Business

MORE HEADS TO ROLL IN NNPCL, SUBSIDIARIES AS OJULARI ASSUMES OFFICE There are indications that more heads will roll in the Nigerian National Petroleum Company Limited, NNPCL and its subsidiaries as Engineer Bayo Ojulari yesterday assumed office as the new Group Chief Executive Officer. This was even as the management and staff of NNPC Ltd welcomed the appointment of a …

MTN DENIES STEALING CUSTOMERS’ DATA‘The Chief Executive Officer of MTN Ghana, Stephen Blewett, has dismissed accusations that the telecom operator steals customer data, a persistent complaint he says he’s faced in every market during his career, MyJoyOnline, Ghanaian online news portal, reported on Wednesday. His comments come as a wave of similar concerns sweeps through Nigeria, where subscribers are also …

NIGERIA RECOGNIZES CRYPTOCURRENCIES AS SECURITIES IN LANDMARK LEGAL SHIFT Nigeria’s new capital market laws now officially classify cryptocurrencies and other virtual assets as securities for the first time, in what would lead to greater transparency and increased investments. President Bola Tinubu recently assented to the Investments and Securities Act (ISA) 2024, which repeals the Investments and Securities Act No. 29 …

WHY TINUBU SACKED KYARI, DISSOLVED NNPCL BOARD There are strong indications that President Bola Ahmed Tinubu reluctantly approved the sack of Mele Kolo Kyari as Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL), following mounting concerns about some aspects of the company’s operations. The President announced Kyari’s removal alongside the dissolution of the NNPCL board …

CBN REFUTES REPORTS OF NEW ₦5,000, ₦10,000 NOTES The Central Bank of Nigeria (CBN) has refuted claims that it has introduced new ₦5,000 and ₦10,000 notes, describing the reports as false. This comes after widespread misinformation suggested that the apex bank had unveiled the high-denomination banknotes to enhance cash transactions. According to the reports, the CBN was set to introduce …

CBN REPORT SHOWS NIGERIAN ECONOMY UNDER TINUBU FAILS TO MEET 2024 REVENUE TARGET Data released by the Central Bank of Nigeria in its economic report for fourth quarter 2024, has revealed that the President Bola Tinubu-led Nigerian government failed to meet revenue targets for the quarter. According to the document “federally collected revenue saw a 5.31% increase compared to the …

FULL LIST: 11 NEW NNPC LIMITED BOARD MEMBERS President Bola Ahmed Tinubu has approved the reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Malam Mele Kyari. A statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, indicated that the President removed all …

FROM MARINHO TO OJULARI: HISTORY OF NNPCL’S LEADERSHIP FROM INCEPTION President Bola Tinubu on Wednesday removed Mele Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited and appointed Bashir Bayo Ojulari as his replacement, effective April 2, 2025. The President also dissolved the company’s board, including its chairman, Pius Akinyelure, and reconstituted an 11-member board. …

FINALLY, MELE KYARI EXIT NNPCL AS TINUBU CONSTITUTES NEW MANAGEMENT TEAM STATEHOUSE PRESS RELEASE PRESIDENT TINUBU RECONSTITUTES NNPC LIMITED BOARD, APPOINTS NEW CHAIRMAN, GROUP CEO President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Mallam Mele Kolo Kyari. President …

PETROL PRICE TO RISE MORE AS NAIRA-FOR-CRUDE TALKS WOBBLE There is anxiety in the downstream arm of the oil and gas sector as operators await the decision of the Federal Government on the naira-for-crude deal between the Nigerian National Petroleum Company Limited and the Dangote Petroleum Refinery. The six-month deal, which started in October 2024, officially ends today, Monday, March …