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FirstHoldCo completes fresh N45bn private placement at N44.06/share to strengthen First Bank operations
FirstHoldCo Plc has announced successful completion of the N45 billion second tranche of its ongoing N350 billion private placement programme. The group disclosed that the fresh capital raise will be injected into First Bank of Nigeria Limited, the group’s flagship…
Petrol retailers back NMDPRA on import license policy to drive down pump prices of product
Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has thrown its weight behind last month’s decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to issue import licences to six marketers. The group noted that increased competition among…
Banks, customers lose N134bn to fraudsters in 6yrs – CBN
Nigerian banks and their customers lost a combined total of N134.48 billion to fraud related activities between 2020 and 2025, according to the Central Bank of Nigeria (CBN). The CBN data which is contained in the newly-released Nigeria Payments System Vision…
FG approves five ‘viable’ destinations for United Nigeria Airlines, ahead of international flight operations
Federal Government says it has already approved four to five viable destinations in Canada, New York, Dubai, and others, ahead of a planned commencement of international flight operations by the indigenous carrier. The government explained that he decision was part…
NMDPRA issues license to indigenous firm for 30, 000bpd capacity refinery in Rivers
Nigerian Midstream and Downstream Petroleum Regulatory Authorities (NMDPRA) has presented a License to Construct (LTC) to the Foster Petroleum Development Company Limited for the development of a 30,000 bpd (barrels per day) capacity refinery in Gokana, Rivers State. According to a…
S/Africa violated 2025 MoU with Nigeria on citizens’ protection — FG, warns of retaliatory measures
Federal Government has hinted at possible retaliatory measures against the estimated 120 South African companies operating in Nigeria following continued violent attacks on its nationals resident in the southern African country. This is also as the government stated that such…
TotalEnergies, NNPC renew emission mitigation partnership
TotalEnergies EP Nigeria Limited and Nigerian National Petroleum Company (NNPC) Limited have renewed their cooperation agreement on deployment of patent technology for emission detection and control at operated oilfield assets in Nigeria. The deal entails continued deployment of AUSEA technology,…
Exclusion of pension funds, poor technology remain barriers to insurance penetration in Nigeria — NCRIB
Nigerian Council of Registered Insurance Brokers (NCRIB) has listed such impediments as the continued exclusion of pension funds from the core insurance sector, poor adoption of technology and widespread ignorance about sector’s benefits, as responsible for low insurance penetration in…
FG releases comprehensive transition guidelines for new tax regime
Federal Government, Thursday, released a comprehensive set of guidelines to facilitate Nigeria’s transition to a new tax regime, providing clarity for taxpayers, revenue agencies, tax consultants, businesses and other stakeholders ahead of the implementation of the Tax Acts 2025. The guidelines,…
MTN makes over 80% of revenue in Nigeria, others — CEO, warns against continued xenophobic attacks in SA
MTN Group President/Chief Executive Officer, Mr. Ralph Mupita, has disclosed that the company draws over 80 per cent of its total revenue from Nigeria and other countries elsewhere, and only less than 20 per cent from South Africa itself. This…
