By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has dismissed claims circulating in sections of the media that the recently revived Port Harcourt refinery has been shut down. In a statement issued on Saturday in Abuja, the Chief Corporate Communications Officer, Olufemi Soneye, assured the public that the refinery remains “fully operational.” The…
By Ayomide Otitoju Polaris Bank has added another accolade to its achievements, securing recognition at the 18th edition of the Sustainability, Enterprise, and Responsibility Awards (SERAS), Africa’s leading platform for Sustainability and Corporate Social Responsibility (CSR). The award ceremony, held at the Oriental Hotel in Lekki, Lagos, celebrated the bank’s impactful community interventions and unwavering…
By Ayomide Otitoju Access Bank Plc recently welcomed German President Frank-Walter Steinmeier to its Lagos headquarters as part of his inaugural visit to Nigeria. The visit underscored the deepening economic relationship between Germany and Nigeria, with Access Bank playing a pivotal role in fostering bilateral trade and investment. President Steinmeier, accompanied by a delegation of…
By Ayomide Otitoju Fidelity Bank Plc has unveiled a solar-powered water facility in Eyosung Community, Udung Uko Local Government Area of Akwa Ibom State, as part of its Corporate Social Responsibility (CSR) efforts under the Fidelity Helping Hands Programme (FHHP). The project, championed by the bank’s Risk Management Directorate, aims to address water scarcity in…
By Ayomide Otitoju The Central Bank of Nigeria (CBN) has introduced new restrictions on Point of Sale (PoS) agents, capping their daily transaction limit at ₦1.2 million. The measure is part of the apex bank’s efforts to promote a cashless economy, according to a circular released on Tuesday. Signed by Oladimeji Yisa Taiwo, on behalf…
By Ayomide Otitoju President Bola Tinubu has set an ambitious exchange rate target of ₦1,500 per dollar in the 2025 Appropriation Bill presented to the joint session of the 10th National Assembly in Abuja on Wednesday. Speaking during the budget presentation, Tinubu emphasized that the target was crucial to ensuring the effective implementation of the…
President Bola Tinubu has unveiled a proposed 2025 “Restoration Budget” totaling N47.9 trillion, with a significant allocation of N15.81 trillion earmarked for debt servicing. Tinubu presented the budget proposal to a joint session of the National Assembly on Wednesday, emphasizing his administration’s commitment to economic reform and fiscal consolidation. “The numbers for our 2025 budget…
By Ayomide Otitoju The African Export-Import Bank (Afreximbank) has joined a consortium of financial institutions to finalize a historic €2 billion syndicated term loan facility for Nigeria’s Bank of Industry (BoI). The signing ceremony took place in London, marking a significant milestone in efforts to bolster Nigeria’s industrial and economic transformation. In a statement released…
By Ayomide Otitoju FirstBank has announced a landmark achievement with the registration of its subsidiary, First Nominees Nigeria Limited, as Nigeria’s first nominee company in the capital market. The registration, confirmed by the Securities and Exchange Commission (SEC) on November 22, 2024, positions First Nominees as a fully-fledged capital market operator. In a statement on…
