FINANCING

The Chartered Institute of Bankers of Nigeria (CIBN) has asserted that the banking sector in the country is uniquely positioned to drive sustainable growth, foster innovation and ensure inclusivity across every stratum of society. President and Chairman of Council, CIBN, Prof. Pius Olarewaju made the remark yesterday during the 2024 Lagos Bankers’ Night, themed: Driving National Growth Agenda: The Role ...

The Nigerian National Petroleum Company Limited, (NNPC Limited) has finally come clean over the reason of the persistent scarcity of fuel nationwide. NNPC on Sunday admitted that it is indebted to its petrol suppliers a substantial amount of money. NNPC had a couple of weeks earlier dismissed the reports that it was indebt to a rising sum of $6 billion ...

In order to enhance the trust and credibility of the Nigerian arbitration system and make the country a safe arbitration seat, there is the need to drive efficiency, accountability, transparency, competency and ethics in the system. The Director Legal and Company Secretary, Seplat Energy Plc, Mrs. Edith Onwuchekwa, said this at the ongoing Nigerian Bar Association Annual General Conference 2024 ...

…This acquisition is a significant milestone in Oando’s long-term strategy to expand its upstream operations and strengthen its position in the Nigerian oil and gas sectorOando PLC (“Oando” or the “Company”) Nigeria’s leading energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce the successful completion of the acquisition of 100% of ...

……..pledges 2 Million BPD by Year end…………. ………by Ben Ndubuwa………….. The Nigeria National Petroleum Company Limited (NNPC), with business operations across the value chain of the oil and gas industry in Nigeria on Monday, posted its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, indicating ...

The Nigeria National Petroleum Company Limited (NNPC Ltd.) has addressed claims circulating in the media regarding a supposed debt of $6.8 billion owed to international oil traders. The company categorically denies this allegation, stating that it does not owe such an amount to any international traders. NNPC Ltd. clarified that credit transactions are standard practice in the oil trading business. ...

Access Holdings Plc (“the Group”) has announced an extension of the acceptance period for its ongoing Rights Issue. Initially set to close on August 14, 2024, the period has now been extended to August 23, 2024, following the approval of the Securities & Exchange Commission (SEC). The statement, signed by the Group’s Company Secretary, Sunday Ekwochi, confirmed that, “The decision ...

Oando Plc was the highlight of the trading week ending August 9, 2024, as the stock posted a 60.47% gain to close with a share price of N40.60. This is as banking stocks recorded a N316 .4 billion equity gain, with the NGX Banking Index rising by 5.14% during the week. During the week, the NGX rose by 0.84%, with ...

Photo: CBN Governor, Olayemi Cardoso The Central Bank of Nigeria has okayed the merger of Providus and Unity Bank, as both financial institutions await the approval of the Securities and Exchange Commission. The approval by CBN signals the first merger to be approved following a mandate by the apex bank directing banks to increase their minimum capital base. Per the ...

Photo: Minister of Finance and Coordinating Minister of the Economy, Wale Edun The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the country currently spends $600m on fuel importation monthly. He stated that the high import bill is due to neighbouring countries, up to Central Africa, benefiting from the country’s fuel imports. The minister ...