Bolaji Jimoh Here is New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news making headlines from Monday, February 12 to Saturday, February 17, 2024.
JUST-IN: Access Bank Holdings Appoints Agbede As Acting Group CEO
Following the tragic demise of the Group Chief Executive Officer (CEO) of Access Holdings Plc, Dr Herbert Wigwe on Friday in the United States, the Board of Directors of the company has named Mrs Ms Bolaji Agbede as the Acting CEO.
This was contained in a statement issued by the company on Monday night and made available to New Telegraph in Abuja, saying Ms Agbede’s appointment… Read more
EU To Invest €37m In Solar, Hydro Power Projects In Nigeria
The European Union (EU) Head of Mission to Nigeria, Ambassador Samuela Isopi, on Friday, announced that the EU intends to invest €37 million in solar and hydropower systems in Nigeria.
She explained that this was aimed at enhancing healthcare centers… Read more
Nigerian Breweries to Increase Price Of Beer From Feb. 19
Nigerian Breweries Plc has issued a new price review notification to all its customers in the West Zone. In a statement, the company said the upward price review will take effect from Monday, February 19, 2024.
It noted that the increase is deemed necessary to offset the impact of increased… Read more
Naira Depreciates To N1,503.38/$1 On Official Market
The naira weakened slightly against the dollar on the official market Investors and Exporters’ (I&E) window-on Wednesday as it closed at N1,503.38/$1 compared with N1,499.07 per dollar on Tuesday, data from FMDQ Exchange shows.
On Monday, the naira had dropped to a record low of N1,534.39 per dollar on the official market but… Read more
Nigeria Retains OPEC’s Most Increased Crude Oil Producer In January
Nigeria retained the most increased crude oil producer of the Organization of Petroleum Exporting Countries (OPEC) for January 2024 according to OPEC’s Monthly Oil Market Report for January published on Tuesday.
Using OPEC crude oil production based on direct communication, Nigeria’s crude oil production increased by 91,000 barrels per… Read more
FG Generated N34.311TRN Through Remita In 7 Years
The Managing Director/ CEO of Remita, Mr. ‘Deremi Atanda, has disclosed that a total of N34.311 trillion in revenue was generated through the REMITA platform into the Federation Account between 2015 and 2022. Atanda disclosed this yesterday at the investigative hearing on ‘alleged revenue leakages through Remita platform and non-compliance substantively with standard operating procedure and other allied service agreement,’ by the House Public Accounts Committee (PAC).
While dismissing insinuations that Remita imposed additional fee apart from the approved N150… Read more
CAC, Palmpay Partner To Register 219,000 SMEs
The Corporate Affairs Commission (CAC) has partnered with Palmpay Nigeria Limited to register over 219,000 small businesses. The decision is in line with the Companies and Allied Matters Act (CAMA) 2020. Registrar-General of CAC, Hussaini Magaji, disclosed the plan at a media briefing on Thursday. Magaji said that 20 million small businesses- es would be registered by the end of 2024.
He recalled a recent collaboration between Moniepoint on… Read more
Naira’s Free Fall: Expert Counsels FG To Jettison Dollar for Int’l Trade
An economic expert, Professor AbdulGafar Ijaiya, has admonished the Federal Government of Nigeria to bypass the US dollar in its international trade transactions to save the economy from its over-reliance on the US dollar.
The erudite professor, who lectures in the Department of Economics, University of Ilorin, gave the admonition in Ilorin while fielding questions from journalists… Read more
SEC Takes Investors’ Education To Yobe
The Securities and Exchange Commission (SEC), the apex regulatory body saddled with the dual responsibilities of regulating and developing the Nigerian capital market, held a three-day capital market and investor clinic in Yobe State.
SEC said the exercise aimed to create awareness among the general public on e-dividends, dematerialization of shares certificates, and direct cash settlement payment… Read more
Climate Change: NNPCL/Total Energies JV Achieves Zero Gas Flare
In pursuit of meeting the targets of 20 per cent (unconditional) and 47 per cent (conditional) greenhouse gas emission reduction as contained in the nationally determined contribution under the Paris Accord signed by President Bola Ahmed Tinubu’s administration, the NNPC Ltd/To- talEnergies Joint Venture has achieved zero routine gas flare in all its assets.
This feat was announced on Thursday during an inspection tour of OML 100 in the South-eastern Niger Delta, off Port Harcourt, by a joint NNPC Ltd and TotalEnergies Team to… Read more
NUPRC To Relocate Units To Lagos
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that it is exploring the possibility of relocating its units to Lagos.
This was contained in a memo with reference no… Read more
FG Seeks Global Stakeholders’ Support To Improve Competence On AI
As part of effort to build solid Artificial Intelligence in Nigeria, the Federal Government has been seeking the support of global experts in training the Nigerian youths to be experts.
The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, said he had been engaging experts from abroad to improve the… Read more
FG Announces Selection Of Learning Managers For 3MTT Initiative
Following the announcement of the N1 billion partnership with IHS Nigeria to support the 3MTT Learning Community, the Federal Ministry of Communications, Innovation & Digital Economy has announced the 3MTT Community Managers for all 36 States in Nigeria and the Federal Capital Territory (FCT). IHS Nigeria stated that the selection of Learning Community Managers marks a significant milestone in its efforts to empower Nigeria’s tech talents.
These individuals will play a crucial role in managing and assisting participants in the 3MTT programme as they leverage the learning platform designed by IHS Nigeria. With their guidance… Read more
NIA Mourns Wigwe, Wife, Son
The Nigerian Insurers Association (NIA) has expressed sadness over the untimely death of the founding Group Chief Executive Officer of Access Holdings Plc, Dr. Herbert Wigwe, who died alongside his wife and son in an helicopter crash in the United States last Friday. A former Group Chairman of Nigerian Exchange Group, Abimbola Ogunbanjo, also lost his life in the crash.
The Association, in a statement signed by the Chairman, Olusegun Omosehin, said it extends its deepest condolences to the bereaved families, and the entire Access… Read more
CAC Targets Creation Of 50m Jobs From 2m Businesses
The Corporate Affairs Commission (CAC) has registered two million businesses with the potential of creating targeted 50 million jobs. Its Corporate Affairs Head, Hussaini Ishaq Magaji, confirmed the figure over the weekend at a meeting with the Minister of Industry, Trade and Investment, the Moniepoint Executive Director, Babatunde Olofin, in Abuja.
Magaji said Moniepoint box containing the proposed two million new businesses… Read more
