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Finance & Economy - Page 109

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

Venezuela’s interim president, Delcy Rodríguez, has defended recent crude oil sales to the United States as strictly commercial transactions conducted through the state oil company, Petróleos de Venezuela, S.A. (PDVSA), insisting that pricing mechanisms follow international norms and that proceeds are being

February 13, 2026

Aiteo Cancels Surveillance Contracts With Security Companies Amid Security Breaches

Business·News·Oil & Gas

Aiteo Cancels Surveillance Contracts With Security Companies Amid Breaches

Indigenous oil firm, Aiteo Eastern Exploration and Production Company (AEEPCO), has revoked its contracts with surveillance security providers following cases of security breaches around its facilities. In a statement released on Monday, AEEPCO’s Group Managing Director, Mr. Victor Okoronkwo, said terminating the

July 2, 2024

Access ARM Pensions Holds AGM Friday 30 May

Business·Finance & Economy

Court Orders Meeting For Access Pensions Limited, ARM Pensions Managers Merger

High Court Directs Shareholders to Convene for Approval of Merger Scheme The Federal High Court in Lagos has ordered a meeting of the shareholders of Access Pensions Limited to consider and approve a merger with ARM Pension Managers (PFA) Limited. The meeting,

July 2, 2024

Business·News·Oil & Gas

Oil And Gas Sector’s Contribution To Nigeria’s GDP Less Than 10%- NUPRC

Oil and Gas Sector’s Low GDP Contribution The oil and gas sector in Nigeria contributes less than 10 per cent to the country’s Gross Domestic Product (GDP), according to Ofoegbu Kelechi, the Executive Commissioner of Corporate Service Administration at the Nigerian Upstream

July 2, 2024

Business·Finance & Economy

Nigeria’s Capital Importation: Banking Sector Records Highest Inflow In Q1 2024

Nigeria’s Banking Sector recorded the highest inflow with $2.06 billion, representing 61.24% of total capital imported in the first quarter (Q1) of 2024. According to a report on capital importation in the first quarter of 2024 released by the National Bureau of

July 2, 2024

CPPE Highlights What Must Be Done To Sustain Disinflation In Nigeria

Business·Finance & Economy

Pharmaceuticals Tax Waivers: We Need Same In Other Sectors – CPPE

The Centre for the Promotion of Private Enterprise (CPPE), has commended President Bola Tinubu’s government for the recent Executive Order waiving taxes such as import duties, VAT, and excise duties on pharmaceutical raw materials, intermediate products, medical diagnostic equipment and machineries. According

July 1, 2024

Nigeria's Diaspora Remittances Decline by %

Business·Diaspora·Finance & Economy·News

Nigeria’s 2023 Diaspora Remittances Decline By 2.9%, Remains Highest In Sub-Saharan Africa

Diaspora remittances to Nigeria declined by 2.9 per cent from $20.1 billion in 2022 to $19.5 billion in 2023. According to a World Bank report, Nigeria captured approximately 35 per cent, becoming the highest recipient in Sub-Saharan Africa in 2023. The government

July 1, 2024

Dangote Refinery: Of Hopes, Drools And Jokes

Oil & Gas·Opinion

Dangote And The Fairy Tale Of Fuel Refining: Will The Odds Permit?

News of an unexplained fire incident at a portion of the Dangote Refinery on 26th June was a sad commentary to an already stressed company. Yet, it only supported fears that the odds will always be against the success of the refinery.

June 29, 2024

Energy, Exchange Rate, Transportation Top Three Drivers Of Inflation In Nigeria - CBN Survey

Finance & Economy·Opinion

CBN: Strengthening Banks And The Financial System

The banks’ recapitalisation policy scheduled for March 2026, by the Central Bank of Nigeria (CBN), is a proactive and commendable policy that aims at enhancing the solidity of banks in driving the economy for greater impact in a globalized world with fast

June 29, 2024

Forex Crisis: CBN Sells $122.67m To 46 Authorised BDC Operators

Business·Currency·News

CBN Revises Guidelines For Foreign Currency Deposits

The Central Bank of Nigeria (CBN) has released new guidelines for the deposit of foreign currency notes by Deposit Money Banks (DMBs). In a circular dated 27 June 2024 signed by CBN’s acting director, Currency Operations Department, Mohammed Olayemi, the apex bank

June 29, 2024

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Finance & Economy

Nigeria’s External Reserves Rises To $34bn, Highest Since March

Nigeria’s external reserves has surged to $34.07 billion in June. This was revealed in the latest forex reserves data published by the Central Bank of Nigeria (CBN) on its official website. The figure marks the highest level since March 2024. Prime Business

June 28, 2024

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Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

U.S. President Donald Trump has threatened to impose 100 per

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Nigeria’s customs authority has introduced new rules for courier companies

Behind the Geregu Power Sale: Politics and a $750m Deal

The sale of Geregu Power, one of Nigeria’s largest electricity

Recapitalisation: UBA Extends Deadline For Rights Issue

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

United Bank for Africa (UBA) has successfully concluded its rights

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Finance & Economy - Page 109

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

Aiteo Cancels Surveillance Contracts With Security Companies Amid Breaches

Court Orders Meeting For Access Pensions Limited, ARM Pensions Managers Merger

Oil And Gas Sector’s Contribution To Nigeria’s GDP Less Than 10%- NUPRC

Nigeria’s Capital Importation: Banking Sector Records Highest Inflow In Q1 2024

Pharmaceuticals Tax Waivers: We Need Same In Other Sectors – CPPE

Nigeria’s 2023 Diaspora Remittances Decline By 2.9%, Remains Highest In Sub-Saharan Africa

Dangote And The Fairy Tale Of Fuel Refining: Will The Odds Permit?

CBN: Strengthening Banks And The Financial System

CBN Revises Guidelines For Foreign Currency Deposits

Nigeria’s External Reserves Rises To $34bn, Highest Since March

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Finance & Economy - Page 109

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