Chief executive officers of commercial banks have been directed to appear in person before an investigative panel of the House of Representatives over alleged illegal and unexplained deductions from customers’ bank accounts. The summons was issued on Tuesday in Abuja by the House Ad-hoc Committee investigating the deduction of taxes from civil and public servants’…
The Dangote Petroleum Refinery has stopped the monthly salaries of the engineers sacked in September during its face-off with the Petroleum and Natural Gas Senior Staff Association of Nigeria. In a bid to address this, PENGASSAN said it is engaging the Dangote Group to resolve the matter amicably instead of resorting to another industrial action….
Chairman of the Dangote Group, Aliko Dangote, has urged wealthy Nigerians to divert funds spent on luxury items such as Rolls-Royce cars and private jets into building industries that can boost job creation and stimulate economic growth. In a recent interview clip shared online, Dangote lamented the growing culture of extravagant spending among the elite,…
The Corporate Affairs Commission (CAC) has announced plans to clamp down on unregistered point of sale (PoS) operators from January 1, 2026. In a statement on Saturday, the commission described the surge in unregistered terminals as a “reckless practice” that violates the provisions of the Companies and Allied Matters Act (CAMA) of 2020 and the…
Dangote Petroleum Refinery has announced plans to supply the market with 50 million litres of Premium Motor Spirit (PMS) daily, and a total of 1.5 billion litres monthly in December 2025 and January 2026, to ensure uninterrupted nationwide fuel availability through the festive season and into the New Year. President and Chief Executive of Dangote…
The Central Bank of Nigeria (CBN) has directed all banks, payment service banks, and other regulated financial institutions to immediately withdraw any advertisement or promotional material that fails to comply with existing consumer-protection and fair-marketing rules. The directive is contained in a circular issued on November 27, 2025, signed by Olubunmi Ayodele-Oni for the Director…
The Central Bank of Nigeria has proposed stricter sanctions for individuals who repeatedly issue dud cheques, including an automatic five-year ban each time a repeat offence occurs. The measure is part of a new exposure draft titled Guidelines on the Treatment of Dud Cheques by Banks and Other Financial Institutions in Nigeria, released on Monday…
The Manufacturers Association of Nigeria (MAN) has warned that the decision to ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles by 31st December, 2025 could lead to the loss of over N1.9 trillion investments by indigenous companies and 500,000 direct, and 5 million indirect jobs. The outcry follows…
The Dangote Petroleum Refinery has slashed its ex-gantry petrol price to N828 per litre. According to sources at the refinery, the price of the product was reduced by N49 from the prior price of N877 per litre. “The refinery reduced its petrol price to N828 per litre,” a source said. The development comes amid plans…
The Dangote refinery has re-employed the engineers sacked last month during the crisis between it and the Petroleum and Natural Gas Senior Staff Association of Nigeria. Our correspondent reliably gathered that the engineers were now being posted to Borno, Zamfara, Benue and others. The engineers, some of whom were still graduate trainees during their sack,…