United Bank for Africa Plc has issued 6,839,884,274 ordinary shares of 50 kobo each at N35 per share in a rights issue to raise N239.4bn in a bid to meet the fresh capital requirements of the Central Bank of Nigeria. Read more…
Category: Business
President Joe Biden will hold talks Saturday with China’s Xi Jinping on the sidelines of an international summit in Peru, a face-to-face meeting that comes as Beijing braces for Donald Trump’s return to the White House. White House National Security Adviser Jake Sullivan said the Read more…
The Nigerian National Petroleum Company Limited has announced key leadership appointments, DAILY POST learnt. The company on Wednesday named Adedapo Segun its new Chief Financial Officer (CFO). He is to take over the position of CFO from Mr. Umar Ajiya. Read more…
The naira continued to depreciate against the dollar at both official and parallel foreign exchange markets. FMDQ data showed that the naira fell to N1689.88 per dollar on Tuesday from N1681.42 exchanged on Monday, recording N8.42 depreciation. Similarly, at the Read more…
Businesses have expressed less confidence in the economy with the Overall Confidence Index in the next three months falling by 3.2 index points to 14.5 from 17.7 index points. This was the highlight of the Business Expectation Survey, BES of Read more…
By Uzo Ugwunze Relief came the way of four indigent traders of Sokoto Road Market Traders Association, Onitsha, Anambra State, as the market chairman, Hon. Emeka Mbachu, weekend empowered them with #100,000 each. It was gathered that Pastor Godspower Chibuzor, Read more…
Following his emergence as the National President of the National Union of Road Transport Union, NURTW, Musiliu Akinsanya popularly known as MC Oluomo has been sworn in at the union’s national secretariat in Abuja. DAILY POST reports that Oluomo was elected Read more…
After weeks of protracted negotiations, the Independent Petroleum Marketers Association of Nigeria, IPMAN, announced on Monday that it reached an agreement with Dangote Refinery for its members to directly lift petrol from the facility. IPMAN’s National President, Abubakar Maigandi Shettima, Read more…
The backlash from plans by President Bola Tinubu to reform the tax administration in the country is yet to abate, following fresh plans by state governors of northern extraction and members of the National Assembly from the region to scuttle Read more…
The Naira depreciated against the dollar on Friday at the foreign exchange market to end the week on a negative note. FMDQ data showed that the weakened to N1678.87 per dollar on Friday from the N1639.50 exchange rate on Thursday. Read more…
The management of Pinnacle Oil and Gas Limited has reacted to a story authored by Dangote Refinery wherein it suggested that the its facility in Lekki was being used to warehouse substandard petrol. The company, in a statement, punctured Dangote’s claims, Read more…
For the second time in less than 48 hours, the national grid has collapsed again, plunging the country into another round of darkness. The system glitch, which happened around 11:28am on Thursday, is the second this week and 10th incident Read more…