We knew nothing about naira redesign, says Finance Minister The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has stated cleary that she knew nothing about the recent decision of the Central Bank of Nigeria (CBN) to redesign some naira notes. She spoke barely 48 hours after CBN Governor Godwin Emefiele announced that…
Kyari in Seoul Promises Improved Fiscal Competitiveness, Regulatory Stability The Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari was among the presidential delegates who had engagements with Korean business community in Seoul, South Korea. Kyari told the business community in Seoul that improved fiscal competitiveness, regulatory stability and…
NAPIMS says Report of Spent N89.9bn on Public Relations is False Recently, there were reports in some media that the management of the National Petroleum Investment Management Services (NAPIMS) spent the sum of N89.9bn on ‘Public Relations’ in 2021. The Report had claimed that the amount represented an increase of 335 per cent against the…
Shell Declares $9.5 Billion Profit Oil giant, Shell has declared $9.5 billion in earnings from its operations in the third quarter of 2022. This is even as the oil giant announced a new share buyback programme resulting in an additional $4 billion of distributions, which we expect to complete by our Q4 2022 results announcement….
Seplat Energy grows Q3 PBT by 90.3% to N77.5bn …Cash generated from operations hits N154bn, rising by 124.7% Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces its unaudited results for the nine months ended 30 September 2022, recording a rise in…
Central Bank Redesigns Naira Notes The Central Bank of Nigeria (CBN) says it will redesign N200, N500 and N1000 Naira notes. CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in Abuja. Emefiele who said issues of the new designs will take effect from Thursday, December 15, 2022, added that existing notes would…
Akobo Minerals breaks ground on Segele Gold Mine Akobo Minerals (Euronext Oslo – “AKOBO”), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has broken ground at its Segele gold mine. This marks an important milestone on the path to gold production in early 2023. Jørgen Evjen, CEO of Akobo Minerals,…
Wabote Commissions GIL Automation’s factory, charges oil firms on diversification, energy transition The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote on Thursday in Lagos performed the commissioning of GIL Automations’ cable tray and switchgear factory and the opening of its new building. The company offers an array…
A World Facing Too Many Headwinds The prices of petroleum products have been at their highest since 2014 after Russia invaded Ukraine in fears it would receive approval to join the North American Treaty Organization (NATO), a security alliance spearheaded by Russia’s major geopolitical rival, the United States. As the Eastern European country accounts for…
First Bank Blazing The Trail for The Energy Sector Ever since the Petroleum Industry Act (PIA) came to into existence which is to strengthening administrative governance in the oil and gas industry, stakeholders have embraced the Act. Amazing Science, isn’t it? One of the major stakeholders of the energy sector is the financial institutions…
