]

US SEC approves ETFs to track Bitcoin
Crypto

Bitcoin temporarily dips below $60,000 amid Israel-Iran conflict

Bitcoin witnessed a temporary dip below $60,000 on Friday morning following the news that Israel had launched retaliatory missile strikes against Iran in response to Iran’s recent foiled attack when it fired missiles toward Israel as tension increased between both countries. BeinCrypto reports that a senior US official confirms Israel’s strikes, which resulted in the […]

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