Author: Ogochukwu Ndubuisi

FAAN Bans Cash Transactions for Revenue Payments Effective Feb. 28 The Federal Airports Authority of Nigeria (FAAN) has banned cash transactions for all services nationwide effective Feb. 28. This is contained in a statement signed by the Director of Public Relations and Consumer Protection at FAAN, Mr Henry Agbebire on Thursday in Lagos. FAAN said that the reaffirmation became necessary after executives of the various aviation unions visited the FAAN management to sougth clarification on the cessation of cash transactions at airports on Wednesday. The unions represented were the National Union of Air Transport Employees (NUATE); Air Transport Services Senior…

Tinubu Orders NNPC to Remit Oil Income to Fed. Acct. Directly President Bola Tinubu has ordered the immediate suspension of management and frontier exploration fees previously deducted by the Nigerian National Petroleum Company Limited (NNPC Ltd.), in a sweeping move aimed at restoring transparency and boosting oil revenues due to the Federation. The directive, contained in a new Executive Order signed last week, was disclosed on Wednesday in a statement issued by the Federal Ministry of Finance. According to the ministry, the order seeks to realign oil and gas revenue administration with constitutional provisions and halt practices that have weakened…

NGX lists Dangote Cement Commercial Paper Nigerian Exchange Ltd. (NGX) has recorded its first commercial paper listing with the admission of Dangote Cement Plc’s Series 1 and Series 2 commercial papers under its N500 billion Commercial Paper Issuance Programme. This was contained in a statement issued by NGX on Wednesday in Lagos. The two series, with a combined value of N119.87 billion, were admitted for trading on NGX on Feb. 18, following the Exchange’s introduction of the commercial paper listing framework in 2025. Dangote Cement’s N19.95 billion Series 1 commercial paper carries a tenor of 181 days and matures on…

NCC Seeks Stakeholders’ Inputs on National Telecoms Policy Review The Nigerian Communications Commission (NCC) has called on interested industry stakeholders to make written submissions to the Commission on the ongoing review of the National Telecommunications Policy (NTP) 2000, whose consultation paper has been published on the Commission’s website. The Commission has set Friday, March 20, 2026, as the deadline for all submissions from stakeholders to be addressed to the Executive Vice Chairman/CEO of the Commission or sent to the dedicated email: stakeholders@ncc.gov.ng. The consultation process, which is in exercise of the Commission’s functions under the Nigerian Communications Act (NCA), 2003…

Namibia Keeps Repo Rate Unchanged at 6.5% The Bank of Namibia on Wednesday decided to keep the repo rate unchanged at 6.50 per cent, citing the need to safeguard the one-to-one peg between the Namibia dollar and the South African rand. Speaking at the first monetary policy announcement for the year, Governor of the central bank Ebson Uanguta said the policy stance was taken to ensure orderly capital flows and maintain the currency peg arrangement while supporting domestic economic activity. He added that commercial banks are accordingly expected to maintain the prime lending rate at 10.00 per cent. Overall growth…

Malawi Bans Public Health Workers From Owning Private Clinics Malawian President, Peter Mutharika, has issued an executive order barring employees in public hospitals and other state-run health facilities from owning, operating or holding shares in private clinics or pharmacies. The order came as way to curbing conflicts of interest and corruption in the health sector. The order, issued Tuesday, also prohibits government health workers from soliciting, demanding or accepting payments or monetary favours from patients as a condition for receiving treatment. The directive follows remarks by Health and Sanitation Minister Madalitso Baloyi regarding allegations that some medical practitioners were demanding…

10 Ships Await Discharge at Lagos Ports, Says NPA No fewer than 10 ships have arrived at Lekki, Tin Can and Apapa ports in Lagos, awaiting discharge of crude oil, aviation fuel, urea, petrol, diesel and gas. The Nigerian Ports Authority (NPA) disclosed this in its publication, ‘Shipping Position’, released to the News men on Wednesday in Lagos. The document noted that 34 ships carrying petroleum products, food items and other goods were expected at Apapa, Lekki and Tin Can Island ports between Feb. 18 and Feb. 27. It stated that the incoming vessels were laden with petrol, general cargo,…

NEM Insurance Unveils “She Means Business 3.0” to Empower Female Entrepreneurs NEM Insurance Plc has unveiled the third edition of its flagship women-focused empowerment initiative, tagged ‘She Means Business 3.0”, aimed at supporting female entrepreneurs across Nigeria. The General Manager, Corporate Services at NEM Insurance, Mojisola Teluwo, in a statement on Wednesday, said the initiative was part of the company’s commitment to promoting entrepreneurship and deepening financial inclusion among women. Teluwo said that the entry window opened on Feb. 16 and would close on Feb. 28 as she urged interested participants to adhere strictly to the timeline. She explained that…

Insider Dealing: NGX Warning Sparks Calls for Tougher Action Shareholders’ groups have called for tougher enforcement of corporate governance rules and stiffer penalties for insider trading following warnings to three listed firms by the Nigerian Exchange Ltd. (NGX). Moses Igbrude, the President of the Independent Shareholders Association of Nigeria (ISAN), one of the groups, described compliance with corporate governance rules as non-negotiable. Igbrude, in an interview with the News men on Wednesday in Lagos, emphasised that companies and their officers must strictly adhere to laid-down regulations. He spoke on the backdrop of the Nigerian Exchange Ltd. (NGX) recently cautioning Sterling…

Unity, Providus Bank Merger Done Deal, Integration Progresses Following the recently held Court-Ordered Meeting and subsequent overwhelming endorsement, the merger and business combination between Unity Bank Plc and Providus Bank Limited remains firmly on course. Analysts appraising the ongoing recapitalisation programme believe that the regulatory backing and shareholders’ support for the merger represent the most important milestones for meeting the recapitalisation requirements within the stipulated timeline. Reacting to a news report that the merger has been stalled due to insider loans to an unnamed Unity Bank director and refusal of Providus Bank to write it off as bad debt, a…