The Dangote refinery has said its plan to release premium motor spirit into the market this month will no longer be possible. The President of Dangote Group, Aliko Dangote, told newsmen on Monday that the petrol from the 650,000 barrels per day capacity refinery will be out in July. Dangote said this was due to…
On Monday, the Nigerian National Petroleum Company Limited refuted claims that, when former President Muhammadu Buhari was in office, it had increased the subsidy on Premium Motor Spirit, or gasoline, by N3.3 trillion. Olufemi Soneye, the business’s spokesperson, stated in a statement that the company was not aware of any upcoming audit of its books,…
The Central Bank of Nigeria’s most recent statistics shows that for the first five months of this year, the country’s debt service costs totaled approximately N2.2 billion. This represents over half of the $4.8 billion Fitch Ratings estimated for the full year in a report predicting Nigeria’s external debt servicing to increase to $5.2 billion…
𝐂𝐁𝐍 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐬 𝐥𝐢𝐬𝐭 𝐨𝐟 𝐥𝐢𝐜𝐞𝐧𝐬𝐞𝐝 𝐃𝐞𝐩𝐨𝐬𝐢𝐭 𝐌𝐨𝐧𝐞𝐲 𝐁𝐚𝐧𝐤𝐬
The Central Bank of Nigeria has indicated that it would sanction development finance institutions (DFIs), primary mortgage banks (PMBs), and microfinance banks (MFBs) in Nigeria over late submission of regulatory returns through the Financial Institutions Returns Automation (FinA) application. In separate letters to the institutions dated March 5, 2024, the apex bank expressed strong disapproval…
The Central Bank of Nigeria, CBN, says Diaspora remittances surged by 433 per cent to $1.3 billion in February from $300 million in January. The Acting Director of Corporate Communications at CBN, Hakama Sidi Ali,said Bank’s data indicates that overseas remittances rose to US$1.3 billion in February 2024, more than four times the US$300 million…
Propelled by an unyielding commitment to the safety and security of its residents, and failure to comply with essential data sharing agreement, the Lagos State Government is set to sanction Uber Technologies System Nigeria Limited. Expressing deep dismay at Uber’s continuous defiance of established regulations, particularly regarding critical Application Program Interface (API) integration for enhanced…
President Bola Ahmed Tinubu, and His Highness, Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, in Doha, witnessed the signing of historic agreements between both nations, opening a gateway for leveraging the potential of mutual cooperation in pivotal sectors of education, enterprise development, investment promotion, youth empowerment, mining, tourism, and sports….
Senators Nwoye, Echocho Biker Over Kogi State Status The Nigerian Senate has rejected move to include Anambra State in the membership of Niger Delta Development Commission ( NDDC). This was as the move and rejection led to bickering between Senators Tony Nwoye and Jibrin Isah Senator Nwoye had in his lead debate on the bill…
