The Nigerian National Petroleum Company Limited, on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year. NNPCL disclosed this in a document titled, ‘Frequently Asked Questions – Project Gazelle’, released by its Chief Corporate Communications Officer, Olufemi Soneye,…
The Dangote Petroleum Refinery is to supply fuel to about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria following a meeting between the management of the refinery and executives of IPMAN. Last week Monday, The PUNCH exclusively reported that IPMAN had scheduled a meeting with the management of Dangote refinery as…
Abbey Mortgage Bank Plc has expressed worry over the high non-performing loans in the mortgage industry. The Managing Director of the bank, Mobolaji Adewumi, stated this on Thursday during a ‘Facts Behind the Figures’ presentation at the Nigerian Exchange Limited. He said, “For mortgage banks, the NPLs are quite high. In 2020, when VFD Group…
Wema Bank has denied claims that it is distressed just as Union Bank of Nigeria says it is not shutting down operations on Friday (today). In a statement, Wema Bank said that there was no truth to the claims made in some sections of the media (Not The PUNCH). “Rather than bow to pressure from…
The newly appointed Managing Director and Chief Executive Officer of Keystone Bank Limited, Mr. Hassan Imam, has reassured the bank’s customers of the safety of their funds and effective service delivery. Imam gave the assurance in a statement released on Thursday and pointed out that the recent leadership change in the bank did not affect…
An indigenous operator in the Aviation sector, NAEBI Dynamic Concepts Limited is acquiring additional equipment to enhance its service delivery. The Company is acquiring Information Technology Tracking Devices , Body-worn Cameras , Control Room complete Facility Rack fitted amongst other support Information Technology Facilities that will capture and relay data for Helicopters flying in and…
Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and it’s shareholders for the acquisition of a majority equity stake in FTB. According to a statement signed by the Company Secretary, Sunday Ekwochi, which was filed with the Nigerian Exchange Limited on Wednesday,…
The Nigerian National Petroleum Company Limited says it has in the past one week uncovered no fewer than 83 illegal refineries in the Niger Delta. The NNPCL disclosed this on its X handle on Tuesday, as part of its war on crude oil theft, saying 15 illegal pipeline connections were also discovered within the same…
FIDELITY Bank has launched a creative writing competition for secondary school students dubbed Read2Lead. It is part of bank’s Corporate Social Responsibility initiatives designed to empower Nigerian youths with quality education. Themed Read2lead, the three-stage competition would see secondary school students hone their reading and writing skills while competing for millions of naira in cash…
