Group Accuses Okomu Oil of Using Fake RSPO Certification

By Dipo Olowookere Dangote Refinery and Petrochemical Limited will be listed on the floor of the Nigerian Exchange (NGX) Limited in the future, the Chairman of the company, Mr Aliko Dangote, has revealed. Mr Dangote, who is the richest man in Africa, confirmed this in an interview with the Financial Times published on Saturday. The refinery will join other businesses of Mr Dangote currently trading their equities on the NGX, Dangote Cement, Dangote Sugar, and NASCON. The oil facility, believed to be worth about $20 billion, was launched in May 2023 by the immediate past president of Nigeria, Mr Muhammadu

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, November 27 as expectations of renewed confidence that the Central Bank of Nigeria (CBN) would offer stability to the market. Before the market closed, there were indications that the CBN Governor, Mr Olayemi Cardoso, would share his plans for the Nigerian economy at a dinner for bankers in Lagos and this boosted a fresh hope, considering he had not offered a direction prior then. In the official market, the domestic currency gained N161.44 or 16.9 per cent against the Dollar

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another positive week-on-week performance after stretching its gains by 1.44 per cent in Week 47. This expanded the portfolios of NASD investors by N17 billion in the week to N1.162 trillion from the N1.145 trillion recorded in Week 46, as the NASD Unlisted Security Index (NSI) increased by 12.16 points to 857.29 points from 845.13 points in the previous week. The trading week was with three price gainers and three losers, with Aradel Holdings Plc on top of the advancers’ chart after it grew by 10 per cent to finish

By Bliss Okperan, Adedapo Adesanya  The cost of cooking a pot of jollof rice, one of the most consumed foods daily in Nigeria, has surged by 37.4 per cent, according to research carried out by Business Post. Using market data and the most recent food price watch by the National Bureau of Statistics (NBS), major food items in making the delicacy, including rice, groundnut oil, tomatoes, and onions, among others have recorded a massive increase within the past year, making it hard for the average Nigerian to survive. According to NBS, 1 kilogram of Rice cost N757.06 in 2023 as

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) has disclosed that retailing stations operated by the state oil firm would commence the sale of the Compressed Natural Gas (CNG) for vehicles from December 2020. This was disclosed by the Group Managing Director of the corporation, Mr Mele Kyari, who added that the deployment will be extended to independent retail stations as the NNPC plans to replicate the plants in non-NNPC owned petrol stations by the end of 2021. “We are deploying in all our stations. Like we said, by December we will deploy it in all NNPC stations. We

By Dipo Olowookere Information reaching our news desk reveals that not less than 100 suspected members of the notorious Badoo cult group in the Ikorodu area of Lagos State have been apprehended. The suspected hoodlums were arrested by men of the Lagos State Police Command in conjunction with the Oodua People’s Congress (OPC). Business Post gathered that the security operatives and the local vigilante group raided the hideouts of the notorious cult group. Our source in the police revealed the arrest was connected to the recent closed-door meeting held between top police authorities in Lagos, the OPC leader, Mr Gani

By Adedapo Adesanya Liverpool defender, Trent Alexander-Arnold, has been named on Friday as the Young Player of the Year for the just concluded Premier League season. The Tag Hauer Premier League Young Player of the season was launched this season to celebrate the Premier League’s prodigious talents. Trent had been pitched against several Premier League youngsters who all enjoyed fine outings in the English football season. The 21-year-old beat Manchester United trio of Marcus Rashford, Anthony Martial and Mason Greenwood for the Young Player award along with Chelsea duo of Mason Mount and Christian Pulisic. Also, in contention were Aston

By Dipo Olowookere One of the leading financial institutions in Nigeria, Guaranty Trust Holding Company (GTCO) Plc, the parent company of GTBank Limited, improved its pre and post-tax profits in the first nine months of 2022. According to the unaudited results of the organisation released on Tuesday, the profit before tax (PBT) increased by 11.7 per cent to N169.7 billion from the N151.9 billion recorded in the same period of 2021, as the net profit grew for the first time in the past quarters by 0.8 per cent to N130.4 billion from N129.4 billion. Also, the earnings per share (EPS),

By Investors Hub Asian stocks finished broadly higher on Wednesday as record closing highs on Wall Street overnight on the back of upbeat economic data and a positive reaction to Fed Chair nominee Jerome Powell’s comments regarding financial regulations helped investors shrug off news about North Korea’s latest missile launch. China’s Shanghai Composite Index closed up 4.35 points or 0.1 percent at 3,338.00, led by property developers and resource firms. However, Hong Kong’s Hang Seng Index edged down 57.02 points or 0.2 percent to 29,623.83. A strong rally in financials helped the Japanese markets end higher for the day. The

By Dipo Olowookere The Ekiti State Government has reacted to reports that it plans to shut down a branch of Access Bank in the state for ‘detaining’ Mrs Precious Fani-Kayode, wife of a former Minister of Aviation, Mr Femi Fani-Kayode, on the instruction of the Economic and Financial Crimes Commission (EFCC) on Monday. Mrs Fani-Kayode had gone to a branch of the bank in Ado Ekiti, the state capital, to make a transaction, but was ‘detained’ because her account was flagged by the anti-graft agency. It took the intervention of the state Governor, Mr Ayodele Fayose, to free the woman

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) has disclosed that it has become an Extractive Industries Transparency Initiative (EITI) supporting company which will help it achieve greater transparency and to help ensure that Nigeria’s citizens benefit from their country’s mainstay resource. The disclosure was made by the Group Managing Director of the national oil company, Mr Mele Kyari via his Twitter account on Tuesday. He said that with the development, the corporation had joined a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners committed to observing the EITI’s supporting company