JUST-IN: First Bank Reacts To Report Of Losing N7 Billion To Fraud Incident

GISTSMATE MEDIA gathered that First Bank of Nigeria (FBN) has denied having any record of fraud incident in its institution. The bankโ€™s statement follows a recent media report which claimed that the bank lost N7 billion to a fraud incident. According to the report, the incident, which reportedly began several months ago, involved the unauthorisedโ€ฆ

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FLASH: NNPC Reduces Petrol Pump Price

The Nigerian National Petroleum Company Limited (NNPCL), has reduced the pump price of Premium Motor Spirit (PMS), also known as petrol across its retail outlets. According to Tribune Online correspondent who visited the NNPCL retail outlets in Ibadan observed that petrol, which was sold between N1,025 to N1,040 per litre, has been reduced to N1,015โ€ฆ

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BREAKING: Petrol Landing Cost Crashes Further

The estimated landing cost of Premium Motor Spirit (PMS), commonly known as petrol, in Nigeria has seen a decline of โ‚ฆ36, dropping to โ‚ฆ900.28 per litre as of Thursday. This marks a 3.62% decrease from the previous weekโ€™s landing cost of โ‚ฆ936.75 per litre, according to data released by the Major Energy Marketers Association ofโ€ฆ

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Naira Gains Rapidly Against Dollar As Sellers Struggle To Find Buyers

The exchange rate between the naira and the dollar continued its rapid appreciation on the official EFEM market, closing at N1,535/$1 on Friday, December 6, 2024. This marks a significant milestone, as the naira strengthens further following three consecutive days of appreciation since the Central Bank of Nigeria (CBN) introduced the Enhanced Foreign Exchange Marketโ€ฆ

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FLASH: NNPC Shuns Local Market, Begins Export Of Petrol From Port Harcourt Refinery To Dubai

The Nigerian National Petroleum Company (NNPC) has begun the export of petrol from the Port Harcourt Refinery to Dubai, shunning the local market. The Port Harcourt Refinery which began operations in November following rehabilitation shipped its first export of petroleum products to Dubai, with the company expected to load the cargo onboard the Wonder Starโ€ฆ

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After 65 Years, Swiss Multinational Exits Nigeria, Sells Lafarge Africa For $1 Billion 

After more than six decades of operations in Nigeria, Swiss multinational Holcim has announced its decision to exit the country. Holcim, a global leader in innovative and sustainable construction solutions, disclosed plans to sell its 83.8% stake in Lafarge Africa Plc to Chinaโ€™s Huaxin Cement in a transaction valued at $1 billion. The deal, whichโ€ฆ

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BREAKING: FG Begins N50 Electronic Levy Deductions From Opay, Moniepoint, Othersโ€™ Users

The federal government has commenced N50 electronic levy deductions from transactions of N10,000 and above made by users of financial technology (Fintech) companies, including Opay, Moniepoint, Kuda, and others. The levy, called Electronic Money Transfer Levy (EMTL), introduced under the Finance Act 2020, places a singular and one-off levy of N50 on the recipient ofโ€ฆ

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