The Nigerian National Petroleum Company Limited has constructed a 150 million litres storage facility for the Port Harcourt Refining Company ahead of full operations of the plants, the company stated on Wednesday. It said the storage facility was constructed in Atlas Cove, adding that the company had signed Build, Operate and Transfer agreements for the…
Alcohol “will be sold to non-Muslim diplomats” who previously had to import alcohol via a diplomatic pouch, one of the sources said. Prohibition has been the law of the land in Saudi Arabia since 1952, shortly after one of King Abdulaziz’s sons got drunk and, in a rage, shot dead a British diplomat. Rumours have…
Africa’s Global Bank, United Bank for Africa Plc says it has continued to elevate its global standing, coveting several prestigious international awards, signaling the Bank’s continuous contributions to the economic development of Africa. The bank in a statement said the recognition of its outstanding performance reaffirmed its status as a leading player in the financial…
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…
