Author: Ifetayo Adeniyi

Investors laud 100% increase in Wema Bank’s dividend payout Wema Bank Investors laud 100% increase in Wema Bank’s dividend payout Some shareholders of Wema Bank have expressed delight at the 100 per cent increase in the dividend declared per unit for the 2024 financial year. According to its audited report filed with the Nigerian Exchange Limited, the board of Wema Bank proposed a dividend per share of 100 kobo per share (2023: N0.50) based on the number of shares existing as of 31 December 2024. The proposal is still subject to shareholders’ approval at its next Annual General Meeting. By…

FG showers praises on Caverton Helicopters while touring facilities Heineken Lokpobiri FG showers praises on Caverton Helicopters while touring facilities The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has described Caverton Helicopters Company as a pacesetter and leader in the Nigerian aviation sector worthy of emulation. Lokpobiri said this on Wednesday during a facility tour of the company’s state-of-the-art aircraft maintenance, repair, and overhaul training centre located at Murtala Muhammed International Airport, Ikeja, Lagos. He reiterated that the investment and facility is at par with what is obtained in the developed world. Lokpobiri added that the facility…

W’Bank loans Nigeria $1.08bn for developments Ndiame Diop W’Bank loans Nigeria $1.08bn for developments The World Bank has approved three financing operations totalling $1.08bn to support education, nutrition, and economic resilience in Nigeria. According to a statement on the bank’s website on Wednesday, the concessional loans are aimed at improving the quality of education, building household and community resilience, and enhancing nutrition for underserved groups. The statement read, “The World Bank has approved three operations in Nigeria, totalling $1.08bn in concessional financing, to enhance education quality, build household and community resilience, and improve nutrition for underserved groups.” The approved operations…

CBN distances self from new N5,000, N10,000 banknotes report Central Bank of Nigeria CBN distances self from new N5,000, N10,000 banknotes report. The Central Bank of Nigeria declared as fake a report that it had introduced new N5,000 and N10,000 banknotes. In a post on its Instagram page on Wednesday, the bank said that the report did not originate from it. “The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” stated the apex bank in the post where it labelled the report and the claimed banknotes as fake.…

NNPCL sells petrol pump price at N950/litre Fuel pump NNPCL sells petrol pump price at N950/litre The Nigerian National Petroleum Company Limited has increased the pump price of petrol to N925 per litre at its retail stations in Lagos and N950 per litre in Abuja. This new price which takes effective from April 2, 2025, represents an increase of N65 from the previous price of N860 per litre in Lagos and a N70 difference from the N880 previously sold in the North. Last week, MRS and other independent marketers increased the price of petrol, raising its pump price to N930…

Nigeria signs $174.59m deal with UNIDO to enhance development, create jobs UNIDO Nigeria signs $174.59m deal with UNIDO to enhance development, create jobs. The Federal Government and the United Nations Industrial Development Organisation have signed a $174.59m Programme for Country Partnership agreement to boost Nigeria’s industrial development. According to a press statement by Mrs Julie Osagie-Jacobs, Director of Information and Public Relations at the Ministry of Budget and Economic Planning, on Wednesday, the agreement, which will run for four years from 2024 to 2028, seeks to boost the country’s industrial capacity, drive technological innovation and promote sustainable industrial practices. The…

Ogun launches new helplines to handle sexual, gender-based matters The Commissioner for Ministry of Women Affairs and Social Development, Adijat Adeleye Ogun launches new helplines to handle sexual, gender-based matters * Lines cut through multiple locations within the state. The Ogun State Government has unveiled additional toll-free lines to enhance access to support services for survivors of sexual and gender-based violence. The Commissioner for Ministry of Women Affairs and Social Development, Adijat Adeleye, in a press statement on Wednesday said that the additional lines were to ensure improved response time and provision of immediate medical, psychosocial, and legal assistance to…

PIC, the 36th shareholder of Africa50 with $40m investment Africa50 PIC, the 36th shareholder of Africa50 with $40m investment Africa50 Group, the pan-African infrastructure investor and asset manager, on Tuesday, announced that the Public Investment Corporation (PIC), representing the Government Employees Pension Fund (GEPF) of South Africa, has made an investment of $40 million, becoming its 36th shareholder. The PIC—one of Africa’s largest asset managers—joining Africa50 as a shareholder is an important milestone and provides a significant boost to Africa50’s mission of mobilising African institutional investors to drive infrastructure development across the continent. The PIC is South Africa’s state-owned asset…

Guinness World Record: Hannatu Musawa, UN praise 15-year-old for breaking record Hannatu Musawa and Kanyeyachukwu  Guinness World Record: Hannatu Musawa, UN praise 15-year-old for breaking record A Nigerian 15-year-old painter with autism, Kanyeyachukwu Tagbo Okeke, has broken the Guinness World Record for largest art canvas by an individual. The artwork, spanning 12,303 square meters and titled “Impossible is a Myth,” took him 12 weeks to complete. While addressing people at the presentation of certificate by the Guinness World Record Organisation yesterday in Abuja, UN Resident Coordinator in Nigeria, Mohamed Fall, described the art piece as an extraordinary masterpiece, one that…

Benue takes National Sports Festival Torch of Unity Gov. Hyacinth Alia of Benue Benue takes National Sports Festival Torch of Unity. * States past administrations didn’t take cognizance of sports like the present. Governor Hyacinth Alia of Benue received the Torch of Unity for the National Sports Festival on Wednesday. The event is set to take place in Ogun from May 16 to 30. Benue Deputy Governor, Sam Ode, accepted the torch from the National Sports Commission delegation on behalf of Alia. The governor described the visit as a symbol of unity that would bring sports lovers together and strengthen…