Ogochukwu Onwaeze, THEWILL

The warning was issued by NDIC’s Head of Legal Unit, Oladipo Kushimo, during a breakout session titled “Too Big to Fail?” at the Nigerian Bar Association’s Annual General Conference in Port Harcourt.

According to the notice, the Federal High Court in Lagos granted Universal Insurance leave to commence proceedings against NAICOM and other respondents over what the insurer described as the “purported cancellation” of its licence and the receivership that followed.

The latest adjustment was contained in an official communication issued to customers on Tuesday by the refinery’s Group Commercial Operations.

Inflation is slowing, external reserves have climbed, and several major companies are reporting stronger profits. At the same time, borrowing remains expensive, food prices are still putting pressure on household budgets, and investors can now earn relatively high returns from fixed-income instruments.

The funds were raised through eight Federal Government of Nigeria bond auctions conducted by the Debt Management Office during the period, as investors continued to show strong appetite for government securities despite the government’s cautious approach to borrowing costs.

The initiative is designed to address one of Nigeria’s long-standing infrastructure gaps: the difficulty of accurately identifying and locating people, businesses and properties, particularly in areas where formal street addresses are limited or unreliable.

The latest balance represents a 15.6 percent increase from the $45.57 billion recorded on January 2, strengthening Nigeria’s external liquidity position and providing the Central Bank of Nigeria (CBN) with a larger buffer to manage foreign exchange pressures and meet international obligations.

Latest data on Nigeria’s midstream and downstream petroleum operations showed that domestic Premium Motor Spirit (PMS) supply declined by 21 percent in July, while petrol imports increased by 9 percent. Total daily petrol receipts also fell 10 percent, from 50.6 million litres in June to 45.5 million litres in July.

The All-Share Index (ASI) fell by 265.99 points from its opening level of 239,351.16 to close at 239,085.17. Similarly, market capitalisation declined by N137 billion, from N154.533 trillion at the opening to N154.396 trillion at the close.

The agreements comprise an addendum to the OML 118 Production Sharing Contract (PSC) and an addendum to the Dispute Settlement Agreement (DSA), executed by NNPC, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Esso Exploration and Production Nigeria (Deepwater) Limited and Nigerian Agip Exploration Limited (NAE).