By Ayomide Otitoju Wema Bank has reaffirmed its position as one of Nigeria’s most profitable and innovative financial institutions with a record-breaking financial performance in 2024, earning unanimous commendation from shareholders at its Annual General Meeting (AGM) held virtually on May 22, 2025. According to its 2024 Annual Report, the bank posted a 91.51% increase…
By Ayomide Otitoju The Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Ronald Adams, has called on Nigerian companies to position themselves for increased participation in offshore and shallow water oil and gas projects, citing massive potential for business growth and skills development. Adams, represented by SNEPCo’s Head of Supply Chain, Charles…
By Ayomide Otitoju The Federal Government is set to raise ₦300 billion from the domestic bond market in May 2025, as it continues to leverage local debt instruments to support economic reforms, sustain public financing, and maintain investor confidence. The fundraising plan, announced by the Debt Management Office (DMO) on Thursday, represents a 12.5 per…
By Ayomide Otitoju Chairman of FBN Holdings Plc, Femi Otedola, has attributed his ₦320 billion personal investment in First Bank to the economic reforms of the Federal Government and policy measures of the Central Bank of Nigeria (CBN), which he says have restored investor confidence in Nigeria’s financial system. Speaking on Thursday at the 13th…
By Ayomide Otitoju Nigeria’s external debt servicing costs surged by 49 per cent year-on-year in the first four months of 2025, with the Federal Government spending approximately $2.01 billion, according to the latest international payments data released by the Central Bank of Nigeria (CBN). The figure marks a significant increase from the $1.33 billion recorded…
By Ayomide Otitoju PRO International Concept Ltd. has filed a contempt of court application at the Federal High Court in Lagos, seeking the imprisonment of Babatunde Olofin, Managing Director of Moniepoint, alongside several other bank executives, over alleged disobedience of court orders relating to the recovery of N95 million. The company alleges that the sum…
By Ayomide Otitoju The University of the West of England (UWE), Bristol, has formally launched the Centre for African Studies in Economics and Technology (CASET), a new initiative aimed at tackling Africa’s socio-economic challenges through research, partnerships, and innovative policy development. The Centre, inaugurated on UWE’s Bristol campus, is envisioned as a hub for academic…
By Ayomide Otitoju Stanbic IBTC Bank has announced its 2025 Home Loan Breakfast Session, scheduled to take place on Tuesday, June 3 in Lagos, with a follow-up edition later in the year in Abuja. Themed “Building Tomorrow Today: Transforming the Path to Homeownership,” the event is designed to offer Nigerians a clearer path to property…
By Ayomide Otitoju The Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction of N15 in the price of Premium Motor Spirit (PMS), marking another step in its ongoing efforts to make fuel more affordable for Nigerians. Following the latest cut, PMS will now be sold at N875 per litre in Lagos, N885 in…
