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Latest operations report of the Nigerian National Petroleum Corporation indicates that Nigeria’s refineries under the management of NNPC could not refine a drop of crude oil amid concerns by the Nigeria Labour Congress over the comatose state of the facilities. In its most recent financial and operations report, the national oil firm stated that the Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company […]

The Central Bank of Nigeria said bank deposits rose by N6.95tn between February 2019 and February 2020. The CBN disclosed this in its report on some of the personal statements of members of the Monetary Policy Committee. Part of the statement noted there were moderate declines in returns on equity and returns on assets and a significant rise in the share of operating incomes in total interest incomes of Deposit […]

The Federal Government has said Hadiza Bala-Usman would remain suspended from office as the Managing Director of the Nigerian Ports Authority until the outcome of the investigation being done by the panel that was established to probe her activities.   On Monday the Federal Government inaugurated the panel of enquiry on the management of the NPA and ordered the panel to investigate policies of Bala-Usman, who was suspended last week […]

The Debt Management Office has disclosed that the Federal Government would offer N150bn bonds for subscription in May. A circular by the DMO on its website showed that the breakdown of bonds comprised three bonds worth N50bn each. They are 10-year reopening bond to be offered at the rate of 16.2884 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per […]