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Access Bank nears final stages of National Bank of Kenya acquisition
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Access Bank secures license to establish operations in Namibia

Access Bank has received a provisional license from regulatory authorities in Namibia to set up a bank in the Southern African nation. The announcement was made in a statement to the Nigerian Stock Exchange, signed by the bank’s Head of Media Relations, Olakunle Aderinokun on Monday. Access Bank emphasized that its commercial banking operations in […]

News

NNPC dividends to FG drop from $11.9bn to $1.83bn – Report

Dividends from the Nigerian National Petroleum Company Limited to the federation account have sharply declined from $11.9 billion to $1. 83 billion following the full implementation of the Petroleum Industry Act. This significant drop is highlighted in the latest Agora Policy Report, which examines the PIA’s impact on the federation’s revenue from 2021, the year […]

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FG’s deep-water investment plan faces mixed reactions amid $82bn exodus

In a bid to revitalise the struggling oil and gas sector, the federal government has approved a comprehensive tax relief package aimed at attracting investment in deep-water operations. This initiative comes as the industry faces challenges from underinvestment, declining crude oil production, and the ongoing exit of international oil companies, according to Nairametrics. Recent data […]

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Nigeria’s debt servicing hits N6.04tn in H1 2024 – CBN

Nigeria’s debt servicing expenses surged to N6.04 trillion in the first half of 2024, a 68.8% increase from N3.58 trillion in the same period of 2023, according to the Central Bank of Nigeria. This spending is approximately three times the N2.32 trillion allocated for personnel costs, which rose by 17.6% from N1.97 trillion the previous […]

POS transactions reduce by N226bn as currency circulation increases
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PoS transactions reach N6.23tn in July 2024 – Report

Point of Sale transactions in Nigeria totaled N6.23 trillion from January to July 2024, according to data from the Nigeria Inter-Bank Settlement System. This figure represents a 7.4 percent decline compared to the N6.79 trillion recorded in the same period in 2023, highlighting shifts in consumer behaviour and spending patterns. The NIBSS data reveals a […]

Why Nigeria needs 33,000MW for stable power supply – DisCos
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DisCos generates N887bn in revenue amid tariff hike

Nigeria’s electricity distribution companies have generated a total of N887.86 billion in revenue during the first seven months of 2024, driven by a tariff increase for Band A customers and enhanced revenue collection efforts, according to The Punch. Despite ongoing consumer complaints about poor power supply and high tariffs, the 11 Discos reported a significant […]

News

Naira-for-crude: Three refineries set to begin petrol production

The Nigerian National Petroleum Company Limited is set to begin supplying crude oil in naira to the Dangote Petroleum Refinery this week, as part of the Federal Government’s naira-for-crude initiative. Also, three more refineries are preparing to start producing petrol: the Aradel refinery in Rivers State (11,000 barrels per day), the Clairgold refinery in Delta […]

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Nigeria, Turkey set to boost bilateral relations

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, along with the Nigeria Türkiye Business Council, has committed to enhancing bilateral relations between Nigeria and Turkey. During the inauguration of the Independent Industrialists and Businessmen Association at the Turkish Embassy in Abuja, participants emphasized the importance of increasing investments in both countries’ security […]

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Oil marketers urge FG for clarity on Naira-for-Crude initiative

Oil marketers and domestic refiners are calling on the Federal Government to provide detailed information regarding the recently announced naira-for-crude initiative, which officially began on October 1, 2024. This initiative, as outlined by the Ministry of Finance, allows for the sale of crude oil and refined products in naira, following a directive from the Federal […]

Google adds seamless account switching to Chrome on iOS
News

Google expands gmail Q&A feature to iPhones

A few months ago, Google launched a new feature for Gmail that leverages its Gemini AI, allowing users to search for specific emails by asking questions. The feature, known as Gmail Q&A, enables users to find information quickly, such as asking, “What time is our dinner reservation on Saturday?” Initially available only on Android devices, […]

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