The Independent Petroleum Marketers Association of Nigeria has raised concerns over the shortage of Premium Motor Spirit also known as petrol, affecting its members across the country amidst widespread scarcity. The umbrella body, which boasts over 3,000 members and controls a significant share of Nigeria’s filling stations, also accused the Nigerian National Petroleum Company Limited […]
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a meeting with the Implementation Committee on Monday, August 19, 2024, in Abuja. The sales of crude oil to Dangote Refinery and other local refineries in local currency will commence on October 1, 2024, according to the Minister of Finance and Coordinating Minister […]
A former relationship manager at First Bank of Nigeria (FBN) says loans worth billions of naira were transferred to companies related to Oba Otudeko, then chairman of the bank, even though they were granted in the name of other firms. Adesuwa Ezenwa is currently at the National Industrial Court (NIC), Lagos, division, claiming unfair dismissal […]
The Federal Inland Revenue Service (FIRS) says an executive bill which seeks to restructure revenue administration in Nigeria, including regulation of the cryptocurrency industry, is being drafted for transmission to the national assembly. Zacch Adedeji, FIRS chairman, spoke on Saturday at a stakeholders’ engagement with a joint committee of the national assembly in Lagos. According […]
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has called on members of the public, especially jobseekers, to discountenance rumours of employment slots for sale. In a statement obtained by Vanguard, Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd, stated that there is no iota of truth in the insinuations that it has employment slots […]
The federal high court in Abuja has ruled that the destruction of bottles of beer in some parts of the country is an economic sabotage. The verdict of the court followed a suit marked FHC/ABJ/CS/275/2021 filed by Sesugh Akume, an activist, against the attorney-general of the federation (AGF) and the Economic and Financial Crimes Commission […]
Guaranty Trust Bank Plc has confirmed an attempt to compromise its website domain. The hacking attempt occurred on Wednesday, just a day after the bank renewed its domain name, causing a temporary disruption to the website, which left customers unable to access online services. This led to widespread concern and media reports suggesting that the […]
National oil company, the Nigerian National Petroleum Company Limited, said it has uncovered and confiscated products from 63 illegal refineries in the past week. A documentary by the company on Wednesday, said in the past week, 19 illegal pipeline connections and 63 illegal refineries were uncovered in the Niger Delta. The company announced the development […]
President Bola Tinubu has approved the implementation of zero percent import duty and exemption of value-added tax (VAT) on basic food items. The ministry of finance confirmed the approval in a letter to the Nigeria Customs Service (NCS). More to follow…
The management of the Dangote Refinery has dismissed reports of a fixed petrol price of ₦600/litre, calling them “speculative announcements” with no basis. This was contained in a statement signed on Tuesday by the Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina. The denial comes following reports by some publications, that the […]
