Oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have rejected the decision by Dangote Petroleum Refinery to sell refined petroleum products in dollars instead of naira. PETROAN Calls for Government InterventionPETROAN urged the Federal Government to intervene and ensure that fuel transactions within Nigeria are conducted in local currency. The
There was high drama at the Federal High Court in Lagos on Wednesday as a businessman, Sunday Okorie, collapsed in the dock while standing trial for alleged money laundering and possession of counterfeit foreign currency. Okorie had been arraigned on Tuesday, March 25, by the Economic and Financial Crimes Commission (EFCC) on a four-count charge
A raging fire has destroyed goods worth millions of naira at the popular Iweka Road, near Ochanja Market in Onitsha, Anambra State, following a night inferno that broke out on Tuesday. According to eyewitness reports, the fire started at approximately 8:30 pm, gutting several shops and reducing valuable merchandise to ashes. Traders, most of whom
The Bank of Industry (BOI) has officially designated FIC Professionals Network Plc as a Business Development Service Provider (BDSP) to support small and medium-sized enterprises (SMEs) in accessing credit and strengthening their operations. In a statement on Tuesday, FIC noted that BDSPs play a crucial role in BOI’s mandate of providing long-term financial support and
In a bid to strengthen financial resilience and ensure long-term wealth sustainability, Stanbic IBTC Bank has reaffirmed its commitment to providing Nigerians with strategic financial planning solutions. The bank emphasized the importance of sustainable wealth management, particularly in today’s evolving economic landscape. The Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, made this known in
In a bid to revolutionize financial literacy and engagement, digital bank Bankit Africa has integrated gamification into its services, enabling customers to earn rewards while managing their finances. Bankit Africa’s Chief Executive Officer, Yen Choi, revealed the strategy in a statement on Monday, emphasizing how gamification can transform banking from a routine activity into an
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has convened a stakeholders’ meeting to address mounting concerns over the Financial Reporting Council of Nigeria (FRCN) annual levy, which has sparked outrage among business groups, particularly the Manufacturers Association of Nigeria (MAN). The move comes in response to strong opposition from industry leaders over
In a groundbreaking achievement, Dangote Refinery has successfully shipped 1.7 million barrels of jet fuel to the United States, defying the odds amidst Nigeria’s ongoing petrol trade crisis. According to reports, six vessels carrying the jet fuel arrived at US ports this month, with another vessel, Hafnia Andromeda, set to arrive at the Everglades terminal
The Federal Government has unveiled plans to establish a large-scale cattle ranch in Niger State in collaboration with JBJ Brazil, one of the world’s leading cattle ranching companies. Minister of Livestock Development, Idi Mukhtar, made this known during a visit to Governor Umaru Bago in Minna on Monday, accompanied by representatives from JBJ Brazil. The
The Nigerian Exchange Limited (NGX) witnessed a sharp decline in trading activity in February 2025, as total transactions fell by 16.07 percent to N509.47 billion, down from N607.05 billion recorded in January. The decline was largely driven by a 40.36 percent slump in foreign investor transactions, which dropped from N71.51 billion to N42.65 billion during
