Yemisi Izuora Nigeria’s first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe clocked 60 years on Sunday July 28. Onyeali- Ikpe has been celebrated for her outstanding performance in the nation’s financial services sector that had earned her respect amongst banks’ top CEOs. Besides leading the bank to close the 2023 financial year with strong double-digit growth across key income and balance-sheet lines with profit before tax growing by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on Average Equity (RoAE) of 26.5% from 15.6% in 2022FY, her…
Author: Orientalnews Staff
Ken Okeke The Nigerian Air Force (NAF) aircraft under Operation Delta Safe, on 26 July 2024, carried out several strikes that led to the destruction of 12 illegal refining sites and 2 reservoirs located in Abia and Rivers States. In Umueze in Abia State,armed reconnaissance undertaken by the aircraft revealed several illegal refining sites situated in many fenced households. This information was subsequently relayed to ground troops for further exploitation and necessary action. Heading towards Owaza, 3 illegal refining sites were observed hidden under thick vegetations, which were subsequently destroyed. Thereafter, the crew followed the river line down to…
Yemisi Izuora Access Bank has been honoured at the Euromoney Awards for Excellence 2024, being named Nigeria’s Best Bank and Ghana’s Best Bank for ESG. These accolades highlight the Bank’s outstanding performance and commitment to sustainable practices across its operations in Africa. For over two decades, Access Bank has consistently demonstrated its ability to innovate and provide tailored solutions that meet the needs of its diverse clientele. The Bank has also shown leadership in Environmental, Social, and Governance (ESG) practices, serving as one of the continent’s leading lights in sustainable finance. Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank…
Tunde Bakare The Speaker of the House of Representatives Rt. Hon. Abbas Tajudeen, is to engage segments of the Nigerian youth groups and organisations at a town hall meeting on Wednesday at the National Assembly. The town hall is in furtherance of the Legislative Agenda of the 10th House, which prioritises sustained youth engagement and legislative measures to promote youth political participation, representation, and inclusion in governance and decision-making. Organised in conjunction with the YIAGA Africa and the Konrad Adenuer Stiftung (KAS), the town hall targets youth leaders and representatives from various youth organisations; students from tertiary institutions; young…
Yemisi Izuora In another round of Stanbic IBTC Reward4Saving 3.0 promo draws, 70 customers have been rewarded with cash prizes of ₦100,000 each. 10 winners were selected from seven zones during the 10th monthly draw held at the Bank’s head office in Victoria Island, Lagos. The ongoing Reward4Saving Promo has so far rewarded over 1,770 customers with a total of ₦283 million since 2021 when the initiative kicked-off. This promo aims to foster a culture of saving among Nigerians by recognising and rewarding individuals who consistently save. Sadiya Ojo, Head, Entrenchment at Stanbic IBTC Bank, thanked…
Moses Ofodeme The Independent National Electoral Commission (INEC) has sent an urgent request to political parties to submit the list of their agents by uploading the required information, including photographs, to the dedicated portal. The Commission said Timetable and Schedule of Activities for the election had been released by the Commission nearly a year ago specifically on 26th September 2023. As at yesterday, Sunday 28th July 2024, 14 political parties have uploaded the details of 38,354 polling agents and 819 collation agents for the Edo State Governorship election. The INEC, said Three parties are yet to upload a single…
Yemisi Izuora The Federal Government has asked the Nigerian National Petroleum Company Limited (NNPCL) to commence crude oil sale to Dangote refinery effective immediately to help ease foreign exchange pressure. The $20 billion Dangote refinery, started production in January but has struggled to secure enough crude to meet its 650,000-barrel-per-day capacity. Dangote previously had to buy oil on the international market, but it filed a complaint saying oil majors were blocking its access to locally produced crude by selling it above market price or claiming it was unavailable, forcing the refinery to rely on expensive imports. Authorities have asked…
Yemisi Izuora Lafarge Africa Plc is promoting safe environment through drastic carbon footprint reduction with the unveiling of ECOPlanet Unicem. The initiative is reportedly Nigeria’s first low carbon multipurpose cement. The innovative cement, designed with over 30 per cent reduction in CO2 emissions, signifies a major step in Lafarge Africa’s ongoing commitment to sustainable building solutions. Produced from its Mfamosing plant in Cross River State, ECOPlanet will be unveiled nationwide by the end of the year, as Lafarge Africa aims to double its market presence and enable low-carbon construction at scale. Speaking at the launch event in Enugu, the…
Valentine Okafor The Energy Information Administration (EIA) has said that higher gas demand from the electricity power sector for the rest of this year is expected to bolster natural gas prices nearly 40 per cent. The EIA is projecting prices to be around $2.90 per MMBtu up from the $2.10 average for the first half of the year. Producers saw prices north of $6.00 in 2022. A three per cent increase in demand in the first half of the year was likewise driven by the electricity power sector. Natural gas has seen more volatility than oil and coal. Accounting…
Joseph Bakare The Nigerian Electricity Regulatory Commission (NERC) has observed an improved safety record within the Nigeria Electricity Supply Industry (NESI), but said it is not satisfied with level of mandatory health and safety reports from licensees. In its Q1, 2024 report, NERC revealed that 23 persons died in electricity-related incidents in 55 accidents, while 31 persons were injured in the first three months of this year. During the period in review out of the 99 mandatory health and safety reports expected expected from licensees, only 82 reports were received. According to NERC, Power Generation Company (GenCos) licensees with…