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Finance & Economy - Page 216

Tinubu Signs Executive Order Redirecting Oil, Gas Revenues to Federation Account

President Tinubu has signed an Executive Order mandating the direct remittance of oil and gas revenues to the Federation Account, in a sweeping fiscal move that alters key revenue-retention provisions under the Petroleum Industry Act (PIA), Prime Business Africa reports. The order,

February 19, 2026

Concerns For Nigerian Tech Companies As 2 Big U.S Banks Fail In One Week

Business·Finance & Economy·News·Technology

Concerns For Tech Startups As 2 Big U.S Banks Fail In One Week

African and Nigerian tech start-ups could be affected by the wildfire of banking collapse in the United States of America. At least two big banks – Silicon Valley Bank (SVB) and New York-based Signature Bank experienced a run last week, forcing regulators

March 13, 2023

Business·Finance & Economy·World News

Signature Bank Falls: U.S Records Third Largest Bank Failure In History

The United States banking sector recorded its third largest failure in history on Sunday when state regulators closed New York-based Signature Bank two days after authorities shuttered Silicon Valley Bank in a collapse that trapped billions in deposits, according to a Reuters

March 13, 2023

Seplat Shareholders Demand Sack Of CEO, Board Amid Legal Fees Controversy

Business·Oil & Gas

Seplat Appoints Samson Ezugworie To Replace CEO, Roger Brown

Seplat Energy has appointed the company’s Chief Operating Officer, Samson Ezugworie, as its interim Chief Executive Officer, pending the determination of a court case against Roger Brown. Prime Business Africa previously reported that aggrieved stakeholders petitioned a Federal High Court in Lagos,

March 11, 2023

Business·Oil & Gas

NCDMB, BOI Launch $50m Fund For Oil Industry Manufacturing

The Nigerian Content Development and Monitoring Board (NCDMB) and Bank of Industry on Wednesday in Lagos launched a $US50 million dollars fund for NOGAPS Manufacturing Product Line. The fund is to incentivize companies that would operate in the Nigerian Oil and Gas

March 10, 2023

Business·Oil & Gas

Court Restrains Roger Brown From Operating As Seplat CEO Amid Racism Allegation

A Federal High Court in Lagos State presided by Justice Chukwuejekwu Aneke, has ordered Roger Brown to vacate his Chief Executive Officer (CEO) position at Seplat Energy Plc. This was in response to a motion ex parte filed by applicants and petitioners;

March 10, 2023

Nigeria Week Ahead: CBN Rate Decision, Inflation & Oil in Focus

Business·Oil & Gas

Nigeria Earns About $104.58 million Daily From Crude Oil, As Output Skyrockets

Nigeria earned at least $104.58 million daily from crude oil in February 2023, as Africa’s largest oil producer pumped 1.3 million barrels per day. The 1.3 million barrels produced daily last month is the highest crude oil produced by the country in

March 10, 2023

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

Business·Currency

Official Market’s Dollar Rate Falls, Projected To Rise After Presidential Election

The Dollar rate in the Investors and Exporters (I&E) window of the official market closed down at N461.25 on Wednesday, 8 March 2023. According to data from FMDQ Securities, the exchange rate between the Dollar and the Naira closed below the previous

March 9, 2023

Business·Oil & Gas

Seplat Energy Defends CEO, Roger Brown, Amid Series Of Allegations

The board of directors, Seplat Energy Plc, have thrown their weight behind the company’s Chief Executive Officer, Roger Brown, after a series of allegations made against him by the Federal Government. In a letter dated 3 March 2023, written to Seplat’s board,

March 9, 2023

Business·Oil & Gas

FG Accuses Seplat CEO, Roger Brown, Of Racism, Withdraw His Visa

The Federal Government has revoked the work permit, visa, and residence permit of the Chief Executive Officer (CEO) of Seplat Energy Plc, Roger Brown. Nigerian government said Seplat workers accused Brown of racism and favouring foreign workers. He allegedly discriminates against Nigerian

March 9, 2023

Business·Oil & Gas

Election: Oil Marketers Reveal Fuel Movement Stopped Over Fear Of Crisis

The National Vice President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, said the fuel scarcity in the country is driven by fear of electoral violence. Maigandi disclosed that oil marketers in the Northern states of Nigeria have suspended their journey

March 8, 2023

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Finance & Economy - Page 216

Tinubu Signs Executive Order Redirecting Oil, Gas Revenues to Federation Account

Signature Bank Falls: U.S Records Third Largest Bank Failure In History

Seplat Appoints Samson Ezugworie To Replace CEO, Roger Brown

NCDMB, BOI Launch $50m Fund For Oil Industry Manufacturing

Court Restrains Roger Brown From Operating As Seplat CEO Amid Racism Allegation

Nigeria Earns About $104.58 million Daily From Crude Oil, As Output Skyrockets

Official Market’s Dollar Rate Falls, Projected To Rise After Presidential Election

Seplat Energy Defends CEO, Roger Brown, Amid Series Of Allegations

FG Accuses Seplat CEO, Roger Brown, Of Racism, Withdraw His Visa

Election: Oil Marketers Reveal Fuel Movement Stopped Over Fear Of Crisis

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