Author: Nationalmonitor

Dangote Petroleum Refinery & Petrochemicals has announced another reduction of N15 in the price of its high-quality Premium Motor Spirit (PMS). As a result of this reduction, Nigerians will now purchase the product at the following prices: N875 per litre in Lagos; N885 per litre in the South West; N895 per litre in the North West and North Central, while it will be sold for N905 per litre in the South East, South South, and North East.These prices will apply through all its partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde. The refinery called on other…

By Aniekan Ezekiel What happens when legacy meets preparedness? What results from such a combination? Let us not be in a hurry to put forward any answers yet. Instead, let us consider first the opposite situation: When legacy meets unpreparedness.The world abounds in examples of this distressing situation. A dynasty that has built wealth from generation to generation, with its illustrious heirs providing generational leadership, finds itself in a strange phase where an ill-prepared heir takes over the reins and in that same generation, not the next, wipes out the entire family fortune built over several generations. We see the…

In a decisive move underscoring unwavering confidence in Fidelity Bank Plc’s resilience, Managing Director and CEO, Dr. Nneka Onyeali-Ikpe has acquired an additional 18 million shares of the bank, valued at approximately ₦366 million.According to a regulatory filing posted on the Nigerian Exchange Group (NGX) Disclosures portal, this strategic investment was executed at ₦20.35 per share on May 19, 2025, the same day an online platform published an unsubstantiated report on a Supreme Court ruling in a decades-long case that the bank inherited from the defunct FSB International Bank that it absorbed in 2005.Dr. Onyeali-Ikpe’s latest acquisition is not an…

By Ikechukwu Amaechi Fidelity Bank Plc has dismissed as unfounded the story making the rounds that it is on the verge of bankruptcy following a Supreme Court judgment linked to a legacy $3 million credit facility granted by the defunct FSB International Bank in 2002.The bank made the clarification on Monday, assuring the general public, depositors and stakeholders that it remains financially strong despite court judgment.In a statement by its Divisional Head, Brand & Communications, Meksley Nwagboh, Fidelity Bank called for calm, stating that it was currently seeking judicial clarification on the accurate computation of the judgment sum. “By way…

inDrive, a leading global ride-hailing platform operating in nine African countries, has officially launched its Law Enforcement Request Portal to support safety investigations in Nigeria.According to the management of inDrive, the online portal offers a dedicated and secure channel for authorised Nigerian law enforcement officials or agents to formally request user data, strictly for public safety and law enforcement purposes.Speaking on the launch, the Country Government Relations Manager, inDrive, Mary-Anne Momoh-Ige, emphasised the significance of the initiative, noting that it reflects the company’s commitment to fostering strong collaboration with law enforcement agencies.“The launch of this portal reaffirms our dedication to…

Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, recently hosted the fourth edition of its flagship Career Fair at the Landmark Event Centre, Lagos. Themed “The Talent Paradox: Enabling the Talent Ecosystem in Africa,” the one-day event brought together thousands including industry leaders, professionals, students, and job seekers for an immersive experience focused on unlocking the potential within Africa’s talent pipeline. During the event, participants engaged in a dynamic series of keynotes, panel sessions, and mentoring sessions that challenged conventional thinking and sparked new ideas around the future of work in Africa. From practical career resources…

The $325 million debt package brings the Fund’s recent capital raises to $620 million, significantly surpassing its target of raising $500 million by the end of 2025. Since 2018, EAAIF has raised more than $1 billion in commitments across three debt raises.New funding fuels EAAIF’s plan to deploy over $1 billion to critical infrastructure projects in Africa and Asia by 2028.London, 20 May 2025: The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company managed by Ninety One, has successfully raised $325 million in new debt facilities, bringing recent commitments to $620 million and exceeding…

World’s largest operator of international First Class travel continues to finesse the experience Emirates is the world’s largest operator of international First Class travel – offering 26,800 seats a week and the largest inventory of international First Class seats in the industry, entirely comprised of private suites. Emirates continues to refine its First Class ‘Fly Better’ experience, with an array of new enhancements for First Class customers; from keepsake menus to gloved service, luxurious lounge-inspired check in areas in Dubai, to the memorable ritual of unlimited caviar onboard. Finessing the finer details of hospitality and service, the latest enhancements onboard…

By Udeme Etukeyen Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial Institution in recent years I was forced to ask “what is Fidelity Bank” doing right?My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N385.2 billion in FY 2024. Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N5.9 trillion in 2024FY, Gross earnings shooting by 87.7% to N1,043.4 billion which was primarily caused by a 106.9% increase in interest and…

L-R: Executive Vice Chairman/ Chief Executive Officer, Nigerian Communications Commission (NCC), Dr. Aminu Maida and Ag. Director General, National Communications Authority (NCA), Ghana, Edmund Fianko, during a benchmarking visit of the NCC to the NCA in Ghana recently.