FINANCING

Oando Plc has officially notified the Nigerian Exchange Ltd. (NGX) of the acquisition of it’s 15.83 percent equity by Leaf Investment limited. This was contained in a statement signed by Oando Chief Compliance Officer & Company Secretary, Ayotola Jagun, posted on the NGX on Monday. The statement noted that this was Alhaji Dahiru Mangal’s equity interest in the company “In ...

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to hold the Monetary Policy Rate (MPR) at 11.5 per cent for the umpteenth time. Reading a communiqué after the committee’s 282nd meeting on Tuesday, Mr Godwin Emefiele, the CBN Governor, said the MPC also unanimously agreed to hold all other monetary policy parameters constant. ...

Trading on the Nigerian bourse opened on Monday on a positive note with turnover appreciating by 1,103.94 per cent due to off-market trade in Oando Plc. Specifically, a total of 2.40 billion units valued at N16.47 billion were exchanged by investors in 4,811 deals. This was in contrast with 199.52 million shares worth N3.26 billion traded in 3,917 deals on ...

…..… gas business, company resilience, ESG efforts, others lift rating……. Lagos and London, 19 November 2021: Seplat Energy Plc (“Seplat Energy” or “the Company”), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has been upgraded to ‘B’ from ‘B-‘ by Fitch Ratings on its Long-Term Issuer Default Rating (IDR). Fitch ...

The Nigerian National Petroleum Corporation (NNPC) has signed a five-year agreement worth $1.04 billion with the African Export–Import Bank (Afreximbank), in a deal that has been described as the biggest so far at the ongoing Intra-African Trade Fair in Durban, South Africa. This is just as the Group Managing Director of the NNPC, Mallam Mele Kyari yesterday predicted that crude ...

The Managing Director, National Engineering and Technical Company (NETCO), Mr Johnson Awoyomi, has attributed the Nigerian National Petroleum Corporation (NNPC) profitability to cost optimisation. The NETCO is one of the subsidiaries of the NNPC. Awoyomi spoke during an interactive session with young engineers at the Nigerian Association of Petroleum Explorationists (NAPE) 2021 Conference on Tuesday in Lagos. He said that ...

Fidelity Bank Plc has announced profit before tax (PBT) of N28.10 billion for the nine months ended September 30, 2021. This represents an increase of 31.92% when compared with the N21.30 billion recorded in the comparable period of 2020. The Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, disclosed this in the bank’s unaudited financial statement posted yesterday ...

………..by James Ikenna……….. A total of nine oil firms are expected to remit into the account of Nigeria National Petroleum Corporation (NNPC) Limited the sum of N156 billion accruing from the sale of crude oil for the month of August 2021. A document obtained from NNPC in Abuja on Sunday showed that the firms, which were joint venture partners of ...

The Director-General, Energy Commission of Nigeria, Prof Eli Bala, has told the House of Representatives that the parastatal has been plunged into huge debts over the execution of zonal intervention projects, popularly known as constituency projects, facilitated by members of the National Assembly. Bala, while appearing before the House Committee on Science and Technology for 2022 budget defence in Abuja ...

The Nigeria Extractive Industries Transparency Initiative (NEITI) has inaugurated Opening Extractives in Nigeria, to check corruption and illicit financial flow for effective governance in the extractive sector. The programme would also transform availability of beneficial ownership information to respective stakeholders. The Opening Extractives is a global programme designed to support national governments and stakeholders, to deepen beneficial ownership transparency and ...