Business

By Abraham Amah In a move aimed at enhancing depositor protection and strengthening the financial sector, the Nigeria Deposit Insurance Corporation (NDIC) has announced adjustments to the Maximum Deposit Insurance Coverage for banks operating in the country. During a press briefing held in Abuja, NDIC’s Managing Director, Bello Hassan, disclosed …

Shell Nigeria Gas (SNG) and the Oyo State Government have inked a deal to construct gas pipelines, aiming to supply gas to industrial and commercial users in the state. In a statement released by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, it was revealed that SNG would oversee the construction …

Following the Nigerian National Petroleum Company Limited’s deadline for license collection, approximately 9,000 oil marketers are at risk of closure. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed for an extension of the renewal deadline until July. This plea comes amidst ongoing fuel scarcity in the country. IPMAN …

Africa’s richest man, Aliko Dangote, expressed concern over Nigeria’s currency devaluation, citing it as a major setback for his company in 2023.  Speaking at the annual general meeting of Dangote Sugar Refinery Plc, Dangote, Chairman of Dangote Industries Limited, highlighted the challenging domestic business environment, exacerbated by the election year and …