SECTORS

$225.8m Debt: GHL, Directors Still Under Shackles Of Court Injunctions – First Bank

First Bank of Nigeria on Wednesday reacted to the court ruling which set aside the ex-parte order freezing the assets and accounts of General Hydrocarbons Limited (GHL), in connection with a disputed $225.8 million loan. FBN said contrary to reports circulating in the…

30/01/2025

Outstanding $7bn FX Cleared – Cardoso

Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced on Wednesday that the Federal Government has cleared the outstanding $7bn foreign exchange backlog to various firms following a successful verification exercise by forensic auditors. Cardoso disclosed this at the launch of Nigeria’s…

30/01/2025

Debt: Sterling Bank Petitions IG over Court Ruling Violations

Sterling Bank Limited has petitioned the Inspector-General of Police, Kayode Egbbetokun to address the alleged use of the National Assembly and the Police Force CID by Miden Systems Limited and its director, Dr Brendan Usoro, to harass the bank and its executives. In…

29/01/2025

NNPCL Uncovers Fresh 77 Illegal Refineries, Pipelines In One Week

The Nigeria National Petroleum Company Limited said it uncovered a total of illegal refineries and pipelines in one across the Niger Delta. Nigeria recorded over 589 oil spills in 2024, most of which were caused by oil theft. A breakdown of the figures showed…

29/01/2025

CBN To Commence Payment Of Forex Backlog

The Governor of the Central Bank, Olayemi Cardoso has announced that forensic verification to clear all pending foreign exchange backlogs is now completed and payments will commence soon. Speaking during the launch of the foreign exchange code, Cardoso lamented how it took the…

28/01/2025

LCCI Calls for Stronger Investments in Critical Infrastructure

Director General, Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has said that for Nigeria to achieve its quest for a trillion-dollar economy, the country needs more investments in critical infrastructure to drive the much-needed digital revolution for growth and development. She…

28/01/2025

CBN Launches FX Code, Sets January 31st Deadline for Compliance Reports

The Central Bank of Nigeria (CBN) has set a January 31, 2025 deadline for companies that trade foreign currency to prove they’re following the new rules laid out in the Nigeria FX Code. The apex bank announced the launch of this code via…

28/01/2025

Grid Collapse: NMDPRA Begins Gas License Distribution To Offtakers

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has commenced the rollout of gas licenses to qualified players in the sector, following frequent collapse of the national grid. The grid that has so far recorded one collapse this year after more than 10 incidents…

27/01/2025

Guinness Nigeria Delivers 82.2% Revenue Growth in H1’25

Guinness Nigeria Plc has announced its unaudited financial results for the six months ended 31 December 2024, showcasing impressive resilience and strategic growth in a challenging macroeconomic environment. The company reported an 82.2% revenue increase, growing from ₦142.60 billion in H1’24 to ₦259.60…

26/01/2025

Oando Expands Oil Exploration with Angola

Oando Plc yesterday announced that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a competitive bidding process organised by the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG). Block KON 13 is…

23/01/2025

SECTORS

$225.8m Debt: GHL, Directors Still Under Shackles Of Court Injunctions – First Bank

Outstanding $7bn FX Cleared – Cardoso

Debt: Sterling Bank Petitions IG over Court Ruling Violations

NNPCL Uncovers Fresh 77 Illegal Refineries, Pipelines In One Week

CBN To Commence Payment Of Forex Backlog

LCCI Calls for Stronger Investments in Critical Infrastructure

CBN Launches FX Code, Sets January 31st Deadline for Compliance Reports

Grid Collapse: NMDPRA Begins Gas License Distribution To Offtakers

Guinness Nigeria Delivers 82.2% Revenue Growth in H1’25

Oando Expands Oil Exploration with Angola

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