By Ayomide Otitoju The Federal Government has initiated plans to engage an external auditor to verify the N2.7 trillion fuel subsidy claim made by the Nigerian National Petroleum Company Limited (NNPC) The unnamed auditor will collaborate with the Office of the Auditor-General of the Federation to determine the actual amount owed by the government to…
The Executive Director of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, has reported that Nigeria’s total exports for the first half of 2024 reached $2.7 billion, marking a 2.6% increase compared to the same period in 2023. During a meeting in Abuja on Wednesday, Ayeni provided a breakdown of the nation’s export performance, revealing…
The Ekiti State Executive Council has sanctioned ₦4.15 billion for an array of projects aimed at improving infrastructure, agriculture, and education. The approvals were disclosed by the Commissioner for Information, Taiwo Olatunbosun, in a statement released in Ado Ekiti on Tuesday, following the SEC meeting held on August 26. A significant portion of the budget,…
The Asset Management Corporation of Nigeria (AMCON) is exploring the possibility of merging Arik Air and Aero Contractors to establish a new national carrier. AMCON’s Managing Director/Chief Executive Officer, Gbenga Alade, disclosed this on Monday during an interactive session with media executives in Lagos. Alade highlighted the severe financial challenges facing both airlines, noting that…
The Nigerian National Petroleum Company Limited (NNPC) has firmly denied claims that President Bola Tinubu or Wale Tinubu, CEO of Oando Plc, has any stake in the acquisition of OVH Energy by the NNPC. This clarification was made in response to accusations from former Vice President Atiku Abubakar, as relayed by his media adviser, Paul…
By Ayomide Otitoju Oando Plc has completed the $783 million acquisition of Nigerian Agip Oil Company (NAOC), a subsidiary of Italian energy firm Eni. The announcement was made on Thursday by Ayotola Jagun, Oando’s Chief Compliance Officer and Company Secretary. With this deal, Oando, listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange,…
By Ayomide Otitoju Fidelity Bank Plc, a leading commercial bank in Nigeria, has reaffirmed its commitment to the highest corporate governance standards, consistently meeting full disclosure requirements and adhering to global best practices. The bank was recently awarded the CG+ rating, the highest under the Corporate Governance Rating System (CGRS), which evaluates listed companies against…
By Ayomide Otitoju Globacom, Nigeria’s leading digital solutions provider, has launched WiFlix, a groundbreaking streaming service that offers subscribers unlimited access to an extensive library of content. The platform, designed to enhance the online experience for Globacom users, is available on both Android and iOS devices. WiFlix features an impressive collection of 30,000 hours of…
By Ayomide Otitoju In a significant move to bolster Nigeria’s vegetation cover, FirstBank, in collaboration with the Nigerian Conservation Foundation (NCF), has kicked off an extensive tree-planting initiative. This effort, led by Aishatu Bubaram, Group Executive of Commercial Banking (North) at FirstBank, is a key feature of the bank’s 2024 Corporate Responsibility and Sustainability Week….
