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Oando’s acquisition of NAOC, product of 10 years hard work – Wale Tinubu
The Group Chief Executive, Oando Group, Jubril Adewale Tinubu, has attributed the acquisition of 100 per cent of the shareholding interest in the Nigerian Agip Oil Company (NAOC) from the Italian energy company, Eni, to…
Battle For 130-Year Old FirstBank May Impact Its Fortunes — Investors
…Boardroom Squabble Threatens N350bn Recapitalisation Plan …Shareholders Ask Parties To Sheathe Sword, Differ On CBN’s Role For FBN Holdings Plc, parent company of 130-year old FirstBank, Nigeria’s oldest…
Nigeria’s domestic dollar bond steals Eurobond shine
Jamiu Agah, a Lagos-based information technology consultant, would have had to wait 10 more years to invest in a Nigerian Eurobond start getting the best out of his dollar savings. The 33-year-old IT expert earns…
Engineers hail Dangote Petroleum Refinery as Awesome and Mind-blowing
…As company prepares for PMS rollout ...Dangote commended for hiring, nurturing Nigerian Engineers The League of engineering bodies in…
Fraud allegations against me motivated by malice, says Dozy Mmobuosi
Odogwu Mmobuosi, a Nigerian businessman, popularly known as Dozy Mmobuosi, says allegations of infractions against his business…
Unclaimed dividends: Poor identification of investors major challenge, says SEC
The Securities and Exchange Commission (SEC) says the lack of proper identification of investors is a key factor contributing to unclaimed dividends. Speaking during a recent interview, Emomotimi Agama, SEC’s…
Banks’ FX Windfall Tax: Promoting Fair Share in Wealth Redistribution
The introduction of a new windfall tax on Nigerian banks has continued to generate debate. While some have argued that the policy could hurt financial…
Dangote refinery commences petrol production test-run
The 650,000-barrel-per-day Dangote refinery is undergoing test runs for petrol production, with full operation expected by mid-September. This is according to a report by Reuters which quoted a note by industry…
Cost of living crisis eases as prices of garri, potato, tomato drop
Nigeria’s cost of living is easing for the first time since late 2022, offering an unexpected respite for households and a possibility of the Central Bank of Nigeria (CBN)’s interest rate cut in September. Monthly…
NNPC pays N140.55bn for Oando-branded retail stations, jetty, others
…provides scant information on seller The Nigerian National Petroleum…
Shareholders worry as Ownership Tussle, Fraud rocks First Bank – Share Price Plummets
Shareholders of First Bank of Nigeria (FBN) Holdings, Nigeria’s oldest financial institution, are growing increasingly anxious as recent crises and scandals have caused the company’s share price to plummet by over…
Neither Tinubu Nor His Nephew Has Interest In OVH Acquisition – NNPCL Replies Atiku
The Nigeria National Petroleum Company Limited (NNPCL) has said its investment decisions are strictly determined on the basis of commercial viability and national interest. It spoke in response to former…
BREAKING: Oando PLC acquires Nigerian Agip Oil Company for $783 Million
Oando PLC has successfully completed its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni for a total consideration of $783 million. The company confirmed via a press release that…
Nigeria’s rusty FX market struggles to crank
The Central Bank of Nigeria (CBN)’s latest attempt to shore up the ailing naira by offloading a record amount of dollars…
Customs’ spot rates adoption: Duty FX rates shift 100 times in 2024, spike prices of goods by 120%
Over 40% of importers forced out of business, operators claim The burden of overall foreign exchange (FX) volatility and particularly in adopting the spot trading rate in determining import duty assessment may…
BUA Foods signs deal to build four wheat milling factories in Nigeria
BUA Foods Plc has signed a deal with a Turkish milling equipment manufacturer, IMAS to build four new wheat milling factories with a capacity to mill up to 3200 tonnes daily. The company disclosed this in a…
Nigerian businesses expect naira to depreciate in the next three months- CBN survey
Businesses in Nigeria say they expect the Naira to continue to depreciate in the next three months beginning from July but will begin appreciation after six months. This is according to the Central Bank of…
NBA says domestic refining will address fuel scarcity, queue
… Urges President Tinubu to implement directive on crude supplyto Dangote refinery, others The Nigerian Bar…
NNPC Retail Surrenders Control To OVH Energy, Operator Of Oando Assets, Which It Acquired
NNPC Retail, the downstream arm of the Nigerian National Petroleum Company Limited, has ceased to exist after a court-approved transfer of its ownership and assets to OVH Energy Marketing Limited, a company it claimed…
Naira lingers at N1600/$ amid improved fundamentals in Nigerian FX market
The Nigerian currency lingers at N1600/$ in the black market on Wednesday morning, despite improved market fundamentals in the country’s FX market and the dollar index trading near its 7-month low. Naira short…
BVN, NIN required for subscription to Nigeria’s $500 million domestic dollar bond
The Federal Government of Nigeria has disclosed the need for specific identification requirements for its latest financial instrument, the Domestic FGN US Dollar Bond. This is according to a Frequent Asked Questions…
The business odyssey of Oba Otudeko: A journey of vision, valour and victory
In the intricate dance of commerce, where fortunes are won and lost few have pirouetted with as much grace and precision as…
Tinubu’s petrol subsidy gulps N15trn as scarcity worsens
...Economists say subsidy affecting govt revenue President Bola Tinubu’s administration has spent N15. 096 trillion on petrol subsidy in the last 14 months, according to BusinessDay’s calculations. The…
Nigerians get brief relief as diesel prices fall after three months
For the first time in three months, Nigerians are experiencing some relief as diesel prices fell in July, easing to N1,379.48 per litre, according to the latest report by the National Bureau of Statistics (NBS). The…