…Denies Political Embellishments Yemisi Izuora The Nigerian National Petroleum Company Limited (NNPCL) has denied considering President Bola Tinubu’s personal interest when it entered into acquisition deal with OVH Limited. The denial was in response to a press release signed by Mr. Paul Ibe, a Media Adviser to the former Vice President, Alhaji Atiku Abubakar. In the statement, the former Vice President was quoted to have lamented “the criminal hijack of the NNPC by corporate cabals around the current President”. He was also quoted to have listed the retention of Mr. Mele Kyari as the Group Chief Executive Officer of NNPC…
Author: orientalnewsng
Yemisi Izuora The Nigerian National Petroleum Company Limited (NNPC) has said it is still active in oil exploration exploration activities in the Northern part of the country as expanded exploration is considered strategic to boost reserve amd production. The Company further reiterated its commitment to achieving the Federal Government’s aspirations in the frontier basins. “The company has been actively drilling in basins in and around Northern Nigeria, as a result of the need to increase oil exploration in the country’s frontier basins”. The Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, who shared the update said that “this is a…
L-R: Kelechi Atulomah, Internal Auditor, Professional Insurance Ladies Association (PILA), Kayode Adigun, Executive Director, Finance and Corporate services, Sovereign Trust Insurance Plc, Abimbola Onakomaiya, 15th President of PILA and MD/CEO of Peaktrust Insurance Brokers, Olaotan Soyinka, MD/CEO, STI Plc, Shola Osho, Social Secretary, PILA, Emmanuel Anikibe, Executive Director, STI Plc and Grace Olufunke Fadare, General Secretary, PILA, during the courtesy visit of the Professional Insurance Ladies Association to Sovereign Trust Insurance Plc on Tuesday, August 20, 2024. Members of the Professional Insurance Ladies Association (PILA) with some personnel of Emergency Response Africa, (ERA) flanked by the Managing Director/CEO…
L-R: Head, Corporate Communications, Polaris Bank, Mr. Rasheed Bolarinwa; National Treasurer, CIBN, Dr. Peter Ashade, FCIB; GMD/CEO, United Capital Plc, and Chairman Consultative Committee on 17 Annual Banking and Finance Conference, Mr. Oliver Alawuba, FCIB; President/Chairman of Council, Prof. Pius Deji Olanrewaju, Ph.D, FCIB; Registrar/CEO, Mr. Akin Morakinyo, FCIB; and Chairman, Media, Publicity & Stakeholders Sub-Committee on 17 Annual Banking and Finance Conference, Mr. Bashir. A Nuhu, FCIB at the World Press Conference to announce the CIBN 17th Annual Banking and Finance Conference.
The Director General (DG) of the Securities and Exchange Commission SEC, Dr. Emomotimi Agama, in this interview speaks on efforts by the Commission to address rising cases of unclaimed dividends. Agama, spoke shortly after attending the 2024 Capital Market Committee (CMC) meeting in Lagos. YEMISI IZUORA was there for Oriental News Nigeria Excerpt This is your first CMC meeting as DG, what are the highlights of your remarks at the meeting? Nigeria is certainly a developing and emerging market and an emerging market with the population we have must have a robust capital market that will help in development. It…
Helpster Charity US Inc., a nonprofit organization based in the US, is transforming healthcare access in Africa and Asia, using an innovative app and a web platform to give underprivileged children hope to live again. The Charity operates by finding those in crucial need and providing a mobile app and a web platform for fundraising to support the treatment of poor children living in remote regions through an impactful, transparent and efficient system, with the mission of ensuring that no child suffers or dies due to lack of financial means. Founded by a team of dedicated IT experts, Helpster Charity…
The Nigerian National Petroleum Company Limited, NNPCL on Monday announced a 28 per cent rise in annual net profit to N3.297 trillion ($2.14 billion) and declared a dividend. “Despite inherent challenges of our operational and economic environment, we have improved the productivity and the financial performance of this great company,” Chief Financial Officer Umar Ajiya said. The NNPCL declared a dividend of N2.1 trillion and said it would announce its initial public offering plans once shareholders and the board give their approval. The NNPCL said it is targeting 2 million barrels per day crude oil production by the end of…
Yemisi Izuora The Nigerian National Petroleum Company Limited (NNPC Ltd.) has denied media report that the company is indebted to international oil traders to the tune of $6.8bn and that it has not remitted revenues to the Federation Account since January, among other allegations. Making clarification on the issue, Chief Corporate Communications Officer of the Company, Olufemi Soneye, denied that NNPC Ltd. does not owe the sum of $6.8bn to any international trader(s). Soneye, stated that in the oil trading business, transactions are carried out on credit, and so it is normal to owe at one point or the other.…
Yemisi Izuora Nigeria’s insurance sector is showing tremendous interest in the Almond insurance industry award as more participation has been recorded in the 2024 edition. This year, the organisers have received a significant increase in participation from Insurance Industry Stakeholders with nominations rising to 392 compared to last year’s 101. The 288.12 per cent increase in participation in the nomination process is a testament to the growing recognition and prestige of the Almond Awards within and outside the Insurance Industry. Chairman Awards Panel of Judges Ms. Prisca Soares disclosed this at the Press Conference to Unveil Nominees in the 2024…
Yemisi Izuora Splat Energy Plc, has announces its unaudited results for the for the six months ended 30 June 2024, declaring US 6 Cents total dividend per share for the period. The energy company grew its profit before tax (PBT) to N244bn from N43.5bn Year-on-Year with cash generated hitting N308.2bn. The company’s production averaged 48,407 barrels of oil equivalent per day, boepd (6M 2023: 50,805 boepd), at midpoint of guidance (44,000 boepd – 52,000 boepd). Also, Seplat Energy advanced its operating profit to N285.2bn from N60.2bn Year-on-Year. It achieved more than 4.9 million hours without Lost Time Injury (LTI) at Seplat-operated assets in 6M…