Tag: NNPC

NAPIMS denies mismanaging USD11 million
Policy

NAPIMS denies mismanaging USD11 million

In response to allegations that it spent USD9 million on staff transfer and another USD2 million to vehicles maintenance, the National Petroleum Investment and Management Services, NAPIMS has denied such allegations. NAPIMS in a statement issued through the NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu said the […]

Fuel Price Hike: A Joke Taken Too Far?
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Fuel Price Hike: A Joke Taken Too Far?

The rumour that that the federal government of Nigeria is planning another fuel price hike is indeed a ‘joke taken too far’. The fact the the government has finally allayed the fears of the public also speaks volume. The Petroleum Products Pricing Regulatory Agency, PPPRA has dismissed the opinion expressed by […]

First Bank Clarifies Forex Market Ban
Big Business

First Bank Clarifies Forex Market Ban

Few days after the bank was barred from participating in the Forex market, First Bank has issued a statement clarifying its position on the CBN ban. Further to the media reports of the suspension of FirstBank — a subsidiary of FBN Holdings Plc, among other banks, from foreign exchange transactions […]

CBN Re-Admits UBA Into Forex Market
Policy

CBN Re-Admits UBA Into Forex Market

After the fallout of the ban on specific banks from the forex market, the Central Bank of Nigeria said it has lifted the ban on the United Bank of Africa PLC. In a statement released by Tokunbo Martins, Director of Banking Supervision, CBN, said: “United Bank for Africa (UBA) re-admitted […]