The Federal government through the National Data Protection Commission has slammed Fidelity Bank with a fine of N555.8 million for violating customer data protection laws. This announcement was made by the commission’s National Commissioner, Vincent Olatunji, at the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive in Abuja on Wednesday….
The Federal Government has disclosed that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement during a meeting with the Implementation Committee on Monday in Abuja. According to a post on the official…
The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700 billion (28%) when compared to the 2022 profit of N2.548 trillion. In a world press conference held at the NNPC…
Oil marketers have attributed this round of scarcity of Premium Motor Spirit (PMS) also known as petrol, to lingering logistics challenges and supply constraints, saying “We will distribute only what we have”. This was disclosed by the President of the Petroleum Products Retail Outlets Owners Association, (PETROAN), Billy Gillis-Harry who was a guest on Channels…
The federal government says its dollar-denominated domestic bond will be issued on Monday. Gbadebo Adenrele, managing director of investment banking, at United Capital Group, spoke on Thursday during a hybrid roadshow with investors organised by the Debt Management Office (DMO). On July 25, the federal government said it would issue $500 million in domestic foreign…
GTBank, a leading Nigerian financial institution, has said those who tried to compromise its website were not successful. The bank said this following an incident which made its website inaccessible, on Wednesday night. Some customers had taken to social media to lament their inability to access the website. Daily Trust also made multiple attempts to…
Suspected cybercriminals have launched a brazen attack against GTBank, one of Nigeria’s banking giants, hijacking its website and threatening the security of countless customers. Late Wednesday night, investigations by Peoples Gazette revealed that the bank’s official domain, gtbank.com, had inexplicably gone dark. This alarming incident came just a day after the domain name was secured…
The founder and chairman of Heirs Energies, Mr Tony Elumelu has asked the Nigerian government and security agents to disclose those behind oil theft in the country. Elumelu spoke in an interview published by the Financial Times (FT) on Friday. Elumelu said oil theft contributed to the divestment of international oil companies in Nigeria. “Who…
To enhance liquidity in the foreign exchange market, the Central Bank of Nigeria, CBN, said it has successfully conducted a Retail Dutch Auction System (rDAS) sale, resulting in the approval of bids valued at $876.26 million from 26 authorised dealer banks. According to a statement by the Director of the Financial Markets Department at the…
GISTSMATE MEDIA reports that the Central Bank of Nigeria, CBN on Tuesday announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and the Providus Bank Limited. The apex bank, in a statement by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the move is designed to…