Business

“Grant him bail or charge him to court”, Abuja court orders DSS

Published

3 years ago

July 13, 2023

OhiBaba

590 Views

A Federal Capital Territory High Court has ordered the Department of State Services (DSS) to charge Godwin Emefiele, suspended governor of the Central Bank of Nigeria (CBN), to court if they have criminal allegations against him.

The presiding judge Justice Hamza Muazu, also ruled that Emefiele should be released on bail if he is not taken to a competent court within one week.

PRESIDENT Bola TINUBU had on June 9 suspended Emefiele as CBN Governor. The president also asked him to transfer his responsibilities to Folashodun Adebisi Shonubi, deputy governor, of the operations directorate.

Since then Emefiele has been in the custody of the DSS

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

12 hours ago

November 5, 2026

OCHEFA

67 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

OCHEFA

118 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.