By Ayomide Otitoju The Office of the Auditor-General for the Federation has identified financial irregularities amounting to ₦514 billion in the operations of the Nigerian National Petroleum Company Limited (NNPCL) for the fiscal year ending December 31, 2021. The findings, outlined in the 2021 audit report on non-compliance and internal control weaknesses within Ministries, Departments,…
By Ayomide Otitoju Airtel Nigeria’s Chief Executive Officer, Dinesh Balsingh, has called for tariff adjustments to address the telecom sector’s long-term sustainability amid surging operational costs. In a statement shared with The Trust on Monday, Balsingh revealed that operating expenses have skyrocketed by over 300% in the past 18 to 24 months, necessitating a review…
By Ayomide Otitoju Guaranty Trust Holding Company Plc (GTCO Plc), listed on the Nigerian Exchange (NGX: GTCO), has announced the successful completion of the first tranche of its equity capital raise programme. The milestone follows the Central Bank of Nigeria’s (CBN) capital verification exercise and the Securities and Exchange Commission’s (SEC) approval of the Basis…
By Ayomide Otitoju In a bold step towards fostering inclusivity, Fidelity Bank Plc has unveiled the Bundles of Joy initiative, a program designed to provide enriching experiences for children with special needs and valuable support for their families. The inaugural session of the initiative took place over the weekend at a dedicated facility in Lekki,…
By Ayomide Otitoju As the foremost Nigerian bank, First Bank of Nigeria Limited no doubt has a history of curating products and services that not only meet the immediate and future needs of its customers. In this interview with THISDAY, the bank’s Managing Director/Chief Executive Officer, Mr. Olusegun Alebiosu described 2025 as the beginning of…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) could continue servicing its crude-for-loan agreements until 2029, as the demand for oil by domestic refineries surges. This follows the commissioning of the Port Harcourt and Warri refineries and the $20 billion Dangote Refinery in Lagos, which have significantly increased local crude oil needs. According…
By Ayomide Otitoju Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings, has achieved ISO 9001:2015 certification, marking a significant milestone in its commitment to quality and operational excellence. The certification, issued by DQS Holding and recognised by IQNET, confirms that the company has implemented and maintained a robust quality management system for its…
By Ayomide Otitoju The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to privatize state-owned refineries and provide a ₦100 billion grant to support oil marketers amid challenges in the downstream oil and gas sector. In a statement on Saturday, titled PETROAN’s Retrospect of Nigeria’s Oil and Gas Downstream…
By Ayomide Otitoju The Socio-Economic Rights and Accountability Project (SERAP) has called on the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, to address allegations of missing funds amounting to N825 billion and $2.5 billion. The funds were reportedly earmarked for refinery rehabilitation and other oil revenues, as highlighted…
