GBN

Lagos, April 17, 2025 – The Ports Terminal Multiservices Limited Command of Nigeria Customs Service, realized N189.5 billion as revenue during it operations from November 2024 to mid-April 2025 with the adoption of the Unified Customs Management System known as B’Odogwu. Abdullahi Abubakar, the Spokesman for the command, announced this in a statement. He said the command realized ₦90 billion revenue from January to March 2025, which is 38.8 per cent higher than the ₦66 billon collected in the same period of 2024. The statement quoted Tenny Daniyan the Customs …

Lagos, April 17, 2025 – Tier one bank, Fidelity Bank PLC, has been named “Nigeria’s Best Private Bank” at the prestigious Euromoney Awards 2025. The recognition was formally unveiled at the awards ceremony held recently at The Savoy in London.  The Euromoney Awards for Excellence are prestigious annual honors and a benchmark for excellence in the global banking and finance industry. Established by Euromoney magazine, the awards highlight outstanding performance, innovation, leadership, and service excellence across various financial sectors and regions. Commenting on the award, Dr. Nneka Onyeali-Ikpe, the Managing …

London, April 17, 2025 – PricewaterhouseCoopers (PwC) has announced the closure of its operations in nine Sub-Saharan African countries. The accounting and management firm disclosed this in a statement on its website, citing the outcome of a strategic review aimed at streamlining its global network. The affected countries include the Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo, the Republic of Congo, the Republic of Guinea, and Equatorial Guinea. The company also said the decision was informed by the broader strategy to concentrate on markets with long-term …

Frankfurt, April 17, 2025 – The European Central Bank made yet another 25-basis-point interest rate cut on Thursday as global tariff turmoil has created widespread uncertainty and spurred fears about the euro zone’s economic growth. A rate cut was fully anticipated by markets, with a roughly 94% chance of a 25-basis-point trim being priced in ahead of the decision, according to LSEG data. The cut takes the ECB’s deposit facility rate, its key rate, to 2.25%. At its highs in mid-2023 it had been at 4%. Tariff developments in recent …

Washington, April 17, 2025 – President Donald Trump said Federal Reserve Chair Jerome Powell’s termination from his position can’t come quickly enough, arguing that the US central bank should have lowered interest rates already this year, and in any case should do so now. Trump, derisively nicknaming the Fed chairman he nominated in his first term as “Too Late,” wrote in a post on his Truth Social platform Thursday morning that “Powell’s termination cannot come fast enough!” It was not immediately clear if the post meant Trump was referring to …

Abuja, April 17, 2025 – Bashir Bayo Ojulari, the Group Chief Executive of the Nigerian National Petroleum Company Limited (NNPC Ltd), has reaffirmed his commitment to forging strong and effective partnerships with key stakeholders. He said the partnerships would enable him to successfully deliver on the strategic mandate entrusted to him by President Bola Tinubu. Ojulari made this pledge on Wednesday during a courtesy visit to Sen. Heineken Lokpobiri, the Minister of Petroleum Resources (Oil), underscoring a shared vision of progress and performance for Nigeria’s oil and gas industry. Speaking …

Niamey, April 17, 2024 – Nigeria has reduced electricity supply to Niger Republic by 42 per cent from 80 megawatts to 46MW. Haoua Amadou, Niger’s Energy Minister, disclosed this to AFP after complaints by its citizens and an improved adoption of solar energy sources. The power supply cut has caused the country’s electricity production to fall by 30 to 50 per cent and forced state-owned power company Nigelec to impose planned power cuts that can last several days, especially in Niamey. Recall that in 2023, Nigeria suspended much of its …