Dr Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), has appealed to motorists and other consumers of petroleum products across the country not to engage in panic buying of products over the Nigeria Labour Congress (NLC) planned industrial action. Read more
Rising from the September Monetary Policy Committee (MPC) meeting, yesterday, in Abuja, the Central Bank of Nigeria (CBN) expressed worry over rising election spending, saying it is impacting negatively on inflation. Read more
The Economic and Financial Crimes Commission has commenced investigation of the directors of the defunct Skye Bank for prosecution. Read more
MTN’s shares rose 2.6% by the close, gaining for a fifth straight day. Picture: Waldo Swiegers/Bloomberg After coming out all guns blazing, Nigeria’s central bank surrendered some ground in its tussle with MTN Group, pledging that a dispute over the repatriation of $8.1 billion in dividends from the country will soon be resolved. Read more
The senior Energy Solutions Expert, Nigeria Enterprise Business Development, Mr. Samuel Orji, has revealed that the company has put up a 76 million dollars investment in Nigeria so far, with two training centers in Lagos and Abuja, where they build capacity. Read more
The Federal Government will offer 10 state-owned companies for sale to selected investors and the public in the fourth quarter to raise N289bn toward funding the 2018 budget, the Bureau of Public Enterprises said. Read more
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat. Read more
Lagos Deep Offshore Logistics (LADOL) Group is willing to settle with Samsung Heavy Industries (SHI) over ownership of the $300 million integration and fabrication yard at the Lagos Free Trade Zone (FTZ), only on its terms. Read more
The Central Bank of Nigeria has said it will review its decision on the $2.632bn regulatory fine it imposed on Stanbic IBTC Bank Plc on the basis of the Certificates of Capital Importation to MTN Nigeria Communications Limited. Read more
No less than 13,000 customers of a wonder bank, Micheno Multipurpose Cooperative Society (MMCS) in Cross River State, have been duped of their money running into N27 billion. Read more
The Nigerian Stock Exchange, NSE has notified the investing public that the shares of Skye Bank Plc will be suspended from trading on the floor of the Exchange effective Monday, 24 September 2018. Read more
Retail prices of fuel in India crossed a life-time high of Rs 90 a litre in Maharashtra on Monday. Coupled with this, the Organization of the Petroleum Exporting Countries’ (OPEC) latest demand outlook is going to further raise problems for the country. Read more
RIVERS State dislodged Lagos State as the number one foreign investment destination in Nigeria in the first half of 2018,according to an investment profile report by the Nigeria Investment Promotion Commission (NIPC). Rivers received 35% of the $45.74 billion invested in 42 projects in nine states and the Federal Capital Territory (FCT) during the period, […]
A Nigerian police investigation has retrieved hundreds of millions of dollars in stolen state oil funds. It came as an Italian court sentenced two men to four years in jail in a case involving Eni and Shell in Nigeria. Read more
Nigeria’s oil unions say they are ready to call a nationwide strike to protest a decision by U.S. oil giant Chevron Corp. to close out thousands of employment contracts at the end of the month. Read more
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, at a press conference in Lagos announced that the apex bank has revoked operating licence of Skye Bank Plc with immediate effect. Read more
More than 30 Indian passengers, some bleeding from their noses and ears, have received treatment after pilots “forgot” to turn on a switch regulating cabin pressure, officials said. Read more
The Federal Government yesterday sold 21 percent of its stake in the Nigeria Security Printing and Minting Company (NSPMC), amounting to 12.4 billion shares to the Central Bank of Nigeria (CBN) and the Bureau of Public Enterprises (BPE). Read more
ABUJA- Central Bank of Nigeria, CBN, and the Bureau of Public Enterprises, BPE, on Tuesday signed the instrument for the sale of 21 percent of the federal government’s interest in the Nigeria Security Printing and Minting Company, NSPMC. Read more
Hydrogen trains Coradia iLint needs to eventually replace all diesel trains. Sunday, September 16, in Germany, the world premiere of the first hydrogen-powered train, which begins regular passenger service since the 17 of September. Read more