Author: Ogochukwu Ndubuisi

Union Bank, Titan Trust Merge Operations after CBN Approval Union Bank of Nigeria Plc has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval by the Central Bank of Nigeria (CBN). The transaction, which commenced in 2021 with the signing of a Share Sale Agreement, has now led to the full absorption of Titan Trust Bank’s operations and assets into Union Bank. Under the arrangement, the institution will continue to operate under the Union Bank brand, while Titan Trust ceases to exist as a separate entity. With over 293 service centres, 937 ATMs nationwide,…

Heirs Energies Targets 110,000 BPD Output by 2030 Dr Osa Igiehon, Chief Executive Officer of Heirs Energies Ltd., says the company plans to raise crude oil production from 50,000 barrels per day (BPD) to 110,000 BPD by 2030. Speaking at an interactive session with energy and business journalists on Friday in Lagos, Igiehon said the engagement aimed to strengthen ties with the media and promote transparency. He addressed key issues, including Nigeria’s energy security, revitalising brownfield assets, the role of indigenous firms in oil and gas, and Heirs Energies’ sustainability and community development strategy. Igiehon reaffirmed the company’s commitment to…

NIPOST Announces $80 Prepaid Customs Duty on Shipments to U.S. The Nigerian Postal Service (NIPOST) has announced that all international postal shipments from Nigeria to the United States(U S) will now attract a mandatory prepaid customs duty of USD $80( about N122,400). NIPOST Director Corporate Communications, Ibrahim Musa, announced this in a statement on Friday in Abuja. According to the statement, the measure complies with a new U.S. Executive Order suspending duty-free exemptions on global postal shipments. “Effective Aug. 29, all non-document postal items—including parcels and packages—destined for the U.S. will attract the fixed charge of USD $80 or its…

NCC Advances Cybersecurity Framework to Safeguard Telecom Infrastructure The Nigerian Communications Commission (NCC) is firming up a cybersecurity framework for securing digital infrastructure and enhancing online safety for consumers in the Nigerian communications industry. The framework, with likely implementation timeline by telecom licensees set for 2026, will address security challenges arising from the emerging technologies towards creating a more secure digital economy in Nigeria. During the second phase of the cybersecurity framework development meeting with relevant stakeholders, hosted by the Commission in Abuja on Wednesday, following the initial meeting held earlier in the year, NCC’s Executive Commissioner, Technical Services (ECTS),…

Nigeria’s Maritime Sector Gaining Global Recognition   The Minister of Marine and Blue Economy, Adegboyega Oyetola, has stated that Nigeria’s maritime sector continues to gain international recognition by producing credible and visionary representatives. Oyetola said this while congratulating Dr Abubakar Dantsoho, Managing Director of the Nigerian Ports Authority (NPA), on his recent election as Vice President of the International Association for Ports and Harbours (IAPH). In a statement issued on Wednesday in Abuja by his Special Adviser on Media and Communications, Dr Bolaji Akinola, the minister described Dantsoho’s election as a commendable achievement. The IAPH is a global organisation that…

SEREC Urges FG to Reduce Operating Agencies in Nigerian Ports The Sea Empowerment and Research Centre (SEREC), has urged the Federal Government to streamline agencies operating in ports across the country for efficiency and proper port management. Mr Eugene Nweke, Head Researcher of SEREC, said this in an interview with the News men on Wednesday in Abuja. Nweke called for improved surveillance and security on Nigeria’s waterways and surrounding areas to promote and attract investments and Public-Private Partnerships. “To revamp eastern ports and promote economic growth the government must invest in Infrastructure; upgrade ports, roads, and rail linkages. “Poor access…

ASUU Rejects FG’s Loan Scheme for Lecturers, Others University of Jos Chapter of the Academic Staff Union of Universities (ASUU), has rejected the Federal Government’s loan scheme for university lecturers and other workers in tertiary institutions. Prof. Jurbe Molwus, the chairman of the union in the university, said this during a press conference on Tuesday in Jos. The Federal Government had about two weeks ago announced the Tertiary Institutions Staff Support Fund. The move, according to government, is a welfare and empowerment initiative for academic and non-academic staff in Nigeria’s tertiary institutions. The Minister of Education, Dr Tunji Alausa, said…

Miden Systems Sues Sterling Bank Over Alleged Fraudulent Deductions Miden Systems Limited has dragged Sterling Bank Limited and its management staff to court over alleged conspiracy, fraudulent practices, forgery, criminal breach of trust, and misappropriation of funds. The company, which provides engineering, maritime, and consultancy services, maintains a corporate account with the bank. The case was filed before Magistrate Njideka  Duru of the Chief Magistrate’s Court, sitting in Wuse Zone II, Abuja. The complainant alleged that the bank through its Chief Executive Officer and Sterling Financial Holdings Company Plc and four other defendants committed the alleged offences. The matter, which…

Renaissance Energy Joins International Oil & Gas Standards Association Renaissance Africa Energy Company Limited at the weekend joined the International Association of Oil & Gas Producers (IOGP). Renaissance, a consortium of indigenous energy firms that acquired onshore and shallow water oil blocks hitherto operated by Shell Petroleum Development Company became the third Nigerian company and the fourth in Africa to be welcomed into the global association. A statement issued on Monday by Mr Michael Adande, Spokesperson for Renaissance noted that the development was announced in London by IOGP. IOGP is an organisation of oil and gas companies and associations that…

Afriland Properties Pays N178.6m Interim Dividend to Shareholders Afriland Properties Plc has paid an interim dividend of 13 kobo per share, amounting to N178.6 million, to its shareholders for the half-year ended June 30. Speaking on the development, Mr Emmanuel Nnorom, Chairman of the Board, said, “The interim dividend underscores our board’s confidence in Afriland’s strategy and financial resilience.” Also commenting, Mr Azubike Emodi, Managing Director of Afriland Properties, spoke on the company’s commitment to delivering sustainable value to investors. He said, “This payout demonstrates the effectiveness of our business model and our commitment to consistently turning performance into real…