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FAAN Rewards 2 Honest Security Guards Who Returned Bag Of Dollars

FAAN Rewards 2 Honest Security Guards Who Returned Bag Of Dollars

Two honest security guards at the Murtala Muhammed International Airport (MMIA), Ikeja, who had earned the commendations of President Muhammadu Buhari and many Nigerians, were on Thursday rewarded with N250,000 each. The duo: Messrs Francis Emepueaku and Achi David are ...

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NIMASA’s Annual Contribution To Federation Account Hits N20bn

Stakeholders Frown At NIMASA’s Misplaced Priority As Agency Remits N20bn

Following the financial re-engineering at the Nigerian Maritime Administration and Safety Agency (NIMASA), the agency’s annual contribution to the Federal Government’s purse has risen to N20 billion. A report from the Agency on Thursday said that NIMASA’s remittances to the ...

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Nigeria’s oil exports to hit four-month high in October

BP, others shun Nigeria’s crude oil over prices

Nigeria’s oil exports are expected to rise to their highest in four months in October, thanks to supply of several larger grades coming back online following a series of pipeline outages in the last couple of months. Loading of Nigerian ...

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Ship ‘carrying weapons to Nigeria detained in South Africa’

Ship ‘carrying weapons to Nigeria detained in South Africa’

South Africa yesterday detained a Russian ship laden with weapons and allegedly bound for Lagos, Nigeria. The vessel said to have left Madagascar was stopped near Port Elizabeth in South Africa’s Eastern Cape Province.“We are aware that she has dangerous ...

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CBN Prohibits Trading, Loan Refinancing in New Credit Scheme

New CBN Regulation  Checks  Ship Demurrage, Container Deposit, Forex  Abuse

• Limits maximum facility to N10bn • Repayments to be remitted quarterly The Central Bank of Nigeria (CBN) Thursday prohibited operators involved in trading activities from accessing its real sector support facility and warned banks that attempt to “falsify through ...

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Poor Power Supply to Persist as Gas Shortage Lingers

Poor Power Supply to Persist as Gas Shortage Lingers

There is no end in sight for the country’s poor power supply with five generating plants remaining shut down as inadequate gas supply to the plants lingers, media has learnt. A report obtained by media source from the Advisory Power ...

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Ecobank Appoints Anan-Ankomah Group Executive

Ecobank Appoints Anan-Ankomah Group Executive

Ecobank Transnational Incorporated (ETI), the Lome-based parent company of the Ecobank Group has announces the appointment of Josephine Anan-Ankomah as Group Executive, Commercial Banking with immediate effect. This appointment followed an internal recruitment process. As a member of the Group ...

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Freight Levy Review Lifts Nigeria’s Cargo Volume by 31.2%

2019 Elections: Amaechi Kills Dakuku’s Dream, May Spark Crisis In NIMASA

The Director General of the Nigerian Maritime Administration and Safety Agency NIMASA (NIMASA), Dr. Dakuku Peterside has stated the inward cargo throughput of Nigeria’s seaports recorded a 31.24 per cent increase between January-June 2018, following the decision of the agency ...

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FG, ECOWAS to Review Flight Charges

FG, ECOWAS to Review Flight Charges

The federal government has started series of meetings with some countries in West and Central Africa to review airport charges on Nigerian airlines. Nigerians that operate West Coast destinations complain that they are made to pay exorbitant charges by some ...

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Why multinationals, IOCs defy listing on NSE

Why multinationals, IOCs defy listing on NSE

Efforts by the Nigerian Stock Exchange (NSE), to woo multinational companies in the telecoms, and oil and gas sectors to list on the nation’s bourse may continue to ‘hit a brick wall’, unless government withdrew completely from private business. More ...

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Refineries: Probe that scam called TAM

Refineries: Probe that scam called TAM

It is still curious why no anti-corruption agency has launched any probe into the apparently dubious turn-around maintenance (TAM) contracts that have never turned around Nigeria’s four refineries over the years. That is why no one was surprised the other ...

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NNPC, others sign pact to develop Bayelsa state’s oil communities

NNPC, others sign pact to develop Bayelsa state’s oil communities

The Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture have signed a Global Memorandum of Understanding (GMoU) with KEFFES Rural Development Foundation (KDRF) to better the lot of host communities in ...

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Buhari to commission $250m International Breweries in Ogun

Buhari to commission $250m International Breweries in Ogun

President Muhammadu Buhari will on Tuesday, next week inaugurate the $250million state-of-the-art International Breweries in Ogun State. The brewery, said to be the biggest in West Africa, is located at kilometre 3, Flowergate Industrial Scheme, along the Abeokuta-Sagamu Expressway. The Plant ...

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Ngige accuses governors of delaying new minimum wage

Ngige accuses governors of delaying new minimum wage

The Minister of Labour and Employment, Dr Chris Ngige, has attributed the delay in the approval of a new minimum wage for Nigerian workers to the inability of the state governors to come up with an agreed figure. Ngige, who ...

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FG to establish $8.5m truck transit park in Enugu state

FG to establish $8.5m truck transit park in Enugu state

The Federal Government, through the Nigerian Shippers council (NSC), has disclosed plans to establish Truck Transit Park (TTP) in Ogbulafor Enugu State, at an estimated cost of $8.5million. The Executive Secretary, NSC, Hassan Bello, while receiving the Outline Business Case ...

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Oil majors, tanker owners defy presidential orders

Oil majors, tanker owners defy presidential orders

The directives by Vice President Yemi Osinbajo aimed at easing traffic congestion in the Apapa area of Lagos State and ensuring the relocation of oil companies’ headquarters to the Niger Delta have not been complied with. Some oil companies have ...

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SPDC announces clean-up in Aghoro, Odimodi

SPDC announces clean-up in Aghoro, Odimodi

• ERA/FoEN wants independent report The Shell Petroleum Development Company of Nigeria Limited (SPDC), says it has recovered over 95 per cent of spilled oil from the recent spill incidents on sections of the Trans Ramos Pipeline (TRP) in Aghoro ...

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Nigeria Wasted $1tn Earned in Oil Booms, Says Report

Drop in US Inventories, Iranian Sanctions Push Oil Price to $80

But for the recurring wastefulness of federal government, the country could have used about $1 trillion it earned from its production and sale of crude oil in five different oil booms to develop and diversify its economic base, a report ...

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FDI Grows 5.97% to $261.35m in Q2

FDI Grows 5.97% to $261.35m in Q2

Total Foreign Direct Investment (FDI) stood at $261.35 million in the second quarter of 2018, growing by 5.97 per cent from the first quarter of the same year, but falling by 4.75 per cent when compared with the corresponding quarter ...

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Political tension, sell-off sustain pressure on NSE’s indices

Political tension, sell-off sustain pressure on NSE’s indices

Analyst sees gloomy week, as bargain hunting continues Political tension aheadof the 2019 general elections, persistent sell-offs, as a reaction and bargain hunting by investors, have continued to spur free fall of equity prices. Consequently, the All-Share Index and market ...

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