By Ayomide Otitoju Zenith Bank Plc has been ranked Nigeria’s number one bank by Tier-1 Capital for the sixteenth consecutive year, according to the 2025 edition of The Banker’s Top 1000 World Banks, published by the Financial Times Group. The bank was placed 581st globally with a Tier-1 Capital of $2 billion. The rankings, released…
Kenyan civil servant Edwin is one of many African investors who have fallen victim to CryptoBridge Exchange (CBEX), a fraudulent cryptocurrency trading platform that lured users with promises of artificial intelligence-driven profits. Edwin, who only provided his first name out of shame, lost nearly $16,000—mostly borrowed from a bank—to the scam, which collapsed in April…
By Ayomide Otitoju Shell Reaffirms Investment Commitment to Nigeria, Eyes Expansion in Bonga Fiel Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has reaffirmed its commitment to investing in Nigeria’s energy sector as the country works toward energy abundance and a net-zero emissions target by 2050. Speaking at a panel session during the 2025 Nigeria…
By Ayomide Otitoju Japan is set to undertake the world’s deepest trial to extract rare earth minerals from the ocean floor, beginning in January 2026, in a bid to secure a stable supply of critical resources amid rising geopolitical tensions. Shoichi Ishii, Director of Japan’s Cross-ministerial Strategic Innovation Promotion Programme, announced the initiative on Thursday….
By Ayomide Otitoju The Federal Government has reiterated its commitment to accelerating clean energy adoption by targeting the distribution of five million Liquefied Petroleum Gas (LPG) cylinders to households nationwide by 2030. This was disclosed by the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, during the flag-off of the North West phase of the Grassroots…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported ₦6.008 trillion in revenue for May 2025, reflecting a marginal increase from the ₦5.972 trillion posted in April. According to the company’s latest monthly report released Monday, profit after tax rose 14% to ₦1.054 trillion in May, up from ₦926 billion in…
By Ayomide Otitoju Dangote Petroleum Refinery has reduced its ex-depot price of petrol from ₦880 to ₦840 per litre, reflecting a modest relief amid recent global oil market volatility. The price adjustment, confirmed by refinery spokesperson Tony Chiejina, took effect on Monday, June 30. It comes roughly one week after the refinery had raised the…
By Ayomide Otitoju The average retail price of Automotive Gas Oil (diesel) in Nigeria rose by 25.24% year-on-year to N1,758.26 per litre in May 2025, up from N1,403.96 recorded in May 2024, according to new data released by the National Bureau of Statistics (NBS). The report, titled “Automotive Gas Oil (Diesel) Price Watch – May…
By Ayomide Otitoju The African Export-Import Bank (Afreximbank) has successfully completed the upsizing of its reserve-based lending (RBL) facility for Oando Oil Limited to $375 million, bolstering the company’s financial flexibility and production ambitions. In a statement released on Tuesday, Afreximbank disclosed that Oando had reduced the balance of its original $525 million facility, secured…
