Customs releases impounded trucks after CGC’s intervention at bonded terminal
By Godwin Oritse The Nigeria Customs Service (NCS) has released 36 trucks belonging to members of the Association of Maritime Truck Owners (AMATO) that were impounded during an investigation into alleged trade infractions at Zarmmak Bonded Terminal in the Amuwo Odofin area of Lagos. The trucks were detained by Customs Police attached to the Zone ‘A’ […]
NNPC’s revenue hits N60.5trn, profit up to N5.7trn
Pays N14.7trn to govt By Obas Esiedesa The Nigerian National Petroleum Company Limited (NNPC), on Thursday, disclosed that it generated N60.5 trillion in revenue in 2025. In its monthly report published on its website, the company also announced a profit after tax of N5.76 trillion and remitted N14.706 trillion to statutory government agencies. The report stated that […]
Firm appoints Aiyeleso as MD/CEO of Matna Foods
Following its recent acquisition of Matna Foods Company Limited, Cavista Holdings has announced the appointment of Mr. Seyi “Oska” Aiyeleso as the new Managing Director and Chief Executive Officer of Matna Foods, effective immediately.
Banks to pay N10m fine for using unaccredited cheque printer
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has slammed a N10 million fine and withdrawal of cheques on commercial banks using unaccredited cheque printers/personaliser. The apex bank disclosed this in its revised sanctions regime on defaulters of the Nigeria Cheque Standard and Nigeria Cheque Printers’ Accreditation Scheme (NICPAS). Among other things, CBN said: […]
Power outage looms amid scheduled power plants maintenance
By Obas Esiedesa Electricity generation across the country is expected to dip temporarily as scheduled maintenance on a major gas facility will curtail supply to several thermal power plants. The Nigerian National Petroleum Company Limited (NNPC Ltd) on Thursday announced that Seplat Energy Plc, a joint venture partner and key supplier of gas into the NNPC Gas […]
NSDC partners NEXIM Bank to scale sugar project financing
By Babajide Komolafe The National Sugar Development Council (NSDC) and the Nigerian Export-Import Bank (NEXIM Bank) have commenced a strategic partnership to mobilise long-term financing for the large-scale transformation of Nigeria’s sugar industry. The collaboration, agreed at a meeting in Abuja, will adopt the Engineering, Procurement, Construction plus Financing (EPC+F) model to fund viable sugar projects. […]
