Business

The President of the Nigerian Bar Association (NBA), Mr. Paul Usoro (SAN) was on Tuesday finally arraigned before a Federal High Court in Lagos for allegedly laundering N1.4 billion. Usoro who was brought to court by the Economic and Financial Crimes Commission (EFCC), however pleaded not guilty to the ten count charge and was admitted to bail in the sum …

Read More »

Nigerians in the UK have emerged the highest senders of money to their home country with £3.27m being sent in 2017. According to a World Bank report, Nigeria was the top receiver of cash from the UK, followed by India, France and Pakistan, reports Daily Mail. This makes the UK the fourth largest source of remittances after the US, Saudi Arabia and the United …

Read More »

The Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC), Mr  Henry Ikem-Obih, has disclosed that  the Federal Government has paid the agreed N236 billion as first tranche of the outstanding subsidy claims to oil marketers Ikem-Obi, who disclosed this in an Interview with the News Agency of Nigeria (NAN) on Monday in Abuja, explained  that government, through the Central Bank, …

Read More »

The Securities and Exchange Commission (SEC) has been notified of the proposed merger between Access Bank Plc and Diamond Bank Plc. Confirming the development on Monday, SEC explained that the agency was aware of the intention of Access Bank and Diamind Bank to go into a merger, adding that “It is a notice to merge, they have not merged yet. …

Read More »

In order to reduce the attendant financial burden that the congestion at the Apapa and Tin Can Island Ports has brought on importers, the Nigerian Ports Authority has announced the following measures which will take immediate effect: 1.With effect from today (Tuesday, December 18, 2018), there will be an increase in rent-free period for cargoes housed in the terminals from …

Read More »

A Federal high court sitting in Lagos south West Nigeria on Monday adjourned till 14th of January, 2019, for the arraignment of Managing Director of Fidelity Bank Plc Nnamdi Okonkwo for allegedly laundering the sum $153,310,000 while the former Petroleum Minister Diezani Allison Madueke and one Ben Otti that supposed be arraigned with him was alleged to be at large. …

Read More »

By Folake Sokoya The HRM Heritage forum,  the first world and largest online forum of traditional rulers in Yoruba land has honoured former Governor of Ogun State, Otunba Gbenga Daniel with an award in recognition of his exemplary leadership traits and unprecedented efforts at fostering unity among traditional rulers in Yorubaland. Otunba Rufai Adeleke, one of its co-founders, while presenting  …

Read More »

A Federal high court sitting in Lagos south west Nigeria has adjourned till 20th of January 2019,a N100 Million breach of contract suit instituted by a Chartered Accountant Dr Patrick Ayo Akinyelure against Access bank Plc. Joined as co-defendant is United Securities Limited. In a statement of claim filed before the court by the law firm of Onu, Uduma & …

Read More »

By Simon Ugwu The Department of Petroleum Resources (DPR) maintained that the agency remains a modern and competent grouping of professionals with rounded and complementary functions actively managing the dynamic and fast-paced oil and gas industry. Mr Paul Osu, the Head, Public Affairs of DPR in a statement issued recently in Lagos said that this became necessary to better enlighten …

Read More »

The Board of Diamond Bank Plc (“Diamond Bank”) on Monday announced that following a strategic review leading to a competitive process, the Board has selected Access Bank Plc as the preferred bidder with respect to a potential merger of the two banks that will create Nigeria and Africa’s largest retail bank by customers. The Board of Diamond Bank believes that …

Read More »