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Presidency Says Report of N5.4trn for Fuel Subsidy in 2024 ‘Fake News’; Urges Nigerians to Disregard ‘Leaked Documents on Fiscal Proposals’

by Olusegun Edwards
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*STATE HOUSE PRESS STATEMENT *LEAKED DOCUMENTS ON FISCAL POLICY PROPOSALS NOT OFFICIAL The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms. One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) […]

PDP Debunks Alliance, Says: We Are Not In Merger Talks With Any Party

by Olusegun Edwards
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The National Working Committee (NWC) of the Peoples Democratic Party (PDP) says it is not in merger or amalgamation talks with any political party or interest. The party’s National Publicity Secretary, Mr Debo Ologunagba, disclosed this in a statement issued after the party’s NWC 587th meeting in Abuja on Tuesday. Olugunagba said that while PDP […]

Fidelity Bank Sets Out Plans to Raise N127.1bn Additional Capital

by Olusegun Edwards
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Fidelity Bank Plc said it has concluded plans to raise N127.1 billion by way of rights issue to existing shareholders and a public offer, which is a combined subscription. The bank said this in a statement made available to newsmen on Wednesday 5th June, 2024 in Lagos. It said that the combined offer was part […]

NCC: Lending Digital Enablement to the Renewed Hope Agenda

by Olusegun Edwards
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In Nigeria, a young tech-savvy and upwardly mobile population is teeming, and exploring derivable benefits of digital technologies. They are propelled by rapidly expanding internet access and steady broadband penetration, currently about 43 per cent. Our digital economy is poised for significant growth, positively impacting various sectors and benefiting the nation through enhanced connectivity and […]

CBN Explains Why It revoked Heritage Bank’s Licence, As NDIC Commences Liquidation, To Pay Customers N5m Insured Deposit

by Olusegun Edwards
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The Central Bank of Nigeria (CBN) has cited failure of the board of directors of Heritage Bank to improve its financial performance as the reason for the revocation of the bank’s operating licence. Consequently, the Nigeria Deposit Insurance Corporation, NDIC, has also commenced liquidation process of the bank, assuring that it will pay the insured […]

NNPC Restates Commitment to Improved Process

by Olusegun Edwards
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The management of the Nigerian National Petroleum Company Limited (NNPC) has restated its commitment to sustain the company’s march towards process improvement, regulatory compliance and performance excellence. NNPC’s Executive Vice President, Business Services, Mr. Inuwa Danladi, disclosed this while speaking on the recent certification of the International Ship and Port Facility Security (ISPS) Code Compliance […]

Dangote keys Into FG Agenda, To Run All Cement Trucks on CNG By 2025

by Olusegun Edwards
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Amidst applause by shareholders for the impressive results in the 2023 financial year despite the harsh business operating environment, the Chairman of Dangote Cement Plc, Aliko Dangote has announced an increase of 50 per cent on dividend payout to the shareholders, from N20.00 per share paid in the 2022 financial year to N30.00 for the […]

Tinubu Directs MDAs to Patronise NASENI Technologies and Products

by Olusegun Edwards
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President Bola Ahmed Tinubu has directed Federal Ministries, Departments and Agencies (MDAs) in the country to patronise technologies and products of the National Agency for Science and Engineering Infrastructure (NASENI) to support Made-in-Nigeria goods and reduce importation. The President represented by President of the Senate, Godswill Akpabio made the declaration while commissioning NASENI-Portland Compressed Natural […]

UBA Celebrates Africa Day in Style, Commits to Youths Empowerment for Leadership Roles

by Olusegun Edwards
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Africa’s Global bank, United Bank for Africa (UBA) Plc, joined the rest of the world on Friday, May 24, 2024, to mark this year’s edition of the Africa Day. The celebration which went on concurrently across all of its subsidiaries in Africa as well as in the United Kingdom, France, United States of America and […]

Zenith Bank Emerges Most Sustainable Bank in Nigeria in the International Banker Awards 2024

by Olusegun Edwards
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Nigeria’s major financial services institution, Zenith Bank Plc has emerged as the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. In her response to the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame (Dr.) Adaora Umeoji, said: “We are deeply honoured […]

Zenith Bank GMD, Onyeagwu, Bows Out After Five Years of Meritorious Service, Honored as Best CEO

by Olusegun Edwards
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The Group Managing Director and Chief Executive Officer of Zenith Bank Plc Dr. Ebenezer Onyeagwu, stepped down Frida 31st of May 2024, after completing his five-year tenure. Notably, Onyeagwu was named Best Banking CEO of the Year in Africa for the second year in a row at the International Banker 2024 Banking Awards. This prestigious […]

FBN Holdings Continues Impressive Performance, Records N238.53bn PBT in Q1 2024

by Olusegun Edwards
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FBN Holdings Plc has declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2per cent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive performance as one of the oldest […]

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NNPC Restates Commitment to Improved Process

Zenith Bank GMD, Onyeagwu, Bows Out After Five Years of Meritorious Service, Honored as Best CEO

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