News
Union Bank’s rights issue records 120% subscription
01-08-2018 | 14:17:00
Union Bank of Nigeria has announced that the Bank successfully raised N49.7 billion through a Rights Issue which closed on October 30, 2017 with subscriptions recorded at 120%.


Private equity-backed Viathan issues Nigeria's debut 10-year guaranteed naira bond
01-08-2018 | 12:00:13
Private equity-backed Viathan Group has issued Nigeria’s debut 10-year corporate infrastructure bond in local currency to raise 10 billion naira ($32 million) at a yield of 16 percent to fund power assets.


No plan to increase pump price of petrol - Nigerian National Petroleum Corporation
01-08-2018 | 09:47:46
The Nigerian National Petroleum Corporation has no plan to execute an increase in the pump price of Premium Motor Spirit, otherwise called petrol.


Construction commences for $1b Virgin City in Nigeria
01-05-2018 | 13:50:06
Construction of a US$1 billion project dubbed Virgin City has kicked off in Calabar Municipality in Nigeria’s Cross River State, Governor Ben Ayade has announced.


The alternatives to Nigeria's power situation - Richard Branson
01-05-2018 | 11:49:00
Energy access in Africa is close to my heart. Bringing clean, renewable power to people instead of building coal-fired power stations is absolutely essential if we are going to tackle climate change.


Nigeria Civil Aviation Authority lowers minimum visibility for 18 airports
01-04-2018 | 15:08:10
The Nigerian Civil Aviation Authority in conjunction with the Nigerian Airspace Management Agency has lowered minimum visibility for takeoff and landing of flights for 18 airports which have improved navigational aid.


MTN assigns $231m shareholder loan to IHS Holding
01-04-2018 | 11:05:00
MTN Group, Africa's biggest mobile phone operator, has said that it assigned a $231 million shareholder loan to phone tower group, IHS Holding Ltd, impacting its 2017 profits.


France invests €350m in Nigeria
01-04-2018 | 10:44:04
The Ambassador of the Federal Republic of Nigeria to France, Dr Modupe Irele, on Tuesday announced that France invested about N150 billion (350 million euros) in Nigeria in 2017.


Nigeria Government approves LPG extraction plant in Rivers State for Green Energy
01-03-2018 | 12:30:29
The Federal Government has approved the establishment of a Liquefied Petroleum Gas extraction plant at Ikuru Town in Rivers state for Green Energy International Ltd, the Operator of the Otakikpo marginal field in OML 11.


Zenith Bank Nigeria appoints two executive directors, an independent non-executive director
01-02-2018 | 14:08:00
The Board of Directors of Zenith Bank Plc. has approved the appointment of Dr. Temitope Fasoranti and Mr. Dennis Olisa as Executive Directors of the bank effective December 29, 2017.


9mobile sale deadline extended to January 16
01-02-2018 | 12:42:33
The conclusion of the sale process of 9mobile has been postponed till January 16, 2018, by both the Central Bank of Nigeria and the Nigerian Communications Commission.


NNPC distributes over 1.3 billion litres of petroleum products
01-02-2018 | 08:51:05
The Nigerian National Petroleum Corporation, through its Downstream subsidiary, the Petroleum Products Marketing Company, sold and distributed a total of 1.352.86 billion litres of white products across the country in October, 2017.


Airtime purchase costs Nigerians N2.68trn in 10 months
12-29-2017 | 15:41:25
Telecoms subscribers across mobile networks in Nigeria have devoted N2.68 trillion of their household income on purchase of airtime credit on their mobile device.


Dangote gets approval for $41m cement investment in Liberia
12-29-2017 | 12:35:00
Nigeria’s manufacturing giant, Dangote Cement, has received legislative approval from the Liberian Senate for the production of cement in the West African country.


Nigeria’s sales revenue from white products rise to N1.877 trillion
12-29-2017 | 09:16:49
A total sale of ₦151.42 billion was made on the petroleum products for white products by Petroleum Investment Management company in the month of September 2017, compared with ₦111.36 billion sold in the prior month of August 2017.


Central Bank of Nigeria suspends new clearing rules for banks
12-28-2017 | 12:57:00
The Central Bank of Nigeria has suspended a review settlement banking arrangement to all clearing sessions for banks and merchant banks, expected to begin January 2.


Rivers State Government, Shell Nigeria Gas sign MoU on gas supply to Industries
12-28-2017 | 09:56:00
The Rivers State Government and Shell Nigeria Gas (SNG) have signed a Memorandum of Understanding (MoU) for the distribution of gas to industries in the Greater Port Harcourt area and its environs.


NNPC attains 98 per cent automation of crude oil marketing operations
12-27-2017 | 11:15:00
The Nigerian National Petroleum Corporation (NNPC) has achieved 98 per cent automation of all transactions involving the supply, marketing and sale of the various grades and blends of Nigeria’s crude oil across the world.


Union Bank of Nigeria announces changes to its Board of Directors
12-27-2017 | 09:22:53
Union Bank of Nigeria has announced changes to the membership of its Board of Directors with the retirement of an Executive Director, Mr. Ibrahim Kwargana and the resignations of three Non-Executive Directors.


NNPC petroleum products distribution, sale increase by 29 per cent
12-20-2017 | 09:00:00
The Nigerian National Petroleum Corporation distributed and sold about 1.3billion litres of petroleum products throughout the country in the month of September, 2017.