Aliko Dangote, Africa’s richest man, has seen his wealth more than double to $28 billion following the long-awaited opening of his Nigerian oil refinery, according to the Bloomberg Billionaires Index. The refinery is the world’s largest single-train facility, capable of processing a broad range of global crude types. It represents a monumental investment for Dangote,…
The Federal Government has granted permission to petroleum marketers to lift petrol directly from the Dangote refinery without going through the Nigerian National Petroleum Company Limited. This confirms the speculation that the NNPC will no longer be the sole off-taker of the Dangote fuel. In a statement on Friday, the Minister of Finance and Chairman…
Guaranty Trust Bank (GTB) has notified its customers of temporary disruptions in the bank’s digital banking services for 11 hours, beginning at 10:00 p.m. on Sunday, October 13th, and ending at 9:00 a.m. on Monday, October 14th. This was disclosed in a mail obtained by our correspondent on Wednesday. According to the statement, the transition…
Commercial bank customers in the Federal Capital Territory have urged banks to pay more attention to customer satisfaction than declaring massive profits. They spoke against the backdrop of some commercial banks making an estimated profit before Tax of N3.8 trillion in the first half of 2014. According to reports, the banks, which include Zenith Bank,…
Nigerian oil company, Oando Plc, has been shortlisted by the Trinidadian government as one of three final contenders to take over the country’s state-owned refinery, Petrotrin. The defunct company is a state-owned oil company in Trinidad and Tobago. The Trinidadian Finance Minister, Colm Imbert, disclosed this during a presentation of its national budget held on…
The Federal Government is set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under its naira-for-crude agreement, a report by Bloomberg stated on Monday. It said this significant development is expected to take place over the next two months, amounting to 24 million barrels of Nigerian supply between…
Michael Eja, the Director General of the Cross River State Lottery and Gaming Agency, has revealed that approximately 60 million Nigerians engage in gambling daily. Eja made this known during the launch of a new sports betting platform, Woskybet, in Abuja on Friday, emphasising the booming nature of the gambling industry in Nigeria, which is…
Despite the economic hardship being experienced by majority of Nigerians, banks’ vaults are bustling with customer deposits. The latest report of the Central Bank of Nigeria, CBN, on money and credit situation in the country shows that banks’ demand deposits in the first nine months of this year rose by 16.5 percent to N31.08 trillion…
Changpeng Zhao, the founder of Binance and a key figure in the global cryptocurrency industry, has been released. He was released from a California correctional facility after serving a four-month sentence for failing to enforce anti-money laundering protocols on his exchange. The 47-year-old, widely known as “CZ,” returned to the US from Dubai earlier this…
Oil marketers are seeking to deal directly with the Dangote Petroleum Refinery instead of buying the company’s Premium Motor Spirit, popularly called petrol, from the Nigerian National Petroleum Company Limited. Dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association of Nigeria said they had…