Yemisi Izuora The Nigerian National Petroleum Company Ltd (NNPCL) has confirmed clearimg its outstanding $4.68 billion cash call debt to the five international oil companies operating in Nigeria. The Conpany said iit’s no longer owing any dues, a milestone achieved following the total removal of subsidy on Premium Motor Spirit(petrol). The Group Chief Executive Officer, of the Company Mele Kyari, made this known while speaking on Monday at the 42nd NAPE Annual International Conference & Exhibition in Lagos. The cash calls in Nigeria’s oil sector are funding requests by NNPCL and its joint venture partners—including companies like Mobil, Chevron, Shell, TotalEnergies, and…
Author: orientalnewsng
The Lagos Chamber of Commerce and Industry (LCCI) has acknowledged the transformative strides taking place at the Federal Inland Revenue Service (FIRS), saying that the Revenue Agency has moved from being a tax collector to a service provider. It also suggested five ways the Agency can create a unified tax system that will reduce redundancies and simplify tax compliance in Nigeria. Speaking during that FIRS Special Day at the ongoing Lagos International Trade Fair (LITF), themed “Connecting Businesses, Creating Value”, LCCI President, Mr Gabriel Idahosa, recommended five ways the Tax Agency can do this. According to him, “Targeted outreach, especially…
Yemisi lzuora Nigeria’s key financial institution FBN Holdings (FBNH) Plc, has expressed confidence that its N150 billion rights issue capital raise would be successfully concluded by first quarter of next year. Giving update on the exercise the Group Managing Director, of the prominent institution, Nnamdi Okonkwo, said every necessary steps have been taken to ensure a fruitful outcome. Okonkwo, stated this during the ‘Facts Behind the Rights Issue’ presentation at the Nigerian Exchange in Lagos. This strategic move signifies FBN Holding’s commitment to fortifying its financial position and capital base, which will in turn enhance its capacity to support various…
Moses Ofodeme In collaboration with Roam Media Concept, the Nigeria Customs Service (NCS) held a one-day training workshop for maritime journalists at the Apapa Area Command on Friday, 1 November 2024. The workshop, themed “Commercial Terms and Phrases in the Nigerian Maritime Industry,” aimed to update journalists on the latest industry terminology and best practices. Declaring the workshop open, the Comptroller General of Customs (CGC), Adewale Adeniyi, represented by Comptroller Dera Nnadi, in charge of Tincan Island Area Command, emphasised the critical role of maritime journalists in educating the public and setting industry standards. He stated, “The language of our…
Dangote Industries Limited (DIL) has restated its commitment to driving the diversification of Nigeria’s economy for growth and job prospects through strategic investments. This is just as the Lagos Chamber of Commerce and Industries (LCCI) described the Company as the pillar and strength of the nation’s economy with its many investments. Dangote said while it produces critical household items, some of its other products serve as either feedstock or raw materials for other manufacturers as a sure way of galvanizing the nation’s economic independent through industrialization. The Company’s position came from the Group Executive Director, Commercial Operations, Dangote Industries Limited…
Zenith Bank Plc has announced that it now boasts the best technology infrastructure in the banking industry, positioning itself to provide an exceptional customer experience and superior service delivery moving forward. This upgrade follows a recent comprehensive technology enhancement. The bank expressed its heartfelt gratitude to customers for their support and patience throughout the upgrade process, while also extending apologies for any inconveniences experienced during this time. This announcement was made in a social media post on Wednesday, signed by Dame Dr. Adaora Umeoji, OON, the Group Managing Director/CEO. In her message, the GMD/CEO emphasized the bank’s…
By Kingsley Femi Fanwo The Takete Ide Day 2024 might have come and gone, the echoes of the cultural beauty that graced the occasion has continued to touch our consciousness. It was a day that culture came out in its colourful garb, heralding the greatness of our powerful community. A Community Protected by the gods Our forebears believed strongly that the Takete Ide community was protected from being ravaged by war by the gods. Orisas like ‘otegun’, ‘Eetu’ and many others which still have the shrines in the ancient community till date were believed to be largely instrumental to fending…
The Commissioner for Insurance Mr. Olusegun Ayo Omosehin paid a courtesy call on the Governor of Ondo State Lucky Aiyedatiwa at his residence this morning after service at the State House Chapel, Akure.
Yemisi Izuora The Dangote Petroleum Refinery has denied receiving any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) to purchase refined petroleum products. However it admitted that discussions are ongoing with IPMAN, but that it is misleading to suggest that the Association is experiencing difficulties loading refined products from its refinery, as management of the facility currently has no direct business dealings with them. “Consequently, we cannot be held responsible for any payments made to other entities.” It said in a statement last night. The Refinery management clarified that payment in mention has been made through the Nigerian…
Yemisi Izuora Leadway Assurance, reaffirmed its leadership position as the company emerged as the Insurance Company of the Year at the prestigious 2024 Businessday Banks and Other Financial Institutions (BAFI) Awards. This recognition celebrates Leadway’s exceptional service, innovation, and enduring commitment to redefining insurance in Nigeria. The BAFI Awards, now in its 12th year, is known as the most rigorous and transparent award programme in Nigeria’s financial industry. It celebrates innovation, value creation, and the highest standards of excellence among financial institutions. The leading insurer’s win in this year’s category is a testament to the company’s continuous strides in driving…