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Agbakoba warns NNPC against taking over Dangote refinery
A Senior Advocate of Nigeria, Olisa Agbakoba, has warned the Nigerian National Petroleum Company Limited not to take over the Dangote Refinery. Agbakoba was reacting to a comment by the businessman that the…
Reps Invite Dangote, NMDPRA Over ‘Substandard Petroleum Products’
The House of Representatives joint Committee on Midstream and Downstream investigating alleged domestic production of substandard petroleum products, non-availability of crude oil to domestic refineries and other related…
Some Nigerians Have More Cash Than I Do – Dangote
Africa’s wealthiest man, Aliko Dangote, says there are some Nigerians with more financial strength compared to him. Addressing House of Representatives members who toured his refinery in Lagos on Saturday, the…
Fidelity Bank’s Consistent Strong Growth Excites Investors
Fidelity Bank Plc has recorded an average annual profit growth of 64 per cent over the past three years, underlining its resilience as one…
Nigeria’s biggest single local investment faces age-old threats
… Dangote insists its diesel is best in Nigeria … Looks to Libya, Angola, others for crude oil Nigeria’s oil and gas sector, the lifeblood of Africa’s biggest economy, where investments have been…
Dangote refinery to import crude oil from Libya
The Dangote Refinery in Lagos is in discussions with Libya to import crude oil for its 650,000 barrels per day plant as it increases production. The Vice…
Windfall tax: FG collecting taxes on already reported profit could deter future investment – PwC
Tax and Advisory Service firm, PricewaterhouseCoopers (PwC) has stated that the federal government’s latest legislation to tax already reported profits of banks in 2023 could deter future investments into the…
Dangote Refinery: Buy Me Out – Aliko Tells NNPCL
Apparently speaking out of frustration, Alhaji Aliko Dangote on Sunday indicated his willingness to give up ownership of the multibillion-dollar Dangote refinery to the Nigerian National Petroleum Company…
My Friend Who Warned Against Investing In Nigeria Now Laughing At Me – Dangote
Africa’s wealthiest man, Aliko Dangote, says one of his friends who started investing abroad four years ago, has been taunting him over the back and forth with the government in recent times. Dangote has been having…
Zenith Bank Retains Position As Nigeria’s Number One Bank By Tier-1 Capital For Fifteen Consecutive…
For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings,…
Aliko Dangote offers to sell 650,000 bpd oil refinery to NNPC
Africa’s wealthiest man Aliko Dangote said he is willing to give up ownership of his multibillion-dollar oil refinery to the state-owned energy company NNPC Limited. The billionaire spoke as a new dispute with one…
Nigerian Banks incur N575.168 billion in taxes in 2023 as FG plans 50% Windfall tax
In 2023, eleven Nigerian banks incurred a total of N575.168 billion in taxes, marking a significant 175% increase compared to the N209.608 billion incurred in 2022. Out of this total, N440.305 billion was…
Why we sold off our flour mill in Nigeria – Aliko Dangote
Africa’s richest man and CEO of Dangote Group, Aliko Dangote, has explained why his company decided to sell off its flour mill in Nigeria in 2019. Dangote made this disclosure to newsmen on Saturday in Lagos. …
Dangote challenges NMDPRA, tests diesel in the presence of House Reps leadership
says “Our diesel is the best in Nigeria, meets international standard “ ... lab test reveals 88ppm sulphur…
Dangote counters NMDPRA, says refinery’s petroleum products compliant with standards
Aliko Dangote, Africa’s richest man, has refuted claims that petroleum products from his refinery are substandard. Dangote rejected the allegations on Saturday when members of the house of representatives…
EFCC Arraigns Forex Broker Over ‘N2bn Scam’
The Economic and Financial Crimes Commission (EFCC) has arraigned one Rufus John Isip, a self-acclaimed forex broker, for alleged N2 billion investment scam in Akwa Ibom State. Isip was arraigned before Justice C.…
Anti-Dangote refinery comments: Nigerians demand removal of NMDPRA boss
Nigerians have called out the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority, Farouk Ahmed, for saying the diesel produced by the $20bn Dangote refinery is inferior to the ones imported…
We’ll Appeal $220m Fine By FCCPC – Meta
WhatsApp says its parent body, Meta, will be appealing the $220 million fine imposed by the Federal Competition and Consumer Protection Commission (FCCPC) regarding its violation of Nigeria’s data privacy laws. The…
If we knew the magnitude of what we were going into, we would have . . . – Dangote
•Speaks on the construction of a refinery Nigeria banks on for economic revival, his frustrations, achievements, expectations •It’s like swimming in the middle of the sea, getting tired but making efforts to…
CBN sells $106.5m to 29 FX dealers in two days
The Central Bank of Nigeria (CBN) says foreign currencies worth $106.5 million were sold to authorised dealers on Thursday and Friday. In a statement on Friday, CBN said it also bought foreign currencies worth $9.5…
How to recover unclaimed balances from dormant account banks – CBN
The Central Bank of Nigeria (CBN) on Friday outlined a comprehensive procedure for account owners and beneficial owners to recover their funds that have been dormant for up to 10 years. A dormant account is a bank…
Explainer: Separating fact from fiction in NMDPRA’s claims against Dangote refinery
The celebration surrounding Aliko Dangote’s monumental $20 billion refinery project in Nigeria appears to be hitting some snags as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has…
KPMG predicts legal disputes from FG’s 50% windfall tax
Professional services firm, KPMG, says there may be legal disputes from the Federal Government’s proposed 50 percent tax on banks’ foreign exchange gains, warning that the windfall tax is retroactive, which is not in…
JUST IN: CBN directs banks to send funds in dormant accounts, unclaimed balances to apex bank
The Central Bank of Nigeria (CBN) has issued revised guidelines for the management of dormant accounts, unclaimed balances, and other financial assets in banks and financial institutions across Nigeria. The updated…