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P’Harcourt refinery working, but won’t reduce petrol price — PENGASSAN

04.12.2024
The Petroleum and Natural Gas Senior Staff Association of Nigeria has confirmed that the Port Harcourt refinery, with a production capacity of 60,000 barrels per day, is operational and currently producing various refined petroleum products, including diesel, kerosene, and petrol. This update was provided by the PENGASSAN National President, Festus Osifo, during the association’s National...
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Wema Bank awards N145m to outstanding innovators

04.12.2024
Wema Bank has concluded the 5th edition of its Hackaholics initiative, a programme designed to empower and support the nation’s brightest tech innovators. The grand finale, which took place recently in Lagos, witnessed a remarkable showcase of ingenuity and problem-solving prowess, culminating in seven startups sharing N145m in prize money—nearly double the initial prize fund...
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FG engages three US lenders for $2.2bn Eurobonds

04.12.2024
Nigeria is returning to the international capital markets for the first time in over two years, issuing Eurobonds to bridge its growing fiscal deficit. According to a document presented to potential investors, which was seen by The PUNCH on Monday, the government will offer a 6.5-year bond and a 10-year benchmark-sized bond, with expected yields...
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Telecom subscribers to petition National Assembly over 5% tax

04.12.2024
The National Association of Telecoms Subscribers will write to the National Assembly over the Federal Government’s renewed push to impose a five per cent excise duty on telecommunications services. The group is set to meet this Wednesday to finalise arrangements for the petition, which specifically seems to halt legislative approval of the controversial tax while...
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Consumers kick as POS operators raise charges

04.12.2024
Operators of Point-of-Sale terminals raised their charges on Monday in line with the implementation of the Electronic Money Transfer Levy of N50 by the Federal Inland Revenue Services charged on any electronic inflow of N10,000 and above. Several fintech platforms on Sunday notified their customers that they would start the collection of N50 as an...
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FG auditors probe NNPCL’s N2.7tn subsidy refund claim

04.12.2024
The Office of the Auditor-General of the Federation has received the necessary and complete documents required to verify the N2.7 trillion fuel subsidy claim by the Nigerian National Petroleum Company Limited against the government, The PUNCH reports. This is as the procurement department of the finance ministry obtained the terms of reference and the scope...
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FG bars MDAs from including new projects in 2025 budget

04.12.2024
The Federal Government has directed all Ministries, Departments, and Agencies to exclude new projects from their budget submissions for 2025 unless these can be linked to the completion of ongoing initiatives. This is according to the 2024 Federal Government Budget Call Circular document obtained by The PUNCH. The 2024 Budget Call Circular clearly states that...
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Greenwich Merchant Bank appoints Ogundeji CEO

03.12.2024
Greenwich Merchant Bank Limited has announced the appointment of Mr Benson Ogundeji as its substantive Managing Director/Chief Executive Officer following approval of the Central Bank of Nigeria. This was disclosed in a statement made available to The PUNCH on Sunday. In the statement, the Chairman of the Board of Directors of Greenwich Merchant Bank Limited,...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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