Otedola Emerges as First Bank Holdings Chairman Billionaire businessman, Femi Otedola, has emerged as the new chairman of First Bank Holdings to succeed Ahmad Abdullahi. In a corporate notice filed with the Nigerian Exchange Limited on Wednesday, the financial institution said Otedola was appointed at the...

1,500 Redeployed CBN Employees To Resume Work At Lagos Office Friday   Following their relocation from the Abuja headquarters, at least 1,500 Central Bank of Nigeria (CBN) employees will begin work at the Lagos branch on Friday, February 2. The departments penciled down for relocation by the...

NNPCL In Talks With S’Korean Investors For Gas Projects   The Nigerian National Petroleum Company Limited (NNPCL) has held talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria. NNPCL said in a statement issued in Abuja...

Ticket Revenue: CBN, Foreign Airlines Clash Over Unpaid $700m   The Central Bank of Nigeria (CBN) and foreign airlines operating in Nigeria have differed over the total amount of unpaid ticket revenue in the country. The CBN on Tuesday said it had ‘concluded the payment of all...

Banks’ Loan Portfolio Surged By N20.8trn   Despite the stringent policy measures implemented by the Central Bank of Nigeria (CBN), commercial banks in the country have witnessed a remarkable N20.8trillion Year-on-Year (YoY) growth in their total credit to the private sector, reaching a substantial N62.52 trillion...

NGX: Market Cap Sheds N857bn Over Sell-offs   The market capitalisation of the Nigerian Exchange Limited (NGX) recorded its second dip this year as it shed N857bn to close at N56,425tn on the back of sell-offs. The All-Share Index went down by 1.49 per cent on Tuesday...