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The seven biggest oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products generated by the $20 billion plant. Dealers affiliated with the Major Oil Marketers Association of Nigeria said on Sunday that with the registration, they will begin distributing fuel produced at the plant once the … Read more
The Central Bank of Nigeria (CBN) has appointed new executives to oversee the operations of Union, Keystone, and Polaris banks, just hours after announcing the dissolution of their boards and managements on Wednesday. The apex bank took steps to ensure the stability and continuation of the affected institutions in the face of restructuring. It stated … Read more
The Central Bank of Nigeria, CBN, sacked the boards of Titan Trust, Union Bank, Keystone Bank and Polaris Bank on Wednesday. Platinumpost reports that President Bola Tinubu has started the implementation of the report of the Special Investigator on Central Bank of Nigeria (CBN) and Related entities, Jim Obazee with the dissolution of the board … Read more
Chevron Nigeria Limited has appointed a new Chairman and Managing Director, Jim Swartz. This was contained in statement made available to Platinumpost on Wednesday by the firm’s General Manager, Policy, Government and Public Affairs Esimaje Brikinn. According to the statement, Swartz was appointed “as the Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, effective … Read more
The Nigerian National Petroleum Company, NNPC, Ltd says it recorded a profit of N2.548 trillion in 2022. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report stated that it recorded a loss of N803 billion in 2018 and … Read more
Cadbury Nigeria has offered to swap its $7.7 million (N7.03 billion) debt owed to Cadbury Schweppes Overseas Limited for more equity. Cadbury Schweppes Overseas Limited, controlled by Mondel–z International Inc, is a major investor in Cadbury Nigeria with 74.97 percent stake. In a statement on Tuesday sent to the Nigerian Exchange Limited, NGX Cadbury Nigeria … Read more
Access Holdings has surpassed the N1 trillion market capitalisation mark. At the close of trading on Tuesday, the share value of the company rose by 8.39 percent to N29.70 — from N27.40 on Monday. This raised Access Holdings’ market valuation to N1.05 trillion, up from N973.93 billion on Monday. The development comes a day after … Read more
The Central Bank of Nigeria, CBN, has suspended new applications of loans under the CBN development finance intervention funds programme, Access Bank Plc confirmed in a memo on Monday to its customers. The CBN existing development finance intervention funds program include Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Accelerated Agricultural Development Scheme (AADS), … Read more
United Bank for Africa (UBA) Plc, on Monday joined the elite group of companies with market capitalisation of over N1tn just as its share price value hits N29.90 per share. At the close of trading on Monday, the Bank’s market capitalization hit N1,022,562,698,843, making it the 3rd most capitalized financial institution in Nigeria, a remarkable … Read more
The Dangote Petroleum Refinery, on Monday, announced its readiness to commence production of refined petroleum products as it received the 6th batch of one million barrels of crude oil required by the plant for its initial operations. “Dangote refinery appears set to commence production of refined petroleum products with the receipt of the sixth batch … Read more