Category: Business

How We Unlocked $56.13mln for Host Communities – Shell

ADEOLA YUSUF

The Shell Petroleum Development Company, operator of the SPDC joint venture, on Tuesday unveiled eight Host Community Development Trusts in Bayelsa State, a critical step for unlocking the $56million earmarked for development in line with the provisions of the Petroleum Industry Act (PIA) 2021. The $56.13 million represents funds to be paid this year by SPDC JV and Shell’s deep-water subsidiary, Shell Nigeria Exploration and Production Company Limited (SNEPCo) as contribution to HCDTs. This bold step in the implementation of the provisions of the PIA earned commendation from the Bayelsa…

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Top 5 Highest Salary Paying Firms in Nigeria Unveiled

ADEOLA YUSUF

See names of companies and how much they pay as staff salaries   As Nigeria’s economy continues to expand and diversify, employee compensation has emerged as a major incentive to attract and retain top talents as businesses seek to maintain market dominance in terms of performance and level of employees. Seplat Energy, TotalEnergies, and MTN Nigeria led the list of companies that paid the most average salary per staff in Nigeria in the year 2022, based on average employee expenses for the year. This is according to an analysis by…

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Inside Ogun Politics That Made State Lost $18.5bn Dangote Refinery to Lagos

ADEOLA YUSUF

Characters in the politics that cost Ogun state the siting of Dangote refinery have turned toxic tongues throwing tantrums. While the states IGR begins to suffer, none of the actors wants his head to be used to break the proverbial coconut, reports Adeola Yusuf   The siting and commissioning of Dangote’s $18.5bn Refinery could have been held on Ogun state soil. And so, it became a reopened wound on Monday, May 22, 2023, when the refinery in Lekki played host to five presidents from West African countries, top diplomats from…

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132 Microfinance Banks’ Licenses Revoked + NAMES

ADEOLA YUSUF

“Why we did it,” CBN speaks on reason operations of the lenders became illegal     The Central Bank of Nigeria (CBN) has revoked the operating licenses of 132 microfinance banks in the country, alongside those of four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was published on the website of the CBN on Tuesday. READ ALSO: Help, Naira Crisis Killing Our Business, Commercial Sex Workers Beg Buhari Japa: Youtuber Tiamiyu Apologises Over Comment On BBC Interview Dangote…

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Dangote Arrived Lagos With Nothing 45 years Ago, Says Sanwo-Olu

ADEOLA YUSUF

Mr Sanwo-Olu said, while giving a speech at the commissioning, that Dangote came to Lagos from Kano with nothing 45 years ago. Lagos State Governor Babajide Sanwo-Olu on Monday praised the chairman and chief executive officer of Dangote Group, Aliko Dangote, for his multi-billion dollar refinery in Lagos. Mr Sanwo-Olu said, while giving a speech at the commissioning, that Dangote came to Lagos from Kano with nothing 45 years ago. READ ALSO: Tribunal Dismisses Atiku, Obi Live Broadcast Application ASUU Re-Elects Osodeke As National President Why Women With Larger Breasts…

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Meet Dr Oluwatoyin Sakirat Madein, Nigeria’s First Female Accountant-General

ADEOLA YUSUF

President Muhammadu Buhari has appointed Mrs. Oluwatoyin Madein as the substantive Accountant-General of the Federation. Her appointment takes immediate effect, according to a Friday statement by the Director of Communications, Office of the Head of Civil Service, Mohammed Ahmed. Madam Madein Oluwatoyin Madein hails from Iperu Remo in Ikenne LGA of Ogun State. She is happily married to Engr. Adeleke Olusina Madein and the marriage is blessed with four children. Her experience in the Federal Civil Service spans over 30 years as an Accountant, Financial Manager and Internal Auditor. READ…

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JUST IN: Oluwatoyin Madein Is Nigeria’s New Accountant-General

ADEOLA YUSUF

Her appointment, her pedigree. What to know about the new lady in charge of exchequer for the Africa’s biggest economy   President Muhammadu Buhari has appointed Mrs. Oluwatoyin Madein as the substantive Accountant-General of the Federation. Her appointment takes immediate effect, according to a Friday statement by the Director of Communications, Office of the Head of Civil Service, Mohammed Ahmed. “President Muhammadu Buhari has approved the appointment of Dr. Oluwatoyin Sakirat Madein, as the substantive Accountant-General of the Federation following the successful conduct of a selection process to fill the…

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GTBank, 6 Others Fined N1bn For Forex Offences + LIST

ADEOLA YUSUF

Seven Deposit Money Banks paid a total of N1,088,334,000 as fines to the Central Bank of Nigeria, Securities and Exchange Commission, National Insurance Commission, Pension Commission and others in the 2022 financial, according to findings. This was disclosed in the financial statements of the banks for the year 2022, which were filed on the Nigerian Exchange Limited. The financial services firms included in this report are Access Holdings Plc, Wema Bank Plc, Union Bank of Nigeria, Guaranty Trust Holding Company, FCMB Group Plc, Fidelity Bank Plc, and Stanbic IBTC Holdings.…

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Elon Musk Steps Down, Hires New Twitter CEO

ADEOLA YUSUF

Elon Musk has stepped down Twitter’s honcho, hiring a yet-to-be-named female who will resume as the new CEO in six weeks. Mr Musk announced this on Thursday via a tweet revealing that the new CEO is female and would assume duty in the coming weeks. He also disclosed that his new role at the company would be executive chairman and chief technology officer, overseeing product, software, and system operations. READ ALSO: Supreme Court Adjourns Nnamdi Kanu’s Case To Sept 14 Gorge Weah Urges Osimhen To Win Ballon d’Or In His…

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Musk Says Twitter To Soon Allow Calls, Encrypted Messaging

ADEOLA YUSUF

Twitter Inc Chief Executive Elon Musk on Tuesday revealed details about new features including adding calls and encrypted messaging coming to the platform. Last year, Musk flagged plans for “Twitter 2.0 The Everything App”, which he said would have features such as encrypted direct messages (DMs), longform tweets and payments. “Coming soon will be voice and video chat from your handle to anyone on this platform, so you can talk to people anywhere in the world without giving them your phone number,” Musk said in a tweet on Tuesday. READ…

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