The Organisation for Economic Co-operation and Development on Thursday downgraded its economic outlook for the eurozone, citing surging energy prices driven by the ongoing Middle East conflict. In its latest report, the OECD reduced its 2026 growth forecast for the currency bloc by 0.4 percentage points to 0.8 per cent. Growth projections for its two…
By Ayomide Otitoju The Nigerian Electricity Regulatory Commission has inaugurated the Forum of Nigerian Electricity Regulators (FONER), a platform designed to enhance coordination and effectiveness in electricity regulation across the country. The announcement was made by NERC Chairman, Dr. Musiliu Oseni, during the first quarter 2026 Regulatory Meeting with State Electricity Regulators (SERs) in Lagos…
By Ayomide Otitoju Nigerian National Petroleum Company Limited Executive Vice President, Olalekan Ogunleye, has said that the ongoing crisis in the Middle East is creating commercial opportunities for Nigeria, as demand rises for its liquefied natural gas (LNG) cargoes. Speaking at the CERAWeek energy conference in Houston, Ogunleye highlighted Nigeria’s strategic advantage, noting its proximity…
By Ayomide Otitoju JMG Limited has announced plans to host an Engineering Sustainability and Solar Adoption Walk as part of efforts to promote renewable energy and sustainable engineering practices in Nigeria. The initiative, scheduled to commence from the company’s head office in Lagos, will bring together engineers, industry stakeholders, and sustainability advocates to raise awareness…
By Ayomide Otitoju Zenith Bank Plc has announced the appointment of Kennedy Onuwa Okwudili as an Executive Director, effective May 1, 2026. The bank said the appointment aligns with its longstanding succession strategy of grooming leaders from within and is expected to further strengthen its executive management team. Okwudili holds a Bachelor of Science (Hons)…
By Ayomide Otitoju Polaris Bank has reaffirmed its commitment to gender equity as a business and growth strategy during its 2026 International Women’s Day (IWD) celebration, emphasizing sustained investments in women’s empowerment, financial inclusion, and leadership development. This year’s theme, “Give to Gain,” called for collective action, collaboration, and strategic investment in women to accelerate…
Justice Chukwujekwu Aneke of the Federal High Court in Lagos has ruled that the Central Bank of Nigeria’s (CBN) January 2024 dissolution of Union Bank of Nigeria Plc’s board and management exceeded its statutory authority, declaring the intervention unlawful. Delivering judgment on Wednesday in Suit No: FHC/L/MISC/1377/2025, Justice Aneke held that the CBN acted ultra…
By Ayomide Otitoju A major fraud case involving the diversion of over N3.09 billion from customer accounts has exposed significant system vulnerabilities at First City Monument Bank (FCMB), as the bank intensifies efforts to recover part of the losses through legal channels. Justice Rahman Oshodi of the Special Offences Court in Lagos sentenced an ex-convict,…
By Ayomide Otitoju Ikeja Electric on Tuesday reported reduced electricity supply across Lagos, citing a nationwide drop in power generation caused by limited gas availability to thermal power plants. In a statement, the company’s Head of Corporate Communications, Kingsley Okotie, said the shortfall has led to intermittent outages and load shedding, affecting both residential and…
