For the first half of the year, ended June 30, 2021, telecommunications service provider, MTN service revenue hit N790.3 billion, an increase of 24.1 per cent. Its profit before tax (PBT) of N215.1 billion and profit after tax (PAT) of N141.8 billion in its half-year (H1) operations. The financial report showed pre-tax profit growth of N215 billion, representing a 54.1 per cent increase, while profit for the period soared by 49.5 per cent to N141.827 billion. MTN, which disclosed this in its unaudited results for the half-year 2021, said earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 27.6…
Author: Temitope N.
The National Pension Commission (PenCom) has revealed plans to commence a pilot scheme of its online pre-retirement verification and enrolment exercise for retirees in government ministries, departments and agencies (MDAs) in the country. The commission, at a workshop titled ‘Positioning the Pension Industry in a Post-COVID Era’ held in Lagos, said the enrolment will take off between August 2nd to 20th 202 PenCom said it could register, verify and enroll prospective retirees of treasury-funded federal government MDAs to compute their accrued pension rights and budgetary allocations.As a prelude to the formal deployment of the online enrolment application, the commission would…
Data suggest increasing perception about naira The dollar pulled back at the parallel market at the weekend on the strength of rising market optimism and ease of panic over the stoppage of foreign exchange sale to the bureau de change (BDC) operators. The dollar traded between N505/$ and N515/$ in the Lagos market at the weekend. On Wednesday, a day after the announcement of the new policy by the Central Bank of Nigeria (CBN), the naira fell to N525/$ raising the fear that it would hit N550/$ in the next few weeks. There will panic across the market after a…
The News Agency of Nigeria (NAN) recalls that the CBN had last week stopped sales of FX through Bureau de Change Operators and announced that foreign exchange would now be sold through commercial banks. A visit to some commercial banks in Abuja on Monday by NAN correspondent showed that they were in full compliance to the directive. Checks at Fidelity Bank, Keystone Bank and Zenith Bank, all in the Central Area of Abuja, showed that they all had designated teller points for FX transactions. At all the banks visited, officials said that the dollar was selling at an official rate…
The Nigeria Customs Service says 30 out of 65 private airplanes verified so far are liable to pay required duties to the Federal Government. The Customs Public Relations Officer, Mr Joseph Attah, made this known while speaking with newsmen in Abuja on Sunday. Attah explained that some of these airplanes came into the country by Temporary Importation agreement which allows them to bring the jets without payment because it was secured by bond. He said thereafter many of them failed to turn up to pay on the expiration of the agreement which necessitated the verification. He stated that with this…
The Independent Petroleum Marketers Association of Nigeria on Saturday threatened to suspend the supply and distribution of products within its designated Eastern Zone effective Monday. IPMAN’s strike notice, which was contained in a circular signed by the association’s National President, Sanusi Fari, is coming against the backdrop of alleged harassment of its members by the police. Depots to which IPMAN supplies products in its designated Eastern Zone include Aba, Calabar, Enugu, Makurdi, and Port Harcourt. “Following the series of unwarranted attacks by the police against IPMAN, Eastern Zone comprising the National Executive Committee of IPMAN resolved that members withdraw their…
The Board of Directors of Seplat Energy Plc today announces the appointment of Dr. Emma FitzGerald as an Independent Non-Executive Director of the Company, joining the Seplat Board with effect from 1st August 2021. Dr. FitzGerald replaces Lord Mark Malloch-Brown who retired from the Board of the Company. Dr. FitzGerald is a seasoned executive in Energy & Water, with hands-on experience in transformation through her many years of working at Shell, ranging from building its lubricants business in China to running its Global Retail network. From 2007-2010, she was accountable for Shell’s Downstream strategy and played a key role in…
The representative of Ekeremor Constituency 2 in the Bayelsa State House of Assembly, Wilson Ayakpo Dauyegha, has tackled alleged negligence of his community by the Bayelsa Oil Company Limited (BOCL), of not carrying out its statutory Corporate Social Responsibilities (CSR). Dauyegha, in a statement, yesterday, added that despite the goodwill enjoyed by BOCL, it abysmally failed to reciprocate the gesture. The Deputy Minority Leader, however, hailed the Federal Government for awarding the Atala Oil Field to an indigenous oil exploration company, adding that any other decision would have been perceived as utter neglect towards the interest of the host communities.…
World energy giant, Shell, has named Elohor Aiboni as the Managing Director of its Nigeria deep-water business, Shell Nigeria Exploration and Production Company Limited (SNEPCo), with effect from 1st August 2021. Elohor is the first female to lead a Shell exploration company in the over 60 years of Shell’s operations in Nigeria. She succeeds Bayo Ojulari who retired on 31st July 2021 after five years as SNEPCo’s MD and over 30 years of service in the Shell group. Until this appointment, Elohor was the Bonga Asset Manager responsible for overseeing end-to-end production delivery for Nigeria’s pioneer deep-water Floating Production, Storage…
The Ogun State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, has assured that the state will maintain its leadership position as preferred investor destination in Nigeria, as can be confirmed by recent data from the Nigerian Investment Promotion Council (NIPC). NIPC in its recent report showed that 30 percent of the total investments in Nigeria was in Ogun State with $500 million new investments, the highest in the country for the second quarter of 2021. Mrs. Longe who dropped the hint while speaking with news men in Oke-Mosan, Abeokuta, said the present administration would continue to implement business-friendly…