Ronald Adamolekun

A five-member panel of the court on Monday in Abuja ruled that the appeal court exceeded the limits of its power when it issued an ex parte application against the oil firms.

Nestoil also stated that any declaration that the receiver/manager is free to exercise unrestrained power over the company and Neconde or their assets is inaccurate, misleading, and is against current legal realities.

Nigeria, June 4 -- Abbey Mortgage Bank has secured regulatory go-ahead from the Central Bank of Nigeria (CBN) to proceed with its planned conversion to a regional commercial bank, the mortgage lender announced on Wednesday.

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The board of directors has proposed a cash dividend of N0.35 per unit, translating into a potential payout of N23.1 billion.

Mr Elumelu will take office on 1 January 2027, replacing Udoma Udo Udoma, who has informed the board of the company of its intention to retire on 31 December.

The cash distribution, amounting to N15 per share, was approved by shareholders at the 46th annual general meeting held on 26 May in Abuja.

"Our view is that the transactions in these types of structures carry risks,” said the IMF’s resident representative in Nigeria, Christian Ebeke said on Tuesday.

The president also noted that investor confidence has returned, marked by growing investments in sectors as diverse as agriculture, energy, manufacturing, technology, mining, transportation and the creative industries.

Nigeria, June 12 -- The reforms pursued by the current administration since its inauguration have restored stability and credibility to economic management, President Bola Tinubu said Friday.