Skip to content
SterlingHoldCo gets shareholders’ nod for $400m capital raise
Shareholders of Sterling Financial Holdings Company (SterlingHoldCo) Plc have approved the company’s move to raise up to $400 million in fresh capital as part of efforts to strengthen its capital base and support expansion across its businesses. The approval was granted…
FG orders crackdown on hoarding, tasks NMDPRA to stabilise LPG prices
The Federal Government has directed regulators in the energy sector to intensify market surveillance and work closely with security agencies to eliminate sharp practices responsible for artificial scarcity and rising prices of Liquefied Petroleum Gas (LPG), commonly known as cooking…
Telcos back CBN’s directive to banks, fintechs on localisation of payment data storage
Association of Licensed Telecommunications Operators of Nigeria (ALTON) has backed the Central Bank of Nigeria (CBN) over its directive to banks and fintechs to host payment transaction data locally. According to the operators, data sovereignty required countries to take responsibility for…
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,…
