Business

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 …

MRS, OTHERS RAISE PETROL PRICES TO N930 IN LAGOS, N960 IN NORTH As a direct fallout of the recent suspension of sales of petroleum products in naira by the Dangote refinery, MRS filling station has effected a new price regime, raising its pump price to N930 per litre in Lagos and N960 for residents living in the northern part of …

AMONG WORLD’S 21 BLACK BILLIONAIRES, SIX ARE NIGERIANS Forbes has released its annual list of billionaires, highlighting 2,781 individuals worldwide. Of these, only 21 are Black, making up less than 1% of the total. Among them, only two are women. The list includes individuals from various industries, including finance, technology, sports, and entertainment. Here are the 21 black billionaires in …