Recapitalisation: Five Banks’ Shares Oversubscribed — SEC DG   The Director-General of the Securities and Exchange Commission (SEC) Dr Eromomotimi Agama, has stated that the five banks that tapped the market to raise fresh capital were oversubscribed. This was disclosed in a...

Unpaid Import Duty: FG Grants Private Jets Owners 30-day Extension   The Federal Government has rescinded its decision to ground 60 private jets owned by various individuals in Nigeria over unpaid import duty running into several billions of naira. It was reported...

Forex Crisis Halts Completion of Four Inland Dry Ports Projects   Maritime operators have blamed the non-completion of four out of the seven approved inland dry ports on the foreign exchange crisis in Nigeria and other issues. The immediate past Managing Director...

NNPC Sells PMS to IPMAN at N995 per Llitre   The Nigerian National Petroleum Company Limited (NNPC) has agreed to sell Premium Motor Spirit (petrol) to members of the Independent Petroleum Marketers Association of Nigeria at N995 per litre. This followed the...

FG Plans 25% Tax on Nigerians Earning Above N100m Monthly   The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that wealthy Nigerians earning N100m and above monthly will face a 25 per cent personal...

'How Six Offshore Licences Were Developed Over The Years'   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that only six out of the 42 deep offshore licences it granted in the last 30 years have been developed. This was revealed...