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Dangote Refinery Receives Only Five Of 15 Crude Cargoes Monthly — CEO

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The Chief Executive Officer of Dangote Refinery, David Bird, has disclosed that the 650,000 barrels-per-day refinery currently receives only about five crude oil cargoes per month, significantly below its agreed crude oil supply under the Federal Government’s crude-for-naira arrangement. Bird disclosed this during an interview on ARISE News on Wednesday, noting that the refinery is designed to handle 13 to 15 cargoes monthly to meet Nigeria’s domestic fuel requirements. “Currently, we’re only getting five. So, that’s an underperformance against the pre-agreed volume contract,” he said. He noted that the gap between crude purchase prices and prevailing premiums represents revenue going to international traders rather than Nigeria. “That value between the purchase price and the premium we’re now seeing is money Nigeria is losing to the international trading community,” he added. On the crude-for-naira policy, Bird clarified that it is designed to support national foreign exchange resilie...
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NMDPRA’s Fresh Import Licences Will Encourage Dumping of Low-Quality Petrol, Undermine Local Refineries — Energy Transparency Group

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The decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to resume the issuance of petrol import licences has drawn sharp criticism from industry advocates, who warn that the move risks undermining domestic refining efforts and exposing the market to substandard fuel products. In a statement issued on Wednesday, the Energy Transparency and Market Justice Initiative (ETMJI) condemned the regulator’s action, describing it as a policy reversal that could weaken recent gains in local supply while encouraging the inflow of lower-quality petroleum products. The regulator had earlier maintained that domestic refining capacity was sufficient to meet national demand, suspending the issuance of import licences in February. However, following supply disruptions linked to the Middle East crisis, the agency granted fresh licences to six marketers to import about 180,000 metric tonnes of petrol in a bid to stabilise supply. While the NMDPRA has framed the move as...
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Zamfara 2027: Northern APC Peace Agenda Applauds Matawalle, Dauda Lawal's Reconciliation ...Commends Matawalle's Large Heart, Love For President Tinubu's Success Above Personal Interest

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The Northern APC Peace Agenda has commended the political reconciliation between Zamfara State governor, Dauda Lawal, and his predecessor, Bello Matawalle, describing their alliance under the All Progressives Congress (APC) as a stabilising development ahead of the 2027 elections. In a press statement issued on Wednesday in Kaduna and signed by its president, Alhaji Rabiu Ahmad, the group said Matawalle’s decision to forgo any governorship ambition and back Lawal reflects political maturity and a broader commitment to unity within the ruling party. Matawalle, who currently serves as minister of state for defence, had publicly declared that he would not contest the 2027 governorship election, throwing his weight behind Lawal during a high-profile reception marking the governor’s defection to the APC in Gusau. Lawal’s move from the Peoples Democratic Party (PDP) to the APC effectively realigns Zamfara’s political landscape, bringing both the incumbent and former governors into the same p...
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Polaris Bank Positions Gender Equity As Growth Strategy At IWD 2026

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Photo Caption: L-R; Belinda Nkechi Idinmachi, Entrepreneurship Specialist, ALX Founder Academy; Subulade Giwa-Amu, Non- Executive Director, Polaris Bank; Kayode Lawal, Managing Director/CEO, Polaris Bank; Tomi Somefun, Former Managing Director /CEO for Unity Bank Plc, & Abimbola Ozomah, Executive Director, Corporate & Investment Banking during the International Women's Day celebration in Lagos recently. Polaris Bank has reinforced its commitment to deepen gender equity as a business and growth imperative during its 2026 International Women’s Day (IWD) event, spotlighting sustained investments in women’s empowerment, financial inclusion, and leadership development. In line with this year’s theme, “Give to Gain,” highlighting a call to action for accelerating gender equality through generosity, collaboration,and investment in women. The speakers emphasized intentional contribution as a catalyst for collective progress. Speaking at the event, the Managing Director/CEO, Kayode ...
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JUST IN: Court Voids CBN’s Sack Of Union Bank’s Board, Restores Core Shareholders

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A Federal High Court in Lagos has nullified the 2024 dissolution of the board and management of Union Bank of Nigeria by the Central Bank of Nigeria (CBN), describing the action as exceeding the regulator’s legal authority. Delivering judgment on Wednesday, Justice Chukwujekwu Aneke set aside all decisions taken by the CBN-appointed board and ordered the immediate restoration of the bank’s former board and management. The court also restrained the CBN, its appointees, and agents from taking any further steps regarding the bank’s recapitalisation or related actions. The dispute stems from January 2024, when the apex bank dissolved Union Bank’s leadership and installed a new management team, including Yetunde Oni as managing director/CEO and Mannir Ringim as executive director. However, the bank’s core shareholders, Titan Trust Bank, Luxis International, and Magna International challenged the move in court. They argued that the CBN’s intervention, including the planned recapitalisation, ...
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Zenith Bank Appoints Kennedy Okwudili As Executive Director

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Zenith Bank Plc has announced the appointment of Mr. Kennedy Onuwa Okwudili as an Executive Director of the bank effective May 1, 2026. The appointment, which is consistent with the bank’s tradition and succession strategy of grooming leaders from within, will further strengthen the bank’s Executive Management. Mr. Okwudili graduated with a Bachelor of Science (Honours) in Accounting in 1998 from the University of Maiduguri, Nigeria, with a Second Class Upper division. He obtained a Masters of Business Administration (MBA) from the Ahmadu Bello University, Zaria, Nigeria in 2008 and a Masters of Science in Accounting from Veritas University, Abuja, Nigeria in 2021. Mr. Okwudili has over twenty-five years of cognate banking experience spanning credit and marketing, treasury, compliance as well as operations and had at different times worked in various zones and departments of the bank. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), 2013, a Fellow of the Char...
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Ogun Takes Over Prosecution, Counters Claims In NYSC Official’s Case

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The Ogun State Government has dismissed claims circulating online about the strength of evidence in the case against Abass Olalekan, a Local Government Inspector (LGI) with the National Youth Service Corps (NYSC) in Abeokuta South. Mr. Olalekan was arraigned on 23 March 2026 before Magistrate Court 1 in Isabo, Abeokuta, on a two-count charge. He was subsequently granted bail, a decision the government says has been widely misinterpreted in public commentary. In a statement issued on Tuesday, the Attorney-General and Commissioner for Justice, Oluwasina Ogungbade (SAN), clarified that the grant of bail was based solely on the bailable nature of the charges and does not reflect the strength or quality of the evidence. The Attorney-General’s office also confirmed that it has taken over the prosecution of the case after receiving the case file from the State Police Command. According to the statement, the charges are based on findings from a police investigation alleging that Mr. Olalekan w...
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