By Ayomide Otitoju The Federal Government’s revenue rose significantly by 76%, from ₦7.1 trillion in 2022 to ₦12.5 trillion in 2023, driven by higher oil earnings and improved tax collections. This is according to the recently released 2025–2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and Economic Planning. The…
By Ayomide Otitoju The board of Wema Bank Plc has announced the appointment of Oluwole Ajimisinmi as the new Deputy Managing Director and Olukayode Bakare as an Executive Director, effective December 1, 2024. Ajimisinmi succeeds Oluwole Akinleye, who is retiring after a decade on the board. A legal professional with extensive experience in banking and…
From Left: Dagogo Buowari, Nigerian Content Manager at NLNG (6th Left); Dr Ama Ikuru, NCDMB’s Director of Capacity Building & Corporate Services (7th Left); Engr Joshua Anemeje, NLNG Train 7 Corporate Liaison Manager (8th Left), guests and beneficiaries at the opening ceremony of Train 7 Human Capacity Development (HCD) Training in Port Harcourt in Rivers…
Nigeria’s headline inflation rate surged to 33.88% in October 2024, up from 32.7% in September, representing a 1.18 percentage point increase month-on-month. This was revealed in the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Friday. The NBS attributed the inflationary pressures to escalating transportation costs and higher food…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC) has refuted claims that its Group Chief Executive Officer (GCEO), Mele Kyari, is set to leave his position. The company’s spokesperson, Olufemi Soneye, dismissed the speculation during a conversation with our correspondent on Friday. The clarification followed a report by an international newspaper suggesting that…
By Ayomide Otitoju In a bid to bolster its service delivery and drive organizational growth, Adron Homes and Properties has elevated distinguished professionals to key leadership positions. These appointments, announced alongside the company’s vision for the future, highlight the contributions of these individuals to the advancement of the Adron brand. New Leadership AppointmentsThe new appointments…
By Ayomide Otitoju United Bank for Africa Plc (UBA) announced on Friday the launch of a N239.4 billion rights issue, aiming to issue 6,839,884,274 ordinary shares at N35 per share. This capital raise responds to the Central Bank of Nigeria’s (CBN) updated minimum capital requirements for Nigerian banks, allowing UBA to further bolster its financial…
By Ayomide Otitoju Access Bank has entered into an agreement to acquire a majority stake in Afrasia Bank Limited, the fourth largest bank by total assets in Mauritius, valued at $5.7 billion as of mid-2024. Access Holdings Plc, the parent company of Access Bank, announced the acquisition on Thursday through a corporate filing on the…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC) clarified on Thursday that it has not halted the importation of petroleum products, despite recent remarks that sparked public speculation. NNPC spokesperson Olufemi Soneye stated that while NNPC continues to prioritize local sourcing when economically viable, it retains the option to import fuel when needed….
