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The Federal High Court, presided over by Honourable Justice Aluko, has granted an application by United Bank for Africa (UBA) Plc for substituted service of Form 49 on directors of Wempco named as alleged contemnors in the case of UBA v. Wempco.
The application forms part of proceedings seeking to determine whether the named individuals disobeyed an order of the co...
• Unveils 132/33kV power transformers
The Federal Government has fixed March 2027 for the completion of a new 132/33kV transmission substation in Mashi Local Government Area of Katsina State, as part of efforts to strengthen electricity supply and boost economic activities across the state.
The Minister of Power, Mr. Joseph Olasu...
Nigeria’s Ambassador to China, Lt Gen Abdulrahman Bello Dambazau (rtd), has outlined practical financial priorities for deeper bilateral ties, including reliable cross-border payments, export finance and long-term investment.
Speaking at the Central Bank of Nigeria’s ‘Strengthening the Nigeria–China Financial Corridor’ roundtable in Beijing, Dambazau said financial...
Wale Igbintade
The Lagos State High Court has granted interim preservative orders of Mareva injunction in favour of United Bank for Africa (UBA) Plc against Vitol SA, a Switzerland-based energy trading company, and four other shipping companies over a petroleum products diversion dispute involving $242 million.
UBA alleged that Vitol wrongfully released c...
Transcorp Power Plc, a power subsidiary of Transnational Corporation Plc (Transcorp Group), has reported a profit before tax of ₦83.1 billion for the nine months ended September 30, 2026, with its profit before tax margin improving to 31.2 per cent from 29.6 per cent in the corresponding period of 2025.
The company’s unaudited financial results showed that revenue ...