Ayobamiji Komolafe 
Business News Round-UP
Here is New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news making headlines from Monday, December 9 to Saturday, December 14, 2024.
CBN: No Expiry Date For Old Naira Notes
The Central Bank of Nigeria (CBN) has reiterated that all versions of the naira, including the old and new designs of the N1000, N500, and N200 notes, as well as the commemorative and previous designs of the N100 note, remain valid legal tender and will continue to be legal tender indefinitely.
In a statement released on Friday, the Acting Director of Corporate…Read more
Dangote Refinery, Neptune Oil Export PMS To Cameroon
In a landmark move for regional energy integration, Dangote Refinery and Neptune Oil jointly announced the first-ever export of Premium Motor Spirit (PMS) from Dangote Refinery, Africa’s largest oil refinery, to Cameroon.
This milestone, resulting from a strategic collaboration between…Read more
Nigeria Exits List Of Countries Owing Foreign Airlines
The International Air Transport Association (IATA) has removed Nigeria from the list of countries blocking airlines’ funds. IATA also stated that nine countries account for 83 per cent of the airline industry’s blocked funds, which would to $1.43 billion. In June, IATA confirmed that the Central Bank of Nigeria, (CBN), cleared foreign airlines trapped funds worth $831 million.
But while disclosing that Pakistan, XAF Zone, Bangladesh, Algeria, Lebanon…Read more
LG Ranked 97th With $6.5bn Brand Value In Best Global Brands 2024
LG Electronics (LG) has been ranked 97th with a brand value of approximately $6.5 billion in the Best Global Brands 2024 report by global brand consulting firm Interbrand.
Interbrand’s evaluation of the Best Global Brands assesses brand..Read more
Wema Bank Launches 12 Days Of Christmas Campaign To Reward Customers
In celebration of the festive season, Wema Bank has announced the launch of its Christmas campaign tagged, Wema 12 Days of Christmas.
The campaign is set to run from December 14th to 25th, 2024, bringing…Read more
Saudi Arabia Indicates Interest In Nigeria’s Steel Sector
Saudi Arabia has indicated an interest in Nigeria’s solid minerals. According to a statement yesterday by the Special Adviser to the Minister of Solid Minerals Development, Kehinde Bamigbetan, Nigeria and Saudi Arabia have initiated talks on extracting and processing iron ore into steel.
He stated that the Minister of Solid Minerals Development, Dele Alake…Read more
Report: Nigeria To Lose 37% Of GDP To Corruption By 2030
Nigeria could lose up to 37 per cent of her Gross Domestic Product (GDP) to corruption by 2030 unless it overhauled her transparency and accountability mechanism, a 2024 report by Agora policy revealed.
It said if corruption scourge is not dealt with immediately by…Read more
Port Harcourt Refinery Export: Group Faults NNPCL
The National Transparency Watch has faulted the Nigerian National Petroleum Company Limited (NNPCL) for failing to make the fair disclosures that Nigerians demanded following its admission of selling products from Port Harcourt Refinery to Dubai-based Gulf Transport & Trading Limited (GTT).
In a statement signed by the Coordinator of National Transparency…Read more
Seplat Energy Completes Acquisition Of MPNU
Seplat Energy Plc has announced that it has completed its acquisition of Mobil Producing Nigeria Unlimited (“MPNU”) from ExxonMobil.
It stated that the transaction is transformative for Seplat Energy, more…Read more
Foreign Portfolio Investment In Nigerian Equities Surges
Foreign portfolio investment (FPI) in Nigerian equities has climbed to its highest level since 2020, signalling renewed global interest in the nation’s financial markets.
According to the National Bureau of Statistics (NBS), FPI inflows into…Read more
FAAN Remits N218bn Into Federation Account In 5-Year
The Federal Airports Authority of Nigeria (FAAN) remitted N218.335 billion as internally generated revenue (IGR) and a total sum of N352.263 million as remittance on one per cent Stamp Duty to the Consolidated Revenue Funds Account (CRF) for the period of 2020 – 2024, Mrs Olubunmi Kuku, Managing Director of the Authority, has said.
She disclosed on Wednesday during a presentation before the…Read more
US Election, Grid Collapse, New Anthem Top Nigerians’ Google Search In 2024
The just concluded election of the United States, incessant grid collapse, the new Nigerian national anthem, and the personality of Bobrisky were the most searched on Google by Nigerians in 2024.
This was revealed by Google in its 2024 Year in Search for Nigeria releases…Read more
Power: Don Advises States To Establish Own Grids
A professor of Mechanical Engineering, Prof. Abubakar Sambo, yesterday advised states in Nigeria to establish their electricity markets so as to reduce the effect of frequent national grid collapses.
Sambo, while speaking at Malete while delivering the…Read more
Toyota By CFAO Offers Customers Free Hilux Pickups, Motorcycles To Seychelles
As the year draws to a close, Toyota by CFAO, an official distributor of Toyota vehicles in Nigeria, has launched an exciting End-of-Year Bonanza to reward both new and existing customers.
The promotion, which is open to corporate and individual clients, offers a..Read more
CIT Declines By 28.20 % In Q3,2024 At N1.77trn
The National Bureau of Statistics ( NBS) data confirmed a reduction in Company Income Tax ( CIT) by 28.20 per cent rate in quarter Q3 2024 at N1.77 trillion, on a quarter-on-quarter basis from N2.47 trillion in Q2 2024.
The highest contributions were from the manufacturing sector,…Read more
