For the third time in a row, Dangote Group has emerged the Most Valuable Brand in Nigeria, the outcome of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” revealed. A brief summary of the 2020 report reveals that Dangote Group topped the list of the Most Valuable Brand 2020, followed by … Read more
NOVEMBER 14, 2020 The Nigerian National Petroleum Corporation (NNPC), on Friday, said the “slight increase” in the ex-coastal price and ex-depot price of Premium Motor Spirit, widely known as petrol, is due to the “prevailing realities of market forces of demand and supply.” The NNPC made its position known in a statement signed by its … Read more
NOVEMBER 13, 2020 President Muhammadu Buhari has signed the Banks and Other Financial Institutions (BOFI) Act 2020. This is according to statement issued on Friday by the Senior Special Assistant to the President on Media, Garba Shehu. “This monumental piece of legislation is expected to enhance the soundness and resilience of the financial system for … Read more
NOVEMBER 13, 2020 … Marketers to sell at ₦168 – ₦170/litre The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to ₦155.17 per litre from ₦147.67 per litres. PUNCH reports that the PPMC disclosed this in an internal … Read more
NOVEMBER 11, 2020 The management of Dangote Group has described reports that the company was granted sole approval to export cement through Nigeria’s land borders as “misleading”. In a statement, on Tuesday, the company said it was not the only company enjoying such privilege to move goods through the land borders. The Nigerian government had … Read more
NOVEMBER 9, 2020 The Bank of Industry (BOI) has expressed its readiness to provide credit facilities amounting to one billion naira in a bid to empower entrepreneurs in Ekiti State. BOI Manager (Ondo and Ekiti states), Seyi Ashaolu, said the bank was ready to give loans worth ₦1 billion to individuals with excellent enterprise, adding … Read more
NOVEMBER 9, 2020 The Major Oil Marketers Association of Nigeria has said the recent fire outbreak at the depot of one of its members, OVH Marketing Limited, will not cause product supply disruptions. MOMAN said in a statement on Sunday that the fire, which broke out on Thursday at a PMS tank at the depot … Read more
NOVEMBER 6, 2020 The Apex Bank also disclosed that it is ready to contribute over ₦1.8 trillion of the total sum of ₦2.30 trillion needed for the Federal Government’s one-year Economic Sustainability Plan (ESP). The Central Bank of Nigeria (CBN), says it has so far made a total of ₦3.5trillion disbursements to cushion the effect … Read more
The Nigeria Immigration Service (NIS) has denied that the passport of Modupe Odele, an #EndSARS advocate, was seized because of her involvement in the campaign against police brutality. Odele, who is a lawyer, had narrated how NIS officials stopped her from flying out of the country. She was actively involved in the #EndSARS campaign, offering … Read more
The Federal Government has announced that the first batch of artisans in Ariaria International Market in Abia State has received their one-time grant of thirty thousand naira each. This was contained in a tweet shared by the Micro, Small and Medium Enterprises Survival Fund. The Government of Nigeria also disclosed that the Payroll Support Scheme … Read more
The Central Bank of Nigeria has said it has removed the restriction on non-member mortgage lenders from refinancing their mortgages with the Mortgage Refinance Company. It said it now permits the MRCs to refinance the qualifying mortgages of lenders that do not hold its equity, subject to compliance with all other relevant provisions specified in … Read more
The youths and residents of lokoja on Sunday discovered COVID-19 warehouse at Kpata in Lokoja, the state capital. The youth and residents of lokoja came out in their numbers as they all rushed to acquire their own share of the state Covid-19 palliative stored in the warehouse opposite old market in lokoja. However, the state … Read more
October 06, 2020. Wema Bank Plc has reportedly opened a new branch in Oregun, Lagos as it continues its strategic expansion to meet the demands of customers. In a statement, the bank said the new branch would strengthen its business in line with its growth path. The bank’s Executive Director, Lagos Directorate, Mr Wole Ajimisinmi … Read more
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, says the benefits of the fuel subsidy regime were enjoyed by members of a market cabal. Speaking during a Hausa programme on a radio station in Kaduna, Kyari said subsidy was removed because it was characterised by fraudulent activities. He explained that … Read more
The Central Bank of Nigeria (CBN) has approved N200 billion as mortgage finance loan to Family Homes Fund (FHF) targeted at low-income earners. CBN through a statement on the apex bank’s website indicated that the money will be used to build 300,000 homes in all states and the Federal Capital Territory (FCT) and is expected … Read more
Federal Government of Nigeria said its no more going to be releasing guiding price bands for the sale of petrol at filling stations. It disclosed this in Abuja through the Petroleum Products Pricing Regulatory Agency, adding that based on this, the downstream arm of the oil and gas sector had been fully deregulated. Responding to … Read more
A special offence court has reportedly declared Former Sterling Bank Director, Yemi Idowu, wanted. Ekohotblog understands that the court ordered the arrest of Idowu, and a popular socialite, Prince Waheed Gbadamosi Eletu-Odibo. According to report, the former Sterling Bank director and the Lagos Prince are facing the wrath of the law for collaboratively and intentionally … Read more
Bank of Kigali has appointed Obinna Ukwuani as Chief Digital Officer replacing Regis Rugemanshuro who was appointed to head Rwanda Social Security Board in February this year. The position among other things involves leading the Digital Factory division for product innovation and development in digital banking. Obinna commenced work in June. The division is responsible … Read more
The Federal Government, through the Federal Ministry of Finance, Budget and National Planning (FMFBNP) and the World Bank have set aside $2.5million grant for each state able to commence implementation of a tax compliance relief programme for individual taxpayers and businesses by September 31. The incentive is to stimulate the success of the various tax … Read more
Arik Air, on Sunday, announced the resumption of its domestic flights from July 8, following the Federal Government’s decision to re-open Lagos and Abuja airports for flight operations. The Arik Air Chief Executive Officer, Capt. Roy Ilegbodu, disclosed this in a statement in Lagos. Ilegbodu said that the airline would be operating three daily flights … Read more