The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has partnered with the Bank of Industry (BOI) to sign a Memorandum of Understanding (MoU), for the disbursement of a N75bn intervention fund to support Micro, Small, and Medium Enterprises (MSMEs) nationwide. The deal was sealed on Thursday, between the NACCIMA President, Dele…
The Federal Government has announced the removal and implementation of zero import duty and Value Added Tax (VAT) on all machinery, equipment and spare parts imported for gas utilisation in the country. The exemption also includes equipment for Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG). Other items under the zero-rated VAT include feed…
The Central Bank of Nigeria (CBN) has set a daily withdrawal limit of N100,000 per customer on point-of-sale (PoS) terminals. The restriction, in line with the apex bank’s ongoing efforts to advance a cash-less economy, will help address identified challenges, combat fraud and establish uniform operational standards across the industry. The restriction was contained in…
Barbara Bako, Abuja. Jaiz Bank successfully listed N10.04 billion from its private placement on the Nigerian Exchange Group (NGX) after receiving regulatory approvals from the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), and NGX. According to a statement released by the Bank on Tuesday, this achievement puts Jaiz Bank among the…
In a significant boost for Nigeria’s oil industry, Vice President Kashim Shettima has joined the Oriental Energy Resources Limited to unveil The $315 million Floating Production, Storage, and Offloading (FPSO) vessel, which aligns with President Bola Ahmed Tinubu’s oil sector reforms policy. The FPSO vessel, with a storage capacity of one million barrels, which will…
The Dangote Petroleum Refinery has unveiled a landmark partnership with Neptune Oil to launch its inaugural export of Premium Motor Spirit (PMS) to Cameroon. In a statement on Wednesday, the refinery highlighted that the collaboration demonstrates both companies’ dedication to addressing the region’s increasing energy needs and fostering economic ties. “This milestone, resulting from a…
Zenith Bank Plc has been recognized as the ‘Bank of the Year, Nigeria’ at the esteemed Banker’s Bank of the Year Awards 2024. Organized by The Banker magazine, a Financial Times Group publication, the award was announced at a ceremony in London on December 4, 2024. The award recognizes Zenith Bank’s strong management, sound business…
…Invites Doubters for Facility Tour The Nigerian National Petroleum Company Limited (NNPC Ltd.) has insisted that the Old Port Harcourt Refinery is now up and running, with loading operations in full swing. According to Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd. The Group Chief Executive Officer, Mr. Mele Kyari, gave the confirmation at the…
Amid ongoing cash scarcity causing a widespread strain nationwide, the Central Bank of Nigeria (CBN) has released a list of contact details for customers to report issues with accessing cash either over the counter or at automated teller machines (ATMs). This move according is part of efforts to ensure efficient currency circulation and to enforce…
The Group Chief Executive Officer, Nigerian National Petroleum Company Ltd. (NNPCL), Mele Kyari, has reiterated the organisation’s commitment to advancing local content development in Nigeria’s energy sector and driving sustainable growth of the industry. According to a statement signed by the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, Kyari disclosed this at the ongoing 13th…
