Category Archive: Business

NLNG Accuses NIMASA Of Scuttling Out of Court Settlement

The Nigerian Liquefied and Natural Gas (NLNG) Limited has accused the Nigerian Maritime Administration and Safety Agency (NIMASA) of frustrating its move to amicably resolve the protracted dispute between them. NLNG and NIMASA… Continue reading

Oando shareholders to receive N5.1bn dividend

The Group Chief Executive of Oando Plc, Mr. Wale Tinubu has said that the company’s shareholders will receive a dividend of N5.1bn for the year ended December 31, 2012.   A statement from… Continue reading

Lagos Govt Bags Award for Bond Issue

Lagos State Government has  won an international award for successfully floating  N80 billion bond in November last year. The award of ‘Best Local Currency Bond Award for 2012’, the first of its kind… Continue reading

NLNG offers out-of-court settlement in dispute with Adoke, NIMASA

The Nigeria LNG Ltd (NLNG) on Thursday told a Federal High Court in Lagos that it wished to settle its dispute with the Attorney-General of the Federation, Mohammed Adoke (SAN), the Nigeria Maritime… Continue reading

Oil Thefts Threaten Nigeria’s Economy, Environment

The first drops of crude float in the languid muddy currents of Nigeria’s oil-rich southern delta, then slowly grow into the splatter of a massive crime scene. Oil thefts, long a problem in… Continue reading

The Time Is Now For Nigerians In The Diaspora To Invest Back Home – Nigerian Investment summit in London

Nigerian Government Officials Call For Diasporans To Invest In Nigeria The first annual Nigerian Investment Summit which took place from the 28th to the 29th June in Central London’s NorthumberlandHotel encouraged the celebration of Nigerians in the diaspora.… Continue reading

Queries over N3bn expenditure: Reps insist on NSC DG’s physical appearance

The House of Representatives Committee on Public Accounts on Wednesday summoned the Director General of the National Sports Commission (NSC), Honourable Gbenga Elegbeleye over the  several auditor queries raised against the Commission by… Continue reading

Nigerians in China to meet Jonathan, want consular office in Guangzhou

AHEAD of President Goodluck Jonathan’s visit to China next week, Nigerians in China have planned to meet the visiting President on the need for consular office in the Guangzhou province. The Nigerians resident… Continue reading

Nigeria, China sign Defence, Trade, Economic Cooperation agreements

Existing bilateral relations between Nigeria and China will receive a significant boost next week with the signing of at least four major agreements between the two countries when President Goodluck Jonathan leads a… Continue reading

Nigeria-India Trade Hits U.S.$10 Billion-Envoy

Indian High Commissioner to Nigeria, Mr. Mahesh Sachdev has said that bilateral trade between Nigeria and India has hit $10 billion. He put the Indian investment in the country at $6.6 billion. The… Continue reading

N1.1bn subsidy fraud: Alao, others used forged documents – Witness

A witness in the ongoing trial of three oil marketers, Abdullahi Alao, Opeyemi Ajuyah and Olarenwaju Olalusi, who are facing trial for being culpable in a N1.1 billion fuel subsidy fraud on Wednesday,… Continue reading

YOUWIN: FG creates additional jobs in 12 months

THE Federal Government’s Youth With Innovative   Programme , ‘Youwin’ has created additional jobs  from the 1200 youths empowered to kick off the programme  about one year ago. The  programme, launched  officially  in April,… Continue reading

Nigeria: Skye Bank Kicks Off Cashless Policy in Ogun

Skye Bank, at the weekend, kicked off phase two of the Central Bank of Nigeria, CBN, cashless policy in Ogun State. The Bank Regional Manager for the State, Femi Fatunmbi, made this known… Continue reading

Nigeria: Insurers Underwrite N240bn Business in 2012

Chairman of Nigerian Insurers Association, NIA, Mr. Remi Olowude, has said that the volume of business underwritten by the insurance industry in 2012 was estimated at N240 billion. Olowude gave the figure at… Continue reading

Sterling Bank’s N12.5 Rights Issue Excites Shareholders

Shareholders of Sterling Bank have thrown their weight behind the effort of the bank to increase its capitalisation by way of right issue. As a way of showing this, individual retail shareholders and… Continue reading

Nigerian Oil Union Calls Three-Day Strike Over Welfare Concern

Nigeria’s manager-level oil-worker union called a “three-day warning strike” to press for improved welfare and better severance allowances for members. “All service companies to go on full-blown strike” starting July 4 and “a… Continue reading

Nigeria: CNPP Asks Jonathan to Recover U.S.$400 Billion Looted Fund

Enugu — Conference of Nigerian Political Parties, CNPP, yesterday, called on President Goodluck Jonathan to make a “blanket request” for the recovery of over $400 billion Nigeria’s looted fund. Rising from a meeting… Continue reading

Nigeria: Reduced Oil Output is Major Threat to Nigeria’s 2013 Budget – – Ibru

The President, Lagos Chamber of Commerce and Industry (LCCI), Goodie Ibru, on Saturday said the shortfalls in domestic oil output posed a major threat to the nation’s 2013 budget. Mr. Ibru said in… Continue reading

NLC cautions Senate against removing minimum wage law from exclusive list

IN the interest of peace and harmony, the Nigeria Labour Congress (NLC) has cautioned the Senate against the removal of national minimum wage law from the exclusive legislative list. In a statement released… Continue reading

Nigeria: FG Seeks to Discharge Nlng’s Order Against Nimasa

The federal government has filed an application before the Federal High Court in Lagos asking it to vacate the ex-parte orders granted against it in the ongoing dispute between the Nigeria Liquefied Natural… Continue reading