Business

Northern group urges CBN to clean up Emefiele’s ‘mess’

Published

2 years ago

June 11, 2024

621 Views

The Northern Ethnic Youth Group Assembly (NEYGA) has called on the Central Bank of Nigeria (CBN) to thoroughly clean up its structure and eliminate any lingering influences from the tenure of former Governor Godwin Emefiele.

In a statement signed by Mallam Ibrahim Dan-Musa, the group’s spokesperson, NEYGA demanded that the current management take decisive action to hold those responsible accountable.

NEYGA urged Nigerians to support the current management’s efforts to restore the CBN’s credibility and stability.

“We must embrace reform now or face the consequences tomorrow,” the statement warned.

NEYGA commended the special investigations committee led by Jim Obazee for uncovering details of the mismanagement and demanded immediate and decisive action towards reform and accountability.

Facing intense scrutiny over its handling of the country’s economy, the CBN’s current management has pledged to implement reforms aimed at stabilizing the economy and restoring public trust in the bank.

Related Topics:CBN Emefiele Northern Group

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

133 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

3 days ago

November 4, 2026

OCHEFA

172 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.