The Nigerian National Petroleum Company Limited has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant. āGroup Chief Executive Officer of NNPC Ltd, Bayo Ojulari, made the announcement during a company-wide town hall meeting at the NNPC Towers in Abuja, ending…
Nigerian banks have resumed processing international tuition payments from Naira accounts through the Central Bank of Nigeria, CBNās Form A portal. Form A is an application form designed by the Central Bank of Nigeria to pay for service transactions (invisible trade). The form allows customers to purchase forex at the CBN or interbank rate to…
The Corporate Affairs Commission (CAC) has announced plans to delist 100,000 companies from its register over prolonged inactivity and non-compliance with statutory requirements under the Companies and Allied Matters Act (CAMA). According to a public notice issued by the Commission, the affected companies have been identified as either not carrying on business, inactive for at…
The European Union accused Chinese-founded online shopping giant Temu on Monday of breaking the blocās digital rules by not āproperlyā assessing the risks of illegal products. EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users….
Dangote Cement says Aliko Dangote, its majority shareholder and founder, has retired as the chairman of the cement manufacturer. In a statement on Friday, signed by Anthony Chiejina, the companyās group chief, branding and communications officer, Dangote Cement said the businessman relinquished the position to focus on Dangote Petroleum Refinery, petrochemical and fertiliser plant, as…
The Central Bank of Nigeria (CBN) has confirmed that eight Nigerian banks have met the minimum regulatory requirements under the current forbearance regime. This was disclosed by CBN Governor Yemi Cardoso during the Monetary Policy Committee (MPC) briefing held on Monday, July 22, 2025. āEight banks have surpassed the minimum required,ā Cardoso said in response…
First HoldCo Plc has officially denied reports linking its chairman, Femi Otedola, to the recent N323.4bn block sale of its shares, clarifying the actual parties involved in the transaction. In a statement signed by the First HoldCoās Company Secretary, Adewale Arogundade, on Friday, the company addressed rumours circulating in the print and digital media about…
Africa and Nigeriaās richest man, Aliko Dangote, is taking another major step in the expansion of his industrial empire with plans to construct a deep seaport near his existing fertilizer and oil refinery plants. The initiative is aimed at boosting export capacity and strengthening the Dangote Groupās logistics operations. Speaking in a recent interview in…
The Nigerian Petroleum Products Marketers Association of Nigeria has announced a plan to reduce the premium motor spirit price from Monday following Dangote Refineryās latest fuel ex-depot price reduction. The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this to DAILY POST in an interview on Friday. This comes as…
The president of the Dangote Group, Alhaji Aliko Dangote, has said that Nigeriaās state-owned refineries, located in Port Harcourt, Warri, and Kaduna, may never operate properly again despite about $18 billion invested in their rehabilitation. Alhaji Dangote disclosed this while hosting members of the Global CEO Africa, who visited the Dangote Petroleum Refinery yesterday. He…