Oil production drops by 150,000 barrels …as Shell shuts Trans Niger Pipeline
Nigeria faces a serious credit crunch in the months ahead as crude oil production has dropped further by 150,000 barrels per day due to continuing theft and vandalism of crude pipelines. The Shell...
View ArticleFG grounds Kenyan aircraft at Lagos airport
The Federal Government on Thursday confirmed that it grounded a Kenyan aircraft that brought in three Nigerian deportees to the Murtala Muhammed International Airport, Lagos for non-adherence to...
View ArticleBroadband: FG targets 60,000 base stations by 2018
The Federal Government has said it will encourage service providers to increase the number of telecommunications base stations in the country from the present 27,000 to 60,000 to meet the national...
View ArticleJonathan approves new heads for DPR, Shippers Council
President Goodluck Jonathan on Thursday approved the appointment of Mr. George Osahon as the new Director of the Department of Petroleum Resources. Jonathan also approved the appointment of Mr....
View Article‘Presidency has no excuse for not implementing budget’
The Chairman, House of Representatives Committee on Appropriation, Mr. John Owan-Enoh, has said the delay in amending certain clauses in the 2013 Appropriation Act as demanded by the Presidency is not...
View ArticleFG to strengthen microfinance banks
Nigerian Deposit Insurance Company on Thursday said that the Federal Government had concluded plans to address the challenges facing the microfinance banks. Managing Director and Chief Executive...
View ArticleCustodian and Allied Insurance restructures
Following regulatory and legal approvals of the business combination between Custodian and Allied Insurance Plc and Crusader Nigeria Plc, the merged entity known as Custodian and Allied Plc, has...
View ArticleLASACO deploys ICT for online services
LASACO Assurance Plc has said it is making the insuring public to have easy access to insurance policies through the effective deployment of world-class Information and Communications Technology...
View ArticlePolicemen with accounting background redeployed to pay offices
The Inspector-General of Police, Mr. Mohammed Abubakar, has ordered the posting of police personnel with financial and accounting background to man police pay offices nationwide. Abubakar gave the...
View ArticleFashola, Lemo, others to appraise cash-less policy
Governor of Lagos State, Mr. Babatunde Fashola and the Deputy Governor, Operations of the Central Bank of Nigeria, Mr. Tunde Lemo have been selected among the stakeholders in the payment system to...
View ArticleRussia’s VTB seeks co-investor for Tele2
Russian state-controlled bank VTB said on Thursday it wanted to sell part of its stake in Tele2 Russia to help develop the country’s fourth-largest mobile phone company, but would not consider...
View ArticleSPDC to invest $3.9bn in TNPL, Gbaran-Ubie
The Shell Petroleum Development Company of Nigeria Ltd has concluded plans to invest $3.9bn on the Trans Niger Pipeline loop-line and the Gbaran-Ubie Phase Two projects. The operator of the Nigerian...
View ArticleTribunal orders Mobil to pay $83.4m education tax to FIRS
The Tax Appeal Tribunal, Lagos Zone, on Friday ordered Mobil Producing Nigeria Unlimited to pay $83.4m (N13bn) education tax to the Federal Inland Revenue Service. The News Agency of Nigeria reports...
View ArticleFCTA to build 14 rail stations
Preparatory to the inauguration of the Abuja Rail Project, the FCT Administration will soon perform the ground breaking for 14 rail stations across the Federal Capital Territory and some satellite...
View ArticleWe’ll ensure judicious use of housing loan – OGSG
When released, the N2bn housing loan which the Ogun State Government intends to access from the Federal Mortgage Bank will be used to build affordable housing units of various sizes across the three...
View ArticleUnion Bank adopts initiatives to drive growth
Union Bank of Nigeria Plc has said that it will adopt sustainable strategies aimed at driving the growth of the business in the coming years. A statement by the bank on Friday, said that the bank was...
View ArticleBritain’s FTSE hits five-month low
Britain’s top shares slid to five-month lows on Thursday after the United States Federal Reserve said it planned to slow its stimulus programme later this year. Reuters reports that the FTSE 100 index...
View ArticleShare prices in see-saw back to losses
United States and European share markets have returned to losses, but at a shallower rate than those seen on Thursday. Shares in the UK, France and Germany slumped in late trading after Wall Street...
View ArticleNSE fines Julius Berger, Costain, others for defaulting
The Nigerian Stock Exchange has imposed a fine of N14.8m on Julius Berger Nigeria Plc, Costain (West Africa) Plc and six other quoted companies for various infractions. The information obtained by our...
View ArticleHow technology is making us lose the human touch
As I sat in front of my laptop, trying so hard to knit this article together, it just occurred to me how much my life has been virtually wired around the Internet, the World Wide Web, Information...
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