NNPC May Sign Oil Swap Deals With Shell, ExxonMobil – Official
Nigeria’s state oil firm, NNPC, could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC...
FCMB Group Completes Acquisition Of Legacy Pension
FCMB Group Plc has successfully completed the acquisition of an additional 60 per cent equity stake in Legacy Pension Managers Limited (Legacy). The acquisition, which increases the holding company’s interest in the company...
N300BN SPECIAL INTERVENTION FUND: STATES TO BEGIN DRAWDOWN SOON –PRESIDENCY
The Presidency has said states are to start drawing from the special intervention fund of between N250 billion and N300 billion in a matter of weeks.
This,...
DAAR Communications Records N2.14bn Operating Loss
Pioneer publicly-quoted broadcast group, DAAR Communications Plc, has declared an operating loss of N2.139 billion in 2016, up from N1.515 billion in 2015.
The Chairman...
NAIRA DROPS TO 241 AGAINST DOLLAR
The naira hit another record low of 241 against the dollar at the parallel market on Monday as the Central Bank of Nigeria’s restrictions...
Exxonmobil Nigeria Gets New Managing Director
Mobil Producing Nigeria Unlimited, a subsidiary of United States-based ExxonMobil, on Friday announced the appointment of Mr. Paul McGrath as the new Chairman and...
CBN REVIEWS DOLLAR SALE TO BDCS TO $50,000
The Central Bank of Nigeria (CBN) on Tuesday resolved to raise the amount of weekly foreign currency which banks are authorised to sell to Bureau...
RECCESSION: INNOSON MOTORS SHUTS DOWN PRODUCTION
At a factory in southeast Nigeria, dozens of new white buses stand at the end of the production line, apparently ready to take on some...
Petrol Scarcity | Marketers Pushes For Incentives
Oil marketers in Nigeria may have opted to lobby the federal government to consider and grant them some form of tax holidays and other...
TSA: CBN FINES FIRSTBANK, UBA N4.82BN FOR CONCEALING NNPC FUNDS
In line with its threat to sanction commercial banks that failed to comply with the federal government’s directive on the remittance of government revenue...