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Champion Breweries to issue N20bn bonds

08.12.2024
Champion Breweries Plc has received shareholder approval to raise N20bn in funding via bond issuances, to enable it to expand its operations. The firm disclosed in a statement on Thursday that the resolutions were passed at the company’s recently concluded extraordinary general meeting. The approved funding includes the issuance of up to 1,579,058,099 ordinary shares...
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Customs plan auction after two-week ultimatum

07.12.2024
The Nigeria Customs Service on Thursday gave a two-week ultimatum to owners of some overtime containers and vehicles to clear them or else the cargoes would be auctioned. The service in an advertorial with The PUNCH stated that it would commence the process of auctioning the overtime cargoes at the expiration of the two-week grace...
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ICAN president charges new inductees on integrity

07.12.2024
The 60th President of the Institute of Chartered Accountants of Nigeria, Davidson Alaribe, has charged the newly inducted members of the institute to maintain integrity and professionalism. Alaribe made the call on Wednesday during the 74th Induction Ceremony for 1785 new members at the ICAN Centre in Lagos. He said, “As you embark on your...
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Investment and Securities Bill passes second reading

07.12.2024
The Investments and Securities Bill 2024, aimed at transforming Nigeria’s capital market and enhancing the regulatory framework, passed the second reading in the Senate on Wednesday. In a statement on Wednesday, the SEC noted that the bill, which sought to repeal the Securities and Exchange Commission Act, went through a second reading on the floor...
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Shell awards $1.98bn contracts to local companies

07.12.2024
Shell companies in Nigeria awarded contracts worth $1.98bn to local businesses in 2023, a three per cent increase from the previous year’s $1.92bn. The contracts, granted by Shell Petroleum Development Company of Nigeria Limited, Shell Nigeria Exploration and Production Company Limited, and Shell Nigeria Gas, aim to support the development of Nigerian content in the...
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Chevron’s $1bn spending boosts oil sector growth – MD

07.12.2024
Chevron’s annual spending of approximately $1bn on Nigerian suppliers is vital to the growth and development of the country’s oil and gas sector, according to the firm’s Managing Director of Nigeria and Mid-Africa, Jim Swartz. He disclosed this disclosure at the 2024 Practical Nigerian Content Forum. The forum, organised by the Nigerian Content Development and...
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FG pledges to meet 2025 oil production target

06.12.2024
The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that the plan to produce 2.06 million barrels of crude oil per day in 2025 remains on course despite the 1.5mbpd oil production quota set by the Organisation of Petroleum Exporting Countries. This was as oil-producing countries confirmed their commitment to maintaining the...
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Power sector privatisation, total failure – Senate

06.12.2024
The Senate on Thursday declared that the privatisation of the power sector, done 11 years ago, was a total failure due to the lack of stable electricity supply nationwide. It consequently warned that it might propose legislative measures to repeal the policy. The Senate’s condemnation of the alleged failure of the power sector came to...
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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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