Justice Obiora Egwuatu of the Federal High Court, Abuja, has ruled that the Nigeria Customs Service (NCS) must cease collecting excise duty on non-alcoholic carbonated sweetened beverages from members of the Nigeria Employers’ Consultative Association (NECA), including Nigeria Bottling Company Limited (NBC) and Seven-Up Bottling Company Limited (SBC). The ruling, delivered on January 30 in…
Head, Consumer Products & Segments, Ecobank Nigeria, Victor Yalokwu; one of the lucky winners of N500,000.00 in quarterly draws category, Aminat Adefaka; Head, Consumer Banking, Ecobank Nigeria, Adeola Ogunyemi; Head, Product Marketing, Ecobank Nigeria; Ejiebhen Egbomondion and Head, Corporate Communications, Ecobank Nigeria, Austen Osokpor during Ecobank Super Reward Grand Finale draws held in Lagos By…
By Ayomide Otitoju The Dangote Petroleum Refinery has announced a reduction in its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol, from ₦950 per litre to ₦890. The price cut, which took effect on Saturday, February 1, 2025, was attributed to recent declines in global crude oil prices, according to a statement…
The Nigeria Civil Aviation Authority (NCAA) has revoked the Air Operator Certificates (AOCs) of Eastwind Aviation Logistics Services Limited and Omni-Blu Aviation, citing regulatory violations. In a statement released on Friday, the aviation regulator said the move is part of efforts to sanitize the industry and ensure strict adherence to safety and operational standards. “The…
By Ayomide Otitoju The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reiterated the apex bank’s determination to curb inflation and stabilize the economy through strategic monetary policies. Speaking in Abuja at the Monetary Policy Forum 2025, Cardoso emphasized that the CBN’s approach remains forward-looking, adaptive, and resilient to navigate economic challenges….
By Ayomide Otitoju MTN Nigeria, the country’s largest telecom operator, has spent N11.1 billion repairing and relocating 2,502km of fibre-optic cables over two years, according to the latest GSMA Nigeria Digital Economy Report. The report highlights that if these funds had been allocated to network expansion rather than maintenance, MTN—serving 77 million subscribers—could have deployed…
By Ayomide Otitoju Fidelity Bank Plc has been selected as one of the partner banks for the Nigeria Youth Economic Engagement and De-Radicalization Programme (NIYEEDEP), an initiative spearheaded by the Federal Ministry of Youth Development in collaboration with the Nigerian Senate Committee on Sports Development. The program aims to empower Nigerian youths by fostering economic…
The Nigerian naira appreciated against the U.S. dollar in the parallel market on Friday, gaining N20 within a day to close at N1,610/$1, compared to N1,630/$1 on Thursday. Similarly, the naira strengthened against the euro, closing at N1,655/€1, reflecting a 0.91% appreciation against the European currency. The British pound also weakened slightly against the naira,…
By Ayomide Otitoju FBN Holdings Plc has recorded a remarkable financial performance in the 2024 financial year, growing its gross earnings by 113% to N3.33 trillion. This was disclosed in the group’s unaudited financial statement published on Thursday via the Nigerian Exchange Limited. The financial services group, which owns First Bank of Nigeria and other…
